Free Republic 4th Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $28,210
Woo hoo!! And the first 32% is in!! Thank you all very much!! God bless.

Keyword: usdollar

Brevity: Headers | « Text »
  • ISIS introduces ‘Golden Dinar’ currency, Hopes it will collapse U.S. dollar

    07/06/2016 5:12:05 PM PDT · by Fali_G · 45 replies
    The Foreign Desk ^ | 07/06/2016 | Lisa Daftari
    ISIS is now issuing its own currency referred to as the ‘Golden Dinar,’ with engravings bearing the words “Islamic State.” The coins, currently being released in limited quantity, are to primarily be used by traders in the oil industry in areas under Islamic State control, according to reports on jihadi online forums. Activists in Deir ez-Zor, Syria reported oil traders have been ordered to use the new Dinar when purchasing from ISIS-held oil fields. Reports from the Iraqi city of Mosul have indicated the Golden Dinar is being introduced to the currency market as part of a serious attempt to...
  • Senators Demand Obama Fire Top Aide for Iran Deal Deception

    05/16/2016 6:16:28 PM PDT · by MarvinStinson · 25 replies
    freebeacon ^ | May 16, 2016 | Adam Kredo
    Leading members of Congress are calling on President Barack Obama to fire one of his top advisers amid a deepening scandal over accusations the White House intentionally misled lawmakers and the American public about the contents of last summer’s comprehensive nuclear agreement with Iran, according to a letter sent Monday to Obama and obtained by the Washington Free Beacon. The lawmakers are pressing Obama to fire deputy national security adviser Ben Rhodes following revelations he and other officials “spearheaded the charge to mislead elected lawmakers and the American people about the Iran nuclear deal and the negotiations that led to...
  • Zimbabweans hunt for US cash as shortages bite

    05/05/2016 7:13:24 AM PDT · by Olog-hai · 19 replies
    Associated Press ^ | May 5, 2016 8:06 AM EDT
    Severe shortages of U.S. dollars that are used as local currency in Zimbabwe have forced many residents into cash hunter-gatherers. This week, Zimbabwe’s central bank imposed measures in an attempt to ease the cash crunch, which reflects the country’s dire economic situation. The measures include reducing the amount of money that travelers can take outside the country and limiting daily cash withdrawals. …
  • Officials: US mulls new rules on dollars to help Iran

    03/31/2016 8:36:49 AM PDT · by Olog-hai · 9 replies
    Associated Press ^ | Mar. 31, 2016 3:35 AM EDT | Bradley Klapper and Matthew Lee
    The Obama administration may soon tell foreign governments and banks they can start using the dollar in some instances to facilitate business with Iran, officials told The Associated Press, describing an arcane tweak to U.S. financial rules that could prove significant for Tehran’s sanctions-battered economy. While no decision is final, U.S. officials familiar with internal discussions said the Treasury Department is considering issuing a general license that would permit offshore financial institutions to access dollars for foreign currency trades in support of legitimate business with Iran, a practice that is currently illegal. Several restrictions would apply, but such a license...
  • Lazard Asset Management Fund Dumps The Dollar

    10/26/2009 11:07:33 AM PDT · by Lorianne · 6 replies · 495+ views
    Istock Analyst ^ | October 23, 2009
    It was only a matter of time before asset managers said "enough" to Bernanke's plan of debasing the dollar day after day, and took appropriate measures. In a not very surprising, yet quite shocking at the same time, development, caught by Annuity IQ, Lazard's The World Trust Fund has had enough of the dollar. Lazard will "change the currency in which the Fund's shares are traded from US dollars to Sterling." Good work Mr. Chairman and Wall Street lobby. The reason for the seismic shift: In response to comments from a number of shareholders and potential investors in the Fund...
  • Eleanor Roosevelt a Favorite Among Americans for New $10 Bill

    08/05/2015 11:49:36 AM PDT · by Zakeet · 97 replies
    NBC News ^ | August 5, 2015 | Kathryn Robinson
    Eleanor Roosevelt is the current front-runner in the race to earn a spot on the soon-to-be redesigned $10 bill, according to a McClatchy-Marist poll released Wednesday. The poll showed that more than one in four Americans (27%) are hoping that when the U.S. Treasury Department unveils the new design, the former first lady will be the woman featured. African-American abolitionist Harriet Tubman is the second most popular choice with 17% of the vote, followed by Native American explorer Sacagawea with 13%.
  • Currency Wars Continue As IMF Concedes End To Dollar Hegemony

