mercoledì 20 dicembre 2017

Exorbitant Privilege. The Rise and Fall of the Dollar - Barry Eichengreen


Historical/Economic book on the foundation and the dominance of Dollar in the global currency market. The formation of United States finds himself ready in the name of Dollar. What's this book is all about is what Sterling Pound before and Euro/Renminbi now hasn't reached to do, a passe-partout for every market/trade. 
The Sterling Pound lost its prominence due to the World War First, and overrun by the Dollar and after with the tumultuous Gold create a widening of the balance & deficits of U.S.A. and so on in the 21st century the Quantitative Easing that enlarges the preponderance of the Federal Reserve as the last lender. By now the World troubles are increasingly evident, the last crisis from 2008 alongside with the automation put in stage new imbalances & inequalities; so the central role of the Dollar still remain, but new challenges and openness of the markets built in between will determine the new multipolar basket of currencies and markets. Sure, the author underlines that the things don't change overnight because the US markets liquidity and geopolitical consideration still going to maintain this equilibrium, almost until the emerging of a Europe as a Nation or the opening of the China market and institution will sign a new era. A good lecture with many insights.

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