Keyword: dollar

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  • Billionaire Investors Back A Gold Price Rally In 2016

    06/08/2016 4:00:24 PM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | Frankie
    It wasn’t so long ago that some of the more famous investor gurus were shrugging off gold as nothing more than shiny trinkets with no investment value. They were wrong. This safe haven is back, the recovery is clear, and there have been some very big changes of heart. The biggest gold producers in the world have seen their share prices double this year. Not only are gold prices soaring, but producers are cutting costs and slimming down debt as they pave the way for gold to return to the top of the favored commodities list. Even though gold dropped...
  • Saudi Authorities Panic As Speculators Drive Currency Down

    06/06/2016 1:26:43 PM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 06-06-2016 | ZH
    With Saudi Riyal forwards plunging back below 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue plunges. Saudi Arabia ordered banks in the kingdom to stop selling some products that allow speculators to bet against its currency peg just days after demanding information from lenders on the offerings, according to people with knowledge of the matter. The Saudi Arabia Monetary Agency sent a circular to banks this week saying...
  • 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...
  • Zimbabwe To Print Its Own US Dollars Amid Severe Cash Shortage

    05/07/2016 12:20:37 PM PDT · by Lorianne · 82 replies
    Zero Hedge ^ | 06 May 2016 | Tyler Durden
    When Jim Chanos said earlier this week that days ago that sub-Saharan Africa is facing a severe cash shortage (mostly as a result of their collapsing oil export revenue) he probably did not have the economic basket case of Zimbabwe in mind, and yet this is the country which, after years of monetary and economic collapse "problems", including the occasional bout of hyperinflation, finds itself in the most dire situation. As News24 reports, just this past week, Zimbabweans formed long queues outside banks on Thursday as a cash shortage prompted the government to announce plans to print a local version...
  • CHINA SAYS "NO DOLLARS" FOR NEW YUAN

    04/16/2016 6:08:49 PM PDT · by combat_boots · 75 replies
    SuperStation 95 ^ | 4 13 2016 | US Reporter
    In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19. When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts...
  • America The Awesome: The Mighty Dollar

    04/11/2016 6:08:24 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | April 11, 2016 | Mark Nuckols
    This is the first in an eight-part series about America's awesomeness. The United States of America is the most awesome country in the world – even when I was a child. I was grateful to live in America and not in some impoverished Third World country. But it is really my experiences living abroad and traveling across the globe that have utterly convinced me that America is a uniquely great country. Democracy and liberty are clearly the two most important birthrights of Americans. But today I want to write about the U.S. dollar. A stable national currency and low inflation are...
  • The Fed, the Dollar, and Oil

    03/23/2016 5:03:26 AM PDT · by expat_panama · 10 replies
    financial sense ^ | 03/22/2016 | Matthew Kerkhoff
    Five consecutive weeks of gains makes it hard to argue that we’re in a bear market. While it may not seem like much has changed since the markets last swooned, a few key developments remain supportive of stock prices.In particular, a shifted stance on monetary policy, change in the trajectory of the dollar, and recovery in oil prices have turned sellers into buyers.The Fed Last Wednesday the Federal Reserve confirmed what many had anticipated going into the latest FOMC meeting: that the Fed would have to back off of its four-rate-hike plan for 2016.For some time now, the Fed’s...
  • Lord Monckton: ‘The Texas Talent Will Replace the Dollar’

    03/06/2016 8:03:54 AM PST · by Texas Fossil · 44 replies
    San Antonio Tea Party (republished from American Thinker 10/17/15) ^ | Republished from AmericanThinker.com October 17, 2015 | John Griffing
    Christopher Monckton, 3rd Viscount Monckton of Brenchley, who advised Prime Minister Margaret Thatcher, wrote for the Yorkshire Post, was managing editor of the Telegraph Sunday Magazine, has lectured at faculty level on currency theory and is now a columnist for WND, has long given warnings that the over-borrowing governments of the West are on a course to bankruptcy, from which recovery will not be possible.Monckton has now come out with his personal plan to sideline the collapsing dollar and rescue western markets: a sound and fully asset-backed currency called the Texas Talent. Users of the Talent would trade in their...
  • Dollar tumbles as Fed rescues China in the nick of time

