The United States dollar became the world's chief currency after the Bretton Woods Conference in 1944 and it developed into the world's reserve currency after President Nixon made a deal with Saudi Arabia on its oil sales. Being the world's reserve currency enables the United States to more freely print money. It is therefore an advantage the world gives to the United States. President Trump's hard line approach with everyone over trade disparities...unpaid bills....and unfulfilled promises....has many of these countries saying....'wait a second....he's complaining that we have an advantage on trade but they have a greater advantage on having the chief reserve currency." There is definitely a move on to replace the dollar as that reserve currency. This movement has been making slow but steady progress where it would take years to replace the dollar....but there are plans in the making that could upend United States hegemony with a quick succession of moves.
Christine Lagarde.....the Managing Director and Chairwoman of the International Monetary Fund (IMF)....gave a speech in September of 2017 to the Bank of England....Fleet Street....in which she lauded the "immense strides" of artificial intelligence....and imagined a future where people hovered above the city streets in "pods." The central bank governor arrives for a meeting with...."economists sitting at desks"...or...."an intelligent machine".....LaGarde won't speculate....and concluded her remarks with...."As our pod journey comes to an end, some of you many be wonder about my upbeat tone. For many, this new world of central banking is less Mary Poppins, and more Aldous Huxley: a "brave new world" much like the one described in Huxley's famous novel. I believe that we-individuals and communities-have the capacity to shape a technology and economic future that works for all. We have a responsibility to make this work. That is why I prefer Shakespeare's evocation of the brave new world in The Tempest. "O wonder! How many goodly creatures are there here! (on Fleet Street I presume she means) How beauteous mankind is! O brave new world."
The question in such a scenario would be how would President Trump react to such moves. Would he fight it with bold and imaginative moves of his own strategists as his rhetoric indicates.....or could there be a deal in the making with great potential here for the United States in this....brave new world? This is why truth in everyday matters....and transparency....is so very important in a President of the United States.
Christine Lagarde.....the Managing Director and Chairwoman of the International Monetary Fund (IMF)....gave a speech in September of 2017 to the Bank of England....Fleet Street....in which she lauded the "immense strides" of artificial intelligence....and imagined a future where people hovered above the city streets in "pods." The central bank governor arrives for a meeting with...."economists sitting at desks"...or...."an intelligent machine".....LaGarde won't speculate....and concluded her remarks with...."As our pod journey comes to an end, some of you many be wonder about my upbeat tone. For many, this new world of central banking is less Mary Poppins, and more Aldous Huxley: a "brave new world" much like the one described in Huxley's famous novel. I believe that we-individuals and communities-have the capacity to shape a technology and economic future that works for all. We have a responsibility to make this work. That is why I prefer Shakespeare's evocation of the brave new world in The Tempest. "O wonder! How many goodly creatures are there here! (on Fleet Street I presume she means) How beauteous mankind is! O brave new world."
The question in such a scenario would be how would President Trump react to such moves. Would he fight it with bold and imaginative moves of his own strategists as his rhetoric indicates.....or could there be a deal in the making with great potential here for the United States in this....brave new world? This is why truth in everyday matters....and transparency....is so very important in a President of the United States.
