Thursday, September 22, 2022

How the West Poisoned Its Money — Yanis Varoufakis

Interesting article, but it doesn't mention how the West also poisoned its money by politicizing it — weaponizing it really — with sanction.

The article also suggests, although not explicitly, how so-called sound money backed by conversion into a real resource at a fixed rate addresses this issue of cheapening the money. This is may be coming by fixing an international trading vehicle through a basket of commodities, a return to precious metal standard being unlikely.

Project Syndicate (free registration may be required)
How the West Poisoned Its Money
Yanis Varoufakis


Matt Franko said...

Word salad….

Peter Pan said...

....with extra dressing.

mike norman said...

Nothing poisoned the dollar. It's stronger than ever, precisely because of the power of sanctions. The euro was bound to fail the way their monetary system was structured. Varoufakis was part of this when he was the Greek Minister of Finance.