There has been much talk about ending the Fed. There's been much talk about just being able to audit the Fed. Should we pin all of our hopes on a political solution? Or, should we take things to a little more personal level?
Willem Buiter warns of massive dollar collapse
Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned.
NIB to stop handling cash
22/12/2009 - 0827am
One of the country's larger banks has told to its customers that it is to stop handling cash in its branches.
National Irish Bank says it is moving to a Scandinavian model of "cashless banking"
I remember the first time I read a specific quote credited to, Henry Ford, the automobile magnate. It wasn’t so much that the quote itself struck me as worthy of using it in my own repertoire, as it was that the subject seemed very misplaced from a
"The Gulf monetary union pact has come into effect," said Kuwait's finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait. The move will give the hyper-rich club of oil exporters a petro-currency of thei
International drug cartels have abandoned the US dollar for high denomination euros to launder millions in illegal profits. Europol has revealed. The gangs no longer use $100 because 500 euro notes - the largest denomination of euro
Russia's central bank will keep cutting interest rates as policy makers try to prevent speculative capital from flowing in and destablizing the currency, Bank Rossii First Deputy Chairman Alexei Ulyukayev said. Russia need to keep cutting rates to s
Whatever else may be going on, there’s a real bull market in gold. It’s a bull market that began ten years ago. If you’d bought stocks then, you’d have about what you have now…less inflation. If you’d bought gold…you have about 4 times what you had t
The U.S. dollar has changed from being a paper certificate for a tangible asset to a fiat currency - a paper note declared legal tender. By looking at the history of American paper money one can clearly see the distinction.
The following image sho
The lead contract surged as high as 82.18, up from 75.38 close on Thursday. Such a move was improbable given that in spot market, the dollar's moves against major currencies such as the euro was limited to about 1%.
The decline of the dollar and decisions in the US not to raise interest rates have "huge" speculation(Carry Trade) in foreign exchange trading and seriously affected global asset prices, said Liu Mingkang, chairman of the China Banking Regulatory Com
There's one mention of the word gold in the Bank of Canada's latest annual report. There are no mentions of bullion. Canadians once owned 30 million ounces. Now we own none, preferring to back our currency with rock-solid things such as US dollars
The US dollar has so far had an orderly depreciation, Federal Reserve Bank of Dallas President Richard Fisher said on Tuesday. "Thus far the dollar has not been in a disorderly depreciation," Fisher told reporters, when asked about the carry trade.
A bill authorizing Medal of Honor Commemorative coins was signed into law on November 6, 2009 by President Obama. The commemorative coin program will include $5 gold and $1 silver coins to be issued in the year 2011. The Medal of Honor is America's
The International Monetary Fund signaled record low US interest rates are funding global "carry trades" and the dollar is still overvalued as concerns mount that new financial imbalances are forming. "There are indications that the US dollar is now
Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening.
The shooting, the bombing and the killing of World War II stopped in August of 1945, and the War was formally over. The US and Britain knew the War was won, in 1944. At that time, a Conference was called among the 44 Allied Powers,
Turkey is switching to national currencies in trade with Iran and China, ending dependence on the US dollar and the euro for about 20% of its commodity turnover, local media reported on Wednesday. Turkey has already switched to settlements
Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange. The decision by the world's biggest oil exporter
As the dollar continues to weaken, concerns are mounting in much of Asia over another descending currency: the Chinese yuan.For more than a year, China has kept the yuan largely unchanged against the dollar. So, like the dollar, the yuan has been fal
In a recent interview with Chrystia Freeland of the Financial Times, George Soros talks about his belief that the world needs a “financial new world order.” He goes into detail about China’s role in the new financial world order and says the dollar w
If they thought the sale of 45 tons of gold would hurt the price of gold, they would have kept the sale quiet. If the sale happens, it will now be bid-in-comp and will likely be executed substantially above spot.
Think commodities and emerging markets, and don't expect even high single digit portfolio returns.
That was the grim message today at the Forum for Institutional Investors conference, where a panel of private equity managers on macro economics.
Nouriel Roubini believes that a "wall of liquidity" is chasing all kinds of assets, yet once the economy disappoints expectations, it will all come crashing down.
Russia plans to sell as much as 50 tons of gold this year to help plug a budget deficit in the first major bullion sale by its precious metals repository since the fall of the Soviet Union, a high level source told Reuters.
Commodities rose broadly Wednesday as the dollar took another tumble, sending prices for gold, oil and soybeans soaring. The ICE Futures U.S. dollar index, a widely used measure of the dollar’s value against other currencies, fell 0.5 percent in afte
The Dollar Carry Trade and the lost Petro-Dollar advantage will work to destroy the USDollar as the global reserve currency. The USFed will have to resort to unusual means to keep the world ‘interested’ and ‘involved’ in the USDollar at all. When the
“The idea of making money earn a negative return is not entirely new. In the late 19th century, the German economist Silvio Gesell argued for a tax on holding money. He was concerned that during times of financial stress, people hoard money rather th
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