    02/05/2016 6:06:31 PM PST · by Lorianne · 16 replies
    Telegraph (UK) ^ | 04 February 2016 | Ambrose Evans-Pritchard
    The US dollar has suffered one of the sharpest drops in 20 years as the Federal Reserve signals a retreat from monetary tightening, igniting a powerful rally for commodities and easing a ferocious squeeze on dollar debtors in China and emerging markets. The closely-watched dollar index (DXY) has fallen 3pc this week to 96.44 and given up all its gains since late October. This has instant effects on the world’s inter-connected financial system, today more geared to the US exchange rate and Fed policy than at any time in modern history. David Bloom, from HSBC, said the blistering dollar rally...
  • Exclusive: Iran wants euro payment for new and outstanding oil sales - source

    02/07/2016 9:36:26 AM PST · by BenLurkin · 22 replies
    rueters ^ | 02/05/2016 | Nidhi Verma
    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil. "In our invoices we mention a clause that buyers of our oil...
  • SocGen claims China is only months away from burning through its currency reserves

    02/04/2016 8:39:07 PM PST · by Zhang Fei · 48 replies
    Marketwatch ^ | Feb 4, 2016 1:47 p.m. ET | Sue Chang
    China is burning through its foreign-currency reserves at such a blistering pace that the country will run down its cushion in a few months, forcing the government to wave the white flag and float the yuan, says Societe Generale global strategist Albert Edwards. "The market remains content that massive firepower remains to support the renminbi. It does not," Edwards, a perma-bear with a propensity for doom-and gloom-prognoses, said in a report published Thursday. Societe Generale, using the International Monetary Fund's rule of thumb on reserve adequacy, estimates that China's foreign-currency reserves are at 118% of the recommended level. But that...
  • A BEATIFUL REFRESHING IS HERE[Charismatic Caucus]

    02/02/2016 10:11:08 AM PST · by Jedediah · 8 replies
    bible,The Joshua Chronicles ^ | 2-2-16 | Holy Spirit, bible
    I saw a huge waterfall pouring over a beautiful rock formation and the water looked like liquid glass so pure and transparent you could see all the rocks behind it . All around the base of the waterfall were people and they were enjoying the refreshing spray and droplets covering them as a beautiful misty spray and the droplets just seemed to hang in the air effortlessly and the sound of the waterfalls was the roar of His Voice. As I looked over where the water goes over the falls I saw Jesus with his bare feet standing in the...
  • Michigan Becomes First State to Welcome Back Sub-$1 Gas

    01/18/2016 6:18:29 AM PST · by Enlightened1 · 61 replies
    Fox 5 NY ^ | 01/18/16
    Gasbuddy.com says several stations in Houghton Lake, Michigan have lowered their prices under $1 per gallon, in what appears to be a price war. According to GasBuddy it appears these stations are currently the first stations in the country to see prices under $1 per gallon in years. As the situation unfolds, it's possible these stations re-raise prices back over $1/gallon. 78 cents per gallon was recorded at Beacon & Bridge Market while 95 cents per gallon was recorded at the Marathon in Houghton Lake. Prices were verified by GasBuddy after a review of photographs uploaded to GasBuddy's app.
  • Pressure Grows on Saudi Arabia to Ditch Dollar Peg

    01/05/2016 10:06:44 AM PST · by BenLurkin · 7 replies
    Wall Street Journal ^ | 01/05/2016 | Tommy Stubbington And Nikhil Lohade
    The falling oil price has pressured Riyadh's coffers, pushing the government to lay out budget cuts last week. The clash with Iran could magnify regional tensions and push Saudi Arabia's defense costs up as it fights an expensive war in Yemen and supports allies in conflicts elsewhere. "We have a new economic reality in the Gulf region, with oil prices so much lower," said Michael Cirami, a portfolio manager at Eaton Vance. "That requires an adjustment." Mr. Cirami, who isn't currently making this bet, thinks Riyadh is unlikely to scrap its peg in 2016, but will come under growing pressure...
  • China’s Renminbi Is Approved by I.M.F. as a Main World Currency [Video behind link.]

