I thought Overstock bought the rights for Bed Bath & Beyond? I think the CEO was on CNBC talking about it a few weeks ago. Another reason the US dollar has been the reserve currency for so long (besides the military) is that a lot of nations historically invalidate scripts, but the US hasn't done it since Reconstruction (the period of unification & reconciliation after the end of the US Civil War) and that was only if you used the currency from the southern Banks. I don't think a commodity based reserve would work. That is what was historically used as currency but the Romans didn't have a fractional reserve banking system. Modern banking systems are incompatible with a one for one barter system. Austrian economics is a joke. I mean we can go back to pre-Fannie Mae where only rich people can own homes aka pre-Depression.
That's exactly the point. They don't want to have reserves in US$. Its quite ridiculous with BRICS GDP double of USA they collectively finance USA deficit and military as part of that and also sanctioned for that all the time and like in Russian case money just taken away. So yeah stakes are high in this game
Hehehe (Bloomberg) Currency Alarm The renewed advance in the US dollar is raising alarm in Asian countries as currencies there fell to multi-month lows, prompting authorities in Japan and China to step up defense of their beleaguered exchange rates. Japan issued its strongest warning in weeks against rapid declines in the yen, with its top currency official saying the nation is ready to take action amid speculative moves in the market — the currency pulled back from a 10-month low after those comments from Masato Kanda, vice finance minister for international affairs. “If these moves continue, the government will deal with them appropriately without ruling out any options,” he said. China’s central bank also offered some of its most forceful guidance with its daily reference rate for the yuan, as the managed currency weakened toward a level unseen since 2007.
always read the fine print, not the headline. what you read is not what you read. https://www.bedbathandbeyond.com/faq Will buybuy BABY or Harmon be returning? buybuy BABY and Harmon are no longer affiliated with the new Bed Bath & Beyond.
one currency replacing another won’t work, will run into the same predicament in later time. brics swap line is based on trades, while probably most of them lack of usd to settle world bank and imf obligations when fail. now they can draw china’s usd reserve and pay back in commodities, a slight relief.
Fahget the importance of the Dollar, it seems The World According to Marvelous Merv, it's all about Department Stores:- Welp .... https://apnews.com/article/jcpenney...tm_campaign=newsletter_axioscloser&stream=top
don't remember i ever shopped at jcp, my wife would put me in the dog house if i did, saks is a go to stop at minimum, nordstrom next. but back to your article, this is a typically american ceo hubris, spending 1b to save his own plum job, why not let the stores die and get it over with.
Except its not his own plumb job. That happened looong before 2021. But I guess he should have done it the Roosky way and run out of stock, inferior stock at that. America had a toilet paper shortage for a couple of months during the pandemic. Russia is still waiting on their 1982 shipment lol.