    03/10/2015 9:07:39 AM PDT · by Olog-hai · 36 replies
    GoldCore ^ | March 9, 2015 | Mark O’Byrne
    Currency wars and the growing trend away from dollar dominance in international finance, particularly in emerging markets, was highlighted in an interesting CNBC article this morning entitled “Is the Dollar Losing its Clout Among EMs?” It refers to the deliberate and stated policy of “de-dollarization” around the world, the decline in the use of the dollar in international trade and as a reserve currency, and the emergence of the new BRICS bank. The article quotes best-selling author and Pentagon insider, Jim Rickards. Rickards says that the status of the dollar as a reserve currency is still solid despite its decline...
  • De-Dollarization: Russia, China Sign Currency Swap Agreement to Double $100b Trade...

    [LINKS & SOURCES] Janjuah on 2015: Oil at $30; bonds to go crazy How The FBI Invaded Martin Luther King Jr.'s Privacy -- And Tried To Blackmail Him Into Suicide Memphis Jury Sees Conspiracy in Martin Luther King's Killing Court Decision: U.S. “Government Agencies” Found Guilty in Martin Luther King’s Assassination Did You Know: US Gov’t Found Guilty In Conspiracy To Assassinate Dr. Martin Luther King, Jr. Markets expect decade of below-target inflation even as ECB readies QE Draghi Sees Almost $1 Trillion Stimulus as QE Fight Waits Davos Agenda: Euro-Zone Deflation, Terrorism,...
  • Surging dollar takes bite out of US corporate profits

    02/20/2015 9:45:51 PM PST · by Olog-hai · 11 replies
    Associated Press ^ | Feb 21, 2015 12:06 AM EST | Matthew Craft
    The biggest obstacle for Coca-Cola and Pepsi these days isn’t tied to taste tests, the declining popularity of sugary drinks or even their century-long rivalry. It’s the surging U.S. dollar. The two soda giants rely on overseas customers for roughly half of their revenue. When they turned in their quarterly results last week, both reported a drop in sales. The strong dollar made all the difference: strip it out and shrinking sales suddenly rise. The dollar has been a source of constant complaint this earnings season. Global corporations from Avon Products to Yum Brands have said their quarterly results would...
  • Iran Is Ditching The Dollar In Foreign Trade [Ezekiel 38]

    01/27/2015 3:29:03 PM PST · by Jan_Sobieski · 12 replies
    Business Insider ^ | 1/27/2015 | Elena Holodny
    (Vladimir Putin, right, with his Iranian counterpart Hassan Rouhani in 2014.) Iran is ditching the dollar. Iran is no longer using the US dollar in foreign-trade transactions and is replacing it with other currencies, t he deputy governor at the Iranian Central Bank Gholami Kamyab said, according to Sputnik News. "In trade exchanges with the foreign countries, Iran uses other currencies including Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won," Kamyab reportedly said. He also reportedly added that Iran was considering bilateral currency-swap agreements, which would allow partners to exchange one foreign currency for the equivalent...
  • The BRICs Are Morphing Into An Anti-Dollar Alliance (Obama/Putin working together to kill US dollar)

    07/03/2014 5:04:47 PM PDT · by free_life · 8 replies ^ | 07/02/2014 | Tyler Durden
    Sergey Glaziev the head of the Russian central bank in her discussion with Vladimir Putin, unveiled an elegant technical solution for this problem and left a clear hint regarding the members of the anti-dollar alliance that is being created by the efforts of Moscow and Beijing. On June 10th, Sergey Glaziev, Putin's economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal would be to break the Washington's money printing machine that is...
  • “This Is A Trend”: Increasingly More Russian Companies Set To Drop Dollar, Switch To Chinese Yuan

    06/10/2014 12:49:52 PM PDT · by Olog-hai · 56 replies
    Zero Hedge ^ | 06/09/2014 07:52 -0400 | Tyler Durden
    As we have been reporting (and forecasting for the past several years), the Eurasian anti-US Dollar axis is rapidly taking shape, with recent events catalyzed and certainly accelerated by US foreign policy in Ukraine, which has merely succeeded in pushing Russia that much closer, and faster, to China. The latest proof of this came overnight when the FT reported that Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers. According to Pavel Teplukhin, head of Deutsche Bank...
  • Steve Forbes: Link Dollar To Gold Or Face Great Depression II

