Sentences with phrase «currency system collapses»

Not exact matches

The digital currency movement achieved liftoff at a moment when the global financial system appeared to be on the verge of collapse.

The tendency is for banking systems — and the currency — to collapse after such bubbles, as falling prices for their real estate collateral (aggravated by an exodus of flight capital) hollow out the banking system's balance sheets.

Soon after the Canadian dollar was floated the Bretton Woods system collapsed, and by 1973 all major currencies were floating against the US dollar.

is the author of the international bestsellers Currency Wars and The Death of Money: The Coming Collapse of the International Monetary System.

Iceland's banking sector was allowed to grow to a disproportionate size relative to Iceland's GDP, including by offering foreign currency savings accounts at attractive interest rates, which implicitly put the Icelandic government, and therefore the Icelandic people, on the hook for ultimately repaying other countries when Iceland's banking system collapsed and a systemic Icelandic bank run occurred.

Particularly, in a situation such as that which exists today, where the shadow banking system responsible for much of the last few years of credit expansion is now dramatically contracting outside any possible control of the central banking authorities, there is no alternative but deflationary collapse with a concomitant moon shot in the value of the world's reserve currency v. all other asset classes.

The collapse of Bretton Woods system in 1973 and the shift of major currencies to floating exchange rate regimes lessened the reliance on the SDR as a global reserve asset.

There has been a great deal of speculation about the collapse of the European common currency, the Euro, should Greece withdraw from the Euro or if Spain's banking system collapses.

Mike replied: «Bitcoin is collective insurance against the collapse of fiat currency systems.»