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Keyword: currencies

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  • The Greater the Turmoil, the Stronger the US Dollar. Again.

    02/10/2014 8:30:23 AM PST · by SeekAndFind · 6 replies
    New York Times ^ | 02/10/2014 | Jeff Sommer
    Chronic problems have been flaring up in financial markets lately, and some of them may emanate from the United States. Yet none of these issues have seriously damaged the exalted status of what Washington Irving once called “the almighty dollar.” In fact, a familiar pattern has been emerging: When the world’s financial system runs into trouble, the position of the dollar as the world’s crucial currency becomes more formidable. Eswar S. Prasad, a Cornell economics professor and senior fellow at the Brookings Institution, has written a thoughtful new book that clarifies this counterintuitive phenomenon. Its title is “The Dollar Trap:...
  • 10 Countries Hoarding Enormous Stockpiles Of Gold

    01/16/2013 6:51:59 AM PST · by blam · 17 replies
    TBI ^ | 1-16-2013 | Mamta Badkar
    10 Countries Hoarding Enormous Stockpiles Of Gold Mamta BadkarJanuary 16,2013AP Photo/Newmont Mining Germany is reportedly repatriating gold it has stashed with the New York Fed and the Bank of France, and some policymakers want to bring back all their gold in case the financial crisis worsens. People continue to debate whether gold is or should be considered money. However, this hasn't kept the world's central banks from increasing their gold reserves. The World Gold Council estimates that central banks have purchased 500 tons of gold in 2012, up from 465 tons last year. Analysts attribute some of the support in...
  • Keiser Report Episode 271 with Jim Rickards (Currency Wars author)[Video]

    04/10/2012 10:43:29 AM PDT · by Razzz42
    rt.com ^ | April 8, 2012 | Max Keiser talks to Jim Rickards
    In the second half of the show, Max talks to Jim Rickards about a BRICS currency, gold and the fog of currency war.
  • China and Japan Agree to New [Dollarless] Currency Dealings

    12/26/2011 5:51:06 PM PST · by DeaconBenjamin · 6 replies
    NY Times ^ | December 26, 2011 | By EDWARD WONG
    China and Japan have agreed to start direct trading of their currencies, officials announced during a visit here by Japan’s prime minister, Yoshihiko Noda. The move was among several that emerged from Mr. Noda’s meetings with President Hu Jintao. Japan will also apply to buy Chinese bonds next year, allowing it to accumulate more renminbi in its foreign-exchange reserves. China is the world’s second-largest economy while Japan is the third largest, and the currency agreement is part of a move away from using dollars. Chinese officials have said recently they would like to broaden the global use of the renminbi,...
  • Are You Prepared For What’s Coming?

    11/16/2011 1:18:45 PM PST · by blam · 106 replies · 1+ views
    The Market Oracle UK ^ | November 16, 2011 | Michael Burnham
    Are You Prepared For What’s Coming? Stock-Markets / Financial Markets 2011 Nov 16, 2011 - 05:35 AM Michael A Burnham writes: The US$ is the world reserve currency and a huge amount of it is used in international commerce and held in foreign banks. What is the real value of the US$ or any currency for that matter? Money is no longer backed by gold or anything other than “good faith”, thus coined “fiat currency". Whenever the US Treasury runs short of money, it auctions Treasury notes…IOUs. But since there are fewer interested buyers in the world today, it then...
  • Fears Of Iran Nuclear Weaponizing Lead To Brent Break Out

    11/08/2011 8:48:24 AM PST · by jhpigott · 3 replies
    11/07/2011 10:16 -0500 What is today's most underreported news of the day, and the reason Brent is breaking out, is that according to WaPo, IAEA is about to report that Iran is on the verge of becoming a nuclear state: needless to say this is just the green light all of its enemies need to launch a pre-emptive strike (not to mention, GDP-boosting). Below is some must read commentary from Emad Mostaque of Religare Capital Markets on what this IAEA finding will mean for the region, for the world and for what really matters: capital markets. The IAEA report on...
  • Load Up On Gold and Silver As Bernanke Dives Off The Deep End

