In 1971, US President Richard Nixon shocked the global financial system by ending the dollar’s convertibility into gold, dissolving the Bretton Woods order and introducing a new era of floating exchange rates. Treasury Secretary John Connally, with striking candor, declared: “The dollar is our currency, but it’s your problem.” This phrase has echoed through decades… Continue reading Our Dollar, Your Problem: Market Stress, Exchange Rate Feedback and the Fiscal Reckoning Ahead The po...
