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Keyword: dollar

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  • Fed, global central banks move to boost financial system (Got Inflation?)

    11/30/2011 5:36:50 AM PST · by TSgt · 77 replies
    MSNBC ^ | 11/30/2011 | By Patrick Rizzo
    The U.S. Federal Reserve, acting with five other central banks, took steps Wednesday to boost the troubled global financial system by making it cheaper for banks to trade in U.S. dollars. The Fed -- along with central banks of the eurozone, England, Japan, Switzerland and Canada -- announced a coordinated plan to lower prices on dollar liquidity swaps beginning on December 5, and extending these swap arrangements to February 1, 2013.
  • US uncertain Israel would advise before Iran strike

    11/30/2011 3:46:03 PM PST · by SmithL · 20 replies
    Jerusalem Post ^ | 12/1/11 | JPOST.COM STAFF AND REUTERS
    ABOARD A US MILITARY AIRCRAFT - The top US military officer told Reuters on Wednesday he did not know whether Israel would alert the United States ahead of time if it decided to take military action against Iran. General Martin Dempsey, the chairman of the Joint Chiefs of Staff, also acknowledged differences in perspective between the United States and Israel over the best way to handle Iran and its nuclear program. He said the United States was convinced that sanctions and diplomatic pressure was the right path to take on Iran, along with "the stated intent not to take any...
  • Images Show Devastation at Iran Base After Blast

    11/29/2011 11:31:05 PM PST · by neverdem · 64 replies
    NY Times ^ | November 29, 2011 | WILLIAM J. BROAD
    The large, deadly explosion at an Iran military base in Iran on Nov. 12, which Iranian authorities have called an accident that set back research work there by a few days, appears to have been far more devastating than their description suggested, according to an analysis of newly released commercial satellite images of the blast site. The images reveal vast destruction and chaotic disarray across a sprawling complex composed of more than a dozen buildings and large structures. The Institute for Science and International Security, a private group in Washington, made the satellite images public Monday, along with an analysis...
  • France summons Iranian envoy over UK embassy incident in Tehran

    11/30/2011 7:59:44 AM PST · by nuconvert · 6 replies
    Kuwait News Agency ^ | Nov. 30, 2011
    PARIS, Nov 30 (KUNA) - The French Foreign Ministry on Wednesday summoned Iran's current senior envoy to Paris to hear a protest over the incidents and damage caused at the British embassy in Tehran Tuesday. French Foreign Ministry spokesman Bernard Valero indicated that the Iranian Charge d'Affaires, Amir Miri, has been called in to the Ministry and was told that France "very firmly condemns the attack and unacceptable pillage" at the British mission. France had already condemned the apparently organized incident in the embassy, when a group of protesters ran amok, breaking furniture and throwing files and other items around...
  • Britain withdrawing all embassy staff from Iran

    11/30/2011 7:04:30 AM PST · by nuconvert · 18 replies
    LONDON (AP) — Britain's foreign secretary on Wednesday ordered all Iranian diplomats out of the U.K within 48 hours following attacks on the British embassy and a residential compound in Tehran.
  • Trump Says Obama Will Start A War With Iran To Get Reelected

    11/30/2011 8:57:54 AM PST · by Strategy · 88 replies
    Business Insider ^ | November 29, 2011
    Donald Trump doesn't simply believe that President Barack Obama was not born in this country - he thinks Obama will start a war to win reelection. Trump posted this ridiculous and baseless tweet a few minutes ago: In order to get elected, @BarackObama will start a war with Iran.
  • The shadow war against Iran

    11/30/2011 4:43:49 PM PST · by jazusamo · 14 replies
    The Washington Times ^ | November 30, 2011 | Editorial
    Force is being used to attempt to halt Iran’s nuclear weapons program. On Monday, an explosion rocked the city of Isfahan in western Iran, site of a conversion facility that prepares uranium for enrichment at other sites. Conflicting reports attributed the explosion to either an accident at a gas station or a military training incident, or they denied it even happened. The blast came two weeks after Iranian Revolutionary Guards Corps (IRGC) Gen. Hasan Tehrani Moghaddam and 20 other IRGC members were killed in a massive explosion at a base near the village of Bidganeh, southwest of Tehran. The base...
  • Confederation of Iranian Students statement on UK embassy attack