    10/06/2011 12:23:14 PM PDT · by blam · 21 replies
    TMO ^ | 10-6-2011 | Money Morning
    Load Up On Gold and Silver As Bernanke Dives Off The Deep End Commodities / Gold and Silver 2011 Oct 06, 2011 - 07:41 AM By: Money Morning Martin Hutchinson writes: I first thought U.S. Federal Reserve Chairman Ben Bernanke was being deceitful when he denied the existence of inflation - but now I'm beginning to think he's simply delusional. Anyone who watched or listened to Bernanke's Oct. 4 congressional testimony must have reached the same conclusion. "Persistent factors continue to restrain the pace of recovery," Bernanke said. Then the Fed Chairman promised to consider yet more stimulus "to promote...
  • Michael Pettis: 12 Global Predictions

    08/23/2011 1:02:45 PM PDT · by Kaslin · 5 replies
    Townhall.com ^ | August 23, 2011 | Mike Shedlock
    Via email, Michael Pettis at China Financial Markets shared his outlook for China, Europe, and the world. The overall outlook is not pretty, and includes a breakup of the Eurozone, a major slowdown for China, and a smack-down of the much beloved BRICs. Pettis Writes ... August is supposed to be a slow month, but of course this August has been hectic, and a lot crueler than April ever was. The US downgrade set off a storm of market volatility, along with bizarre concern in the US about whether or not China will stop buying US debt and the economic...
  • What's Driving Silver Prices? (Thoughts?)

    08/08/2011 1:33:39 PM PDT · by OB1kNOb · 67 replies
    Vanity ^ | 8/8/11 | OB1
    As I type this, the Dow is down over 600 points. Gold shot from $1,660 on Sunday to $1,717 currently, while silver dropped last Friday to $38.32, then up to above $40 on Sunday, and has dropped today down to $38.94 currently. What's driving the whipsaw pricing on silver? Thoughts were Friday's downturn was driven by forced sales of silver investors needing to cover other positions, then Sunday saw overseas markets drive price back above $40. Is today's market slide causing more forced silver sales to cover other positions today, or are there other dynamics at work? I read earlier...
  • The Choice With Currencies Today: Fixed Or Floating? Fooling with currencies is always destructive

    06/03/2011 7:47:50 AM PDT · by SeekAndFind · 6 replies · 1+ views
    Forbes ^ | 06/03/2011 | Nathan Lewis
    Technically, pegging a currency to gold--via some automatic mechanism like a currency board--is no different than pegging it to the euro or dollar. There's nothing inherently difficult about it. Eventually, one might conclude that gold is a better thing to peg to than the euro or dollar. Just read the newspapers and see what Ben Bernanke or the ECB are doing with their floating fiat currencies. Who wants to be a part of that? The Keynesians, at first, will typically try to insist that this is not possible at all. They insinuate that currencies are naturally free-floating, and that to...
  • Euro/Dollar Could Trend Towards $1.29: Charts (USD Strengthening vs the Euro)

    05/25/2011 12:40:32 PM PDT · by SeekAndFind · 12 replies
    CNBC ^ | 05/25/2011 | Daryl Guppy
    The Euro/Dollar achieved the $1.49 target we set on CNBCAsia Squawk Box in March. There are three chart characteristics to the EuroDollar behaviour on the weekly chart. The first is the role of the up sloping trend line A. This trend line originally acted as a support level until it was broken in November 2010. The line was then projected forward and it changed its character to become a resistance level. This is not a perfect placement of the line, but it capturers the up trending behaviour in 2011. The reaction away from the $1.49 level confirms trend line A...
  • If The Gold Standard Is So Great, Why Aren't We On One Now?

    05/21/2011 9:18:55 AM PDT · by SeekAndFind · 23 replies · 1+ views
    Forbes ^ | 05/21/2011 | Nathan Lewis
    Sometimes people ask me: If the gold standard is so great, why aren't we using it right now? This is a good question. The basic answer is that it would prevent central bankers, and governments, from doing something they have become very fond of over the past several decades--attempting to solve their economic difficulties with some sort of "easy money" policy. You can see this remains very popular today. The Classical viewpoint is that any form of currency instability causes economic problems. An economy functions best when the currency is as stable and reliable as possible. In practice, this always...
  • People’s Bank of China Positive On Gold Due To ‘Value Preservation’; Concerned about Paper Money

