A dinâmica dos mercados financeiros globais e as contradições da política monetária americana face à globalização financeira

Resumo

This article shows the dynamics of the US monetary system where
capital markets — forced to perform a daily evaluation of assets (foreign
exchange, securities, and property) — prevail. It also reveals that this way
of managing resources has been forced to the world as a paradigm: financial
operations started to occur in a global space, stemming hierarchically
from the US financial system, and being made possible by the monetary
policies of the hegemonic nation, and imitated by developed and developing
countries. Moreover, it describes the dilemma of the US monetary policy in
view of its internationalization and domestic interests during the crisis in
the Asian Southeast and Rússia. In a post face the author describes the
dynamics of the valuation and devaluation cycle of financial resources in
u s stock exchanges from the third quarter 1999 to the second quarter
2000.