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Noam Chomsky on "The Federal Reserve" (2013)

Noam Chomsky on "The Federal Reserve" (2013) | money money money | Scoop.it
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How to prepare for next unplanned financial crisis - HeraldNet

How to prepare for next unplanned financial crisis - HeraldNet | money money money | Scoop.it


The shutdown of the federal government affected many people's lives.

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Yellen Holds the Key to Dollar's Decline (Die Welt, Germany) - Worldmeets.us

Yellen Holds the Key to Dollar's Decline (Die Welt, Germany) - Worldmeets.us | money money money | Scoop.it


In his view, if U.S. financial policy continues to be chaotic, the need for an alternative reserve currency may well rise.

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America the Reckless by Michael Spence - Project Syndicate

America the Reckless by Michael Spence - Project Syndicate | money money money | Scoop.it

The global economy faces tremendous trials in the coming years: growth, employment, and distributional challenges in many advanced and developing countries; far-reaching institutional reform in Europe; the complex middle-income transition in China; and the continuing need to reduce poverty worldwide. Managing them effectively requires designing a system of global governance in which one country’s internal politics cannot jeopardize all countries’ prospects.

 



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US standoff was fallout from the financial crisis – and it's not over - The Conversation

US standoff was fallout from the financial crisis – and it's not over - The Conversation | money money money | Scoop.it

The recent political standoff that shut down the US government for 16 days and came uncomfortably close to the debt ceiling extension deadline is now thankfully over — for the moment. Given the current deal only extends the debt ceiling to February 7 (and the budget to January 15), it marks the end of one round of an ongoing battle. In the words of Republican Senator Marco Rubio, “This fight is not over. It’s really only just begun."

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GCC economies to withstand fallout from US financial crisis - The National

GCC economies to withstand fallout from US financial crisis - The National | money money money | Scoop.it

Arabian Gulf economies are well placed to weather the fallout from an American financial crisis if US authorities yet again face the same impasse that threatened global financial markets this week, a leading analyst says.

 



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Why Bitcoin Boomed During the Government Shutdown - Motherboard (blog)

Why Bitcoin Boomed During the Government Shutdown - Motherboard (blog) | money money money | Scoop.it

Bitcoin’s resiliency can no longer be denied, especially as the digital currency continued its ascendancy even against the backdrop of a US government in utter disarray. At the 11th hour of the crisis, President Obama signed a bill that ended the partial government shutdown and, more importantly, raised the debt ceiling, an arbitrary limit on the amount of money the country can borrow that would have been surpassed today. If Congress had failed to reach a deal and the US was unable to pay its bills, the results might have been catastrophic, eclipsing the bankruptcy of Lehman Brothers five years ago, the domino that could trigger the worst financial crisis since the Great Depression. 

 
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Chinese agency downgrades US credit rating

Chinese agency downgrades US credit rating | money money money | Scoop.it

 A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington's resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained "unchanged".

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US shutdown: Congress pulls back from the brink - Toronto Star

US shutdown: Congress pulls back from the brink - Toronto Star | money money money | Scoop.it
US shutdown: Congress pulls back from the brink
Toronto Star
The International Monetary Fund has advanced the concept of SDR (special drawing rights), in which a global currency based on a basket of currencies eventually dislodges the U.S.
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US Dollar To Remain Strong After Debt Ceiling Crisis: Analysts - Forbes

US Dollar To Remain Strong After Debt Ceiling Crisis: Analysts - Forbes | money money money | Scoop.it


“I don't think there is going to be any major economic fallout,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

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How the U.S. debt crisis is hurting Canadians' confidence in the economy

How the U.S. debt crisis is hurting Canadians' confidence in the economy | money money money | Scoop.it
The failure to reach a debt ceiling deal could push the world’s biggest economy into default, and threaten the well-being of other countries, most directly Canada, which ships most of its goods to the U.S.
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US borrowing crisis 'days away' from danger, says World Bank head - BBC News

US borrowing crisis 'days away' from danger, says World Bank head - BBC News | money money money | Scoop.it

The president of the World Bank, Jim Yong Kim, has warned that the United States is just "days away from a very dangerous moment" because of the government's borrowing crisis.

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World Leaders Press the US on Fiscal Crisis - New York Times

World Leaders Press the US on Fiscal Crisis - New York Times | money money money | Scoop.it

WASHINGTON — Leaders at World Bank and International Monetary Fund meetings on Sunday pleaded, warned and cajoled: the United States must raise its debt ceiling and reopen its government or risk “massive disruption the world over,” as Christine Lagarde, the fund’s managing director, put it.

