Fin-Fi (Finance Fiction) and Putin’s war

Questions about the future of the dollar-based financial order in light of Russia’s invasion of Ukraine have spawned a genre of future-orientated Finance-Fiction all of its own.

There is a huge asymmetry in the world right now between the financial system that remains spectacularly euro-dollar centered and the new multipolarity of power, trade and economic activity.

Given this asymmetry there is a fascination in the cultural and political sphere with the way this glaring asymmetry could be overcome. Not only that, there is a positive desire to see the asymmetry overcome. There is a relish in the discomfiture of the West. The euro-dollar lock feels like the final frontier of Western power, long overdue for overthrow.

Fin-fi is one of the media in which that sense of impending historical change expresses itself.

Given the situation from which it emerges we should read the proliferating genre of Fin-fi symptomatically. It expresses a world historic tension.

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