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US Currency War Machine

In: The Global Curse of the Federal Reserve

Author

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  • Brendan Brown

Abstract

If the second monetarist revolution were to occur in the USA, then the world would find itself at the dawn of a new age of dollar hegemony. No longer would international investors have to fear that their dollar assets could suddenly erode in value due to the Federal Reserve taking big gambles with monetary stability so as pursue a shorter-term objective such as to accelerate the pace of economic expansion (and hopefully employment growth). These monetary gambles have often occurred as an essential component of a currency war strategy forged in a decentralized fashion within the US government (including the Federal Reserve as a semi-independent agency). With such war danger no longer present, much of the currency diversification of recent decades, as investors globally have sought safety by introducing monies other than the US dollar into their portfolios, would go into reverse.

Suggested Citation

  • Brendan Brown, 2013. "US Currency War Machine," Palgrave Macmillan Books, in: The Global Curse of the Federal Reserve, chapter 5, pages 109-138, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-29740-2_5
    DOI: 10.1057/9781137297402_5
    as

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