Whoever dominates the world’s energy markets rules global politics. Coal fuelled the expansion of the British empire. Control over oil flows helped the US dictate the settlement after World War […]
The global financial markets are now increasingly dependent on a single currency, the US dollar, and a single source of liquidity—the US central bank. That’s the conclusion drawn by the […]
Hardly at all, then at once—the tectonic plates of the global monetary system are shifting. Mark Carney, the outgoing Bank of England governor, yesterday shocked the traditionally staid annual August […]