    06/03/2014 9:25:18 AM PDT · by blam · 43 replies
    Washington Examiner ^ | 6-3-2014 | Paul Bedard
    Paul Bedard June 3, 2014 Influential financial publisher and former presidential candidate Steve Forbes is out with a new warning that the U.S. faces an economic catastrophe due to the Federal Reserve's loose dollar policy, and returning to a strict “gold standard” is the only way to avoid disaster. In Money: How the Destruction of the Dollar Threatens the Global Economy -- and What We Can Do About It, Forbes blames President Obama's money team for the stagnant economy, high prices, declining mobility and big government. "[The Fed's] vastly misguided monetary policies are now setting the stage for a new...
  • 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:...
  • Cuba to eliminate currency pegged to dollar

    12/21/2013 1:31:04 PM PST · by Olog-hai · 14 replies
    Associated Press ^ | Dec 20, 2013 9:24 PM EST | Andrea Rodriguez
    Cuba will eliminate a currency pegged to the dollar as part of a move to end its unique double-currency system, which had become a symbol of economic inequality to many islanders, Cuba’s top economic official said Friday. Tourists currently use a convertible peso roughly equal to a U.S. dollar while most Cubans are paid in ordinary pesos worth about four cents. Many goods are easier to find in government stores that exclusively accept convertible pesos, a mechanism designed to keep the flow of the special currency under government control. The dual system has created special privileges for Cubans who work...
  • Dollar sinks as US jobs data signals more Fed stimulus

    10/22/2013 7:56:22 PM PDT · by TexGrill · 39 replies
    ChannelNewsAsia ^ | 10/23/2013 | AFP
    The US dollar sank against the euro Tuesday after fresh data on the jobs market pointed to the Federal Reserve not cutting back its stimulus before 2014. WASHINGTON: The US dollar sank against the euro Tuesday after fresh data on the jobs market pointed to the Federal Reserve not cutting back its stimulus before 2014. The prospect of the Fed's easy money program staying unchanged, after months of expectations of tightening, pushed the euro to its highest level on the greenback since November 2011. At 2100 GMT, the euro bought US$1.3780, compared to US$1.3681 late Monday. The September data showed...
  • THE GLENN BECK RADIO PROGRAM, Live 9am-Noon weekdays ET, Aug 28, 2013, Wednesday

    08/28/2013 6:01:21 AM PDT · by Yosemitest · 20 replies ^ | Aug 28, 2013, Wednesday | Glenn Beck
    Listen To Glenn Beck Now, on The Blaze Radio Network on . Truth Lives Here Known for his quick wit, candid opinions and engaging personality, Glenn Beck has attracted millions of viewers and listeners throughout the United States with The Glenn Beck Program. His radio show, The Glenn Beck Program, is heard on over 400 stations and is syndicated by Premiere Radio Networks. It is the third highest-rated national radio talk show among adults ages 25 to 54. Looking for audio and video from the radio program? If you’re a TheBlaze TV Subscriber you can access all your...
  • Ben Franklin gets a makeover: New and improved $100 bill coming in October

    04/25/2013 12:00:46 AM PDT · by Windflier · 37 replies
    Mail Online ^ | 24 April 2013 | Daily Mail Reporter
    The Federal Reserve announced Wednesday that it will begin circulating a $100 bill redesigned with high-tech security features this fall, more than two years after its initial target. The Fed has set a target date of October 8. The revamped note incorporates added security features, such as a blue, 3-D security ribbon and a disappearing Liberty Bell in an inkwell that switches color from copper to green when tilted. The features are designed to thwart counterfeiters. The new notes, which cost slightly more to produce, also boast a large '100' that shifts colors as the viewing angle is tilted.
  • Sorry, Mates, Strictly Business: Australia Wants To Cut Out US Dollar In Trade With China

