The US has been able to run growing budget deficits by issuing more dollars as the reserve currency. If a polycentric world ends its indulgence, the shock to America could be great. In 1944, at the end of World War II, a new international monetary system was agreed. This system pegged currencies to the price […]
Is The Monetary System Facing The Risk Of Recession?
The International Monetary Fund, other economic institutions, politicians, experts, and a good number of indicators predict a new economic downturn. The causes will be diverse but the significant one is that debt worldwide has grown at an exaggerated rate. According to the report of the International Finance Institute, IIF, global debt is $247-plus trillion, 318% […]
