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Keyword: currency

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  • U.S. Dollar Teetering On The Abyss

    11/15/2011 9:10:18 AM PST · by blam · 12 replies
    TMO ^ | 11-15-2011 | Toby Connor
    U.S. Dollar Teetering On The Abyss Currencies / US Dollar Nov 15, 2011 - 03:01 AM By: Toby Connor We all better hope I'm wrong on this one, but I think the CRB just put in its three year cycle low in October. I'm also afraid that Bernanke has done irreparable damage to the dollar. If I'm right about both of those assumptions then we are on the brink of a historic inflationary period. I've marked the major three year cycle bottoms in both the CRB index and the dollar index on the chart below with blue arrows. (Actually the...
  • “Currency Wars: The Making of the Next Global Crisis” By Jim Rickards

    11/13/2011 12:09:04 PM PST · by Razzz42 · 11 replies
    King World News ^ | November 11th, 2011 | Jim Rickards
    In this interview Rickards discusses his extraordinary new book Currency Wars: The Making of the Next Global Crisis. He also lets King World News listeners know what to expect regarding gold manipulation, the ongoing currency wars and much more. The KWN audio interview with Jim Rickards is available now...
  • Pope’s Top Cardinal Forbids Justice & Peace From Issuing Documents Without Permission

    11/10/2011 12:03:07 PM PST · by Publius804 · 16 replies
    American Papist ^ | 11/10/11 | Thomas Peters
    Very notable news, via Vatican expert Sandro Magister, following the aftermath of the Justice & Peace’s ill-advised white paper (emphasis mine) Precisely when the G20 summit in Cannes was coming to its weak and uncertain conclusion, on that same Friday, November 4 at the Vatican, a smaller summit convened in the secretariat of state was doing damage control on the latest of many moments of confusion in the Roman curia. In the hot seat was the document on the global financial crisis released ten days earlier by the pontifical council for justice and peace. A document that had disturbed many,...
  • Strong CAD, Investors Shy from Left-leaning US Government

    11/04/2011 11:56:22 AM PDT · by next media · 7 replies
    USBC News ^ | 2011, 11, 05 | USBC Wire
    ..."John Curran, senior vice-president at a Canadian foreign exchange firm seemed confused about the results saying:"If the Bank of Canada is telling us things are going to slow down due to global scenarios, I don't see why the market is not listening to the officials that are involved with the issues”. Other experts, taking a broader view have noted that the weakness of economic situations in the left-led governments of the US and Europe are a likely cause of the strengthening of confidence in Canada’s economy to continue to do outperform"....
  • Krugman Warns of “Gigantic Bank Run”, “Emergency Bank Closing” and “New Lira”

    11/02/2011 8:33:06 PM PDT · by blam · 19 replies
    TMO ^ | 11-2-2011 | GoldCore
    Krugman Warns of “Gigantic Bank Run”, “Emergency Bank Closing” and “New Lira” Commodities / Gold and Silver 2011 Nov 02, 2011 - 07:09 PM By: GoldCore Gold is trading at USD 1,727.10, EUR 1,254, GBP 1,080, JPY 134,790, AUD 1,669.20 and CNY 10,978 per ounce. Gold’s London AM fix this morning was USD 1,731.00, GBP 1,081.27 and EUR 1,257.35 per ounce. Yesterday's AM fix was USD 1,702.00, GBP 1,067.69 and EUR 1,243.06 per ounce. Cross Currency Table Gold is higher in most major currencies but especially the US dollar this morning. Although gold has lost some of its early gains...
  • Europe's grand plan risks slow death by a thousand cuts

    10/13/2011 2:39:48 PM PDT · by bruinbirdman · 2 replies
    The Telegraph ^ | 10/13/2011 | Jeremy Warner
    <p>Is Europe's planned programme of banking recapitalisations going to work?</p> <p>It depends how it is done, but the omens aren't good. The message from bankers at the Association for Financial Markets in Europe (AFME) annual dinner in London this week was a concerning one.</p>
  • Senate Passes Bill to Sanction China Over Currency

    10/11/2011 3:50:42 PM PDT · by traumer · 17 replies
    The Senate has voted to punish China for keeping its currency undervalued against the dollar. Many see China's currency policy as a big factor in the flood of Chinese imports that has led to American factories shutting down and workers getting laid off. The 63-35 vote Tuesday evening shows the growing anger over the U.S. trade relation with China. The Asian nation built up a $273 billion surplus last year bolstered by monetary policy that makes its exports cheaper and American sales to China more expensive. But the bill to punish China is likely to hit a dead end in...
  • Populist Winds Blowing