    04/01/2013 9:53:45 AM PDT · by autumnraine · 21 replies
    International Business Times ^ | 3/29/2013 | Ryan Villarreal
    ustralia is seeking to bypass trading in U.S. dollars with China in an effort to avoid the commercial uncertainties that come with the recent fluctuations in the greenback. For example, just a half a year ago, the dollar traded at about $1.20 to the euro; by February, it had weakened to $1.34 per euro and now it is going for $1.27. Eliminating the dollar in trade will be the focus of Australian Prime Minister Julia Gillard’s trip to Beijing next week. Trade with China, Australia’s primary trading partner, totaled $120 billion in the last fiscal year. China buys nearly one-third...
  • Dow’s winning streak ends; dollar falls

    03/15/2013 2:13:20 PM PDT · by Olog-hai · 14 replies
    Reuters ^ | Fri Mar 15, 2013 4:52pm EDT | Richard Leong
    Wall Street stocks fell on Friday as a drop in JPMorgan Chase led to the end of Dow Jones industrial average’s 10-day rally, while the dollar retreated from a seven-month high despite more signs the U.S. economy is strengthening. With the pullback in U.S. stock prices, the broader Standard & Poor’s 500 index .SPX failed to make another run to break its all-time closing high, while European shares retreated from 4½-year highs. Investors shifted some money into safe-haven gold and U.S. and German government debt ahead of the weekend. … The Dow Jones industrial average .DJI ended down 25.03 points,...
  • Euro jumps to 11-month high against dollar

    01/25/2013 11:45:49 AM PST · by Olog-hai · 7 replies
    Associated Press ^ | Jan 25, 2013 12:55 PM EST
    The euro hit an 11-month high against the dollar after the European Central Bank said that banks were expected to pay back emergency loans faster than expected, increasing confidence that Europe’s debt crisis is easing. … The euro rose as high as $1.3479, the highest since Feb. 2012. The euro was worth $1.3371 late Thursday. …
  • US Dollar Falls After August Factory Orders Slumps By Most Since 2009

    10/04/2012 12:39:49 PM PDT · by SeekAndFind · 19 replies
    Daily FX ^ | 10/04/2012 | Tzu-Wen Chen
    THE TAKEAWAY: U.S. factory orders plummets in August by most since January 2009 > Demand likely to remain weak amid global slowdown and weak business spending > USDJPY bearish New orders to U.S. factories plunged in August by the most since January 2009, as a sharp slump in transportation weighed on manufacturing activity. According to the U.S. Department of Commerce, orders for factory goods declined 5.2 percent in August, following a revised gain of 2.6 percent the previous month that was lower than the 2.8 percent growth initially reported. The consensus forecast of 66 economists surveyed by Bloomberg News had...
  • China buying oil from Iran using the Yuan, reveals Tehran ambassador in UAE

    05/12/2012 12:08:42 AM PDT · by Olog-hai · 6 replies
    MercoPress ^ | Tuesday, May 8th 2012 - 22:37 UTC
    Iran is using the revenue to buy goods and services from China, Mohammed Reza Fayyad, Iran's ambassador to the United Arab Emirates, confirmed. China is the biggest buyer of Iranian crude oil exports. The country buys some $20-30 billion of oil from Iran each year, but the US has been pressuring Beijing to join an international boycott of Iran over Tehran's nuclear program. The Iranian ambassador's comments, reported by the Reuters news agency, confirmed a report in the Financial Times that claimed that Unipec (a subsidiary of the Chinese state-owned oil firm Sinopec) was buying the oil, as was another...

    05/12/2008 4:10:03 PM PDT · by SJackson · 12 replies · 99+ views
    IMRA ^ | 5-12-08
    HIZBOLLAH VICTIMS BRING HISTORIC CIVIL SUIT AGAINST MEGA-BANK May 12, 2008 For Immediate Release VICTIMS OF HIZBOLLAH MISSILE ATTACKS BRING HISTORIC CIVIL ACTION AGAINST UBS IN NEW YORK FEDERAL COURT A group of American victims of Iranian sponsored terror have filed a civil action in the United States District Court for the Southern District against the Swiss mega-bank, UBS AG. The plaintiffs, all of whom had family members injured or killed in Iranian-backed terror attacks, allege that UBS' unlawful eight year-long provision of financial services to the Islamic Republic at the time Iran was providing material support to terrorist organizations...
  • Goldman Sachs Goes Short The US Dollar On QE3