    11/30/2015 12:48:55 PM PST · by familyop · 34 replies
    New York Times ^ | NOV. 30, 2015 | KEITH BRADSHER
    HONG KONG--The International Monetary Fund on Monday designated the Chinese renminbi as one of the world's elite currencies, a major milestone that underscores the country's rising financial and economic heft. The decision will help pave the way for broader use of the renminbi in trade and finance, securing China's standing as a global economic power. Just four other currencies--the dollar, the euro, the pound and the yen--have the I.M.F. designation...Many central banks follow this benchmark in building their reserves, which countries hold to help protect their economies in times of trouble. By adding the renminbi to this group, the I.M.F....
  • Will Next Week Be The Start Of The Crash Of The US Dollar?

    11/29/2015 5:11:54 PM PST · by Rockitz · 38 replies
    ZeroHedge.com ^ | 29 November 2015 | SecularInvestor
    The year 2015 is coming to an end and we’ve seen a lot this year. Not only did we see a much stronger dollar, the gold price also weakened despite the dire economic situation in, well, everywhere in the world, terrorist attacks and additional tensions between a NATO member and Russia. Additionally, the Federal Reserve seems to be on track to increase the interest rate before the end of this year. In fact, as you can see on the next chart, gold has now almost reached a 6 year low, but two important indicators are indicating the yellow metal might...
  • China’s Renminbi Is Approved as a Main World Currency

    11/30/2015 9:41:22 AM PST · by Swordmaker · 13 replies
    New York Times ^ | NOV. 30, 2015 | By KEITH BRADSHER
    HONG KONG — The International Monetary Fund on Monday approved the Chinese renminbi as one of the world’s main central bank reserve currencies, a major acknowledgement of the country’s rising financial and economic heft. The I.M.F. decision will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. But it also introduces new uncertainty into China’s economy and financial system, as the country was forced to relax many currency controls to meet the I.M.F. requirements. The changes could inject volatility into the Chinese economy, since large flows of...
  • THE BANKRUPT IRISHMAN WHO CREATED THE DOLLAR SIGN BY ACCIDENT

    11/25/2015 2:52:09 PM PST · by NYer · 13 replies
    Atlas Obscura ^ | November 23, 2015 | DAN HESS
    The only known depiction of Oliver Pollock, in Baton Rouge, Louisiana. (Photo: Richard Cummins/Alamy)Wars cost money. So when the Revolutionary War broke out, the Colonies turned to a number of sources for backing. The top contributors to America’s Independence: The Kingdoms of France and Spain, the Dutch banking conglomerate, and a single Irish merchant based in New Orleans. His name was Oliver Pollock, and he was the “Financier of the Revolution in the West.”  Pollock saw opportunity in war– the chance for a young but wealthy immigrant to stand as a symbol of success and greatness. He desired to carve out a...
  • China to allow direct trade of yuan with Swiss franc

    11/09/2015 8:03:34 AM PST · by Red Badger · 4 replies
    economictimes.indiatimes.com ^ | 9 Nov, 2015, 05.30PM | Staff
    SHANGHAI: China's national foreign exchange market will introduce direct trading of the Swiss franc, the operator said on Monday, as the country pushes greater international use of its yuan currency. Trading of the Switzerland currency against the yuan begins on Tuesday, the China Foreign Exchange Trade System said in a statement on its website. Direct trade increases efficiency and cuts transactions costs as deals do not use a third currency like the US dollar. The country's foreign exchange market already hosts direct trading of a number of currencies, including the Singapore dollar, the euro, Britain's pound and the New Zealand...
  • China Calls For New Global Reserve Currency To Replace Dollar

    10/22/2015 7:30:31 AM PDT · by Fennie · 17 replies
    ABC ^ | October 20, 2015 | By Samuel Bryan
    In yet another sign of its growing prominence on the global financial stage, China called for a new world reserve currency to replace the dominant dollar. An ABC news report said China is showing "growing assertiveness" on revamping the world economy: The surprise proposal by Beijing's central bank governor reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments.
  • Treasury Sells 3-Month Bills At 0% Yield For First Time Ever

    10/10/2015 4:16:27 PM PDT · by Lorianne · 77 replies
    Zero Hedge ^ | 06 October 2015 | Tyler Durden
    "Investors" are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today's auction. That is a 0% yield - for the first time ever - lower even than the auction right after Lehman's bankruptcy in Nov 2008. It is probably safe to say that NIRP is next, followed by more negative yields further to the right of the curve, as the US gradually becomes Europe. But don't worry: as Yellen admitted during her healthcare-scare speech, "nominal interest rates cannot go much below zero", just a little.
  • America to Collapse As Dollar Dies: “You Cannot Stop What Is Coming…

