He’s known as "Bitcoin Jesus" in the world of cyber-currencies. Though he can’t promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes.
What does taking care of its shareholders special interests first have to do with the Fed’s official dual mandate: stable prices and high employment? And
what do we replace, not just the Fed with, but the entire global fiat monetary system with?
Albeit gold did open about $2.50 higher in New York, yesterday’s enthusiasm levels were nowhere near detectable. We were confronted with abnormal concurrent headlines that observed gold trading at a five-month high and the DJIA closing above 13K for the first time.
Is the dollar still the dominant international currency? This column argues that the answer is "yes". The dollar is used as a major form of cash currency, and is the main currency for exchange rate pegs and for invoicing foreign transactions.