    03/25/2011 9:12:53 AM PDT · by SeekAndFind · 5 replies
    ZeroHedge ^ | 03/25/2011 | Tyler Durden
    People’s Bank of China Positive on Gold due to ‘Value Preservation’; Concerned About Euro, Dollar and Paper Currencies Gold and silver remain supported by continuing macroeconomic and geopolitical uncertainty. Inflation, the European sovereign debt crisis, conflict in Libya and the wider Middle East and the nuclear disaster in Japan are all factors which will likely result in gold reaching new record nominal highs in all currencies sooner rather than later. Gold and silver’s record highs yesterday were barely reported in the non financial press and media yesterday which is another sign of the lack of animal spirits and popular participation...
  • Optimal Currency Areas and Optimal Free-Trade Areas: The Case for Economic Borders

    03/09/2011 8:47:14 PM PST · by ianfletcher · 8 replies
    Seeking Alpha ^ | February 25, 2011 | Ian Fletcher
    Why have nations at all, economically speaking? This question is provoked by the fact that every few months, without fail, somebody writes to me and asks why, if the protectionism I advocate between the U.S. and the rest of the world is rational, why isn't it rational to have tariffs between the various states of the U.S.? And since it clearly doesn't make any sense to have tariffs on trade between, say, California and Oregon, it follows that nations shouldn't practice economic protectionism either. Sounds good. In fact, some people proffer this argument as if it, on its own, settled...
  • Gold and Money : A rational discussion about Gold

    02/25/2011 7:19:58 AM PST · by SeekAndFind · 9 replies
    The Freeman ^ | 02/25/2011 | Warren Gibson
    Nothing seems to arouse passions—pro and con—quite like suggestions that gold should once again play a role in our money. “Only gold is money,” says one side. “It’s a barbarous relic,” says the other. Let’s turn down the heat a bit and look into some propositions about gold. That should lead us to some reasonable ideas about whether or how gold might return.Propositions About Gold Gold has intrinsic value. Actually, nothing has intrinsic value. The value of any good or service resides in the minds of individuals contemplating the benefits they might derive from it. What gold does have is...
  • Safe Haven Currencies are in Demand (Ironically, the USD is one of them)

    11/24/2010 7:22:32 AM PST · by SeekAndFind · 14 replies
    Green Faucet ^ | 11/24/2010 | Kathy Lien, Global Forex Trading
    Geopolitical tensions and continued worries about European sovereign debt troubles pushed investors into the safety of the U.S. dollar. The Spanish spread with Germany widened to record levels on concerns that Ireland's problems will spread to the fourth largest economy within the Eurozone. Portugal will likely fall first but investors could turn on Spain shortly thereafter. Stronger than expected U.S. economic data also helped to lift the dollar with third quarter growth revised significantly higher. Between July and September the U.S. economy expanded by 2.5, up from a previous forecast of 2.0 percent. The pickup in growth was driven entirely...
  • China's overvalued yuan

    11/17/2010 7:37:10 PM PST · by smokingfrog · 6 replies · 2+ views
    Marketwatch ^ | 16 Nov 2010 | Lu Min
    Commentary: Looking at forex through lens of recent Chinese policy BEIJING (Caixin Online) — Regional Asian central banks have swiftly intervened to prevent the appreciation of their currencies, fanning tensions in an already heated global currency discussion. But the use of currency depreciation to revive exports only serves to introduce greater uncertainty and puts economies on a path toward weak recovery. The stimulation of exports to promote economic growth remains an essential pattern of growth for countries around the world. Because of this, several economies have made reciprocal moves to depreciate their currencies. And yet with so many central banks...
  • Some OPEC Members Push for $100 a Barrel Oil (Warns of the consequences of a Dollar devaluation)

    10/15/2010 9:50:01 AM PDT · by WebFocus · 7 replies
    Daily Finance ^ | 10/15/2010 | Hugh Collins
    Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar. The value of the dollar, which has slipped 13% since June against major world currencies, means that the "real price" of oil is about $20 less than current levels, Venezuela's Energy and Oil Minister Rafael Ramirez said after Thursday's OPEC meeting in Vienna. OPEC, which accounts for 40% of global crude output, left targets unchanged and called for stronger adherence to production quotas, Bloomberg News said. "They're concerned about the dollar because as the dollar weakens, prices go up," Nordine Ait-Laoussine,...
  • When Will Gold Reach $10,000 An Ounce?

