Posts by David Schroeder

Can the new China–Russia alliance destabilize the post-World War II order led by the United States? Potential efforts to assist Russia to sell its oil and dodge Western sanctions have prompted fears about the survival of the global economic order. Some wonder if China and Russia’s continuous de-dollarization drive will expand, putting the U.S. dollar’s hegemony in the global…

‘This is going to change everything about your life’ Since the 1940s, the global monetary system has radically changed three times: “Bretton Woods one” in 1944, when the U.S. dollar was attached to the gold standard. Then, “Bretton Woods two” in 1971, when Nixon took us off the gold standard and the dollar was semi-attached…

Check out Project Hamilton. It’s all about where we already are with the digital dollar. This is scary stuff. A programmable digital dollar not built on blockchain technology. https://www.bostonfed.org/publications/one-time-pubs/project-hamilton-phase-1-executive-summary.aspx

Treasury Secretary Janet Yellen said Thursday that Americans will likely see another year of “very uncomfortably high” inflation. “We have seen a very meaningful increase in gas prices, and my guess is that next month we’ll see further evidence of an impact on U.S. inflation of Putin’s war on Ukraine,” Yellen said. The Treasury secretary’s…

Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include most of the oil…