Sunday, March 22, 2009

Fate of Money

Dollar as world’s only reserve currency is illegal, Kazakhstan president says
03/10/2009 [article] / World / Former USSR
A new world currency must be created under the aegis of the United Nations Organization, Kazakhstan’s President Nursultan Nazarbayev said. "World currency is de jure not legal because it was never accepted by any communities, any organizations and there is no such law in the world," he said. More>>

Putin denies rumors of mysterious new world currency
03/05/2009 [article] / Russia / Economics
Russian Prime Minister Vladimir Putin rejected the rumors about the possibility of a new currency to appear in the world. Putin also urged not to compare the current crisis in the USA with the Great Depression... More>>

Euro may collapse to dollar’s laughter
02/09/2009 [article] / World / Europe
The future of the European currency is challenged. The euro, which appeared as a result of the political decision, has only several years left to live. Many European officials believe that the continent needs to return to national currencies against the background of the ongoing economic crisis. However, the euro may collapse for economic reasons too, no matter how strange it may seem to sound nowadays... More>>

US debt default to make dollar collapse
02/03/2009 [article] / Business / Finance
The prospect of the United States defaulting on its debt is not just likely. Its inevitable, and imminent. The regulatory black holes into which sanity and reason disappear on a daily basis are soon to collapse under the mass of their sheer size. The circle jerk going on among G7 governments has to end – the steady advance of gold, even in the face of a managed price, exposes the real value of the U.S. dollar, as opposed to its apparent value expressed in the dollar index. More>>

Putin urges Europe not to fog his mind
01/30/2009 [article] / Russia / Economics
Russia’s Prime Minister Vladimir Putin, who was given the honor to open the World Economic Forum in Davos, switched to his typical tough style of talking. His remarks were not similar to his renowned speech in Munich (it was his most anti-Western speech during his entire presidency), but he did exercise some of his tough rhetoric... More>>

China to continue propping up the US dollar?
01/27/2009 [article] / Business / Finance
China and the United States have had a trade imbalance for quite a long time. In theory, when one country (the U.S.) imports more goods from a country (China) than it exports to it, the value of the currency of the importing country (the dollar) sinks relative to the value of the currency of the exporting country (the yuan). At least, this is supposed to happen when the value of currencies is allowed to float. More>>

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