The Death-Defying Dollar
Mark Twain, the nineteenth-century American author and humorist, once responded to accounts of his ill health by writing that “reports of my death are greatly exaggerated.” He might have been speaking about the dollar: for the moment, the patient is stable, external symptoms notwithstanding, though there will be grounds for worry if he doesn’t commit to a healthier lifestyle.
https://prosyn.org/0ZYCfTr
BERKELEY – The blogosphere is abuzz with reports of the dollar’s looming demise. The greenback has fallen against the euro by nearly 15% since the beginning of the summer. Central banks have reportedly slowed their accumulation of dollars in favor of other currencies. One sensational if undocumented story has the Gulf States conspiring with China, Russia, Japan, and France – now there’s an odd coalition for you – to shift the pricing of oil away from dollars.