Answer the below question/topic using a U.S. perspective. 500+ words + citations. Use the following ebook URL. (Chapters 12, & 18) …. https://kettine.com/?
download_file=367190&order=wc_order_mWKH64FsdLJfx&uid=69b93f3e48f9ab22c60bdd4dbcb958ac2f66045f9be3eaf1ea250d23033203c7&key=0f4f2d1e-e300-45eb-b732-f514eeb75436 …. also use the following news articles and attached documents.
https://knowledge.insead.edu/blog/insead-blog/corporate-funding-gap-and-the-role-of-fintech-14766
https://www.bloomberg.com/news/features/2016-11-29/the-man-who-invented-libor-iw3fpmed
Topics/questions…
Currencies, since their inception, have been regulated by the respective Governments and in more recent times by Central Banks. The latter, while receiving their mandate and power from the Governments, are regarded as ‘independent’ in their activities and decisions.
Then the Petrodollars created the Eurocurrency market and offshore banking, an attempt to subtract a big swat of the market to the influence of Governments and Central Banks.
But the above may be considered monetary issues of the 20th century. In the current century, the most advanced economies have dispensed with cash, replacing it with ‘plastic’ and/or digital currency: Fintech, bitcoin and blockchain.
Is this yet another attempt to circumvent the actions of Governments and Central Banks?
We have seen what happened to LIBOR; what can we anticipate for digital currencies in the future?
If we look at world markets through the prism of Covid-19 and its disruptions, does globalization and international trade need the gentle guidance of supranational entities, be it WTO, IMF or Central Banks?