    08/10/2011 8:18:29 AM PDT · by SeekAndFind · 3 replies
    Zero Hedge ^ | 08/10/2011 | Tyler Durden
    Yesterday Goldman finally made it clear that Bill Dudley's marching orders are given: QE3 or no soup for you. Well, it didn't take long for the order from top to hit Goldman's FX desk, which has just issued this logical note: "Going short the USD on additional Fed easing." Odd, no easing has yet been announced, and according to so many none will come. But Goldman said so. So it must be. From Thomas Stolper: We have long argued that structural imbalances in the US will lead to more Dollar weakness. There are two main transmission channels: First, the current...
  • Euro troubles and US economic data lift the dollar

    06/24/2011 12:19:26 PM PDT · by NormsRevenge · 9 replies · 1+ views
    Yahoo Finance ^ | 6/24/11 | AP
    NEW YORK (AP) -- The dollar rose against the euro Friday after new data showed the U.S. economy grew slightly faster than was thought and fears were renewed over contagion from the Greek debt crisis. The Commerce Department said that the economy grew at an annual rate of 1.9 percent in the first quarter, a touch higher than the 1.8 percent that was estimated a month ago. Commerce also said in a separate report that businesses increased their orders for machinery, electronics products and airplanes last month. Durable goods orders rose 1.9 percent in May after a 2.7 percent decline...
  • [Peter] Diamond's Exit A Warning To Fed Against QE3

    06/06/2011 8:03:29 PM PDT · by SunkenCiv · 8 replies 'blogs ^ | Monday, June 6th, 2011 | Ed Carson
    Don't even think about it, Ben. That's the message Capitol Hill is sending the Federal Reserve chairman regarding a possible third round of quantitative easing after Peter Diamond withdrew his nomination to join the Fed Board of Governors today. The Nobel prize winner -- Bernanke was once a student of his -- certainly had the credentials. But the Senate had sat on his nomination for 14 months. Republicans objected to his support of the Wall Street bailouts and the Fed-s aggressive monetary policy, including its current "QE2" $600 billion Treasury buying program... There's some speculation that the Fed could adopt...
  • When Faith In U.S. Dollars And Debt Is Dead, The Game Is Over – That Day Is Closer Than We Think

    05/29/2011 8:51:21 AM PDT · by SeekAndFind · 38 replies
    The Economic Collapse ^ | 05/29/2011 | Michael Snyder
    A day is coming when the rest of the world will decide that it no longer has faith in U.S. dollars or in U.S. debt. When that day arrives, the game will be over. Traditionally, two of the biggest things that the U.S. economy has had going for it were the U.S. dollar and U.S. Treasuries. The U.S. dollar has been the default reserve currency of the world for decades. All over the globe it was seen as a strong, stable currency that was desirable for international trade. U.S. government debt has long been considered the "safest debt" in...
  • Some See Rise Ahead for the US Dollar. Could the Slide be Over?

    05/18/2011 7:32:10 AM PDT · by SeekAndFind · 24 replies
    New York Times ^ | 05/18/2011 | Landon Thomas
    Could the long dollar slide be over? For the better part of the past decade, and particularly in the last few months, the American dollar has been the 98-pound weakling of the foreign exchange world. It has lost value against almost every other global currency — not just the euro, pound and yen but even the Romanian new leu and the Latvian lats. Driven largely by the Federal Reserve’s policy of printing dollars to help spur a healthy economic recovery that remains stubbornly elusive, the dollar, weighed against a basket of other currencies, hit a 40-year low this month. But...
  • The Next Two Months: Best Case, Medium Case, Worst Case

    04/29/2011 12:02:58 PM PDT · by blam · 16 replies
    SHTF Plan ^ | 4-29-2011 | Mac Slavo
    The Next Two Months: Best Case, Medium Case, Worst Case Mac Slavo April 29th, 2011 David Galland put together an analysis worthy of your time where he discusses various viable scenarios we may see play out with the US dollar, stocks, commodities, and precious metals in coming months: …given the current ill health of the dollar, I remain convinced that the Fed will pause in its blunt-force monetization, come June. And that is likely to provide a shot in the arm for the dollar – versus the equivalent of a shot in the head to the dollar, should they reverse...
  • Silver Surges To 31-Year High, Gold Hits New Record[Weak Dollar,Fear of Fed Policy Setting Meeting]

