This last lecture considers challenges to the US dollar from the yen, euro, and renminbi, as well as the possibility of a simple collapse of the global monetary system into competing trade and monetary blocs.
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This lecture walks through six contradictions or antinomies, expanding on and updating the original contradiction Robert Triffin identified between adequate trade liquidity and confidence in the redemption of dollars for gold.
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This lecture counterposes metallist and chartalist views on money, as manifested through the “North American” and “New European” approaches, and argues that all money is ultimately credit.
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