Collusion_How Central Bankers Rigged the World Page 56
Sánchez, Manuel, 42
Sanders, Bernie, 142
Sarkozy, Nicolas, 185, 194
Sartori, José Ivo, 85
Schäffler, Frank, 210
Schäuble, Wolfgang, 206, 215, 222, 223, 228
as Architect of Austerity, 246
on Draghi, 235–236, 242
on ECB, 237
on EU, 239
on loose monetary policy, 243
Schulz, Martin, 211
SDRs. See special drawing rights
SELIC. See Special System for Settlement and Custody
September 11 terrorist attacks, 91
Serra, Jose, 61, 73
Sharp Corporation, 149
Sheets, Nathan, 26
Shinzo Abe, 133, 179
on BOJ, 149–150
cheap money and, 151
on fiscal responsibility, 158
on future growth, 172
on market stability, 170
policies of, 158, 161
Putin meeting, 175
Trump meeting, 174
on yen, 159, 164
See also Abenomics
Shoichi Nakagawa, 139
Silva, Marina, 70
Singer, André, 54
small and medium-sized enterprises (SMEs), 43
Smits, Frank R., 154
SNB. See Swiss National Bank
Sobel, Clifford, 55
Soeder, Markus, 211
SOEs. See state-owned enterprises
Sony, 143, 147, 149
Spain, 185, 198
special drawing rights (SDRs), 11–12, 234
by IMF, 88, 96–98, 116, 121, 123, 129, 250
RMB and, 250
yuan and, 126–127
Zhou Xiaochuan on, 127
Special System for Settlement and Custody (SELIC), 67
BCB and, 59, 61, 85–86
Meirelles and, 57
raising of, 70
speculative bubbles, 128, 253
state-owned enterprises (SOEs), 111
Stephansen, Kathleen, 31
Stiglitz, Joseph, 187–188, 252
Strauss-Kahn, Dominque, 38, 101, 189, 194
subprime crisis, 2, 17, 55
Sumitomo Mitsui, 142, 144, 169
Summers, Larry, 24, 220
supranational reserve currency, 96
swap lines, 8, 26, 150, 169, 184, 186, 238
Swiss National Bank (SNB), 140, 142, 150, 155, 184, 201
currency swaps, 212, 218
Takahide Kiuchi, 162
Takashi Okuda, 147
A Tale of Two Cities (Dickens), 127
targeted longer-term refinancing operations (TLTRO), 233
tariffs, 68, 109, 153, 176
Tarō Asō, 139, 155, 160, 171
Taylor, John B., 18
Temer, Michel, 77, 80, 82, 84, 86
tequila crisis, 21, 34
Thain, John, 21
Thompson, Adam, 36
TLTRO. See targeted longer-term refinancing operations
Tokyo Stock Exchange Price Index (TOPIX), 144, 170
Tombini, Alexandre
on bank spreads, 64
as BCB head, 61–63, 68, 78
on global fragility, 66
inflation and, 71
money-conjuring by, 71
policies of, 75
rates and, 67
on spending cuts, 76
TOPIX. See Tokyo Stock Exchange Price Index
toxic assets, 2, 16, 55, 100
Toyota, 143, 147–148, 152, 162
Trans-Pacific Partnership (TPP), 128, 153, 176–177
Trichet, Jean-Claude, 17, 30, 32, 42, 142
as Banker of the Year, 2007, 184–185
on Bernanke, 193, 197–199
as ECB head, 181, 185
as euro guardian, 201
on Zhou Xiaochuan, 199
See also Europe, Trichet and
Triffin, Robert, 96
Tripartite Bank Governor’s Meeting, 97, 140
troika, 13, 41, 160, 225, 228
See also European Central Bank; European Commission; International Monetary Fund
Trump, Donald, 126
as antiestablishment, 249
antitrade policies of, 239
Carstens on, 50–51
China and, 12
election of, 127, 244–246
isolationist and protectionist policies of, 129–130, 245
Japan and, 176–179
May meeting, 244
Mexico and, 12, 51–52
on NAFTA, 52
Shinzo Abe meeting, 174
wall and, 49–50
on Yellen, 168
Tsipras, Alexis, 73, 226, 227–228, 230
unemployment, 191, 218, 219
United States (US)
Banco de México and, 15
cheap money in, 93
developing nations and dogma, 30, 81–82
dollar in Mexico, 30–31
financial crisis of 2007–2008 ignited by, 247
GDP, 192
Mexico collaboration, 16–19, 30
Mexico trade, 48–49
money-conjuring in, 254
Ortiz dollars announcement, 22–23
Ortiz ties with, 18
speculators in Brazil, 79–82
as superpower, 5
See also Federal Reserve
Varoufakis, Yanis, 227–228
Videgaray, Luis, 47