    10/07/2015 10:20:56 AM PDT · by amorphous · 60 replies
    SHTF Plan ^ | 7 Oct 2015 | Mac Slavo
    A collapse is coming… but not as quickly as many are expecting. There are many people high up in the power structure who not only see an end to the dollar coming soon, but an economic collapse that could trigger the death of tens of millions of Americans – rendered vulnerable by the lack of services and the stopping of checks, and harmed by the resulting looting, starvation and violence that is likely to occur. According to an anonymous source who claims to have high level insider sources, everything from the power grid to the grocery store, to the government...
  • 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...
  • Vladimir Putin seeks to dump the dollar in regional trade

    09/02/2015 12:46:19 PM PDT · by Tolerance Sucks Rocks · 22 replies
    The Washington Times ^ | September 1, 2015 | David R. Sands
    Russian President Vladimir Putin has a new target in the revived cold war with Washington — the U.S. dollar. The website Russia Today* reported Tuesday that Mr. Putin has drafted a bill to block the use of both the American greenback and the euro in trade between the bloc of countries that used to be part of the Soviet Union, including Russia, Armenia, Belarus, Kazakhstan and Tajikistan. The measure “would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets,” the Kremlin said in a...
  • ISIS release pictures of their new gold coins they say will 'break capitalist enslavement'

    08/30/2015 5:50:24 AM PDT · by Libloather · 27 replies
    Daily Mail ^ | 8/30/15 | Tom Wyke
    ISIS release pictures of their new gold coins they say will 'break capitalist enslavement' - so why are they still paying their deranged gunmen in US dollars? ISIS have released a new hour long video, showing off their latest propaganda tool - their very own coin currency. The video, which includes a dreary and distorted history of world economics, shows the smelting of gold, silver and copper coins. Dramatised by clips from Hollywood war films, the film accuses the US of 'confiscating Americans real wealth through an executive decree' with the introduction of the Gold Reserve Act in 1934. Yet...
  • George Soros: We Are On The Threshold Of A Third World War

    05/27/2015 8:46:07 AM PDT · by aimhigh · 57 replies
    ETF Daily News ^ | 05/27/2015 | Paul Joseph Watson
    Billionaire investor George Soros told the World Bank this week that the planet is on the verge of a third world war that could arise out of an economic collapse in China. “If there is conflict between China and a military ally of the United States, like Japan, then it is not an exaggeration to say that we are on the threshold of a third world war,” Soros said during a Bretton Woods conference. . . . . Soros said the only solution to the prospect was to allow China to join the IMF’s basket of global currencies so that...
  • 12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

    08/16/2015 4:24:40 AM PDT · by SkyPilot · 49 replies
    Economic Collapse ^ | 11 Aug 15 | Michael Snyder
    Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not...
  • Dollar drops as China move raises doubts over Fed hike timing [Dealing with a world-wide economy]

    08/12/2015 4:15:35 AM PDT · by expat_panama · 47 replies
    Reuters ^ | Wed Aug 12, 2015 | Anirban Nag
    The dollar fell 0.6 percent against a basket of currencies on Wednesday, coming under pressure as Treasury yields dropped on doubts over whether the U.S Federal Reserve will raise interest rates in the wake of China's devaluation of the yuan. The yuan extended its losses, dragging the growth-linked Australian and New Zealand dollars to six-year lows with it, while another set of disappointing Chinese data bolstered safe-haven currencies such as the yen. The euro, meanwhile, rose, helped by the unwinding of euro-funded carry trades in the yuan EURCNH=. The single currency hit a one-month high of $1.11385 EUR=EBS, up 0.8...
  • 10 Reasons to Love the Strong Dollar [The USD is Today, the World's Strongest Major Currency]

    08/12/2015 6:01:38 AM PDT · by SeekAndFind · 6 replies
    The Street ^ | 08/12/2015 | BySimon Constable
    The surge in the greenback has some stock investors screaming foul, but they shouldn't be. Instead, they should embrace the strength. It is true that the trade-weighted value of the U.S. dollar has climbed more than 21% in the last 13 months, according to recent data from the St. Louis Federal Reserve. It's also true that the rally is taking its toll on the earnings reports of some multinational companies -- their foreign revenues take a hit when translated back into dollars. Still, there is plenty to feel great about. Here are 10 reasons to smile. 1. It makes imports...
  • China's devaluation raises currency war fear as Greece strikes deal (WORLD WIDE STOCK MARKET CRASH)

