Uncle Scrooge's Economics

The world has been talking about de-dollarization for a long time now, but implementing the planned measures isn't as easy as it looks. Dethroning the dollar as the world's reserve currency is like the 9th wounder. Everyone fantasizes about it, but no one has the ability to do it. The dollar has so much dominance that if the FED (US Central Bank) stopped circulating the dollar, we would literally die of hunger or hyperinflation. Reducing the dollar supply is like reducing the oxygen content of the atmosphere. More than 80% of global trade is conducted in dollars. If the FED decreases the supply, global trade would be significantly affected, leading to increased import prices, followed by a big cut to our wallets. Dollar has been a dominant currency since the second world war.  Even though major countries like Australia, Saudi Arabia, Russia, Singapore, India, and Sri Lanka have been talking about using the Indian rupee as an alternative, the dream is still in the initial stages...

  Jesse Livermore's life has been a bigger roller coaster than one present at the Ferrari World. But may it be life or an amusement park, roller coasters do come to an end, and in the case of Jesse, the roller coaster had a brutal stop. Who was Jesse Livermore? What is his story? How is it possible that a boy from a poor refugee family went on to become America's biggest speculator, registered three bankruptcies, owned a yacht, and eventually killed himself? Buckle up your belts because we are about to start the roller coaster. Enjoy.   Born on July 26, 1877, in Massachusetts to a very poor family, Jesse had the urge to earn money from the beginning. His father was a farmer, and his mother was a housekeeper. His father never really paid attention to him, but his mother realized from the very beginning that he was a gifted child because, at the age of three and a half, he was able to read and write, and by the age of five, he was already reading financial newspapers. In f...

George Soros is one of the most influential investors and traders out there. It isn't as easy as it looks to manage trading and investments at the same time. Even though he gives the world, especially India, many reasons to hate him, we should think rationally and have an open mind to absorb his learnings. Out of the many successful trades undertaken by George Soros, this one has the characteristics to stand out. He has famously said that it doesn't matter whether you are right or wrong. What matters is how much you lost when you were wrong and how much you made when you were right. Today, we will talk about one such trade that made people call Mr. Soros a crook and a genius at the same time. For all those historophiles, fasten your seat belts because the amount involved in this trade will surely give you goosebumps. The event dates back to the 1992 currency crisis that forced the British government to withdraw from the European exchange rate mechanism and devalue its currency,...