    11/30/2011 4:56:31 PM PST · by Nachum · 2 replies · 1+ views
    Israel matzav ^ | 11/30/11 | Carl In Jerusalem
    I received via email the following statement from the Confederation of Iranian Students and the Iranian Freedom Institute regarding the Basij-led attack (that's what they're calling it - the Iranians are calling the attackers 'students') on the British embassy in Tehran on Tuesday. As the U.S. and its European allies begin to impose effective sanctions on the Islamic Republic, the western democracies should anticipate that the regime will initiate more of these fully-authorized, staged incidents under the guise of a student movement. The so-called students, of course, are plain-clothed basiji following orders from the regime. Even Moussa Ghornani, a member...
  • Mysterious blast rocks home of Iran nuke facility

    11/30/2011 3:43:19 PM PST · by Evil Slayer · 13 replies · 1+ views
    Jerusalem Post ^ | 11/29/11 | Yaakov Katz
    Source, target of Isfahan blast unclear; satellite image shows extensive damage to missile base blown-up Nov. 12. A mysterious explosion rocked the Iranian city of Isfahan on Monday, home to a key facility in Tehran’s nuclear program. The source and target of the explosion were unclear. Some reports claimed that it took place in a military base and others claimed it was a gas explosion. Isfahan hosts a nuclear facility involved in processing uranium which is fed to the Natanz fuel enrichment facility. Two weeks ago, on November 12, an explosion hit an Iranian military base near the town of...
  • Fitch Ratings: ‘Negative’ outlook for U.S. credit rating

    11/28/2011 4:30:49 PM PST · by ColdOne · 5 replies
    Politico ^ | 11/28/11 | JOSH BOAK
    Following the failure of the supercommittee, the U.S. government’s AAA credit rating was placed on a “negative outlook” Monday by Fitch Ratings, indicating a more than 50 percent chance the country gets slapped with another downgrade in the next two years. “By postponing the difficult decisions on tax and spending until after forthcoming congressional and presidential elections, the scale and pace of required deficit reduction will consequently be greater,” Fitch said in a statement. “Conversely, failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in...
  • Euro and the Dollar: Whose Fuse is Shorter?

    11/28/2011 3:21:40 AM PST · by RWB Patriot · 7 replies
    Capitalism Magazine ^ | 11-23-11 | Peter Schiff
    With fiscal time bombs ticking in both Europe and the United States, the pertinent question for now seems to be which will explode first. For much of the past few months it looked as if Europe was set to blow. But Angela Merkel's refusal to support a Federal Reserve style bailout of European sovereigns and her recent statement the she had no Hank Paulson style fiscal bazooka in her handbag, has lowered the heat. In contrast, the utter failure of the Congressional Super Committee in the United States to come up with any shred of success in addressing America's fiscal...
  • Europe Fears a Credit Squeeze as Investors Sell Bond Holdings

    11/19/2011 8:00:57 PM PST · by Kartographer · 8 replies
    NYT ^ | 11/18/11 | NELSON D. SCHWARTZ and ERIC DASH
    Nervous investors around the globe are accelerating their exit from the debt of European governments and banks, increasing the risk of a credit squeeze that could set off a downward spiral. Financial institutions are dumping their vast holdings of European government debt and spurning new bond issues by countries like Spain and Italy. And many have decided not to renew short-term loans to European banks, which are needed to finance day-to-day operations. If this trend continues, it risks creating a vicious cycle of rising borrowing costs, deeper spending cuts and slowing growth, which is hard to get out of, especially...
  • Obama: China’s stooge

    11/17/2011 6:26:56 AM PST · by safetysign · 8 replies
    Washington Times ^ | 11/17/2011 | Brett Decker
    "President Obama is overseas on a nine-day Blame America First tour. He’s ostensibly spending time on the other side of the Pacific to explore ways the United States can work better with Asian economies. Instead, he’s using his time in the spotlight to criticize the nation he’s supposed to be leading."
  • 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...
  • ALERT: Yen Plunges Big-Time After Japan Intervenes In The Market

