Is the era of the dollar coming to an end?
Following recent proposals in South America and Eurasia, it would appear as if the US dollar is set for further decline. Brazil’s Lula, and the government of Iran, have both proposed new shared currencies in their respective regions, seeking an end to US dollar dependency, and greater cooperation within South America and the Shanghai Cooperation Organisation
NFTs: the drip tray of fictitious capital
James Meechan takes a deep dive into the world of cryptocurrency, and it’s latest subordinate, NFTs
Fictitious capital, inflation, and deficits: the political economy of our times
Grant MacDonald writes on Marx’s theory of fictitious capital and how finance has altered the global economy
Cambridge research reveals absurd amount of energy dedicated to Bitcoin mining
Campaigners against climate change have been shocked with a new statistic from Cambridge University researchers who have revealed that Bitcoin mining now consumes more energy than the entirety of Argentina, around 121.36 terawatt-hours a year. Bitcoin is a blockchain cryptocurrency that relies on verifications from computers within its network to maintain the integrity of transactions within the system. Computers that partake in this process are sporadically rewarded with the bitcoin currency, and this process is known as ‘mining’.
