World commercial expansion is dependent on payments made in the U.S. dollar, a currency that all nations -- except the U.S. -- have to earn through export surpluses, or go into debt.
Representation in its basest sense has come to stand in place for actual change when no change is happening at all.
U.S. Treasury Secretary Jack Lew announced Wednesday that the revised $20 bill will feature the portrait of the legendary abolitionist Harriet Tubman. What better tribute to her lifetime of struggle?
The dollar rising with the oil price is merely a confirmation that most financial traders think the same way -- not confirmation that Canada's "fundamentals" have been enhanced by higher oil prices.
A report recently released by the Macdonald-Laurier Institute claims Canada does not suffer from Dutch disease. Unfortunately, the studies the authors draw on for this conclusion are riddled by it.
Want to know why Canada's currency is sky-high despite our sluggish recovery, our large and persistent current account deficit, and our lousy export performance?
The most interesting comments from Mark Carney last week, in releasing the Bank's semi-annual Monetary Policy Report, dealt with the relationship between the price of oil and the Canadian currency.
If it gains a majority, the Harper government plans to issue a new $5 coin from the Royal Canadian Mint with the profile of Stephen Harper sharing space with that of Queen Elizabeth II.
Seoul G20 flops.
As the host of the Toronto G20 summit, Canada sabotaged the French/U.K. proposal to introduce a bank tax, and refused discussion of a Financial Transactions Tax. This set the stage for the Seoul flop.