Videgaray Caso, Luis, 40
Villeroy, François, 237
Wagenknecht, Sahra, 245
Wall Street, 2, 19, 21, 31
aftershocks, 46
bailout, 30
as casino, 142
central banks and, 249
cheap money and, 3, 6
the Fed and, 25
profits, 159–160
recovery on, 43
in twentieth century, 7
Wang Qishan, 99, 102, 105
wealth gap, 9
Weber, Axel, 213
Weidmann, Jens, 208, 211, 219, 222, 226, 234
Wells Fargo, 2
Wen Jiabao, 91, 94–95, 101, 103
Williams, John, 172, 240
Wilson, Woodrow, 4
World Bank, 5, 8, 29, 81, 200
criticism of, 109
funding, 73, 101, 120
as old world order, 214
World Economic Forum, 16, 71, 119, 127, 160, 189, 253
World Economic Outlook, 118, 231
World Trade Organization (WTO), 175
Xi Jinping, 50, 107, 109, 112, 115
on economic growth, 123
on globalization, 127–178
on risks, 114
trade ties and, 176
Xian Zhu, 116
Xie Xuren, 102
Yang Jiechi, 94, 102
Yellen, Janet, 7, 110, 114, 154, 224, 240
on Brexit, 238
on economic performance, 164
on economic strength, 169
as the Fed head, 111, 156
on monetary policy, 220
opposition to, 234
on rate increases, 172
Trump on, 168
yen, 199
Abenomics and, 155
appreciation of, 142–143, 145–146
BOJ and, 201
depreciation of, 147, 152, 162
G7 banks on, 137, 153
Lew on, 161
Shinzo Abe on, 159, 164
Yi Gang, 98, 106, 113
Yoshihiko Noda, 103, 146
yuan, 12, 106, 119
devaluation in, 117
ECB and, 113–114
Geithner policy, 99, 105
IMF on parity, 117
as most used, 219
PBOC and, 105, 174
SDRs and, 126–127
Zhou Xiaochuan on, 109
Yukio Hatoyama, 141
Zapatero, José Luis Rodríguez, 196, 201
Zedillo, Ernesto, 28
zero-interest rate policy (ZIRP), 56–57, 63, 67, 155–156, 1
64, 202
Zhou Xiaochuan, 32, 107, 148
critique from, 99–100
on dollar, 234–235
on economic growth, 129
on exchange rates, 112
on floating exchange rate, 110
on gold standard, 113
intuition of, 88–92
Lagarde and, 102, 122–123
Latin America cooperation and, 121
leading charge, 93
MOU signed by, 116
as PBOC head, 87–88, 109, 120
on reform, 95–96
respect for, 114
retirement of, 130–131
on SDRs, 127
on stopping contagion, 103
on trends, 111
Trichet on, 199
on yuan, 109
Zhu Rongji, 108
ZIRP. See zero-interest rate policy
The Nation Institute
Founded in 2000, Nation Books has become a leading voice in American independent publishing. The imprint’s mission is to tell stories that inform and empower just as they inspire or entertain readers. We publish award-winning and bestselling journalists, thought leaders, whistle-blowers, and truthtellers, and we are also committed to seeking out a new generation of emerging writers, particularly voices from under-represented communities and writers from diverse backgrounds. As a publisher with a focused list, we work closely with all our authors to ensure that their books have broad and lasting impact. With each of our books we aim to constructively affect and amplify cultural and political discourse and to engender positive social change.
Nation Books is a project of The Nation Institute, a nonprofit media center established to extend the reach of democratic ideals and strengthen the independent press. The Nation Institute is home to a dynamic range of programs: the award-winning Investigative Fund, which supports groundbreaking investigative journalism; the widely read and syndicated website TomDispatch; journalism fellowships that support and cultivate over twenty-five emerging and high-profile reporters each year; and the Victor S. Navasky Internship Program.
For more information on Nation Books and The Nation Institute, please visit:
www.nationbooks.org
www.nationinstitute.org
www.facebook.com/nationbooks.ny
Twitter: @nationbooks