    10/10/2010 11:07:11 AM PDT · by blam · 32 replies
    Seeking Alpha ^ | 10-10-2010 | David Friedman-Wall St. Cheat Sheet
    When Will Gold Reach $10,000 An Ounce? by: Wall St. Cheat Sheet October 10, 2010 Gold bugs like gold because, unlike fiat money, gold has an inherent value to it. Its relative scarcity makes it more valuable than other things. It’s interesting, then, to list gold bugs’ arguments in favor of gold. Their main claim is that when governments devalue their currency, by letting inflation run rampant and taking on more debt than seems prudent, gold becomes an attractive investment vehicle. Never mind the problems with storing, moving, and securing gold, the gold bugs say: gold has inherent value that...
  • While You Were Sleeping, The Dollar Continued To Get Crushed

    10/01/2010 4:29:39 AM PDT · by blam · 14 replies
    The Business Insider ^ | Joe Weisenthal
    While You Were Sleeping, The Dollar Continued To Get Crushed Joe Weisenthal Oct. 1, 2010, 5:36 AM Or to put it another way, the US gained ground in the global competitive currency devaluation war.[snip]
  • Don't Be Fooled By The Market Calm, The TED Spread Is Still On Fire

    06/11/2010 7:11:46 AM PDT · by blam · 6 replies · 421+ views
    The Business Insider ^ | 6-11-2010 | Joe Weisenthal
    Don't Be Fooled By The Market Calm, The TED Spread Is Still On Fire Joe Weisenthal Jun. 11, 2010, 6:04 AM A couple days of stability in the European equity and currency markets should not (necessarily) be taken as signs of a major rebound in confidence. Notice there's been absolutely no slowdown in the ascent of the TED Spread of late, showing banks are growing less and less willing to lend to each other.[snip]
  • New Financial World 2012 And The End of Days Prophecy

    06/09/2010 7:13:30 PM PDT · by blam · 23 replies · 99+ views
    The Market Oracle ^ | 6-9-2010 | Christopher Laird
    New Financial World 2012 And The End of Days Prophecy Currencies / US Dollar Jun 09, 2010 - 02:46 PM By: Christopher Laird We talked several months ago about how our estimate of when the USD really hits the fan came to be around 2012. That was an accident, not intentional. We mentioned then that we found that very intriguing. That is because the USD is so central to our present financial world that, if it fell apart, the outcomes would be so severe that the financial world, and even just how money works, would be turned upside down. Then...
  • Gold Less Than $10 from a New All-Time High

    05/11/2010 10:28:20 AM PDT · by SeekAndFind · 24 replies · 583+ views
    Gold Seek ^ | 05/11/2010 | Peter Cooper
    Not only has the gold price sailed past the volatility of the last week in global financial markets, gold has positively benefited from the chaos and today put on $15 and at the time of writing is less than $10 short of its $1,226 an ounce all-time high reached last December. The question then is whether gold consolidates around the new $200 step-up at $1,200, when only recently passing the $1,000 goal-post was such a struggle and only achieved on the third heave, or heads much higher. Parabolic price rise? It maybe that this is the point at which gold...
  • Gold Chart is Ugly in Multiple Currencies (paper money is now outperforming the precious metal)

    01/27/2010 1:37:03 PM PST · by SeekAndFind · 9 replies · 739+ views
    Gains, Pains and Capital ^ | 01/27/2010 | Graham Summers
    Gold’s Chart is Ugly in Multiple Currencies Most commentators living in the states have made a big ado about Gold breaking to a new all-time nominal high back in the fall of 2009. I didn’t buy into the mania and wrote an article titled Three Reasons Gold Might be Making a Head Fake that was published on November 10, 2009. The primary point of the article was that Gold was struggling to hit new highs against most major world currencies. Sure, the precious metal had rallied impressively when denominated in Dollars. But you have to remember that the Dollar lost...
  • U.S. Dollar Set To Surprise By Falling To Test All Time Low

    11/30/2009 2:41:37 PM PST · by blam · 26 replies · 1,154+ views
    The Market Oracle ^ | 11-30-2009 | Captain Hook
    U.S. Dollar Set To Surprise By Falling To Test All Time Low Currencies / US Dollar Nov 30, 2009 - 01:48 PM By: Captain Hook The dollar ($) is set to surprise the few remaining speculators that think it can't happen by falling further straight away, possibly taking it down to test all time lows at 71. Here, we are talking about the possibility of a more disorderly decline in the $ developing as a result of gold progressing into a parabolic rise, primarily predicated on year-end hedge fund buying into December. First it will be this that takes precious...
  • Dollar sinks to fresh 14-year low vs yen

    11/27/2009 3:46:16 PM PST · by SeekAndFind · 7 replies · 471+ views
    RealClearMarkets ^ | 11/27/2009 | Malcolm Foster
    The dollar sank to a fresh 14-year low against the yen Friday as worries about Dubai's debt mountain drove investors to buy safe haven assets like the yen. Japanese Finance Minister Hirohisa Fujii called the yen's surge "a very serious situation." He said Tokyo will take appropriate measures as needed, suggesting that Japan may cooperate with the U.S. and Europe to calm foreign exchange markets. "I am monitoring the situation very carefully," Fujii said. The Japanese currency briefly touched 84.81 yen — the lowest since mid-1995 — in early trading before bouncing back to 86.33 yen. The euro, meanwhile, weakened...
  • O's China kowtow: Punting on security, trade

    11/19/2009 3:02:58 AM PST · by Scanian · 9 replies · 443+ views
    NY Post ^ | November 19, 2009 | Peter Brookes
    If you were troubled by President Obama's "Wow Bow" in Japan, you won't be any happier with the "kowtow" during his just-concluded trip to the People's Republic of China. In the latest chapter of Team Obama's at-best-mediocre, teetering-on-the-disastrous foreign policy, the president and a slew of Cabinet secretaries roared into Asia like lions, promising a new era in US diplomacy in the region. But they're leaving like pussycats -- accomplishing, well, a whole lot of nothing so far. So much for our "first Pacific president," as Obama anointed himself at the start of the eight-day, four-country swing through Asia last...
  • World Tries to Buck Up Dollar

    11/12/2009 8:01:43 AM PST · by FromLori · 20 replies · 733+ views
    WSJ ^ | 11/12/09
    Governments around the world stepped up efforts to stem the U.S. dollar's slide, as officials grow increasingly concerned about the impact of the weak greenback on their nascent economic recoveries. Thailand, South Korea, Russia and the Philippines have been snapping up dollars this week in order to hold down the value of their currencies, traders said Wednesday, as the U.S. currency wallowed near 15-month lows. In Latin America, Brazil's finance minister said the country's currency remained too strong, sparking speculation that the government would intensify recent efforts to curb the real's ascent. On Tuesday, Taiwan banned foreign investors from parking...
  • Turkey to use national currencies in trade with Iran, China

    10/29/2009 9:22:30 AM PDT · by FromLori · 7 replies · 472+ views
    Rianovosti ^ | 10/29/09
    Turkey is switching to national currencies in trade with Iran and China, ending dependence on the U.S. dollar and the euro for about 20% of its commodity turnover, local media reported on Wednesday. Turkey has already switched to settlements in national currencies with Russia amid weakening confidence in the greenback as the world's major reserve currency. The move was initiated by Turkish President Abdullah Gul during his visit to Moscow in February. Turkey's decision to make settlements with Iran and China in national currencies was announced during a visit to Iran by Turkish Prime Minister Recep Tayyip Erdogan. The Turkish...
  • ARABS PLOT TO DROP DOLLAR Link only source cannot be posted

    10/05/2009 4:24:16 PM PDT · by FromLori · 45 replies · 1,977+ views
    Drudge | 10/6/09
    http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
  • Gold at $3,000 an ounce is going to look dirt cheap…before 2010 is done. Here’s why:

    10/05/2009 12:15:28 PM PDT · by FromLori · 74 replies · 3,076+ views
    The US already has over $100 Trillion in obligations. The “stimulus” spending will not stop and cannot stop. Unemployment is still rising. Home prices are still falling. Rates must be kept low. The US wants to “re-flate” its economy. A weaker dollar helps accomplish this. The United States wants and needs a weaker dollar. Meanwhile China is still growing, building out infrastructure and locking down huge quantities of commodities through deals with major companies and countries worldwide. The also have over $2 TRILLION in foreign currency reserves –Fiat Money. Of course the Chinese now wisely want to aggressively diversify out...
  • Morning Market Report

    07/10/2009 6:13:34 AM PDT · by fiscon1 · 129+ views
    The Provocateur ^ | 07/10/2009 | Mike Volpe
    GM is finishing up its bankruptcy and will emerge today. Futures look to open modestly lower after Chevron warned about it's second quarter earnings. The Dow looks to be off 60 points, the NASDAQ 5, and the S&P 8. The Dow will likely test 8100 before the trading day is over.
  • American Embassies being Asked to Sell Dollars?