    08/11/2015 4:06:44 AM PDT · by expat_panama · 95 replies
    Reuters ^ | Aug 11, 2015 | Nigel Stephenson
    China's shock 2 percent devaluation of the yuan on Tuesday pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis. Stocks fell in Asia and Europe as investors worried about the implications of a move designed to support China's slowing economy and exports. The stronger dollar hit commodity prices, driving crude oil down after Monday's hefty gains. Weaker stocks lifted top-rated bonds, with yields on euro zone debt also falling on the Greek deal, struck nine days before Athens is due to repay...
  • Commodities Are Re-entering A 'Deflationary Vortex'

    08/10/2015 11:11:40 AM PDT · by blam · 26 replies
    BI ^ | 8-10-2015 | Akin Oyedele
    Akin Oyedele August 10, 2015The pain is far from over for commodity prices. Gold, crude oil, copper, and aluminum have all had ugly plunges this year, especially in July. And as far as analysts at Macquarie see it, it's only going to get worse.In a note to clients on Monday, the firm writes that the plunge in prices is not just a story of oversupply in commodities but also an undersupply of the dollar. And so as dollars become more scarce, the dollar gets more expensive, meaning that on a gross basis, fewer dollars buy more commodities, making it hard...
  • Why a Financial Collapse Is a Certainty

    07/14/2015 6:26:33 PM PDT · by SkyPilot · 53 replies
    Rapture Ready ^ | Matt Ward
    There is an unsolvable problem at the heart of our financial system. The outcome of this problem is inevitable. The joblessness, increasing debt and recession that we see now is only the first stage of a crisis that is certain to come soon. Everything about our way of life is about to change. Many people believe that today is as bad as it will get and that things will not get worse. The truth is that this is just the start of what is about to unfold. We will all be witnesses to the real consequences of this coming collapse...
  • For America's economy, the end is nigh [Fundamental Transformation Complete]

    07/13/2015 3:47:47 PM PDT · by Jan_Sobieski · 31 replies
    World Net Daily ^ | 7/12/2015 | Lord Monckton
    ...Mr. Obama’s mission to destroy America’s economy is complete. The damage he has done is irreversible. The dollar is history. The American economy is going down, and soon. The posh commentators say the collapse will be gradual rather than sudden. But few are now predicting there will not be collapse at all. Here are just some of the pointers. First and foremost, U.S. public debt is $18.3 trillion. By the time Mr. Obama leaves the White House late next year, he will have doubled it in a single “presidency.” On top of that, Uncle Sam has unfunded liabilities of at...
  • Dollar firms before payrolls, Greece unease simmers

    07/02/2015 3:22:23 AM PDT · by expat_panama · 10 replies
    Yahoo Finance ^ | Jul 2, 2015 | Marc Jones
    LONDON (Reuters) - The dollar was near a three-week high on Thursday and world stock markets had a delicate feel, as the implication of U.S. jobs data later for a possible Fed rate hike added to Europe's uncertainty over Greece. Chinese shares also remained in focus as they suffered another heavy tumble overnight to take their loses over the last six weeks to 25 percent, countering otherwise solid performances in the rest of Asia's main centres.Europe's main bourses in London, Frankfurt and Paris and Milan opened largely flat having rallied on Wednesday but the mood remained skittish after hopes of...
  • Alexander-the-Not-So-Great: Hamilton Out on $10 Bill

    06/22/2015 11:20:10 AM PDT · by Mozilla · 85 replies
    Breitbart ^ | June 18, 2015 | Jarrett Stepman
    The Treasury Department announced on June 17, that Hamilton would be replaced and diminished on the $10 bill in order to feature a woman to be announced at a later date. The goal is to have new bills out by 2020, the 100th anniversary of the 19th amendment that guaranteed women the right to vote. “Our democracy is a work in progress. We’ve always been committed to a more perfect union,” Treasury Secretary Jack Lew said according to CBS News. ”This decision to put a woman on the $10 reflects our aspirations for the future, as much as it is...
  • A Woman on the $10 Bill? Big Deal

