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Keyword: dollar

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  • Congressman Seeks to End Program He Calls ‘More Dangerous’ Than IRS Scandal

    11/20/2014 9:08:15 AM PST · by PapaNew · 9 replies
    The Daily Signal/The Heritage Foundation ^ | November 19, 2014 | Kelsey Harkness
    Calling a secretive government operation to strangle politically out-of-favor businesses “more dangerous” than the IRS targeting scandal, a congressman with a background in banking is preparing to introduce legislation to kill the Obama administration initiative. “I believe this activity is probably more dangerous and more disastrous than that of the IRS scandal because this is running people out of business for no reason and it’s harming livelihoods, incomes [and] families,” Rep. Blaine Luetkemeyer, R-Mo., said today in an interview with The Daily Signal. Luetkemeyer, a member of the House Financial Services Committee, was comparing the Department of Justice’s Operation Choke...
  • U.S. dollar will "get a lot stronger than anyone can imagine"

    11/14/2014 7:14:51 AM PST · by Minsc · 64 replies
    Yahoo Finance ^ | 11/14/2014 | Joanna Campione
    The U.S. dollar is on a roll. The dollar index, which measures its value versus a basket of other world currencies, is at a four-year high. John Mauldin, best-selling author and chairman of Mauldin Economics says, get used to it. Mauldin believes the dollar is going to keep rising and “get a lot stronger than anyone can imagine.” He says, “We are going to be trading stronger against nearly every currency.“ In other parts of the world, currencies are slipping as the U.S. dollar strengthens. Central banks in Europe and Japan are shifting policies to fight slowing growth and fend...
  • Canada, China sign currency deal aimed at boosting trade[Canada dumps dollar]

    11/09/2014 12:37:40 AM PST · by Enlightened1 · 15 replies
    CBC News ^ | 11/08/14
    Allows direct business between Canadian dollar and Chinese yuan, cutting exchange costs. Canada and China have signed a reciprocal currency deal that's expected to dramatically boost exports. The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi.
  • Ruble Rout Accelerates as Russia's Central Bank Stands Aside(free fall?)

    11/06/2014 6:46:56 PM PST · by TigerLikesRooster · 22 replies
    Reuters ^ | Nov. 06 2014
    Ruble Rout Accelerates as Russia's Central Bank Stands Aside Reuters Nov. 06 2014 18:15 Last edited 21:33 The Russian currency plunged almost 4 percent against the U.S. dollar Thursday amid relentless selling pressure after the Central Bank announced it was limiting market interventions to defend the ruble. The ruble dropped to 46.7 versus the dollar early evening in Moscow, a historical low, while also falling below the mark of 58 to the euro for the first time ever. The declines mean the ruble has fallen over 40 percent against the greenback since the start of the year.
  • Gold Is Getting Destroyed ($1140 Oz)

    11/05/2014 6:17:31 AM PST · by blam · 67 replies
    BI ^ | 11-5-2014 | Elena Holodny
    Elena Holodny November 5, 2014 Gold is getting crushed. Again. The yellow metal is at $1,140 per ounce, down by about 2.3%. It got as low as $1,137. This is the lowest level since April 2010. Gold has been dropping to new lows for several weeks as the dollar has strengthened. Oil is another commodity that is tumbling again. WTI crude oil prices dropped as low as $75.84 per barrel shortly after 5 a.m. ET. Brent crude touched $81.63. While this is great for consumers, this is troubling for the oil producers, who may be forced to idle unprofitable projects....
  • Republican gains push dollar to seven-year high versus yen

    11/05/2014 6:40:53 AM PST · by BenLurkin
    reuters.com ^ | Wed Nov 5, 2014 8:36am EST | Marc Jones
    Republicans rode a wave of voter discontent to secure control of the U.S. Senate and strengthen their grip on the House of Representatives in a punishing blow to President Barack Obama that will limit his power in his last two years in office. Financial markets saw the election results as a cause for optimism. Similar situations in the past have often sparked U.S. stock market rallies.
  • If The Dollar Breaks This Trend, It Could 'Create Havoc On The Unprecedented $5-Trillion Carry Trade

    11/01/2014 9:28:33 AM PDT · by blam · 28 replies
    BI ^ | 11-1-2014 | Julia La Roche
    Julia La Roche October 31, 2014The Federal Reserve ended quantitative easing this week. And soon it'll start tightening monetary policy with interest rate hikes. This is coming as central banks in the rest of the world maintain loose monetary policy or even go as far as to loosen monetary policy further. All of this is bullish for the US dollar relative to other major currencies. Business Insider recently asked the smartest people in finance for what they considered to be the "most important charts in the world." Without hesitation, former global macro fund manager Raoul Pal sent us a long-term...
  • Where is this economic collapse so many are saying will happen?

