currency

Big Oil's Long Goodbye To The Dollar

In an article by Robert Fisk published in THE INDEPENDENT, the crisis of the American dollar in oil dealings is explained a little deeper than was known the last time we visited this topic. More former allies have agreed to leave the dollar, thus hastening its demise. N THE MOST PROFOUND financial shift in recent Middle East history, Gulf Arabs are planning—along with China, Russia, Japan and France—to end all dollar purchases for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in...

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Navigating Gold's Northpoint

GARY NORTH not only has skin but he also has his head in the monetary game. Read this informative article, and prepare yourselves for the likelihood of a continuation of global financial distress. In the meantime, you may want to subscribe to his newsletter. Issue 847 April 10, 2009 HE GOLD WAR: Will You Lose It? If you own gold, you are in a war. You are under assault. You had better figure this out early. There is a full-scale war against you. The politicians and central bankers who are conducting this war against you are determined to see that...


China Cautions Against Devaluation

Hello America? Were you paying attention as you bought all that cheap garden equipment? China owns part of you. Saudi Arabia has scrambled for whatever's left. You, however, still get to speak English, for now. HINA IS TELLING THE US to be careful, not to overspend and keep an eye on the dollar. "There are risks that China cannot control, so they're depending on the U.S. to maintain fiscal prudence and keep the dollar reasonably stable to prevent devaluation." said Kelvin Lau, regional economist at Standard Chartered in Hong Kong. Analysts estimate China keeps nearly half of its $2 trillion...


Rippling Global Economic Crisis

USSIANS ARE CUTTING BACK on personal spending and trading rubles for dollars as the collapse of world oil prices cripples an economy that just months ago soared on the strength of record prices for its petroleum exports. Even vodka sales are down. Economists are especially worried by the mounting flight of capital and increased dollarization of the economy—something that last happened a decade ago when the government defaulted on its foreign debts. "Some of my friends have converted all their savings into dollars, leaving just 500 rubles to pay the phone bill in their account," said an administrative assistant at...


The New China's Big Stick

S WE HAVE BEEN predicting for several years now, this nation's economy is facing assaults from not just the jihadists but on several other fronts as well, particularly Saudi Arabia and China and their war on the dollar, the new China's big stick against its competitors. China roiled financial markets around the globe yesterday when it asserted that the dollar is losing its luster as the world's reserve currency and that Beijing will swap some of its $1.4 trillion in reserves out of U.S. dollars and into stronger currencies like the euro and Canadian dollar. China's verbal assault on the...