    10/30/2011 8:53:14 PM PDT · by blam · 23 replies
    TBI ^ | Joe Weisenthal
    ALERT: Yen Plunges Big-Time After Japan Intervenes In The Market Joe Weisenthal Oct. 30, 2011, 9:50 PM After watching its currency hit new post-WWII high after post-WWII high against the dollar, finally Japan has moved to intervene. Here's a chart of the dollar vs. yen via FinViz. As you can see, the dollar has surged against the yen in the past few minutes. The super-strong yen has been a source of major consternation for Japanese exporters, for whom the strong yen has made business difficult. Nintendo, for example, blamed the super-strong yen for a quarterly loss.
  • Supercommittee Isn't Making Super Cuts In The Deficit

    10/28/2011 5:31:41 PM PDT · by Kaslin · 9 replies
    IBD Editorials ^ | October 28, 2011 | Editor
    Budget: Given all the hoopla, you'd think the deficit Supercommittee was hacking away at the size of government without mercy. In fact, even the $1.2 trillion in hoped-for cuts will do nothing to attack our long-term deficits. Sometimes it's worse to pretend to be doing something about a serious problem than it is to do nothing at all. That's where we are in our talks about our out-of-control spending. Just as the European Union did, we're going through two months of talks about what to do about long-term fiscal imbalances. Under the deal that kept the government from shutting down...
  • Fed Is Poised for More Easing

    10/21/2011 8:52:43 AM PDT · by Qbert · 13 replies
    Federal Reserve officials are starting to build a case for a new program of buying mortgage-backed securities to boost the ailing economy, though they appear unlikely to move swiftly. The idea would be to target any new efforts by the central bank at the parts of the economy that are most severely impeding a recovery—the housing and mortgage markets—by working to push down mortgage rates. Lower mortgage rates, in turn, could encourage more home buying and mortgage-refinancing, and help the economy by freeing up cash for consumers to spend on other goods and services. Mortgage rates are already very low,...

    10/18/2011 5:53:27 AM PDT · by blam · 28 replies
    TBI ^ | 10-18-2011 | Joe Weisenthal
    <p>The number is out, and it's HOT!</p> <p>PPI hs jumped 0.8%, well above the 0.2% analysts had expected.</p> <p>Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.</p> <p>The culprit? Blame food and energy.</p>
  • Fitch Downgrades UBS, Puts Morgan Stanley, Bank of America, Goldman, etc. on Negative watch

    10/13/2011 2:17:19 PM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 10/12/2011 | Ty
    Since one can not get a downgrade of a bank during market hours for fears of springing who knows what circuit breakers, Fitch had to wait until just after the market close to release its latest market surprise which consisted of a "watch negative" announcement on the following banks Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman, Morgan Stanley; others it just slashed some by multiple notches, among which: Landesbank Berlin IDR downgraded to A+ from AA-; Lloyds Banking Group IDR downgraded to A from AA-; RBS IDR downgraded to A from AA-; and most importantly UBS IDR downgraded...
  • This Economic 'Recovery' Is Surely Different: It's FUBAR*

    10/13/2011 7:00:50 AM PDT · by SeekAndFind · 11 replies
    Forbes ^ | 10/12/2011 | Louis Woodhill
    *FUBAR: A slang term originating in WWII, (broadly) meaning “suboptimal”. How many times in the past four years have you read the sentence, “This time, it’s different”? Well, in the case of the U.S. economy, this time it really is different. The most recent recession, which the NBER says started in January 2008 and ended in June 2009, was severe, but it was not that much worse than the downturn of 1981 – 1982. The recession that started in mid-1981 lasted almost as long as the 2008 – 2009 downturn (16 months vs. 18 months), and actually produced higher peak...
  • In China, Russia's Putin calls US a parasite

    10/12/2011 4:12:13 AM PDT · by TigerLikesRooster · 8 replies
    AP ^ | 10/12/11
    In China, Russia's Putin calls US a parasite AP– 8 hrs ago BEIJING (AP) — Russian Prime Minister Vladimir Putin is likening the U.S. to a parasite following his meetings with Chinese leaders to push ahead energy deals and draw the once wary neighbors closer. In an interview with Chinese state media released Tuesday, Putin said that the U.S. itself is not a parasite for the world economy but that its dollar monopoly is. Putin said his criticism was meant to help find a solution to problems in the world economy.
  • Marc Faber To America: "Listen You Lazy Bugger, You Need To Tighten Your Belts, You Need To..."