    10/07/2011 3:23:18 PM PDT · by Sick of Lefties · 5 replies
    Noman Says ^ | 9/7/11 | Noman
    Senators--mostly Democratic, but not exclusively--are incensed at China's artificially low currency, which reduces the value of its exports to the US, and increases American firms' propensity to source overseas. Taken as an isolated phenomenon, this costs the US manufacturing jobs. Critics of China specifically, and global sourcing generally, are reluctant to recognize the domestic benefits flowing from outsourcing, e.g., lower domestic consumer prices; money flowing to more efficient and competitively advantageous domestic uses thereby creating jobs in new growth industries. Neither do they care that a stronger Chinese Yuan will merely shift the venue of sourcing, not its incidence. The...
  • Martin A. Armstrong (Audio Interview)

    10/02/2011 8:14:34 PM PDT · by Razzz42 · 8 replies · 1+ views
    King World News ^ | 10.2.2011 | Martin A. Armstrong interview
    [Go to the site link then look for the 'Listen to MP3' icon on the lower left-hand side and click on that to listen to the interview after it loads.]
  • US Senate to take up China currency bill

    10/02/2011 3:55:28 AM PDT · by TigerLikesRooster · 12 replies
    US Senate to take up China currency bill Posted: 02 October 2011 0958 hrs WASHINGTON: The US Senate this week takes up a bill to punish China for its alleged currency manipulation, a measure that has divided the Republican presidential field and put the White House in a bind. The legislation -- backed by Democrats and Republicans in the polarized Congress, but opposed by Beijing and potent US business groups -- faces a key procedural vote set for 5:30 pm (2130 GMT) Monday. Democratic Senator Chuck Schumer, a key author of the measure, predicted the bill would clear that hurdle...
  • U.S. mulls Canadian border fence

    09/29/2011 12:07:42 PM PDT · by Free ThinkerNY · 21 replies
    The Canadian Press ^ | Sept. 29, 2011
    The United States is looking at building fences along the border with Canada to help keep out terrorists and other criminals. The U.S. Customs and Border Protection agency has proposed the use of "fencing and other barriers" on the 49th parallel to manage "trouble spots where passage of cross-border violators is difficult to control." The border service is also pondering options including a beefed-up technological presence through increased use of radar, sensors, cameras, drones and vehicle scanners. In addition, it might continue to improve or expand customs facilities at ports of entry. The agency considered but ruled out the possibility...
  • Paper or coin? In Congress, a battle over George Washington’s face

    09/28/2011 8:04:43 PM PDT · by decimon · 53 replies
    The Ticket ^ | September 28, 2011 | Chris Moody
    There is a movement brewing among House Republicans to replace the traditional $1 bill with metal coins, which supporters say will save the country billions because of their longer circulation life. Arizona Republican Rep. David Schweikert introduced the Currency Optimization, Innovation and National Savings (COINS) Act last week, which would require the Federal Reserve Banks to end production of the $1 paper currency within four years of passage. > In the Senate, Massachusetts Sens. John Kerry, a Democrat, and Scott Brown, a Republican, introduced the Currency Efficiency Act, aimed at preserving the paper dollar bill. The reason to stick with...
  • The Great Euro Swindle [In truth, Eurosceptics were only too sane: Margaret Thatcher..]

    09/22/2011 12:05:35 PM PDT · by fight_truth_decay · 3 replies
    Telegraph.co.uk ^ | 12:00PM BST 22 Sep 2011 | Peter Oborne, Frances Weaver
    Very rarely in political history has any faction or movement enjoyed such a complete and crushing victory as the Conservative Eurosceptics. The field is theirs. They were not merely right about the single currency, the greatest economic issue of our age – they were right for the right reasons. They foresaw with lucid, prophetic accuracy exactly how and why the euro would bring with it financial devastation and social collapse. Meanwhile, the pro-Europeans find themselves in the same situation as appeasers in 1940, or communists after the fall of the Berlin Wall. They are utterly busted...
  • The Defining Issue Of The 2012 Elections: Jobs Through Gold?