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Debt Ceiling Crisis: World Finance Officials Focus On Global Risks - Huffington Post

Debt Ceiling Crisis: World Finance Officials Focus On Global Risks - Huffington Post | money money money | Scoop.it

The International Monetary Fund's policy committee said the United States needed to take "urgent action" to address the budget impasse that has blocked approval of legislation to increase the government's borrowing limit before a fast-approaching Thursday deadline.

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Debt ceiling crisis has other nations angry and scared - BBC News

Debt ceiling crisis has other nations angry and scared - BBC News | money money money | Scoop.it


Each of those sparked global financial crises that required US intervention.

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The Dollar And The Debt Ceiling

The Dollar And The Debt Ceiling | money money money | Scoop.it

The dollar is the world’s go-to currency. But for how much longer? Will the dollar’s status as the only true global currency be irreparably damaged by the battle in the US Congress over raising the federal government’s debt ceiling? Is the dollar’s “exorbitant privilege” as the world’s main reserve currency truly at risk?

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US Treasury warns that default could cause huge economic crisis

US Treasury warns that default could cause huge economic crisis | money money money | Scoop.it
The Treasury is warning that the economy could plunge into a downturn worse than the Great Recession if the country defaults on its debt obligations.
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US debt ceiling divisions may be an omen of greater crises to come - CITY A.M.

US debt ceiling divisions may be an omen of greater crises to come - CITY A.M. | money money money | Scoop.it

AS THE government shutdown has metastasised into a crisis about the US debt ceiling, a dark narrative has been playing endlessly inside my head. For the social and political divisions that have been revealed over these past few weeks may well be harbingers of greater crises ahead.

 

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How the US Debt Ceiling Could Highlight Bitcoin’s Role as an Asset Class - The Genesis Block

How the US Debt Ceiling Could Highlight Bitcoin’s Role as an Asset Class - The Genesis Block | money money money | Scoop.it
Discussions of a possible US default have dominated the news cycle for the past few weeks. This is now the second time in as many years that debates over the debt ceiling have pushed the boundaries of the US government’s borrowing infrastructure.
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How the US Debt Ceiling Could Highlight Bitcoin’s Role as an Asset Class - The Genesis Block

How the US Debt Ceiling Could Highlight Bitcoin’s Role as an Asset Class - The Genesis Block | money money money | Scoop.it
Discussions of a possible US default have dominated the news cycle for the past few weeks. This is now the second time in as many years that debates over the debt ceiling have pushed the boundaries of the US government’s borrowing infrastructure.
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Christine Lagarde tells US that debt crisis threatens world economy ...

Christine Lagarde tells US that debt crisis threatens world economy ... | money money money | Scoop.it

Shares in New York fell sharply on Thursday after the US Treasury warned that the budget fight between Republicans and Democrats in Washington risked plunging the world's biggest economy into its worst slump since the Great Depression.

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10 simple things that finally explain the debt ceiling - Boston.com

10 simple things that finally explain the debt ceiling - Boston.com | money money money | Scoop.it

The new fiscal year began on Oct.1, at which point the government shut down without an authorized discretionary spending bill. But that’s only half the issue. The other half: the impending breach of the debt ceiling and the possibility that mandatory programs will go without the funding they are legally allocated. Confused? It’s understandable. Here are 10 things to explain the debt ceiling.

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US financial standoff endangers global economy - Deutsche Welle

US financial standoff endangers global economy - Deutsche Welle | money money money | Scoop.it


That's because this time around, the burning issue for participants from 188 nations won't be the euro crisis, as it was last year, but rather the financial row in the US.

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Q. and A. on the Government Shutdown in the US - New York Times

Q. and A. on the Government Shutdown in the US - New York Times | money money money | Scoop.it

Even some Republicans are queasy about maybe having pushed things too far, and the early signs are that public opinion is on the side of the Democrats. Some of the conservative criticisms of Mr. Obama’s policies, the health care overhaul in particular, seem based more on emotion and perception than on fact; it is hard to sustain an argument that the program amounts to socialism when it is built around competition among corporate insurers for the business of individuals and companies. Under Mitt Romney, the 2012 Republican candidate for president and a self-professed conservative, the state of Massachusetts implemented a health care plan almost identical to what Mr. Obama signed into law on the national level.

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US Government Shutdown: Next Step Dollar Collapse? - The Market Oracle

US Government Shutdown: Next Step Dollar Collapse? - The Market Oracle | money money money | Scoop.it


There must be a reasonable currency alternative for everybody to charge into.  A triggering occasion might need to happen. The leading condition does exist.

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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation