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Rumors are once again swirling of a “bank holiday,” during which US citizens will be prevented from withdrawing money or at least limited in the amount of the withdrawal they can make.
And now, for that Friday night bomb, when nuking stocks has a tad too much of a Waddell and Reed 'amateur hour' aftertaste, the only alternative - destroy the entire currency market.
Gold keeps setting new all-time highs! Hasn't anybody heard that the Republicans re-take the House? Yes... and get ready for the currency crisis. Here’s Charles Goyette on CNBC.com
Emerging powers won a battle on Saturday for heightened IMF scrutiny of rich countries' economic policies as world financial leaders sought to defuse mounting tensions over currencies.
As Chris Hedges wrote in June 2009, “The architects of this new global exchange realize that if they break the dollar they also break America’s military domination. US military spending cannot be sustained without this cycle of heavy borrowing.
China's Xinhua accused the US of being the currency manipulator and threatening the global recovery
Fears of a full-blown currency war flared Thursday as the dollar fell to an eight-month low against the euro and the U.S. stepped up pressure on China to let its currency rise.
Yesterday, the FT reported that France and China had been in secret talks over "heightened co-ordination of exchange rates" which is another way of saying finding alternatives to the rapidly debasing US Dollar.
Dominant Social Theme: We're doing everything we can here at the central bank. You're simply going to have to trust us. It will all work out.
If Albert Edwards, whose latest piece rhetorically asks (and answers) "what do devaluation, high unemployment, inequality and food prices spell? C-H-A-O-S" is correct, this could be the beginning of a rapid descent in which central banks around...
The American dollar is in bad need of a makeover. Thanks to the Dollar ReDe$ign Project, we may now have some options. Organized by creative strategy consultant Richard Smith, the Dollar ReDe$ign Project is soliciting ideas for the dollar bill of
It is unclear what is behind this flight from the dollar. Mainstream media and the financial media do not yet seem to be aware of it. Their stories tend to be focused on the BOJ's intervention more than the bigger picture. But something big may...
Fiat money allowed the US to experience boom. Fiat money produced the tech bust, the equities bust and the housing bust. Fiat money is the vehicle that is created and sponsored by the world's central banks. Fiat money will prove to be a fraud.
"It was 80 percent credit cards before we started, but it's now about 50/50," said Kent Black. "Non-locals still tend to pay with credit cards, but we've seen a marked increase in cash payments from the local customers."
A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China. HSBC, which recently moved its chief executive from London to Ho
Hyperinflation is a fiscal phenomenon borne out of a bankrupt state that can’t service its debts.
The state government of Kelantan (Malaysia's most muslim region) plans to begin circulation of the new coins by using them to meet payroll for the state's employees.
Using the above logic, it would signify that, unlike Buffett, Gross is now more primed for deflation than ever. In the great inflation-deflation debate, this will be the primetime heavyweight cagematch to watch.
Greg McCoach talks about the imminent collapse of the US Dollar and what comes next.
Obama and Geithner will be pushing for a growth package. It is likely that some of the other countries are going to give the US a thumbs down. America is going to be the only major country left that is continuing down the path of fiscal insanity.
It is this concept of interconnectivity that as the players are finding out it is a disaster. How can solvent European countries even contemplate a $2 trillion bailout for nations that really do not care if the debt is ever paid off?
In his latest note on comparisons between the current state of the economy and the Great Depression, Martin Armstrong provides a nice look at the dollar index between 1900-1950.
We may break $1.20 on the euro today, which would be huge. The big twin fears: Hungary and SocGen. Futures are off about 1%. France is getting hammered.
A business inadvertently gives you counterfeit money — are you stuck with it? In most cases, yes. But what if that business happens to be a branch of the federal government?
This is not a true parabolic curve because as the trend accelerates the curve changes shape until it becomes vertical. It’s the vertical section of the curve which is most useful because it provides a exact date when the trend will inevitably collaps
The prices of Bonds, particularly the longer term Bonds (10, 20, 30 years), are rather sensitive to changes in interest rates. Unless you hold a Bond to maturity, its price can fluctuate rendering your investment not all that risk-free after all.
The Eurozone may be forced to undergo severe economic and political adjustments in order to manage a currency system they're stuck with. Many Europeans are suddenly realizing that they had no idea what they were agreeing to when they joined...
The Treasury is still fishing for blanket authority to change compositions rather than asking the Congress to authorize a specific replacement composition as used to be done.
Tim Geithner, the US Treasury Secretary, is to meet with China's vice-premier on Thursday in an unexpected visit likely to advance hopes of an end to Beijing's currency peg. Mr Geithner's meeting with Wang Qishan comes just days before President
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired
