Natural‑Resource “Times‑Cover” of Debt: Strategic Collateral and the Logic of American Imperial Reach (“The Ugly American”) ********* 1. An Unusual Metric, Not an Air‑Fairy Abstraction In public‑debate and economic commentary, the focus typically falls on debt‑to‑GDP ratios, fiscal deficits, and interest‑service burdens when assessing sovereign solvency. Rarely do analysts treat natural‑resource wealth as a long‑term,Continue reading ““The Ugly American”: Why the U.S.A. casts such a long, baleful shadow over places like Russia, Venezuela, Iran, and Iraq”
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Why India transferred its Gold reserves kept in UK Central Bank vaults since 1991 back to its domestic vaults?
To think of a possible and simple explanation for the question, you have to first quickly read this article of the famous American economist, Paul Krugman: https://finance.yahoo.com/news/remember-u-doesn-t-pay-204354371.htmlhttps://finance.yahoo.com/news/remember-u-doesn-t-pay-204354371.html ….. “Most historical examples of debt crises took place in countries that borrowed in another country’s currency”… says Paul Krugman. What a diabolically ingenious way indeed to defendContinue reading “Why India transferred its Gold reserves kept in UK Central Bank vaults since 1991 back to its domestic vaults?”