Articles tagged Nixon

Guerre des devises

CURRENCY WAR CLOUDS OVER AFRICA

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As a result of chronically deficient demand in the aftermath of the 2008-2009 financial and economic crises, global imbalances are on the rise again, as is the risk of protectionism. The US accuses China of undervaluing its currency to support its industry.  The situation could lead to an “international currency war”.   What does this herald for African countries?

If history is any guide, we More >

Dollar comic

CAPITALISM IN CRISIS

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Marxist economics made the withering away of the state its ultimate goal. However, it is the unabated liberalisation of the world economy, which is translating the old socialist dream into a disquieting reality. It needed the combination of three ingredients to make this twist of history possible.

First, there was Nixon’s decision in 1972-73 to end the dollar-gold link, which led to the official More >

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