    06/25/2009 8:06:53 PM PDT · by redhotright · 39 replies · 1,788+ views
    Market Watch ^ | 2009-Jun-24 | Peter Brimelow
    I saw this article and found it rather alarming (particularly, starting around paragraph 7). I was wondering what people think about this. Is the author being overly paranoid, or does it look like it's realistic? Here's the paragraphs in question: In its current issue, HSL reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and...
  • Fading of the Dollar's Dominance (Other Nations See Opening to Boost Their Currencies)

    06/24/2009 5:23:10 AM PDT · by SeekAndFind · 7 replies · 419+ views
    Washington comPost ^ | 6/24/2009 | Anthony Faiola
    The days of calling the dollar almighty may be numbered. Since World War II, when the dollar eclipsed the British pound as the king of world currencies, the United States has reaped the rewards of its monetary strength. The greenback's sense of indestructibility allowed the U.S. government to borrow cheaply and gave rise to an era of rich American globetrotters toting the world's most easily convertible form of cash. But the financial crisis that started in the United States is dramatically intensifying the debate over the future of the dollar, and whether it can, or should, remain at the top...
  • Brazil and China eye plan to axe dollar

    05/18/2009 2:31:31 PM PDT · by Kartographer · 82 replies · 2,903+ views
    Financial Times ^ | 5/18/09 | Jonathan Wheatley
    Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president. The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency.
  • What’s coming next, from the ‘Man Who Saw It Coming’

    02/23/2009 8:08:28 PM PST · by TigerLikesRooster · 5 replies · 807+ views
    FT Alphaville ^ | 02/23/09 | Gwen Robinson
    What’s coming next, from the ‘Man Who Saw It Coming’ Posted by Gwen Robinson on Feb 23 18:31. The litany of dire predictions for currencies, commodities and the global economy in general not only seems endless - it is getting more predictable by the day. That is because few pundits are making any waves - or money - out of playing Pollyanna, as everyone from Jim Rogers to Nouriel Roubini well know. While it’s an increasingly safe bet for analysts to leap on the gloom’n'doom bandwagon, there are a handful of analysts out there who get taken more seriously than...
  • Five Things You Need to Know: U.S. Declares Economic War

    01/22/2009 3:49:16 PM PST · by BGHater · 4 replies · 700+ views
    Minyanville ^ | 22 Jan 2009 | Kevin Depew
    1. Beyond the Zero Bound Beyond the zero bound. Although that title refers to economics, it sounds vaguely related to science fiction, doesn't it? Then again, perhaps science fiction is precisely where it belongs. Yesterday Swiss National Bank (the Swiss central bank) Vice President Philipp Hildebrand delivered a speech outlining the central bank's options for acting in the current financial crisis. With interest rates virtually at zero, the central bank is no longer able to utilize policy options that target short term rates. So, what can they do? One additional step would be for the central bank to purchase government...
  • The dollar danger is not over yet

    05/10/2008 5:14:57 PM PDT · by shrinkermd · 26 replies · 48+ views
    Financial Times ^ | 8 May 2008 | Editorial Staff
    When a currency rises after government officials say that it should, you learn one thing: that the fundamentals were pushing it up anyway. It makes sense for senior US and European officials to talk up the dollar against the euro – as they did this week in the Financial Times – especially now that optimism about the US economy makes their arguments plausible. In the long run, however, the real risk of a dollar crisis is against the managed currencies of Asia and the Middle East. Early March was a time of danger for the dollar. There were forecasts of...
  • Less bang for a buck-Greenback's decline has more people considering foreign investments, currencies

    04/09/2008 2:42:49 PM PDT · by BGHater · 75 replies · 262+ views
    The Union Tribune ^ | 30 Mar 2008 | Dean Calbreath
    As the once-mighty U.S. dollar continues to sink against other currencies, some San Diegans are confronting the reality that their money is worth a lot less than it once was. JACIE LANDEROS / Union-Tribune Environmental consultant Kevin Clark in Mira Mesa has started looking at Tijuana as a potential place to open a savings account, since the peso is stronger than the dollar right now and Mexican banks offer higher interest rates than their U.S. counterparts. Nena Norwood, a freelance writer in Hillcrest, was among about 600 investors from Southern California who traveled to Newport Beach last week to hear...
  • Where Will the 'Commodity Currencies' Head Next?

