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The World Needs Currency Leadership

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By Douglas A. McIntyre Published
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By John Tamny of RealClearMarkets
“I have lost money in sterling. I have lost money in dollars. I have never lost money by holding gold.” – A Scandinavian bank president, Economics and the Public Welfare, p. 254

Now that the dollar has risen from modern lows against most major foreign currencies, many commentators have begun to suggest it is fulfilling its historic role as the world’s reserve currency. Due to greatly heightened uncertainties in the financial world, the dollar is said to be reasserting its strength.

It would be more realistic to say that the dollar’s weakness is presently being masked by what H.C. Wainwright’s David Ranson and Penny Russell once referred to as “another classic run on paper currencies.” The dollar is only strong right now insofar as other currencies are very weak.

Read more….

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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