Why the Filet-O-Fish Is My Gold Standard for Fast Food

One of the first Chinese McDonald’s opened on April 23, 1992, in Beijing, the largest in the world, at the time. I never got to eat there: My mother was busy packing our things. Two weeks after it opened, she and I were on a plane bound for Montreal to join my father, who was then completing a postdoc that would leave him broke for years. What I remember most from that period was how little we did. My mother worked weekend shifts at a sock factory, while my father took over at home. He studied in our one-bedroom apartment, and I watched TV. On special occasions, we went to McDonald’s.

In Canada, just like in China, eating at McDonald’s was a novelty for us. In the wake of post-Mao economic reforms, the belated introduction of the Golden Arches to China represented a whole ethos about what constituted the good

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The Capital Note: Gold, Swedes & Guevara

Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: The New Gold Rush, Sweden’s Corporate Health, the Return of Target 2, plus some stories from around the Web and an introduction to Che Guevara, central banker.

The New Gold Rush
Gold reached a record high of $2,000 an ounce on Monday. With real yields on Treasuries at record lows, investors are turning to precious metals as an alternative store of value. Meanwhile, the trade-weighted dollar index has fallen 5 percent since its May high. Some analysts have gone so far as to forecast the decline of the dollar as the global-reserve currency.

Data: London Bullion Market Association <br>Graph: Daniel Tenreiro
Data: London Bullion Market Association
Graph: Daniel Tenreiro

Oh, the vagaries of markets. In March, economists were warning of a dollar shortage. A global dash for cash early in the crisis brought the dollar index up 8

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