    10/19/2014 10:20:36 PM PDT · by eekitsagreek · 78 replies
    If you go to different websites or listen to certain radio hosts, there is a lot of discussion of "economic collapse", "dollar collapse" or "petrodollar collapse" and so forth. They make it sound like we will end up like the Weimar Republic with people carrying their worthless money in wheelbarrows. I am not an economics expert (nor do I play one online), but are we really heading for collapse or is it all a bunch of talk? I know we have a huge debt problem, but we keep printing money. How long can this keep going? I am confused! Any...
  • Grandma Yellen And The Economic Mushroom Cloud On The Horizon

    10/05/2014 6:48:12 PM PDT · by blam · 7 replies
    The Market Oracle ^ | 10-5-2014 | Tony_Caldaro
    October 05, 2014 Tony_Caldaro Beautiful Indian summer imitation where I’m presently located in western Europe. Good time to start out with an empty sheet of text file (for lack of a better term), and stream some consciousness. Most people must have figured out that things in the economic sphere haven’t gotten any quieter lately. That’s at least something. Stock exchanges in the developed world jumped from a -1%+ loss one day to a 1%+ gain the next. Volatility, nerves, and probably ritalin, have returned. You have to wonder what that means in markets reigned supreme by high-frequency robot traders and...
  • The Return of King Dollar: Are the markets anticipating a GOP November sweep?

    09/20/2014 6:15:31 PM PDT · by SeekAndFind · 24 replies
    National Review ^ | 09/20/2014 | Larry Kudlow and Stephen Moore
    Maybe the U.S. economy, a weakling for the last six years, is finally starting to flex some muscle. We’re referring to the return of King Dollar. For those who haven’t been paying attention, the greenback is in the midst of a rally not seen since the 1990s. It’s racing past the euro, the yen, and other currencies. Investors worldwide are buying the equivalent of stock in America, Inc. If the rise in the dollar’s valuation is sustainable, it’s welcome news for the stock market, for fighting inflation, and for U.S. growth prospects. Ronald Reagan said it best: A strong dollar...
  • ROSENBERG: 'The Economy Is Starting To Fire On All Cylinders For The First Time This Cycle'

    09/19/2014 2:41:33 PM PDT · by blam · 80 replies
    Bi ^ | 9-19-2014 | Elena Holodny
    Elena HolodnySeptember 19, 2014 David Rosenberg, Chief Economist & Strategist at Gluskin Sheff, surprised everyone when he adopted a more bullish view in 2013. On Friday he released a research note that included a brief and pretty optimistic summary of the US economy. Here's what it said: United States In the US, the economy is starting to fire on all cylinders for the first time this cycle. The strong US dollar is a source of margin support for importers which is great news for many consumer cyclicals. Tack on stepped consumer credit growth, job and wage gains, gasoline price relief,...
  • What Petrodollar: Russia, China To Create SWIFT Alternative

    09/12/2014 1:54:36 PM PDT · by Lorianne · 15 replies
    Zero Hedge ^ | 10 September 2014 | Tyler Durden
    If, when in February Victoria Nuland infamously launched a (not so) covert campaign to replace the ruling Ukraine president oblivious to the human casualties, resulting in a civil war in east Ukraine, NATO encroachment along the borders of Russia, and a near-terminal escalation in hostilities between Ukraine, Russian, and various regional NATO members, the US intention was to provoke the Kremlin so hard that the nation with the world's largest reserves of mineral and energy resources would jettison the US Dollar and in the process begin the unraveling of the USD reserve currency status (as much as Jared Bernstein desires...
  • Obama's Former Chief Economist Calls For An End To US Dollar Reserve Status

    09/08/2014 6:37:03 PM PDT · by Nachum · 19 replies
    zero hedge ^ | 9/8/14 | Authored by Jared Bernstein, originally posted Op-Ed at The NY Times,
    There are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve? But new research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s...
  • Crackdown on US dollar money laundering boosts Chinese renminbi bid to replace dollar

    09/03/2014 4:59:59 AM PDT · by rjbemsha · 15 replies
    Banking Technology ^ | 3 September 2014 | Banking Tech
    Money launderers will increasingly move away from the US dollar to the renminbi as US authorities continue to crack down on international banks’ AML systems [says] Freddie McMahon, director of strategy & innovation at Anomaly42, a specialist in AML and terrorist financing. “The dollar is becoming increasingly high risk and it’s a level of risk money launderers are proving less willing to take...the renminbi is off the beaten track and affords a new level of camouflage for criminal transactions." “The irony is that proactively countering the money launderers represents an unprecedented opportunity for the Chinese authorities to make the renminbi...
  • Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    08/29/2014 12:43:49 AM PDT · by wetphoenix · 9 replies
    Exeminer ^ | August 27, 2014 | Kenneth Schortgen Jr
    Aug. 27 will officially go down as a red letter day in the history of reserve currencies and dollar hegemony in how oil and gas are purchased throughout the world. In a new announcement from the Russian business media source, Kommersant, Gazprom has conducted the first sale of oil in a currency other than the dollar, and will henceforth open their purchase window to accept both Roubles and Yuan for the exchange of oil and gas products. Beginning today with an 80000 ton oil shipment from their Arctic fields, Gazprom Neft agreed to new terms on the sale and transfer...
  • The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

    08/27/2014 12:25:39 PM PDT · by Rusty0604 · 15 replies
    Zerohedge ^ | 08/27/2014 | Tyler Durden
    Several months ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative. This changed in late June when first Gazprom's CFO announced the gas giant was ready to settle China contracts in Yuan or Rubles, and...
  • Global Panic - U.S. Federal Government Stockpiling Ammo – Here’s What We’re Going to Do

    08/24/2014 10:43:52 AM PDT · by blam · 18 replies
    Market Oracle - Money Morning ^ | 8-24-2014 | Shah Gilani
    August 24, 2014 By: Money_Morning Shah Gilani writes: This is a warning. I’m not kidding.I heard something yesterday that blew me away. My friends know I like to target shoot. I don’t hunt, because I can’t kill anything living, but I like guns. Maybe it has something to do with wanting to be James Bond when I was a kid… OK, I still want to be 007. As other target shooters know, it’s gotten harder and harder to get ammunition. Fo a few years now, all kinds of stuff have been going around on the Internet about why ammunition is...
  • We’re going to kill the dollar. White House, DoJ & Treasury don't deny Obama staffer statement

    08/19/2014 5:29:27 AM PDT · by Opinionatedtoday · 38 replies
    When a senior Obama member allegedly told Kyle Bass, the founder and principal of the $2 billion hedge fund, Hayman Capital Management, “We’re just going to kill the dollar,” during a discussion about fixing the trade deficit and economy, was that Obama official joking or serious? I set out to find out and contacted the White House, Treasury Department and Department of Justice (DoJ). Kill the dollar. Kill a nation. Live in denial and be blindsided if what the senior Obama member allegedly said to Bass was true. Ask the Russians what life was like in the former Soviet Union...
  • De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

    08/09/2014 5:24:13 PM PDT · by SkyPilot · 28 replies
    Zero Hedge ^ | 9 Aug 14 | Tyler Durden
    The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US...
  • Petrodollar Under Threat As Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal

    08/08/2014 3:53:46 AM PDT · by wetphoenix · 20 replies
    Peak Oil ^ | August 7, 2014
    Russia Delivers Blow To Petrodollar In Historic $20 Billion Iran Oil Deal Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yesterday. President Putin Admire Gold Bar (London Gold Delivery Bar) Currency wars are set to escalate as the petro dollar’s decline continues. Russian Energy Minister Alexander Novak and his Iranian counterpart Bijan Zanganeh signed a five-year memorandum of understanding in Moscow, which included cooperation in the oil sector. “Based on Iran’s proposal, we will participate in arranging shipments of crude oil, including to the Russian market,”...
  • Switzerland, China agree swap boosting role of yuan