    10/11/2011 7:37:45 PM PDT · by TigerLikesRooster · 18 replies
    Zero Hedge ^ | 10/11/11
    Marc Faber To America: "Listen You Lazy Bugger, You Need To Tighten Your Belts, You Need To Work More For Lower Salaries" Submitted by Tyler Durden on 10/11/2011 14:51 -0400 Once again, the latest fire and brimstone sermon by Marc Faber is absolutely spot on, starting and ending with his "policy" recommendation for what the US needs: "I will tell you what the US needs. The US needs a Lee Kwan Yew who stands in front of the US and tells them, listen you lazy bugger, now you have to tighten your belts, you have to save more, work more...
  • SWAT Teams in St. Louis Protecting Bank of America; Refusing Customer Withdrawals

    10/04/2011 1:55:45 PM PDT · by Nachum · 114 replies · 1+ views
    Your ^ | 10/4/11 | notalemming 0
    more: From what we can gather, according to eye witness testimony, St. Louis PD has barricaded the Bank of America building and is refusing customer access to deposits. Eye witness account: ‘They would not let me get past that barricade, where those three guys are. I talked to the liutenant of the St. Louis Police Department – and he said they [customers?] don’t have a legal right – but he was going to try to work out something, a symbolic gesture where eight people to pull out their money, I being one of them.’ He came back later and...
  • Twelve Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here

    10/02/2011 4:30:15 PM PDT · by blam · 107 replies · 1+ views
    TEC ^ | 10-1-2011
    Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost HereOctober 1, 2011 We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the...
  • The Stock Market Smells Deflation

    10/02/2011 4:05:19 PM PDT · by blam · 61 replies
    TMO ^ | 10-2-2011 | Clif Droke
    The Stock Market Smells Deflation Stock-Markets / Stock Markets 2011 Oct 02, 2011 - 11:06 AM By: Clif Droke In previous commentaries we've talked about how the 6-year cycle is scheduled to peak around Oct. 1. That now appears to be all but certain following the last few trading sessions. Although the cycle has a 1-2 week standard deviation (plus or minus), it appears that it peaked on schedule last week and that the stock market has lost the last remaining cyclical support it had throughout most of September. Interestingly, it was the commodity stocks that performed the strongest in...
  • How can China break US dollar's dominance?

    09/22/2011 6:21:29 AM PDT · by AfricanChristian · 4 replies
    With the internationalization of the RMB progressing on schedule, it is predicted that at least 40 percent of the trade volume of 2015, or about 100 million U.S. dollars, between China and Africa, which is equal to the total trade volume of 2010 between China and Africa, will be settled with RMB, according to the lasted research report issued in the beginning of September by the largest bank of Africa Standard Bank Group. This is another achievement China has made since it launched the cross-border RMB settlement in 2009. Pang Kaige, chief executive officer of the Standard Bank (China), also...
  • U.S. Elites Begin To Confront The Paper Dollar

    08/30/2011 9:47:13 PM PDT · by PhilipFreneau · 16 replies
    Forbes ^ | 8/29/2011 | Ralph Benko
    There is nowhere left to hide. America’s governing elites begin to internalize the magnitude of their failure to generate jobs. CBO now predicts worse than 8% unemployment until 2014. America begins to engage, seriously, with the implications of the faltering dollar and reconsider the appeal of the gold standard. From The New Yorker to The National Interest to The Washington Monthly to The Nixon Foundation, thoughts turn to gold
  • Gold hits a new high as Wall Street swings wildly

    08/21/2011 7:17:15 PM PDT · by Tolerance Sucks Rocks · 15 replies
    The Washington Times ^ | August 19, 2011 | Tali Arbel (AP)
    NEW YORK — Investors flocked to gold Friday, sending it to the latest of a series of records, as fears about recession in the world’s major economies infected financial markets. The metal soared as high as $1,881.40 an ounce. It’s been on a tear this summer, rising more than 15 percent in August alone. In the same three weeks, the Standard & Poor’s 500-stock index has fallen about 12 percent. Gold is on track for its biggest weekly gain since February 2009, according to FactSet data.
  • Recession Is Not In View But Economy Is Ugly

