... could go into the how’s and why’s, but that is a discussion for another time. What is important is how it affected everyone’s confidence that the system was rock solid, confidence that to this day is not restored. Countries such as China and India, who have depended heavily on the western dominated financial system, began to have second thoughts.
Lehman Brothers CEO Dick Fuld at the Congressional Hearing examining the failure of Lehman Brothers. (Source: Wall Street Journal)
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... trading partner, with about 27$ Billion in trade volume. It’s pretty clear why Russia is scrambling to limit its exposure to the United States and the Dollar Source: CNN At first glance, one would point to the warming of relations between Russia and China as a step in the right direction. These warming relations can be key in diminishing Russia’s exposure to the dollar[2]. China after all, is the worlds 2nd largest economy, and it has its own concerns about the weakening strength of the dollar....
Currency Wars follows the actions of governments and central banks to manipulate their currencies and currency denominated securities to their advantage and to the disadvantages of foreign markets. At the present day the focus will be on China and the United States, as China has expressed concerns about the safety and reliability of the US dollar. America has dominated the global financial system ever since July of 1944. During this period, the financial leaders of the western world met ...
