Economist’s “News and Views” Monday 4-29-2024


New Gold Standard Actually Seems Like A Possibility Today—Here’s Why

Forbes Breaking News:  4-29-2024

Steve Forbes explains how a new gold standard may be taking hold across the globe, and why this is a very, very good thing for the economy.

Why EU is Dying? BRICS on the rise

Fastepo:  4-29-2024

French President Emmanuel Macron has identified several major challenges facing the European Union that highlight the need for substantial reform and strategic redirection.

 Macron points out the EU’s over-reliance on external powers such as the US for defense, Russia for energy, and China for industrial production as a significant vulnerability that limits the EU’s autonomy and undermines its sovereignty.

This dependence is particularly concerning given the ongoing war in Ukraine, which not only presents immediate security risks but also destabilizes the continent, emphasizing the need for the EU to develop an independent defense posture.

 Additionally, internal vulnerabilities within the EU itself, such as systemic weaknesses and a slow pace of change are on the rise. In light of these challenges, Macron advocates for the EU to expand its strategic influence in global affairs by fostering a global engagement strategy.

This would involve expanding relations with emerging economies and diversifying its diplomatic and economic partnerships to ensure a more balanced global presence.

Additionally, there is a strong push within the EU to enhance its military capabilities to operate independently of NATO and the US. This includes the development of a collective missile defense system to bolster its security autonomy.

However, Macron’s vision for strategic autonomy has provoked a spectrum of reactions across Europe. While some member states, particularly those in Eastern Europe, express apprehension about distancing from the US, others are in favor of advancing towards greater self-reliance.

 Lastly, to become a more balanced global actor, the EU is urged to strengthen its technological and industrial base. This involves reducing reliance on non-EU countries for critical resources and technologies, thereby enhancing its capacity to act independently on the global stage.

These initiatives reflect Macron’s broader agenda to rejuvenate the European project and secure its sovereignty and influence in an increasingly multipolar world.


Greg Mannarino:  4-29-2024