According to central bank chief Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on February 1, which will devalue the currency by 90%.
One of the first Asian leaders to recognize the global and regional impact of China’s rise, the late Japanese Prime Minister Shinzo Abe laid the foundation for a new Asian order that is now emerging.
The average card-carrying Austrian would say that the Federal Reserve is creating money by the bale, with evidence being Consumer Price Index prints of 8.6 percent per the Bureau of Labor Statistics or over 15 percent per John Williams’s shadowstats.com computation based on the way the government calculated CPI back in 1980. Surely, at best, the US dollar is only the cleanest dirty shirt in the currency laundry basket.
In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.
Pakistan is set to become the world's next 'zombie' country after crisis-wracked Lebanon, as a large part of the population and businesses have tired of the shenanigans of a corrupt, self-serving elite and are seeking a permanent exit from the country.
The US owes the rest of the world a net of $18 trillion at the moment, which is 73% of its GDP, considerably exceeding the 50% mark that has frequently signalled currency crises in the past, all of which suggest the coming of a post-dollar world.
According to Bloomberg's Sovereign Debt Vulnerability Ranking, here is the list of countries with the highest default risk.
