{"id":191653,"date":"2009-07-13T22:41:00","date_gmt":"2009-07-14T03:41:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/13\/more-footsteps-toward-the-exits\/"},"modified":"2009-07-13T22:41:00","modified_gmt":"2009-07-14T03:41:00","slug":"more-footsteps-toward-the-exits","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/13\/more-footsteps-toward-the-exits\/","title":{"rendered":"More Footsteps Toward the Exits"},"content":{"rendered":"<p><span>Specifically<\/span>, this regards the US dollar, and the leader of the Japanese opposition party, which is currently leading in the polls, is saying that, &#8220;<a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=acmzAQiv_eQI\">the nation should consider shifting its $1 trillion of foreign reserves away from the dollar and buying <span>International<\/span> Monetary Fund bonds<\/a>,&#8221; and we have increasing evidence that <a href=\"http:\/\/www.independent.co.uk\/news\/business\/comment\/stephen-king\/stephen-king-china-takes-small-steps-towards-breaking-the-sway-of-the-us-dollar-1743696.html\">China is taking baby steps away from the US dollar too<\/a>, <span>increasingly<\/span> moving toward bilateral trade deals in which the currencies in question are <span>increasingly<\/span> directly exchanged, as opposed to dollar denominated.<\/p>\n<p>I think that there has always been a synergy between the US financial industry and the US dollars status as the world&#8217;s preeminent reserve currency, and what has shaken it lately is <span style=\"font-weight: bold;\">not<\/span> the US deficits, but the spectacle of a <span>dysfunctional<\/span> and corrupt finance industry which has our government so in its thrall that it tarnishes both the industry and the currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Specifically, this regards the US dollar, and the leader of the Japanese opposition party, which is currently leading in the polls, is saying that, &#8220;the nation should consider shifting its $1 trillion of foreign reserves away from the dollar and buying International Monetary Fund bonds,&#8221; and we have increasing evidence that China is taking baby &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,1016,1017],"tags":[],"class_list":["post-191653","post","type-post","status-publish","format-standard","hentry","category-currency","category-international-commerce","category-international-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191653"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191653"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}