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Nouriel Roubini: A bipolar currency regime will replace the dollar's exorbitant privilege
By Nouriel Roubini
Financial Times, London
Sunday, February 5, 2023
The U.S. dollar has been the predominant global reserve currency since the design of the Bretton Woods system after the second world war. Even the move from fixed exchange rates in the early 1970s did not challenge the greenback's "exorbitant privilege."
But given the increased weaponisation of the dollar for national security purposes, and the growing geopolitical rivalry between the west and revisionist powers such as China, Russia, Iran, and North Korea, some argue that de-dollarisation will accelerate. This process is also driven by the emergence of central bank digital currencies that could lead to an alternative multipolar currency and international payment regime.
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Dolly Varden Silver Reports Multiple Gold and Silver Intersections at Homestake Ridge,
with 46.31 g/t Au and 70g/t Ag over 25m, Including 1,145 g/t Au and 826 g/t Ag over 0.48m
Monday, January 30, 2023
VANCOUVER, British Columbia, Canada -- Dolly Varden Silver Corp. (TSXV: DV) (OTC: DOLLF) is pleased to announce drill results from the 100%-owned Homestake Ridge property in British Columbia's Golden Triangle.
Highlights from the Homestake Main Deposit include:
-- HR22-324: 4.32 g/t Au and 76 g/t Ag over 22.50 meters including 19.42 g/t Au and 375 g/t Ag over 4.50 meters.
-- HR22-333: 46.31 g/t Au, 70 g/t Ag and 0.19% Cu over 25.00 meters including 1,145 g/t Au, 826 g/t Ag and 0.51% Cu over 0.48 meters. ...
"Dolly Varden Silver's initial drilling at the Homestake Main Deposit has returned consistent mineralized intervals with some of the highest grades of gold with silver reported from the Property to date, but also the entire Golden Triangle during the 2022 drilling season," said Shawn Khunkhun, president and CEO.
"Coupled with the exceptional grades and thicknesses of silver mineralization encountered in step-out holes at the Wolf and Kitsol Deposits, we are demonstrating the impressiveprecious metal endowment and potential of the Kitsault Valley trend." ...
... For the remainder of the announcement:
Sceptics argue that the global share of the U.S. dollar as unit of account, means of payment, and store of value hasn't fallen much, despite all the chatter about a terminal decline. They also point out that you can't replace something with nothing -- as former U.S. Treasury Secretary Lawrence Summers put it: "Europe is a museum, Japan is a nursing home, and China is a jail." ...
These points may once have had some validity, but in a world that will be increasingly divided into two geopolitical spheres of influence -- namely those surrounding the U.S. and China -- it is likely that a bipolar, rather than a multipolar, currency regime will eventually replace the unipolar one. ...
... For the remainder of the analysis:
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