For decades, the U.S. economy was so dominant compared to the rest of the world that nobody really even challenged the status of the U.S. dollar as the reserve currency of the world.
John Embry is Chief Investment Strategist at Sprott Asset Management.
“Don’t get discouraged by silver not doing as well as gold the last couple of trading days, it is building a base for a breakout above $42. Once that occurs….”
Every country can’t devalue their currency simultaneously without blowing up the entire worldwide monetary system. But, it appears they are going to try. The United States will never actually default on its debts. Bernanke will attempt to default...
An announcement by the Fed of yet a third QE stimulus package is a certainty. If the market reaction is especially negative this week, an announcement could even be made before this month is out.
Two take homes: i) the Fed has just lost its competitive advantage of doing idiotic things on a massive scale as the world wake up to tits trickery (unless of course the Fed resumes said thing on a massiver scale, which it will), and ii) tomorrow...
The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered as its triple A-credit rating was slashed by Standard & Poor's (S&P) for the first time on Friday.
Manufactured by Fujitsu under the trade name PalmSecure, it's a system that requires no hardware on the user side. If you've got hands and you can wave them in front of a detector, you can use it to make purchases.
We received an urgent notice that, effective immediately and until further notice, there is a freeze on all configuration changes, for all network devices across the globe, that have a role in the trading of US Treasury instruments, US debt...
Monetary scholar Edwin Vieira ... pointed out that every 30 to 40 years the reigning monetary system fails and has to be retooled. The last time around for the U.S. was in 1971, when Nixon cancelled the convertibility of dollars into gold.
Currency depreciation – High deficits, both fiscal and trade, combined with low interest rates for extended periods of time produce declining currency valuations against more prosperous, and more policy conservative competitor nations.
The US dollar could plummet in exchange value and lose its role as world reserve currency. The US would no longer be able to pay its oil bill in its own currency, and as its balance of payments is heavily in the red, the US has no foreign...
With free shipping and credit card payments accepted, a whole cottage industry emerged, to buy (and quickly return to banks) the massive shipments of dollar coins, while keeping the cash back and miles earned through their credit cards.
Foreign exchange controls will almost certainly attempt to keep you and your wealth under US government control, to be plundered. You must go international to diversify away from this mounting political risk.
The alpine country of 7.7 million residents holds 1,040 tons worth about $46 billion, almost as much as China, and only decoupled its currency from gold in 2000.
WikiLeaks announced on Friday evening that it and service provider Datacell intend to sue Visa and MasterCard in Europe "for engaging in an unlawful, U.S. influenced, financial blockade."
The Treasury will not only have to issue as much debt as before, but it will have to issue massively more in the short term to catch up to the ongoing run rate, and also in order to prefund the same retirement accounts it has been plundering...
There are a number of reasons that European and U.S. interests have incentive to go after Gaddafi. Gaddafi's plan for a new gold backed currency is likely one of them.
Separate from security intrinsic to the phone, however, is the idea of utilizing biometric systems to secure transactions and other functions completed via the mobile phone but in an online environment.
Casey’s arguments against Bitcoin are weak or misleading. His arguments can be applied to gold as well. Casey should rethink his logic before making public pronouncements about the efficacy of Bitcoins as a currency.
"So, we're basically putting all of those transactions on the phone, so all you have to do is wave or tap your phone to the reader and then it recognizes you're a loyalty-program member and it recognizes what coupons you've downloaded...
5 weeks ahead of the day when the debt ceiling "extend and pretend" plan ends, talks have broken down, and in order to hike Congressional Nielsen ratings, this time seemingly terminally.
"Basically early adopters," he said. "Somebody that was willing to change, willing to see the future, willing to take that chance to do it differently. Austin came right to the top of the list."
The Bank of Canada introduced brand new polymer bills, yesterday. As the Toronto Sun puts it, the move is designed to use high-tech materials to "thwart counterfeiters." The notes, which have two see-through windows, are also cheaper to make and last
At the forefront of this rollout is Google, which has teamed up with MasterCard and CitiGroup to produce the service. It’ll work via Google Wallet2, an app that allows customers with compatible phones to begin using NFC.
Rogers said he believed U.S. should have been downgraded years ago, and Fitch was dillydallying, saying "The rating agencies have gotten it wrong for 10-15 years now. America is bankrupt. What are they talking about?"
The leaders can swim only if they push others in the pool underwater. Most debt default starts with a nasty run on the currency.
“I have very little doubt that we will see some form of currency control within the U.S. and some other countries, because one thing you can count on is that the government never controls itself. What it does is control its subjects.”
"Google will make NFC a success this time", Clemmer said, adding that all handset makers are looking into a technology that has also drawn the attention of banks and mobile carriers looking to diversify their revenue streams.
Bitcoin is a new digital currency traded over p2p connections that is essentially untraceable and not connected to any bank. This has made it a favorite of the tech-literate crowd, but 2 US Senators are looking to crackdown on Bitcoin after