Hey, Mr. Trump
May 4, 2025In yesterday’s world, the dominance of the dollar amounted to a Faustian dilemma: the United States could indeed finance itself cheaply, but at the cost of dependence on foreign entities, ultimately leading to its decline. A traditional definition of a reserve currency is that the country issuing it must run a balance of payments deficit.…
The countdown has begun
April 27, 2025In just a few weeks, the White House and the United States have gotten themselves into a situation from which they will have the greatest difficulty escaping. Starting on April 10, trade between the U.S. and China progressively — but irresistibly — came to a halt. Cargo bookings, in fact, collapsed in the wake of…
“What did you do last week?”
February 23, 2025“What did you do last week?“—this is the form sent by Musk’s teams to all U.S. government servants. The American government is now run like a startup! Even more bureaucracy to ease bureaucracy, in the end.
China/USA: a separation of bodies
April 26, 2024China’s holdings of U.S. Treasury bonds are at their lowest level in 15 years, while its gold reserves have reached a record high. These are all signals indicating a desire to decouple its economy from that of the United States as quickly as possible.
USA
February 7, 2023US growth under its various Presidents The % of US Republican officials who believe their country gives too much to Ukraine is steadily increasing
A US dilemma ?
December 26, 2022The United States is not wrong to support Ukraine because a Russian defeat is in their interest. However, the American and Ukrainian objectives do not quite coincide because the USA has achieved theirs while the Ukrainians have not yet. Therefore, the former are eager to bring Russia back to the negotiating table when the…
Interwinded
November 21, 2022China-USA: their respective inflation is moving in phase as this graph clearly shows. These two countries are therefore interdependent, despite their political postures.
America’s superpower
October 6, 2022The Dollar is becoming scarce, because the whole world wants and lacks it. This problem – recurring since the 1960s – of scarcity of the American currency constitutes an incredible headache for the countries indebted in this currency when the latter is brought to appreciate because their debts and their interests become more expensive…
$: the lord almighty, our master
November 28, 202115th August 1971: surely the most important date of the 20th century for economics and finance, the day that marked the decision of US President Nixon to unpeg the dollar from gold. Taken on a Sunday evening, before the opening of the markets, it introduced a new era: that of a currency underpinned solely…
Tribute to America
December 24, 2020Dear readers, I have the pleasure of announcing to you my second article in a series of analyses that I wish to dedicate to the United States of America. Here is the first, What the hell’s the presidency for?, published 14 December 2020. All of American history – from 1776 to…