    03/20/2008 5:05:40 PM PDT · by shrinkermd · 5 replies · 715+ views
    Seeking Alpha ^ | 20 March 2008 | Kathy Lien
    Could the commodity currencies fall further? Yes. According to the Baltic Dry Index charts below, commodity prices will continue to fall. For those of you who do not know what the Baltic Dry Index is, it was once termed the “Best Economic Indicator You’ve Never Head Of” by Daniel Gross. This index is closely followed by all Wall Street Insiders because it is a good indicator of economic growth and production. In a nutshell, the BDI reflects how much it costs to ship raw materials (like coal, iron ore, cement and soft commodities like grains and sugar) by sea. The...
  • $620M for Quebec manufacturers hit by loonie rise

    11/24/2007 8:51:17 AM PST · by george76 · 20 replies · 103+ views
    CBC News ^ | November 23, 2007
    Quebec's Liberal government has announced a $620 million aid package for the province's bruised manufacturing sector. The measures, to be rolled out over the next five years, will help Quebec companies and businesses adjust to the Canadian dollar's unprecedented gains. Some $256 million of the money announced Friday in Montreal is new funding. The rest was previously included in Quebec's May 2007 budget. Premier Jean Charest said the measures will help companies adapt to the rapid rise in the Canadian dollar. "That the dollar rises so quickly is brutal for the Quebec economy," he said. The upside has been lower...
  • Comment: Globalization makes national currencies obsolete

    11/12/2007 6:33:35 PM PST · by BGHater · 33 replies · 242+ views
    Financial Post ^ | 08 Nov 2007 | Benn Steil
    Capital flows have become globalization's Achilles heel. Over the past 25 years, devastating currency crises have hit countries across Latin America and Asia, as well as countries just beyond the borders of Western Europe -- most notably Russia and Turkey. The economics profession has failed to offer anything resembling a coherent and compelling response to currency crises. International Monetary Fund (IMF) analysts have, over the past two decades, endorsed a wide variety of national exchange-rate and monetary-policy regimes that have subsequently collapsed in failure. They have fingered numerous culprits, from loose fiscal policy and poor bank regulation to bad industrial...
  • Coming Week: Dollar Drama

    09/23/2007 11:01:25 AM PDT · by oblomov · 149 replies · 890+ views
    thestreet.com ^ | 9/23/2007 | Liz Rappaport
    Against all odds, currency calculators could end up being fall's hottest accessory. But, if you're shopping this weekend, don't get one made by Louis Vuitton, because European goods are more expensive than ever this season for anyone spending U.S. dollars. Indeed, European goods are getting more expensive for anyone whose money is pegged to the dollar. Now that the Federal Reserve has made its move to stem the paralysis in the credit markets and subsequent economic weakness, investors are doing the cost-benefit analysis. In the short days following last Tuesday's cut, the costs of a weakened currency seem to outweigh...
  • Ron Paul’s Currency Plan and Merovingian France

    08/16/2007 8:44:52 AM PDT · by .cnI redruM · 70 replies · 1,327+ views
    RedState.com ^ | 16 August 2007 | .cnI redruM
    Republican Presidential Candidate Ron Paul has made politics a lot more interesting this year. He believes a lot of things the GOP establishment doesn’t, and his entry into the race has made people discuss ideas that wouldn’t otherwise get put into the public forum. I salute him for contributing, but would rather take a pass on one his least useful contributions. Ron Paul has suggested taking the United States Dollar back on the Gold Standard and doing away with The Federal Reserve. For some reason, this whole debate over Ron Paul's platform and on full-bodied and specie-backed currencies, reminded me...
  • Housewives show a yen for trading to net riches

    06/22/2007 12:56:31 PM PDT · by oblomov · 3 replies · 444+ views
    Brisbane Times ^ | 23 June 2007 | Justin Norrie
    JAPANESE housewives, pensioners and other amateur traders are borrowing record sums to buy high-yielding currencies such as the Australian dollar, in a speculative splurge that is prolonging a slump in the yen. The Bank of Japan's determination to keep its ultra-low interest rate pegged at 0.5 per cent since February has encouraged the growing ranks of amateur traders to bet heavily against their own currency. So far this year they have opened 600,000 accounts at brokerages that lend money at the low rate for currency bets, according to Tokyo's Yano Research Institute. Whereas the speculators would be lucky to get...
  • Let's be Competitive — Free the Fed!