    04/25/2011 8:06:30 AM PDT · by fight_truth_decay · 17 replies | 10:33AM BST 25 Apr 2011 | Reuters
    The spot price of silver surged more than 5pc to just above $49 ounce on Monday, buoyed by a weak dollar and strong physical demand in Asia also propelled gold to a record high for a seventh consecutive session. Spot silver hit a 31-year high of $49.31 an ounce, 17 cents off its 1980 record, heading for its biggest daily gain in five months. "Everyone is buying," said a Hong Kong-based dealer. "There is stop-loss buying, as well as a good buying interest from China." US silver futures jumped, 8.2pc to $49.82 an ounce – about 50 cents off its...
  • Where To Find The “Anti-Dollar” (Hint: It’s Not Gold)

    04/24/2011 12:33:17 PM PDT · by SeekAndFind · 18 replies
    Business Insider ^ | 04/23/2011 | The Daily Reckoning
    There’s a currency I think of as the “anti-dollar” that continues to appreciate against the US dollar. Unlike gold, the “anti dollar” can be used to maximize other investments. I’ll reveal this currency in a moment. But first, why would you want an “anti-dollar” in the first place? The US has a multi-decade history of borrow and spend. Worse than that, it’s more extreme today than ever before. The government has to borrow about half of what it spends. And policy makers are printing money like crazy to “stimulate” the economy (even if they do give it fancy names like...
  • Mark Steyn: The Disappearing Dollar. How much longer can it remain the world’s currency standard?

    04/23/2011 1:18:05 PM PDT · by SeekAndFind · 41 replies
    National Review ^ | 04/23/2011 | Mark Steyn
    <p>Congressman Paul Ryan, one of the least insane men in Washington, has a ten-year plan.</p> <p>President Obama, one of the most insane spenders in Washington, has a twelve-year plan.</p> <p>After hearing the president’s plan, Standard & Poor’s downgraded the U.S. sovereign-debt outlook to “negative.” Ah, the fine art of understatement. In 1940, after the fall of France and the evacuation from Dunkirk, presumably they downgraded Britain’s outlook to “spot of bother.”</p>
  • For the dollar, a 'crisis' is relative. With no alternative, a USD collapse is unlikely

    04/23/2011 8:21:27 AM PDT · by SeekAndFind · 75 replies
    Los Angeles Times ^ | 04/23/2011 | Tom Petruno
    The greenback has been in decline for a decade, but the latest slide is setting off alarms. Still, a collapse seems unlikely given the lack of a real global alternative to the dollar's status. Housing crisis, 2007. Banking crisis, 2008. Unemployment crisis, 2009. European debt crisis, 2010. For 2011: a dollar crisis? You will probably hear more warnings to that effect soon if the U.S. currency continues on its current path. Although the dollar has mostly been falling against its major foreign rivals since 2001, the slide this spring is taking it to levels that fit conveniently with a variety...
  • Fleeing the Dollar Flood. The World tries to protect itself from a devaluing US Currency.

    04/21/2011 6:34:18 AM PDT · by SeekAndFind · 17 replies
    Members of the International Monetary Fund emerged from their huddle in Washington last weekend resolved to keep every option open to slow the flood of dollars pouring into their countries, including capital controls. That's a dangerous game, given the need for investment to drive economic development. But it's also increasingly typical of the world's reaction to America's mismanagement of the dollar and its eroding financial leadership. The dollar is the world's reserve currency, and as such the Federal Reserve is the closest thing we have to a global central bank. Yet for at least a decade, and especially since late...
  • China warns of 'dollar trap'. Top Chinese economist laments lack an alternative to greenback

    04/20/2011 7:53:02 AM PDT · by SeekAndFind · 20 replies
    Fortune ^ | 04/20/2011 | Colin Barr
    The dollar can't catch a break lately. A top Chinese economist warned that the world has fallen into a "dollar trap," as U.S. trading partners lack an alternative to the greenback and can't prevent the Federal Reserve from printing more money. The arrangement means big holders of dollars – such as China, which holds some $3 trillion of foreign exchange reserves, mostly in dollars – must sit idly by and watch as the value of their holdings erode. They can't lightly diversify out of dollars at the risk of accelerating the erosion. The setup "lacks both stability and fairness," wrote...
  • The US Dollar is not Sick, it’s Terminal

