A Quote by Steve Mnuchin
To the extent the dollar gains strength relative to other currencies, assets priced in those other currencies would become cheaper on a dollar basis.
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A dollar vigilante is a free market individual who protests the government monopoly and financial policies, such as fractional reserve banking and unbacked fiat currencies, by selling those same fiat currencies in favor of other assets, including gold and precious metals.
When the dollar goes down relative to other currencies, the price of wheat, corn, rice and oil all go up in dollar terms.
Complementary currencies work in addition to existing money, rather than replacing existing, official money. There are whole different families of complementary currencies. One of them is local currencies. One is regional currencies. Another is functional currencies. Another is social-purpose currencies.
The fear is that if the dollar falls below 50% of the currency basket held by commercial and central banks and insurance companies, there may be a democratization of the way currencies are priced.
Well, I don't like the UK. I haven't ever been a fan of the pound (sterling),
and even though they are taking some steps in the right direction - more so than the US - in addressing some of their problems, I still think they're doing it much too slowly. So, I think that the pound will continue to lose value relative to some of these other currencies. I ultimately expect the pound to rise against the dollar, but that's not the best way to take advantage of dollar weakness.
Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. economy. So it's important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
The IRS issued guidance for virtual currencies on March 25, 2014 that stated virtual currencies, including Bitcoin, are to be treated as property for federal tax purposes. This requires capital gains on virtual currencies to be recorded and reported. The Bitcoin Foundation says this could lead to unrealistic reporting.
We had other currencies that we could find work in - the currencies of movements: passion, spirit, creativity.
The mark of a single currency is not only that all other currencies must be extinguished but that the capacity of other institutions to issue currencies must also be extinguished...In the case of the United Kingdom, that would involve Parliament binding its successors in a way that it has hitherto regarded as unconstitutional.
The proposal for a new global reserve currency - or Special Drawing Rights - is a good idea for many reasons. Yes, for the Chinese it would cushion any fall in the value of the dollar per se because it would only be part of a basket of other currencies, including the yen and the euro.
Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.
When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies... From that point forward, its value increasingly became discounted.
Rupee fluctuation is not so significant compared with the other currencies. Fluctuations in currencies has been fairly steady. As the finance minister often says, fluctuation is the new normal.
We have a government that purposely counterfeits and debases the currencies, and I believe that the alternative would be a competition. That means that anything that wants to substitute for the American dollar should be permitted.
Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.
When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.
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