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Economy
See other Economy Articles Title: US bank trouble heralds end of dollar reserve system
Source:
Asia Times
URL Source: https://asiatimes.com/2023/03/us-ba ... -end-of-dollar-reserve-system/
Published: Mar 28, 2023
Author: David P Goldman
Post Date: 2023-03-28 02:07:03 by Charles_Byrd
Keywords: None
Views: 115
The US banking system is broken. That doesn’t portend more high-profile failures like Credit Suisse. The central banks will keep moribund institutions on life support. But the era of dollar-based reserves and floating exchange rates that began on August 15, 1971, when the US severed the link between the dollar and gold, is coming to an end. The pain will be transferred from the banks to the real economy, which will starve for credit. Click for Full Text! Post Comment Private Reply Ignore Thread
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