INDEX 277price of gold in terms of the, 123
role of, in dystopian future, 2–3
slipping role of, as leading reserve
currency, 22–23, 189–95, 256,
x–xii
dollar index (DXY), cross rates mea-
sured by the, 257
dollar standard, 122
Dow Jones Index, rise and fall of the, 11
Downfall of Money: Germany’s
Hyperinflation and the Destruction of
the Middle Class, The (Taylor), 237–39
Draghi, Mario, 139
warning of deflation issued by, 28
Dubai
as an important emirate, 225
global gloom in, 226
major commercial real estate bubble
in, 225
revival of confidence in, 226
Dubai Mall
Dubai World, collapse of, 225
dystopian vision, 1–5
E
earthquakes
financial crisis likened to, 18
price instability likened to, 35
Ebola virus, as snowflake that will
cause the financial avalanche, 245
economic history, limited role of, in
dystopian future, 2
economic recovery, 25–26, 256
Eichengreen, Barry on reserve curren-
cies, 21
Eliot, T. S., 25
emergency powers, 247–48
emerging markets, as a carry trade at
risk of U.S interest rate hikes, 219–20
energy production, 80, 86–93
bust in, 200
energy, supply of and demand for,
87–88
England. See United Kingdom
equilibrium models, failure of, 181–84
Erdoğan, Recep Tayyip
domestic and international implica-
tions of election of, 223
pro-Muslim politics of, 223
Essay on Economic Theory (Cantillon),
42
ETFs, as possible ultimate bearers of
risk in junk bond meltdown, 90
euro, dollar price of, 123
Evans, Charles, inflationary goals of, 69
excess reserves, interest paid on, 50–51
exchange rates. See also currency wars
among forms of money, 149
as gauge of hyperinflation, 49
stability and instability in, 124
expatriation, trend upward in, 250
exports, currency wars ostensibly pur-
sued to increase, 124
Exxon Mobil, as example of company
relatively unharmed by coming bust, 93F
Federal Communication Commission
(FCC), rule issued by, to lock down
money market funds, 19
Federal Deposit Insurance Corporation
(FDIC), interest paid on excess
reserves to fund the, 50–51
Federal Open Market Committee (FOMC)
divided views within the, 105–106
expected policy of, 106–107
rotation among members of,
104–105
Federal Reserve (Fed)
as central planner, 178
complicated and multifaceted struc-
ture of, 103–105
dual mandate of, 114, 177–78, 199
effects of projected monetary tight-
ening by, 102
expansion of, beyond its legitimate
role, 177–78
expansion-contraction dynamic
engineered by, 15
financial warning given by, 11
inflationary threat caused by, in
fighting deflation, 17