    05/30/2007 9:47:17 AM PDT · by Tolerance Sucks Rocks · 108 replies · 1,471+ views
    MoneyNews.com (Newsmax) ^ | May 30, 2007 | John Browne
    Today's Financial Times headline ("Spitzer to Streamline Rules for Wall Street") is an example of government allowing good old Yankee free enterprise to become more competitive with other international challengers. The Financial Times also contains additional evidence of increasing inflationary pressures and of interest rates around the world, particularly in the European Union (E.U). Meanwhile, in face of growing inflationary evidence and increasing interest rates among our key competitors, our Fed has kept our rates on hold. While it warns of inflation as its main concern, our Fed appears "frightened" to compete either against inflation or with the rising interest...
  • THE EURO: A doomed currency

    12/13/2006 12:18:26 AM PST · by MadIvan · 79 replies · 2,871+ views
    The Daily Telegraph ^ | December 13, 2006 | Staff
    The achievement of economic and monetary union by 11 European countries in 1999 was based on a deal: Germany, the strongest member, gave up the Deutschemark on the understanding that the others would not debauch the new common currency, the euro. Nearly eight years on, that inherently doomed project is coming apart at the seams.The fundamental problem is that the economies of the "Germanic" members have diverged so far from those of the "Latin" bloc that the single interest rate set by the European Central Bank (ECB) is becoming a huge political liability. An inkling of this came last year,...
  • Canadian Dollar (Loonie) surges to 13 1/2-year high as crude oil futures spike

    09/19/2005 9:21:13 PM PDT · by M. Espinola · 18 replies · 2,816+ views
    The Canadian Press via COMTEX ^ | Sep 19th, 2005 | Rita Trichur
    The Canadian dollar surged to a 13 1/2-year high Monday - gaining almost a full U.S. cent - as a sharp increase in crude oil prices fired up gains against the U.S. greenback. The loonie was trading during the day as high as 85.74 cents US, up 0.9 of a cent from Friday's close of 84.84 cents U.S. It later closed at 85.57 cents US, up 0.73 cent,. "This is the highest we've been since the month of January 1992," said George Davis, chief foreign exchange technical analyst with RBC Capital Markets. "The market is starting to refocus on...
  • Canadian dollar touches 13-year high

    09/09/2005 6:21:54 PM PDT · by M. Espinola · 49 replies · 1,425+ views
    FINANCIAL POST ^ | September 9th, 2005 | Rita Trichur
    Canada's benchmark stock index achieved its highest close of the year Friday - a level not seen since the autumn of 2000 - as triple-digit increases were propelled by a fresh spate of corporate and economic news. The Canadian dollar touched at a 13-year intraday high, shooting above 85 cents US after a stable jobs report from Statistics Canada built on Wednesday's interest rate hike. ~snip~ The Canadian dollar ended the day at 84.93 cents US, up 0.32 cent - its highest close since November after retreating from its intraday peak of 85.27 cents US, a 13-year high. On Thursday,...
  • Euro Hits 13 Month Low Against Dollar

    07/04/2005 12:40:22 PM PDT · by M. Espinola · 17 replies · 681+ views
    Forbes ^ | July 4th, 2005 | Associated Press
    The euro hit its lowest level against the dollar in more than 13 months Monday after data painted a rosy picture of the U.S. economy and traders waited to see if the European Central Bank would cut interest rates later this week. The euro fell as low as $1.1888 in Europe - its lowest point since May 20, 2004, when it dropped to $1.1893 - before recovering slightly to $1.1900 in late afternoon trading. That's compared to $1.1947 in New York late Friday. The British pound slipped to $1.7611 from $1.7694. The dollar fell against the Japanese yen, to...