    07/24/2014 5:30:45 AM PDT · by wetphoenix · 1 replies
    AFP via Yahoo! ^ | July 21, 2014 6:51 AM
    Geneva (AFP) - The Swiss and Chinese central banks signed a currency swap agreement in Beijing on Monday, marking an important step in the development of a market for yuan in Switzerland, the Swiss central bank BNS said. The agreement, highlighting steps towards international use of the yuan, ensures that Swiss francs will be available in China and that yuan, also known as renminbi, will be supplied to financial centres in Switzerland. The BNS statement said that the agreement was "an important step" for the renminbi business in Switzerland. The agreement permits the two central banks to buy up to...
  • U.S. ally cuts off communications with Obama and seeks new trade outside dollar

    07/23/2014 8:12:42 AM PDT · by JohnKinAK · 33 replies
    Examiner.com ^ | 7/22/2014 | Staff
    On July 21, Turkish Prime Minister Tayyip Erdogan spoke in an interview with Turkey's ATV television, and confirmed that his office had cut off direct communications with President Obama, and in fact, were no longer even answering calls received from the White House. In addition to this startling announcement regarding a long standing U.S. ally, the Russian Ministry of Economic Development followed this up with a press release that stated that Turkey was quickly moving away from their reliance on the dollar as the global reserve currency, and is seeking increased trade with Russia in a mutually beneficial exchange of...
  • The dollar's 70-year dominance is coming to an end

    07/19/2014 1:33:03 PM PDT · by markomalley · 36 replies
    The Telegraph ^ | 7/19/2014 | Liam Halligan
    In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War. The US was already the world’s commercial powerhouse, having eclipsed the British Empire several decades earlier. America was also on course to be among the victors of “Europe’s conflict”, even though its economy was largely unscathed by war. As such, Bretton Woods was US-dominated and produced a settlement largely on US terms. Seventy years ago this...
  • Experts: America's gold is gone

    07/18/2014 6:35:46 PM PDT · by SkyPilot · 91 replies
    WND and King World News ^ | 18 Jul 14 | Mark Leibovit
    Paul Craig Roberts: The entire U.S. gold hoard is now goneFormer U.S. Treasury official Dr. Paul Craig Roberts told King World News the entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone. This is very bad news for Germany and other countries which have trusted the Fed to safely store their gold. Excerpts from the interview: Eric King: Dr. Roberts, I know you’ve seen the report on Bloomberg about Germany supposedly being happy with storing their gold at the New York Fed. It seemed to be a propaganda piece. What was...
  • 2008 Meltdown Revisited-There’s No Solution-Egon von Greyerz

    07/16/2014 12:02:12 PM PDT · by GilGil · 19 replies
    Usawatchdog.com ^ | 07/16/2014 | Greg Hunter
    We are now in a situation where every major economy in the world is in a total mess.” Greyerz goes on to explain, “Japan’s economy is going to disappear into the Pacific. China is having its problems. Europe has problems. The EU will never work and was not supposed to work. The euro is an artificial currency and, in the long run, will not survive. The U.S. stock market is at an all-time high, but that has nothing to do with the real economy which is an absolute mess. So, the world has never been in a situation where all...
  • U.S. Economy-Plunge, Stagnation & Turning Down Anew-John Williams

    07/14/2014 10:21:03 AM PDT · by GilGil · 19 replies
    USAWatchdog.com ^ | 7/1/2014 | John Williams
    Back in 2013, Williams predicted that it would be “game over” in 2014. What are the statistics showing him now? Williams says, “They are showing the economy continues to weaken, and it never recovered. A second quarter contraction here would most assuredly be recognized as a new recession, and I contend we never got out of the old recession. We had plunge, stagnation and, now, we are turning down anew.”
  • France hits out at dollar dominance in international transactions

    07/12/2014 7:11:53 PM PDT · by wetphoenix · 13 replies
    CNBC ^ | Sunday, 6 Jul 2014 | 7:28 PM ET | Michael Stothard
    France's political and business establishment has hit out against the hegemony of the dollar in international transactions after U.S. authorities fined BNP Paribas $9 billion for helping countries avoid sanctions. Michel Sapin, the French finance minister, called for a "rebalancing" of the currencies used for global payments, saying the BNP Paribas case should "make us realize the necessity of using a variety of currencies". He said, in an interview with the Financial Times on the sidelines of a weekend economics conference: "We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don't...
  • Mike Maloney: The Dollar As We Know It Will Be Gone Within 6 Years

    07/06/2014 8:14:24 PM PDT · by blam · 58 replies
    Zero Hedge ^ | 7-6-2014 | Mike Mahoney - Tyler Durden
    Tyler Durden 07/06/2014 Submitted by Adam Taggart via Peak Prosperity, This week's podcast sees the return of Mike Maloney, monetary historian and founder of precious metals broker GoldSilver.com. Based on historical patterns and the alarming state of our current monetary system, Mike believes the fiat US dollar is in its last years as a viable currency. He sees its replacement as inevitable in the near term -- as in by or before the end of the decade: All of this is converging with the crazy experiments the Federal Reserve has done. I absolutely believe that there are economic consequences to...
  • What To Own As The U.S. Dollar Dies

    07/05/2014 11:52:55 AM PDT · by blam · 99 replies
    The Market Oracle ^ | 7-5-2014 | Dr. Steve Sjuggerud - Daily Wealth
    July 04, 2014DailyWealth Dr. Steve Sjuggerud writes: So... if the dollar "dies"... what do you do with your money? In yesterday's DailyWealth, we looked at "The Coming Death of the Dollar." But we didn't cover what you should do with your money to protect yourself. In Jim Rickards' book, The Death of Money, he has five recommendations. More specifically, he has an asset allocation of five different investments that have stood the test of time in previous inflations and deflations. Jim says this portfolio should offer "an optimal combination of wealth preservation under conditions of inflation, deflation, and social unrest......
  • Beijing, Seoul agree to direct trade in national currencies

    07/05/2014 3:44:33 AM PDT · by SkyPilot · 20 replies
    Voice of Russia ^ | 4 July 14 | Staff
    China designated a clearing bank in Seoul for yuan transactions in South Korea on Friday, coinciding with a visit by President Xi Jinping, as Beijing promotes greater use of its currency overseas, AFP reports. Read more: http://voiceofrussia.com/news/2014_07_04/Beijing-Seoul-agree-to-direct-trade-in-national-currencies-4477/ China's central bank has authorised the Bank of Communications, the country's fifth largest lender, to undertake yuan clearing business in the South Korean capital, the People's Bank of China (PBoC) said in a statement. The announcement came as Chinese President Xi Jinping wrapped up a state visit to South Korea on Friday. China is seeking to make the yuan - also known...
  • 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...
  • Dollar on the Brink of Disaster-John Williams

    05/19/2014 10:30:45 AM PDT · by GilGil · 25 replies
    USA WATCHDOG.COM ^ | 5/18/2014 | Greg Hunter
    So, with another “plunge” in the economy coming, how’s the dollar going to hold up? Williams explains, “You are not seeing an annual deficit of $400 or $500 billion dollars. You are really seeing something close to $6 trillion. That is beyond control, and it raises the question of long term solvency of the U.S. It is a big concern for the global markets. It’s really the reason why nobody outside the United States wants to hold the dollar. Now, look at the U.S. economy, it is turning down. Economic strength is a big factor in the value of a...
  • The End Of America

    05/16/2014 10:39:51 AM PDT · by RichardMoore · 24 replies
    The end of America and the fall of the US dollar.
  • Benghazi: Op Zero Footprint – US & Allies Freak Over Gaddafi Demand for Gold for Oil – End Is Near

    05/05/2014 2:52:58 PM PDT · by combat_boots · 11 replies
    Maggie's Notebook ^ | 5/3/2014 | Maggie
    In March 2011, Reuters announced a secret order signed by Barack Obama to provide covert support for Libyan rebel forces. The operation became known as Zero Footprint, but after Obama finished with it, Big Foot was identified. For about 18 months before the attacks on our Benghazi Special Mission, intelligence had successfully identified terrorist factions inside the rebel factions. Those terrorists included the Muslim Brotherhood as well as al-Qaeda. Nevertheless, Senator John McCain said the rebels were his heroes. Qadhafi made a fatal mistake, literally, by working toward one currency for Africa, which threatened the West. The idea of a...
  • This Chart Shows Us How Bad The Economy Really Is: “Flashing Red Warning”

    04/14/2014 8:08:29 PM PDT · by Tolerance Sucks Rocks · 19 replies
    Freedom Outpost ^ | April 14, 2014 | Mac Slavo
    Recent weeks have led to a fairly significant drop in stock valuations, with many expert analysts struggling to figure out exactly why it’s happening. You’ll hear them cite the weather, or market overreaction, or any number of reasons for why stocks have seen their share prices reduced and why they’ll be rebounding in the near-term. What they won’t show you on mainstream financial channels is what’s really happening behind the scenes. Forget about all the minute-by-minute noise for a moment and take a look at the following chart. It gives a very simple overview of earnings growth trends for stocks...
  • Russian oil firm says Asian buyers willing to use euros