    08/21/2011 3:18:08 PM PDT · by blam · 25 replies
    Seeking Alpha ^ | 8-21-2011 | Steven Hansen
    Recession Is Not In View But Economy Is Ugly Steven Hansen August 21, 2011 Every day recently, readers have had to digest a growing number of pundits screaming “upcoming recession” giving a cacophony of reasons. Other than a horribly weak economy, there are no major signs indicating an outright contraction. As I have stated previously, a discussion of whether the USA is in a depression would be more pertinent. In a depression, there are no economic drivers for expansion – and the economy flops around (one step forward, on step back). One year ago, we were worried the economy was...
  • Destroying the Dollar For Something Logically Impossible

    08/19/2011 6:33:22 AM PDT · by SeekAndFind · 2 replies
    Real Clear Markets ^ | 08/18/2011 | Jeffrey Snider
    The politics of economics has again risen in the wake of the stock market's recent haircut. Economists and experts from both the right and the left are now falling all over themselves to "do something". Why the stock market is the universal signal, the hunter's bugle call to action, is not yet known. After all, the economic and financial problems of August 2011 have been largely unchanged since August 2007, and indications of these unresolved imbalances have been, and continue to be, numerous. What is troubling is this bipartisan political urge to "do something". In the space of a few...
  • U.S. Dollar Is The Next Financial Shoe To Drop (Foreign Flight If USD loses global reserve status)

    08/09/2011 9:39:01 AM PDT · by SeekAndFind · 8 replies
    Forbes ^ | 08/09/2011 | Jonathan Sherman
    There are a lot of headlines lately about the debt issues in the United States (not to mention Europe and Japan). But what does this issue mean for the investor? It appears that the whole system of fiat currencies is being challenged. In other words, the real issue here is how long will the Dollar (and Euro and Yen) remain viable currencies? A little historical background is useful. By definition, fiat currency only has value because of government regulation or law; it is not convertible into anything, like silver or gold, and is declared as legal tender by the issuing...
  • Canadian and Australian Dollar Down to Parity with US Dollar

    08/08/2011 8:31:09 PM PDT · by RushingWater · 19 replies ^ | 08/08/2011 | Exchange Rates
    Strange. Canada and Australia both have AAA rating yet after the S&P downgrade for US to AA+, their currencies slip in value.
  • China's Debt Problem Worse than Portugal

    08/08/2011 1:49:25 PM PDT · by papasmurf · 22 replies ^ | 8/8/2001 | papasmurf
    China’s own system is jammed with rotten debt held in off-balance sheet state enterprises. Its countryside is littered with eerie, empty ghost towns. And Moody’s Investors Service says last month that China’s local debt was understated by hundreds of billions of dollars. Read more:
  • Leaders scramble to head off 'black Monday' on markets

    08/07/2011 7:55:57 PM PDT · by bruinbirdman · 41 replies
    France 24 ^ | 8/7/2011 | AFP
    World leaders made emergency conference calls Sunday, seeking solutions to the US debt and eurozone crises ahead of a feared disastrous reopening of markets on Monday. In a possible bellwether, Israel's market fell seven percent. World leaders searched Sunday for answers to a global debt crisis, hoping to head off a massacre on markets spooked by an unprecedented US rating downgrade and Europe's swelling malaise. France and Germany called for full implementation of measures agreed at a eurozone summit in July to safeguard the single currency as markets braced for fresh turmoil this week. "President (Nicolas) Sarkozy and Chancellor (Angela)...
  • Jim Rogers: Don't See How US Can Ever Pay Off Debts

    08/07/2011 7:45:15 PM PDT · by TigerLikesRooster · 61 replies
    CNBC ^ | 08/07/11 | Deepanshu Bagchee
    Jim Rogers: Don't See How US Can Ever Pay Off Debts Published: Sunday, 7 Aug 2011 | 9:51 PM ET By: Deepanshu Bagchee The U.S. doesn't deserve a AA-plus credit rating, much less triple-A, commodity bull and noted investor Jim Rogers told CNBC on Monday. Getty Images Rogers said the country was unlikely to be able to pay off its debt and Standard and Poor's rating cut had come too late and should have happened long ago. "It seems to me it's physically, humanly impossible for the U.S. to ever pay off its debt," Rogers said. "They can roll it...
  • Pre-Markets ( I don't think this looks good)

    08/07/2011 6:32:02 PM PDT · by Beckett08 · 46 replies
    CNBC ^ | 08/07/2011
    pre-market data.
  • Dollar to Be 'Discarded' by World: China Rating Agency

    08/07/2011 9:54:01 AM PDT · by jafojeffsurf · 18 replies
    CNBC ^ | Sunday, 7 Aug 2011 | 10:28 AM | Ee Sing Wong
    The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
  • Dollar to drop on S&P move; safe-haven demand seen

    08/07/2011 3:57:34 AM PDT · by markomalley · 6 replies
    Reuters/Yahoo ^ | 8/7/11 | Saikat Chatterjee
    The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone. The S&P cut in the U.S. long-term credit rating by a notch to AA-plus is an unprecedented blow and results from concerns about the nation's budget deficits and climbing debt burden. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. "The initial reaction will be a high degree of uncertainty...
  • 'No risk' the US will lose its top credit rating, says Treasury's Geithner (Flashback!)

    08/05/2011 6:47:47 PM PDT · by Nachum · 30 replies · 1+ views
    The Hill ^ | 8/5/11 | Michael O'Brien
    Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to "negative." Geithner took to the airwaves of financial news networks to push back against a report Monday by Standard & Poor's that lowered its outlook on U.S. debt to "negative," reflecting political uncertainty over whether lawmakers will reach an agreement to address long-term debt.
  • Funny listing on EBAY

    This is from an actual listing (Devin Hester autographed card). Some people are lowering prices on junk that won't hold value -but- those who are not happy with the fiat dollar are not so anxious to swap it for something of value: "Due to treacherous monetary policy of the Federal Reserve, a prodigal Senate & reprobate US President colluding in the debasement of the US Dollar's purchasing power - The price has gone up $5.00 since the last time I listed this card and it WILL go UP at least ANOTHER $5.00 each time I relist it (unless you are...
  • Putin Calls U.S. Economic Parasite

    08/03/2011 12:03:33 PM PDT · by bananaman22 · 14 replies ^ | 03/08/2011 | Dr. John C.K. daly
    Don’t expect to see Russian President Vladimir Putin invited to the White House for a sleepover in the Lincoln Bedroom anytime soon. Vladimir Vladimirovich has committed the unpardonable diplomatic sin of speaking bluntly. Like Sherriff Woody from the Pixar movie “Toy Story,” Putin has declared “there’s a snake in my boot,” only in this case, it’s the U.S., which he labels a “parasite” on the global economy. Addressing a gathering of the pro-Kremlin youth group Nashi at their summer camp near Moscow Putin commented, "They are living beyond their means and shifting a part of the weight of their problems...
  • U.S. debt deal fails to assuage China

    08/02/2011 11:04:45 AM PDT · by Qbert · 4 replies
    MarketWatch ^ | Aug. 2, 2011 | Dorothy Zhang
    WASHINGTON (MarketWatch) — Despite the last-minute deal to lift the debt ceiling, the prospect of the United States losing its triple-A credit rating is still keeping Beijing and Hong Kong up at night. A possible downgrade is a difficult situation for China, said Diane Swonk, chief economist at Chicago-based financial services firm Mesirow Financial Holdings Inc. Swonk believes a downgrade of the U.S. credit rating is “still up for grabs” and Treasury Secretary Timothy Geithner said as much Tuesday morning in an ABC interview. [Snip] Meantime, Chinese market participants are feeling uneasy about the possible downgrade and the weak dollar....
  • Futures, Dollar Surging After Leaders Announce "Deal"

    07/31/2011 7:06:11 PM PDT · by blam · 29 replies
    TBI ^ | 7-31-2011 | Joe Weisenthal
    Futures, Dollar Surging After Leaders Announce "Deal" Joe Weisenthal Jul. 31, 2011, 8:45 PM At this hour, Obama, McConnell, Harry Reid, and John Boehner are all on the same page, with a debt ceiling "deal" that would avert default. Of course, our system doesn't work on 4 people agreeing to a deal. We still need to see votes, but regardless, markets like the news. The Nikkei is higher, US futures are higher, and the dollar (against the yen shown here) is surging.
  • Dollar as reserve currency undercurrent to debt debate

    07/30/2011 8:53:23 AM PDT · by packback · 7 replies
    Milwaukee Story ^ | 7/30/2011 | Shaun Booth
    The current debt ceiling debate is driven by the panic of the establishment in Washington knowing they could soon lose their power to print US dollars.
  • Debt Downgrade Catastrophe Ahead?