    04/12/2011 9:31:04 AM PDT · by SeekAndFind · 3 replies · 1+ views
    Market Pulse FX ^ | 04/12/2011 | Dean Popplewell
    This week the dollar has had the classic opportunity to rally aggressively. Global risk appetite has subsided, commodity currencies have fallen and investors were willing to take profit. Instead, we have witnessed only a feeble attempt to rise. The dollar is more than sick, it’s terminal. With the Fed expected to now trail all other Cbanks when it comes to tightening, is putting the dollar near the bottom of the G10 carry trade league and up there with the classic funding currencies. Even the hawks are unable to save their currency from the abyss. Expect the fears of a...
  • Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency

    02/11/2011 10:08:27 AM PST · by SeekAndFind · 41 replies
    The Economic Collapse ^ | 02/11/2011 | Michael Snyder
    The IMF is trying to move the world away from the U.S. dollar and towards a global currency once again. In a new report entitled "Enhancing International Monetary Stability—A Role for the SDR", the IMF details the "problems" with having the U.S. dollar as the reserve currency of the globe and the IMF discusses the potential for a larger role for SDRs (Special Drawing Rights). But the IMF certainly does not view SDRs as the "final solution" to global currency problems. Rather, the IMF considers SDRs to be a transitional phase between what we have now and a new world...
  • Ryan confronts Bernanke over Fed’s purchases of U.S. debt, raises concerns about the dollar

    02/09/2011 12:51:56 PM PST · by Ernest_at_the_Beach · 21 replies
    The Daily Caller ^ | 3:15 PM 02/09/201 | By Jon Ward - The Daily Caller
    House Budget Committee Chairman Paul Ryan challenged Federal Reserve Chairman Ben Bernanke’s policy of so-called quantitative easing – the printing of new U.S. dollars to buy government debt – and raised concerns that a weakened dollar and inflation could cause the loss of the currency’s global reserve status.“There is nothing more insidious that a country can do to its citizens than debase its currency,” Ryan told Bernanke. “Chairman Bernanke: We know you know this. We know that you’re focused and concerned about this. The Fed’s exit strategy and future policy – it will determine how this ends.”Ryan said he believed...
  • Remember media One-Liner's mocking President Bush about gas prices? I paid $3.15 a gallon today....

    12/08/2010 10:49:58 AM PST · by macquire · 36 replies
    Q: What is President Bush's new fitness program to get people walking again? A: GAS at $3/gallon
  • U.S. Fiscal Health Worse Than Europe's: China Central Bank

    12/08/2010 2:45:11 AM PST · by lbryce · 7 replies
    New York Times ^ | December 8, 2010 | Staff
    The U.S. dollar will be a safe investment for the next six to 12 months because global markets are focused on the euro zone's troubles but the U.S.'s fiscal health is worse than Europe's, an adviser to the Chinese central bank said on Wednesday. Li Daokui, an academic member of the central bank's monetary policy committee, said that U.S. bond prices and the dollar would fall when the European economic situation stabilized. "For now, market attention is still on Europe and for the coming 6-12 months, it will not shift to the United States," Li said, when asked about U.S....
  • The Repercussions Of Nearly One Trillion In QE

    11/03/2010 9:36:29 PM PDT · by Razzz42 · 40 replies
    Jim Sinclair's Mineset ^ | November 3, 2010 at 11:24 pm | Dan Norcini
    ...It is my opinion that the US has long wanted to engineer a manageable decline in the currency on account of the now mathematically-impossible-to-ever-pay-back debt load that our nation has been saddled with. They will get their wish but at a terrible cost to the rest of us and to the nation at large as it watches its economic supremacy gradually fade. That will be the legacy of the Federal Reserve system and the contemptible monetary authorities who sold out our nation’s birthright for a bowl of stew.
  • It is folly to place all our trust in the Fed