    09/19/2011 8:06:44 PM PDT · by DeaconBenjamin · 4 replies
    Forbes ^ | 9/12/11 | Ralph Benko
    ...Meanwhile, a credible key to explosive jobs growth begins to come to the fore: a credible monetary policy prescription for a seriously stable dollar. A sure signal of a rising policy vector? The Washington Post sends forth a top gunslinger to attack the gold standard and the GOP candidates for considering it. See Steven Pearlstein's Sept. 10 column, “The magical world of voodoo ‘economists’“: If you came up with a bumper sticker that pulls together the platform of this year’s crop of Republican presidential candidates, it would have to be: Repeal the 20th century. Vote GOP. They reject as thoroughly...
  • $1.2 Trillion Of Nervous Money Floods Into U.S. Banking System

    09/18/2011 3:34:36 PM PDT · by fightinJAG · 55 replies
    Problem Bank List ^ | Sep 9, 2011 | Staff
    With the European banking system tottering on the brink of collapse, nervous holders of cash have flooded the U.S. banking system with $1.2 trillion of deposits. Panicky holders of large amounts of cash are taking advantage of a provision of the Dodd-Frank Act that provides unlimited FDIC insurance coverage on noninterest-bearing transaction accounts. The Dodd-Frank Act provides unlimited deposit insurance coverage regardless of the account balance or type of ownership. [snip] After the near total meltdown of the financial system in 2008, investors are taking steps to move their money into government guaranteed accounts. The revelation that money market funds...
  • Deflation Is Here

    09/12/2011 12:27:46 AM PDT · by blam · 27 replies
    Seeking Alpha ^ | 9-12-2011 | Graham Summers
    Deflation Is Here Graham Summers September 12, 2011 I’ve been warning that the markets were on the verge of another round of Deflation. By the looks of things, it’s here with the US Dollar breaking out of its massive wedge pattern. The ultimate target for this pattern is the mid-80s. So consider this latest breakout the first leg up of a much larger move that will affect all other asset classes in a big way. In order for a move of that caliber to occur in the US Dollar, we’ll need to see a full-scale crisis hit the markets (the...
  • Greece budget watchdog warns 'debt is out of control'

    09/02/2011 12:06:45 AM PDT · by bruinbirdman · 4 replies
    The Telegraph ^ | 9/1/2011 | AFP
    The Greek finance ministry went on the defensive after a new budget watchdog released an internal report warning that debt was "out of control". Students protest outside the Greek Parliament in Athens The Greek finance ministry went on the defensive after a new budget watchdog released an internal report warning that debt was "out of control". Evangelos Venizelos, the Finance Minister who earlier this week had to explain to auditors from the EU, ECB and IMF why the debt-laden country had missed targets, put the report down to inexperience. He said in a statement: "All responsible international organisations know in...
  • Gold is the World's Currency

    08/25/2011 7:08:12 AM PDT · by Kaslin · 14 replies
    Townhall.com ^ | August 25, 2011 | Mike Shedlock
    Central bank and government actions around the globe increasingly prove that gold is the place to be. Here is an interesting Bloomberg headline that shows what I mean:Central Banks to Retain Gold to Manage Debt in Crisis
  • BIG MONEY & THE ECONOMIC DEPRESSION

    08/16/2011 9:56:30 PM PDT · by Razzz42 · 16 replies
    ...There is a danger of a MASSIVE WORLD DEPRESSION perhaps far greater than the HYPERINFLATION scenarios. The presumption of hyperinflation is based (1) that money is not backed by gold, and (2) somehow government will print uncontrollably. There are rising forces in the wings that counter-balance that notion. In Germany, the national philosophy is etched in its soul by its hyperinflation of the 1920s just as everything Americans believe is etched into their soul by the Great Depression. The USA fears a depression and monetizes to desperately try to stimulate, while Germany imposes austerity to prevent a hyperinflation that is...
  • The 40 year Anniversary of the Floating Exchange Rate System and The Week From Hell

    08/16/2011 9:43:11 PM PDT · by Razzz42 · 4 replies
    ...Today the crisis lies in Europe. The European Central Bank revealed Monday that it purchased €22 billion euro ($32 billion) last week, which was more than it has ever done before in a desperate measure to prop up the bond markets of Italy and Spain. The ONLY solution to save the euro is to consolidate all the debts into a single euro bond. The next step will be to introduce economic reform. As long as the ECB continues to buy the debt of the weaker states, they will eventually blow themselves up because they cannot support such a market in...