    07/20/2011 6:52:33 PM PDT · by Pride_of_the_Bluegrass · 11 replies
    The Kudlow Report ^ | CNBC Video
    Video at Link
  • The Dollar, Gold And The Quality Of Money

    07/20/2011 1:46:15 PM PDT · by Veritas_et_libertas · 13 replies
    Forbes ^ | 7/18/2011 | Charles Kadlec
    With every headline, it is becoming increasingly apparent how much the governing class has overreached. Those who believe in government are simply running out of other people’s money. For example, President Obama’s call to reverse the tax break given to owners of corporate jets in his 2009 stimulus bill would supposedly raise $300 million a year in revenue, enough to cover less than two hours of current deficit spending. Even if the Federal government could tax 100% of personal income in excess of $250,000 a year, it would collect little more than half of the revenue needed to balance the...
  • The Dollar, Gold And The Quality Of Money (Our most basic trust in gov't has been betrayed)

    07/19/2011 7:09:22 AM PDT · by SeekAndFind · 15 replies
    Forbes ^ | 07/19/2011 | Charles Kadlec
    Is gold money? That question, directed to Federal Reserve Chairman Ben Bernanke by Congressman Ron Paul in last week’s hearings before the House Financial Services Committee, strikes terror in the heart of all central bankers. Bernanke looked stunned and then answered, “No: Gold is an asset.” The rising price of gold reflects global uncertainties, he explained. “The reason that people hold gold is as a protection against what we call tail risks: really, really bad outcomes.” The daily headlines report those potential risks: governments needing bailouts, from Greece to Harrisburg, Pennsylvania; the possibility that the euro will splinter; runaway deficit...
  • Dollar “on the run” in Asia (Thank you very much Ben!)

    07/14/2011 11:42:03 AM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 07/14/2011 | Ed Morrissey
    I’d blame this on the Presidential Temper Tantrum, but the proximate cause of the US dollar’s overnight decline was actually Cheerful Ben Bernanke. After the Fed chair told Congress that a third round of quantitative easing might be in the offing if deflationary pressure began building, the market in Asia called his bluff and began dumping the greenback. One JPMorgan analyst called that news “unambiguously bad for the dollar” (via Instapundit): The U.S. dollar was on the run in Asia on Thursday after a ratings warning from Moody’s and a hint of further policy easing from the Federal Reserve unleashed...
  • China Urges U.S. to Take Responsible Action on Debt

    07/14/2011 4:33:50 AM PDT · by buzzer · 6 replies
    The New York Times ^ | July 14, 2011 | BETTINA WASSENER
    HONG KONG — China, the United States’ biggest creditor, on Thursday urged the U.S. government to act to protect investor interests, highlighting rising concerns around the globe about the protracted budget talks taking place in Washington. U.S. policy makers are locked in tense negotiations over the federal debt limit, which the Obama administration says must be raised from its current level of $14.29 trillion to allow the government to pay its daily bills and service any debt coming due. Any failure to pay debt coming due would effectively amount to a default, which, however brief, could shake confidence in the...
  • Ann Barnhardt - Exchange Rates, Gold and The Captain & Tennille

    07/14/2011 3:59:21 AM PDT · by plsjr · 8 replies
    Ann Barnhardt's Capital Management Inc. ^ | 13 July 2011 | Ann Barnhardt
    Exchange Rates, Gold and The Captain & Tennille Posted by Ann Barnhardt - July 13, AD 2011 10:15 PM MST The Combine is trying to downplay the relevance and importance of the price of gold, as we saw with Bernanke's comments to Ron Paul today. I want to make a mathematical point which I think is lost on most people, as most people really struggle with the concept of relative movements and relative mathematical relationships. Okay. The U.S. Dollar is quoted as an index relative to a basket of six currencies. Why is the U.S. Dollar quoted against a basket?...