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Article: Upshot of the dollar's demise.(Business Report Weekend)
- Article from:
- The Sunday Independent (South Africa)
- Article date:
- November 1, 2009
CopyrightCOPYRIGHT 2009 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Joseph Edozien
Both the rhetorical and policy responses from the monetary authorities in the US to the not-so- veiled undermining of confidence in the global currency reserve status of the dollar from other monetary authorities, notably from China and Russia, have been remarkably tepid and timid. This diffidence is not normal from the US and is therefore thought-provoking.
This of course raises the quite awkward question of why and how patriotic monetary authorities in the US could possibly see merit in implicitly colluding in the debasement of the perceived value of its own sovereign currency.
Does such implicit collusion make any ...