    06/19/2015 9:23:27 AM PDT · by Kaslin · 100 replies
    Townhall.com ^ | June 19, 2015 | S.E Cupp
    With the announcement this week by Treasury Secretary Jack Lew that there will be a woman on the $10 bill, I found myself daydreaming about all the new equality that will presumably come with such a historic and meaningful honor. Because, surely, with all the current economic problems we're attempting to solve -- a still unstable job market, widening income inequality, rising poverty -- the United States government wouldn't waste its valuable time on some kind of empty symbolic gesture. Surely, putting a woman on a U.S. banknote will be an important step forward for gender equality and advancing women's...
  • Zimbabwe slashes 16 zeros from currency but dollar still a joke

    06/12/2015 9:00:55 AM PDT · by Citizen Zed · 45 replies
    euronews ^ | 6-12-2015
    From next Monday Zimbabweans with have their mental arithmetic simplified for them with the news some zeros are coming off the currency. Quite a lot of zeros. No less than 16, as the federal reserve attempts to end funny money by offering one new Zimbabwe dollar in exchange for 35 quadrillion old ones. However the real hyperinflation rate is in fact worse. The money being replaced was only issued in 2008, when the exchange rate was one for 10 billion. The real hyperinflation rate has 25 zeroes attached. This is now hyperinflation an elderly German would recognise, with all its...
  • Obama denies telling G7 counterparts that 'the strong dollar posed a problem'

    06/08/2015 4:28:05 PM PDT · by Libloather · 5 replies
    Daily Mail ^ | 6/08/15 | David Martosko
    President Barack Obama said on Monday that he never told his G7 meeting counterparts that the strong U.S. dollar posed a 'problem' for the United States. Having a strong currency typically weighs on the competitiveness of a country's industries and exports. Speaking to reporters after the G7 summit, Obama denied a report by an unidentified French official that he had voiced concern about the strength of the dollar during a discussion of the world economy. 'First of all,' he said, 'don't believe unnamed quotes. I did not say that. And I make a practice of not commenting on the daily...
  • Businesses Quietly Switch To Dollar In Socialist Venezuela

    05/25/2015 3:02:17 PM PDT · by Aquamarine · 18 replies
    Associated Press ^ | May, 25,2015 | Hannah Dreier
    CARACAS, Venezuela (AP) -- It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. Just not in the country's official currency. As the South American nation spirals into economic chaos, an increasing number of products are not only figuratively out of the reach of average consumers, but literally cannot be purchased in Venezuelan bolivars, which fell into a tailspin on the black market last week. Businesses and individuals are turning to dollars even as the anti-American rhetoric of the socialist administration grows more strident. It's...
  • Oil Prices Decline as Dollar Strengthens

    05/19/2015 5:56:00 AM PDT · by thackney · 19 replies
    Fox Business ^ | May 19, 2015 | Dow Jones Newswires
    Oil prices declined on Tuesday, losing value as the strength of the dollar dissuaded buyers. The dollar gained versus the euro after a senior official at the European Central Bank said the institution would " front-load" its bond-buying program, snapping up more eurozone sovereign debt in May and June to avoid having to buy large volumes during the summer lull in July and August. A stronger dollar makes oil more expensive for buyers holding other currencies. The Wall Street Journal Dollar Index, which tracks the dollar against a basket of other major currencies, rose 0.5%. Brent crude for July delivery...
  • IMF: Risks rise as dollar hits emerging markets

    04/15/2015 11:16:57 AM PDT · by Citizen Zed · 1 replies
    The Salt Lake Tribune ^ | 4-15-2015 | Andrew Mayeda Bloomberg News
    Risks to the global financial system are rising, as emerging markets face a squeeze from the strong U.S. dollar and weak commodity prices, the IMF said. While the strengthening greenback and lower oil prices are boosting the world recovery, the changing landscape is putting pressure on countries and firms that export crude and other commodities, the International Monetary Fund said in its semiannual Global Financial Stability Report released Wednesday. "Further rapid dollar appreciation and an abrupt rise in U.S. interest rates, coupled with a rise in geopolitical risks, could put added pressure on emerging-market currencies and asset markets," the IMF...
  • The Soaring dollar puts the world on sale for Americans

