Donald Trump's retreat over Greenland may have come too late to reverse growing global disenchantment with the American dollar as China and other holders of US currency reserves continue dumping or running down their exposure to the greenback. Ever since the 'Nixon shock' of 1971, which ended gold backing for the dollar, the US has enjoyed the privilege of having the world's reserve currency. ...read
The trigger for stock market collapse often has been a schism between the US and Europe and follows a period of over-exuberance. Tariffs, in the shape of Smoot-Hawley, caused a beggar-thy-neighbour reaction from US trading partners in the 1930s and was a source of the Great Depression. ...read
Among Rachel Reeves' favourite themes is to ask why UK pension funds can't be more like Canadian and Aussie counterparts by investing in Britain. The Chancellor has a point. UK pension funds have fled Britain and own just 4% of the listed stocks in London. ...read
