China has 'canceled US credit card': lawmaker
China, wary of the troubled US economy, has already “canceled America’s credit card” by cutting down purchases of debt, a US congressman said Thursday. China has the world’s largest foreign reserves,...
View ArticleThe Almighty Renminbi? – Nouriel Roubini
The 19th century was dominated by the British Empire, the 20th century by the United States. We may now be entering the Asian century, dominated by a rising China and its currency. While the dollar’s...
View ArticleRussia Dumps US Dollar as basic reserve currency
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded...
View ArticleMSM: Dollar hits new multimonth low vs euro, pound, yen
(AP) – The dollar kept falling Friday, notching fresh multimonth lows against the euro, pound and yen as a warning that Britain’s debt level may result in its credit rating being cut ricocheted into...
View ArticleHow long can the Dollar Last as the World’s Reserve Currency?
The big question is how long can the dollar last as the world’s reserve currency? Needless to say, that is not an easy question to answer. We recently called the top on the dollar at 89.50 on the USDX....
View ArticleRussia’s Central Bank says it will sell US treasuries and eyes IMF bonds
Russia’s Central Bank says it plans to cut reserves it holds in U.S. Treasuries and invest in International Monetary Fund bonds instead, a senior official said Wednesday. Roughly 30 percent of Russia’s...
View ArticleU.S. Beats War Drum as Iran Dumps the Dollar
The seemingly ever escalating rhetoric against Iran by U.S. officials took another step forward today. A senior military official leaked to the press plans to publicly reveal the evidence of weapons...
View ArticleJim Rogers Sells Dollars, Plans to Short Treasuries
(Bloomberg) – The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of...
View ArticleTowards a Global Currency? – Michel Chossudovsky
With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF’s Special Drawing Rights (SDRs). The...
View ArticleMSM: UN calls for new reserve currency
(Breitbart) – The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the “privilege” of building a huge trade deficit....
View ArticleChina Has Already Walked Away from Derivatives Contracts
You’ve probably heard that China has threatened to walk away from certain commodity derivatives contracts. As Reuters reported in August: A report that Chinese state-owned companies will be allowed to...
View ArticleVideo: Peter Schiff Says Gold to Hit $5,000 an Ounce
(Fox) – October 8, 2009 – Euro Pacific Capital’s Peter Schiff weighs in on the future of gold prices. [youtube=http://www.youtube.com/watch?v=dFDGNmP4y5w&feature=player_embedded] The post Video:...
View ArticleMSM: Dollar Reaches Breaking Point as Banks Shift Reserves
(Bloomberg) – Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two...
View ArticleMSM: Dollar loses reserve status to yen & euro
(NYPost) – Ben Bernanke’s dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency...
View ArticleUS Dollar Crashes Through Major Support Level
It is looking more and more like the current Administration has set on a course of deliberate destruction of the US Dollar and with it, the economic might that the US has enjoyed since post World War...
View ArticleRussia ready to abandon dollar in oil, gas trade with China
(RIANovosti) – Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday....
View ArticleIran to completely drop dollar from foreign exchange
(PressTV) – Iran’s Trade Promotion Organization has announced a near future plan to completely exclude the US dollar from the country’s foreign revenues and reserves. Press TV October 17, 2009 Editor’s...
View ArticleA Quadrillion Yen And Counting – The Japanese Debt Bomb Could Set Off Global...
(EconomicCollapse) – How much is 1,000,000,000,000,000 yen worth? Well, a quadrillion yen is worth approximately 10.5 trillion dollars. It is an amount of money that is larger than the “the economies...
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