    10/19/2010 6:51:36 AM PDT · by WebFocus · 3 replies
    Financial Times ^ | 10/19/2010 | Joseph Stiglitz
    In certain circles, it has become fashionable to argue that monetary policy is a superior instrument to fiscal policy – more predictable, faster, without the adverse long-term consequences brought on by greater indebtedness. Indeed, some advocates wax so enthusiastic that they support recent drives for austerity in many European countries, arguing that if there are untoward effects they can be undone by monetary policy. Whatever the merits of this position in general, it is nonsense in current economic circumstances. A quarter-century ago proponents of monetary policy argued, with equal fervour, in favour of monetarism: the most reliable intervention in the...
  • Hourly Action In Gold From Trader Dan

    10/11/2010 1:42:26 PM PDT · by Razzz42 · 3 replies
    Jim Sinclair's Mineset ^ | October 11, 2010 at 2:00 pm | Dan Norcini
    ...Incidentally, those of you interested in watching the moves in food prices should know that corn hit its expanded limit to the upside in overnight trade before setting back some. It reached $5.73 bushel and is not far from putting a handle of “6” on itself. Soybeans are nearing $12 with wheat above $7.00. Once again cotton hit limit up as its price continues getting ridiculously high yet there appears to be no end in sight to the buyers. Analysts are blaming it on China which is buying up all the cotton it can get its hand on and which...
  • Ron Paul: Media "Amen corner" poo poos gold

    07/24/2010 2:21:26 PM PDT · by citizenredstater9271 · 48 replies · 1+ views
    Youtube ^ | July 24, 2010 | RidleyReport
    Ron Paul explains why we need to put our money in gold and how we can do that as America slowly drifts towards socialism. I'm fully aware I can't change any one's mind about Dr. Paul on FR but please listen to this video you might agree with some of what he says.
  • Dumping the US Dollar: Why it's time to diversify

    07/14/2010 8:18:36 AM PDT · by SeekAndFind · 7 replies
    Fortune ^ | 07/14/2010 | Nin Hai-Tseng
    Imagine a world without the almighty greenback as the main reserve currency. It's not an easy thought. The U.S. dollar has long been the global currency of choice. As much as 64% of the world's currency reserves are held in greenbacks, according to the IMF. But given the manic ups and downs of the dollar in recent years, it may finally be time to diversify the world's reserves. And that's exactly what some central bankers around the globe are now doing. This comes as a growing number of economists and policymakers are calling to move away from the greenback as...
  • China in pre-G20 climbdown over yuan

    06/19/2010 3:21:44 PM PDT · by bruinbirdman · 2 replies · 441+ views
    The Telegraph ^ | 6/19/2010 | Garry White
    China said yesterday that it would allow a more flexible yuan, bringing to an end its controversial 23-month peg to the US dollar which has been accused of keeping Chinese exports artificially cheap. The People's Bank of China (PBOC) ruled out the one-off revaluation that US politicians had sought, arguing that there was "no basis for big fluctuations or changes". Instead, the yuan's 0.5pc daily trading band will remain unaltered, but the central bank will use a system of setting daily reference rates for the currency to slowly guide the exchange rate against the dollar higher. This is a similar...
  • 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...
  • Why I Don't Trust Gold

    05/27/2010 6:47:03 AM PDT · by SeekAndFind · 115 replies · 2,128+ views
    Wall Street Journal ^ | 05/27/2010 | Brett Arends
    This is a very sad day for me. In Part One of this series, when I argued that gold might be about to go vertical, I made a whole bunch of new friends among the gold bugs. And now I'm going to lose them all. That's because even though I think gold might be about to take off, I don't recommend you rush out and put all your money into gold bars or exchange-traded funds that hold bullion. And this is for one simple reason: At some levels, gold, as an investment, is absolutely ridiculous. Warren Buffett put it well....
  • Ex-Goldman trader blows whistle on silver and gold market manipulation by JP Morgan (Done for Fed)

    04/11/2010 8:17:32 AM PDT · by JustTheTruth · 151 replies · 8,105+ views
    New York Post ^ | April 11, 2010 | Michael Gray
    Metal$ are in the pits Posted: 2:10 AM, April 11, 2010 There is no silver lining to the activities of JPMorgan Chase and HSBC in the precious-metals market here and in London, says a 40-year veteran of the metal pits. The banks, which do the Federal Reserve's bidding in the metals markets, have long been the government's lead actors in keeping down the prices of gold and silver, according to a former Goldman Sachs trader working at the London Bullion Market Association. Maguire was scheduled to testify last week before the Commodities Futures Trade Commission, which is looking into the...