Oil prices are plummeting at an all-year high. From $115 per barrel at the beginning of summer last year, it now ranges from $50 to $70. Early last month, price per barrel plunged below $50, and price change is felt in all parts of the world. But no matter how good cheap fuel rate looks […]
Since the global economic crisis of 2008, the Federal Reserve, the US central bank, has printed more than $2 trillion and continues to do so. As a result, the size of its balance sheet has more than tripled and now it holds more than $3 trillion and still growing, while the markets continue to rally. […]
Liu Chang of China’s official news agency Xinhua wrote that “…it is perhaps a good time for the befuddled world to start building a de-Americanized world.” Forbes’ Bill Conerly, in his article October last year, wrote that this statement may have prompted people to show interest on the role of the dollar as the world’s primary reserve currency, especially in the face of the budget crisis, debt ceiling crisis and the credit rating downgrade that the U.S. economy had suffered. What is the significance of the dollar’s position as the world’s primary reserve currency?