    04/11/2014 12:39:28 AM PDT · by wetphoenix · 3 replies
    Reuters via Yahoo! ^ | Vladimir Soldatkin and Florence Tan
    MOSCOW/SINGAPORE (Reuters) - Russian state-controlled oil producer Gazprom Neft said it had received positive responses from Asian clients about the possibility of using euros as a settlement currency instead of the dollar. Company head Alexander Dyukov said this week Gazprom Neft had broached the idea of dropping the dollar, traditionally the currency of choice for the global energy sector, in response to a possible new round of Western sanctions over Russia's annexation of Crimea. He said the company had discussed with buyers the possibility of switching contracts to euros and that 95 percent had said they were ready to do...
  • FAMILY DOLLAR TO SHUTTER 370 STORES; PRICES TOO HIGH IN BAD ECONOMY

    04/10/2014 3:33:11 PM PDT · by kingattax · 37 replies
    Breitbart Big Government ^ | 4-10-14 | WYNTON HALL
    Deep discount retailer Family Dollar announced on Thursday it will begin laying off workers and closing 370 stores nationwide after suffering a 35% drop in profits last quarter. Analysts cite competition from Dollar General and Dollar Tree as contributing to Family Dollar's cost-cutting move. In response, Family Dollar says it plans to lower prices on 1,000 items to remain competitive with its price sensitive lower-income customers.
  • Jim Willie: US Dollar Funeral At Hand!

    04/10/2014 5:58:29 PM PDT · by Errant · 36 replies
    Silver Doctors ^ | 10 April 2014 | Jim Willie
    A global clash of nations is underway in full gear. The time is finally right. The urgency is acute. The banking system insolvency is widespread. The illiquidity has reached the surface. The geopolitical chessboard has busy movements of many pieces, even with a delayed check in Ukraine after a devious capture of the Cyprus castle but not the Syrian knight. The Saudi support via OPEC for the Petro-Dollar has fallen out of view, dragging its pummeled chin on the desert sands. The Eastern superpowers are marching arm in arm, ready to challenge the West. It seems the Western leaders, in...
  • "No more greenbacks

    04/02/2014 12:17:32 PM PDT · by OldNavyVet · 34 replies
    Fox News hannel | 3 April 2014 | Shepherd Smith
    Shepherd Smith on Fox News Channel ... NOW
  • The Euro Is Not Overvalued (Nor Is Any Other Currency)

    03/22/2014 4:24:25 PM PDT · by BfloGuy · 5 replies
    The Mises Institute ^ | 3/22/2014 | Frank Hollenbeck
    A common argument for dumping the Euro is that it is overvalued, and that the ECB (European Central Bank) is unwilling to correct this so-called “problem.” This overvaluation is regularly cited as being over 10 percent against the dollar. The Swiss central bank surrendered control of its money supply by fixing its currency at 1.2 against the Euro essentially on the notion that its currency was “overvalued.” Advocates of a Euro breakup consider that a country with its own currency can then follow an independent monetary policy ensuring a competitive exchange rate. Never mind that neither the USA nor Great...
  • Foreigners Sell A Record Amount, Over $100 Billion, Of Treasurys Held By The Fed In Past Week

    03/14/2014 7:20:53 AM PDT · by Errant · 26 replies
    Zero Hedge ^ | 14 March 2014 | Tyler Durden
    A month ago we reported that according to much delayed TIC data, China had just dumped the second-largest amount of US Treasurys in history. The problem, of course, with this data is that it is stale and very backward looking. For a much better, and up to date, indicator of what foreigners are doing with US Treasurys in near real time, the bond watchers keep track of a less known data series, called "Treasury Securities Held in Custody for Foreign Official and International Accounts" which as the name implies shows what foreigners are doing with their Treasury securities held...
  • Bitcoin Is Not Real Money

