Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works. Not anymore.
Faber said the U.S. federal deficit is likely to continue ballooning under the Obama administration, which could make interest payments on government debt unbearable.
An Arizona man noticed the money he had kept in a bucket in a secret location on his property had been replaced with rocks. A note with GPS coordinates of other burial sites was also missing.
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.
Wal-Mart, who has for years touted their prowess at lowering prices, is now doing the opposite. They have raised prices by nearly 6% on average over the past 6 weeks, with some startling individual price hikes.
People will lose faith in the dollar, and try to get out of it—at all costs, all at once. Hyperinflation is not the economy overheating, like regular inflation—hyperinflation is when nobody wants to be caught dead with a currency.
But what wasn't known, until recently, is how far along the International Monetary Fund was in the planning of elevating its so-called "special drawing rights" from mere international agreement to an actual, legitimate global currency.
What will happen instead is they will print so much money in this effort and they won't get the traction, and then it will just tip, it will be like throwing a light switch and it will go from no inflation to hyperinflation instantaneously.
If the Fed has difficulty explaining why banks are unwilling to lend to consumers when there is over $1 trillion in cash sitting and collecting dust, the problem gets even thornier when Bernanke has to defend 4 times this number.
Investors' love affair with the "other" currencies may be just beginning. The Canadian dollar, Australian dollar and Swedish crown are gaining in popularity as investors increasingly look for alternatives amid troubling outlooks for the United States
As everyone knows from elementary chemistry courses, gold is the most inert metal in the world - it does not rust, nor corrode. Yet this is precisely what is happening to thousands of (allegedly) .999 pure "St. George" coins.
Canadian Mint has talked to officials in both Australia and New Zealand — two countries that have axed the one-cent coins — to learn about their experience in a penny-free society.
China dumped $33 billion in Treasuries, bringing its total to the lowest since June 2009. Furthermore, Japan also offloaded $8.8 billion in bonds, as did the Oil Exporters.
Greg McCoach talks about the imminent collapse of the US Dollar and what comes next.
Central banks have resumed their diversification away from the U.S. dollar, cutting the percentage of reserve assets held in dollars, as shown by the dark blue line in the chart below.
The report said a new reserve system "must not be based on a single currency or even multiple national currencies but instead, should permit the emission of international liquidity - such as SDRs - to create a more stable global financial system."
Slow and steady wins the race. And I mean really slow — and really steady. Allmon's achievement is foreign to the great bulk of investors whose investment attention span is measured in months, if not weeks or days.
The intention of Central Bank of Russia would be to cause a 50 percent overnight devaluation of the U.S. dollar and displace the U.S. dollar as the leading global reserve currency. The expected market value of gold resulting from this...
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?
House Democrat leader Steny Hoyer will today announce that the US will not pass a budget in 2010 as “It isn’t possible to debate and pass a realistic, long-term budget until we’ve considered the bipartisan commission’s deficit-reduction plan...
Francis E. Warnock argues, that the United States was at the tipping point in 2009 of a collapse of its bond market, but was saved, ironically enough, by the Greek financial crisis, which caused a flight into the U.S. Treasury market.
The Peoples Bank of China has announced that it will no longer fix its currency in terms of the dollar. Instead it will manage the yuan against a basket of currencies.
When the artificial conditions are removed the valuation of the bubble 'reverts to the mean, ' a more normal valuation based on the fundamentals, unadjusted and undistorted supply and demand. An asset bubble often involves a fraudulent design...
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.
It is all too well known that France and Germany will go bust overnight if PIIGS debt is allowed to be marked even halfway to market pro forma for governmental bailouts, on the banks' balance sheets. Throw in Austria and Italy if the Hungarian crisis
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