Traditional
of debit called dollar has transformed more
Florida
Richard Duncan, l' author of the crisis of the dollar - causes, & of consequences; The cures, 10 are between the more famous commentators who consider traditional. It discusses that from when the connections with gold has been uniforms in explosive increase 1971 in the international monetary reservoirs generated from the cits of defi of the dollar they have provoked brands total of accreditation that is going to burst. In chapter of the rst of fi of the crisis of the dollar, `the imbalance of Payments' , the `writes during the three decades that follow the division of the system that monetary international of Bretton Woods the imbalances trades has them Florida ooded the world with the liquidity that cause the ation economic of the hyperinfl and overheating in the prices of the real estate market, initially near the countries characterizes them and now on a scale'. total. Nds of fi primary Florida aw of the champion of the dollar is that difetta of the mechanism of recording that has existed with the system of Bretton based Woods gold or any other recording mechanism. Consequently the imbalances trade them of largeness and of the duration without precedence of the `they have developed and destabilized l' total economy. L' enormous equilibrium of the surplus trades held them from the exporting countries in instruments of debit called dollar has transformed more a lot the United States in the obliged nation within history. In order to preview the perspective for l' total economy Duncan has discussed it era necessary to estimate a synchronization of two events: a 1 landslide in expenses of consumption in the United States that will lead to recession after the explosions of brands of the property of the United States; and 2 a correction of defi the CIT of checking account of the United States the dollar standard and `Defi CIT without 83 breaches the state of the rst of fi has been filled up in 2007 and, with a probable slowing down or even the recession in the United States,
the second circumstance could have been met in 2008. Duncan has put to fire on the defi trades them CIT of the United States for two reasons. In the first instance the relative extraordinary and second format because the United States have been l' only country in degree to nance of fi the relative increasing level of indebtedness to the rest of the world publishing payable instruments of debit in relative the own domestic currency. The following lines esh of Florida outside the base of its forecast for an all over the world unavoidable recession: When the United States have refused to adhere to the rules of Bretton Woods being suspended the convertibilità of the dollars in gold, the recording mechanism that has had persistent imbalances previously avoided stopped in order to work. As if from magic the ties that previously avévano maintained the cits trade them of defi of the United States in the control seem to disappear hardly. During the three decades since the landslide of Bretton Woods famous Duncan:
`The United States have defi a cumulative current CIT quickly more than $3 trillions (like to 2005). L' effect of $3 trillions that enter in bancari systems of the countries with un' surplus of checking account against the United States hardly has fixed in the movement a process of the accreditation creation as if the world had uncovered an enormous refueling of new gold. ' L' accreditation impulse has generated all over the world brands of accreditation of support from paper the reservoirs and has only been characterized from the economic overheating and the price of the strict real estate market ation of the infl. Since great part dell' accreditation cannot be reimbursed Duncan discusses brands of accreditation is risky near defl that ating and the `that the house of the papers economic has constructed with the paper dollars has begun to wobble'. The relative fall, has concluded the `once again will teach to the world because l' gold - not paper - has been the preferred warehouse of the value for the thousands of years' ,11 Duncan has previewed that one after l' it was dell' export-main extremity of development and economic the development founded on the question of the families follows a total recession that will hit world-wide commerce, prices of the assets, securities markets and nances of fi of government - a conclusion in conformity with l' observation often cited of Jacques the French Rueff dell' economist the one which asks the United States to deposit the relative ones cits of defi would be like giving to a bald man a comb and chiedergli to comb its hats. He cannot. But he keeps in mind who the traditional sight on the cits and the imbalances of defi could be wrong. Jacques Rueff has defied sostenibilità dell' hegemony of the dollar forty years ago. From then the total United States and economies they have prospered. Thus we examine the new method of paradigm to the total imbalances of checking account and see if we can ND of fi an acceptable explanation.