    03/01/2014 7:33:41 AM PST · by Kaslin · 123 replies
    Townhall.com ^ | March 1, 2014 | Larry Kudlow
    Just before the bankruptcy of the Mt. Gox bitcoin digital-money (or virtual-currency) exchange, Japanese finance minister Taro Aso predicted the inevitable failure. “No one recognizes them as a real currency,” he told reporters. “I expected such a thing to collapse.” I totally agree with Mr. Aso. For weeks and weeks I have been tweeting and broadcasting that bitcoin is not real money. It is not a reliable medium of exchange, nor is it a reliable store of value. It has no central-bank regulation, network operations, or even centralized issuance. And because of its wild price fluctuations, bitcoin can never...
  • Downsize the Military, Downsize the Dollar? - vanity

    02/25/2014 12:01:35 PM PST · by Loud Mime · 11 replies
    2/25/2013 | Loud Mime
    The value of our dollar is tied to our own economy. Is our economy also tied to the power of our military? As our military shrinks to a smaller size, will this have a direct effect upon the value of our dollar? If so, where will it lead?
  • China Starts To Make A Power Move Against The US Dollar

    02/21/2014 8:11:40 PM PST · by Tolerance Sucks Rocks · 38 replies
    Freedom Outpost ^ | February 21, 2014 | Michael Snyder
    In order for our current level of debt-fueled prosperity to continue, the rest of the world must continue to use our dollars to trade with one another and must continue to buy our debt at ridiculously low interest rates. Of course the number one foreign nation that we depend on to participate in our system is China. China accounts for more global trade than anyone else on the planet (including the United States), and most of that trade is conducted in U.S. dollars. This keeps demand for our dollars very high, and it ensures that we can import massive quantities...
  • World asleep as China tightens deflationary vice

    02/13/2014 10:42:42 AM PST · by mgist · 29 replies
    Telegraph ^ | 2/13/14 | Ambrose Evans-Pritchard
    <p>World asleep as China tightens deflationary vice We keep our fingers crossed as we glimpse the first foam of a deflationary Ch'ient'ang'kian coming our way from China. The world's central banks have no margin for error Societe Generale has defined its hard landing as a fall in Chinese growth to a trough of 2pc, with two quarters of contraction. .snip. The balance of evidence is that most powerful Chinese leader since Mao Zedong aims to prick China's $24 trillion credit bubble early in his 10-year term, rather than putting off the day of reckoning for yet another cycle.</p>
  • Is China using gold to internationalize the yuan?

    02/13/2014 7:05:29 AM PST · by Rusty0604 · 6 replies
    CNBC ^ | 02/12/2014 | Dhara Ranasinghe
    Concerns about high debt and an overvalued currency are sucking gold imports into China, according to a new report from Lombard Street Research. It adds that the authorities may possibly be moving in the direction of using gold in a plan to make the yuan an international currency. China's official reserves of gold stand at 1,054 metric tons, that's worth about $45 billion. This figure has not been updated since 2009 and Lombard says the number may not be accurate because since that last update imports of gold and domestic production amount to over 4,500 metric tons.
  • 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:...
  • There's a new US $100 bill in circulation.

    01/29/2014 12:39:10 PM PST · by OldNavyVet · 31 replies
    Internet search ^ | 29 January 2014 | OldNavyVet
    I ran into this new $100 bill in Las Vegas.
  • Miami Bitcoin Conference Day 1: Crime, Krugman, and BitLicenses

    01/26/2014 7:39:52 AM PST · by Errant · 4 replies
    Coin Desk ^ | 26 January 2014 | Daniel Cawrey
    The temperate winter climate of Miami, Florida is serving as a pleasing backdrop for the numerous attendees of the North American Bitcoin Conference. The symposium, being held at the Miami Beach Convention Center this weekend, brought a huge crowd. Many of the talks were held with all seats full. In the afternoon, the second hall, used in the morning for merchant vendor workshops, was used as an additional seating area with the speakers being broadcasted on a large video screen.
  • Venezuela cuts dollar allowance for Florida trips

    01/25/2014 6:03:31 AM PST · by Errant · 14 replies
    Yahoo Finance ^ | 25 January 2014 | Joshua Goodman
    CARACAS, Venezuela (AP) -- President Nicolas Maduro's government is slashing the amount of U.S. dollars Venezuelans traveling to Florida and other popular destinations take with them under decade-old currency controls. Travelers just to Florida will be allowed to charge a maximum of $700 annually on their Venezuelan credit cards and will be allowed to buy no more than $300 in cash. That compares with limits of $2,500 in credit and $500 in cash they were previously allowed for trips to Florida, an amount that will be maintained for the remaining 49 US states. The restrictions published Friday in the Official...