    04/10/2015 4:38:14 AM PDT · by SeekAndFind · 12 replies
    Los Angeles Times ^ | 04/10/2015 | Tom Petruno
    Americans have long complained that the dollar doesn't buy much anymore. Suddenly, the dollar's problem may be that it buys too much — a change that has huge implications across the global economy for consumers, businesses, investors and governments. The U.S. currency's value has surged over the last nine months, reaching levels against some world currencies last seen more than a decade ago. In Europe, it now costs just $1.09 to buy one euro, down from $1.37 a year ago and almost $1.50 four years ago. To put it another way, an American tourist strolling the streets of Paris this...
  • Fears of a new global crash as debts and dollar’s value rise

    03/29/2015 6:19:27 PM PDT · by 9thLife · 13 replies
    the guardian ^ | Saturday 28 March 2015 12.00 EDT | Heather Stewart
    Greek ministers are spending this weekend, almost five grinding years since Athens was first bailed out, wrangling over the details of the spending cuts and economic reforms they have drawn up to appease their creditors. As the recriminations fly between Europe’s capitals, campaigners are warning that the global community has failed to learn the lessons of the Greek debt crisis – or even of Argentina’s default in 2001, the consequences of which are still being contested furiously in courts on both sides of the Atlantic. As Janet Yellen’s Federal Reserve prepares to raise interest rates, boosting the value of the...
  • How Pastor Creflo Dollar Manipulates A Lower-Class Community Into Giving Him Millions

    03/19/2015 8:14:44 AM PDT · by C19fan · 14 replies
    Patheos ^ | March 15, 2015 | Peter Mosley
    The headlines were surprising. Creflo Dollar (yes, that’s his real name), a pastor at World Changers Church International headquartered in Atlanta, Georgia, actually had the nerve to ask his congregation and watchers, nationwide, of his program on the Internet, to replace his broken-down private jet with a state of the art model. And the plane Dollar requested, the Gulfstream G650, is not just your run-of-the-mill private jet. It’s, according to a quote on the Gulfstream website, “The biggest, fastest, most luxurious, longest range and most technologically advanced jet — by far — that Gulfstream has ever built.” Indeed, its writeup...
  • Demise of The Petrodollar

    03/16/2015 2:44:13 AM PDT · by lbryce · 4 replies
    MoneyTellStories ^ | March 16, 2015 | Staff
    We've all heard this before. If the petrodollar is not the currency in which the world trades in oil. the US will collapse economically. There's nothing new except for the fact that according to the video the US overthrew Qaddafi and Saddam because they threatened to stop trading oil in dollars. Not that it is the definitive cause for the invasion of Iraq or even the truth of why we invaded,it does give me some rationale however fictitious it may be for why we did in fact overthrow Saddam.
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • The Surging Dollar Is A Signal That A Colossal Financial Event Is Just Around The Corner

    03/13/2015 9:26:10 AM PDT · by blam · 28 replies
    BI ^ | 3-13-2015 | Mike Bird
    Mike Bird March 13, 2015 The dollar is set for its strongest quarterly strengthening since 1992, according to Bank of America, a good sign that a rate hike is around the corner. When markets expect that US interest rates will be hiked, it typically strengthens the dollar. That's because people rush to change other currencies into dollars — they can make more money in dollar-denominated investments. The higher demand for the US currency drives its value up. In the past, significant dollar gains against other currencies have pretty much happened only during periods of extreme financial or geopolitical distress. The...
  • Euro could fall to 85 cents against US dollar

    03/12/2015 7:53:08 PM PDT · by Lorianne · 34 replies
    CNBC ^ | 11 March 2015 | Michelle Fox
    As analysts were waiting to see how fast the euro reaches parity against the U.S. dollar, one foreign exchange pro told CNBC he saw the common currency dropping even further, with the dollar strengthening another 20 percent. George Saravelos, global co-head of FX research at Deutsche Bank, said the euro could fall to 85 U.S. cents against the greenback.
  • Euro slips to new 12-year low against US dollar ($1.05)

    03/11/2015 9:09:49 PM PDT · by tcrlaf · 15 replies
    Straits Times ^ | 3-12-2015 | Reuters
    The euro slipped to a fresh 12-year low against the US dollar on Thursday as the common currency continued to buckle under pressure felt since the European Central Bank launched its massive quantitative easing scheme at the start of the week.
  • 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...