The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil...
The moped and its bigger, flashier cousin, the scooter, are swarming out of Jimmy Carter's America and into George W. Bush's republic - a movement propelled by soaring gasoline prices surpassing those of the late 1970s and by legions of Ameri
The euro's bid to become an alternative world reserve currency received another vote of confidence this week as more central banks diversify away from dollars, boosting the region's government bonds.
The euro hit a seven-month high above $
"The US, by itself, cannot and should not be expected to resolve the problem, but we, like other major participants in the global economy have an important role to play," Treasury Sec. John Snow said. "However, the US does not have a s
The International Monetary Fund stepped up the pressure for far-reaching shifts in exchange rates, declaring that the dollar will have to depreciate “significantly” over the medium term if global economic imbalances are to be resolved in an orderly f
European Brent crude oil held firm near its $74-a-barrel record high on Thursday after a steep drawdown in U.S. gasoline stocks fueled fears of tight summer supplies at a time of growing anxiety over
Gold put on more than $7 an ounce on Thursday as investors bet the rally driving prices to their highest in a quarter century was gaining momentum.
Record-high oil prices stoking fears that inflation will bite into the dollar's buying clout ha
States and local governments are borrowing less for the first time in four years, the result of soaring tax collections that have created budget surpluses in 42 states. Higher interest rates, which make borrowing more expensive, also played a
A pair of weaker-than-expected readings on the housing and manufacturing sectors in April sparked concerns about near-term economic strength. Tensions over
Iran's nuclear ambitions struck energy markets, causing oil prices to finish above $70 a
China is moving "agonisingly slow" in making its currency flexible, Deputy US Secretary of State
Robert Zoellick said, ahead of a bilateral summit where the currency issue is expected to hog the agenda.
The dollar fell sharply against the euro and yen in Asia on a media report suggesting that China might reduce its purchases of U.S. Treasury holdings, and amid speculation that U.S. interest rates may have peaked.
What some analysts posit is the real concern for the United States is Iran's plan to open its own oil exchange — the Iranian Oil Bourse (IOB) — with the alleged goal of becoming the dominant center of the Middle East's oil trade.
Nucor Chief Executive Daniel R. DiMicco sees a train wreck coming. True, Charlotte (N.C.)-based Nucor Corp., America's top steelmaker, had a banner year in 2005. But China now churns out more steel than the U.S., Japan, and Europe combined. Despi
Yields also are rising on speculation that higher short-term interest rates and improving economic growth prospects in Japan and Europe will entice people in those regions to invest domestically rather than in U.S. Treasuries.
The European single currency firmed to 1.2155 dollars from 1.2144 dollars late on Tuesday in New York. The dollar dipped to 118.19 yen, from 118.21 on Tuesday." The narrowing trade deficit is not expected to give much sustained support for the d
The US trade deficit narrowed 4.1% in February to $65.7 billion, as imports fell by the largest amount in nearly a year and the bilateral trade gap with China shrank 22.7%, the US Commerce Department said.
Oil prices briefly surpassed $69 a barrel Tuesday, gaining strength from a rally in gasoline futures and declarations from Iran's president that the country had successfully enriched uranium for the first time.
Gasoline prices are surging again with summer on the horizon, pushing or even passing $3 a gallon in some places. Meanwhile, drivers aren't expected to ease off on their mileage, sending demand higher than last year — but they are grumbling.
Stocks tumbled Tuesday as strength in the commodities market fed inflation fears and stifled investors' enthusiasm over upbeat first-quarter earnings from Dow Jones industrial Alcoa Inc. "(Commodities prices rising) would certainly seep thro
3 government auditors—inspectors general with the Department of Homeland Security, Department of Defense and Army—publicly disclosed figures on government waste in the Katrina recovery effort. The inflated prices were a result of poor planning as wel
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