In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘dollar decline’

Gold Trades Near Record, May Gain on Dollar Weakness, Inflation

Posted by smeddum on October 7, 2009

Gold Trades Near Record, May Gain on Dollar Weakness, Inflation

By Kim Kyoungwha

Oct. 7 (Bloomberg) — Gold traded near a record after investors bought the metal to hedge against a declining dollar and pickup in inflation.

Bullion, which typically moves inversely to the U.S. currency, surged to an all-time high yesterday after Australia unexpectedly raised interest rates, hurting the dollar. The metal has risen 18 percent this year as governments boost spending to pull their economies out of recession, sparking speculation rising money supply will debase paper currencies. Read the rest of this entry »

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Sarkozy says the world can’t rely on just the Dollar

Posted by smeddum on August 28, 2009

08/27/2009 –

Forexhound

from Finotec

Sarkozy says the world can’t rely on just the Dollar and currencies
The political and economic reality of a multi-polar world will eventually have to be transmitted on the monetary level

French President Nicolas Sarkozy said currencies should be re-aligned to reflect changes in the world, suggesting that the dollar alone cannot remain dominant. “The political and economic reality of a multi-polar world will eventually have to be transmitted on the monetary level,” Sarkozy said today in a speech in Paris. “A multi-polar world can’t count on only one currency.” Though he did not mention the currency by name, Sarkozy’s remarks are among the first by a major Western leader to cast doubt on the role of the dollar. The world must change to limit “excessive and profoundly destabilizing exchange rate fluctuations,” Sarkozy said in a speech today in Paris. “France won’t accept that the euro alone takes the weight of the adjustment, as it has in the past.” The EUR/USD is currently trading at $1.4240 as of 9:00am, London Time. Read the rest of this entry »

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Abandoned USDollar & Paradigm Shift

Posted by smeddum on July 25, 2009

By: Jim Willie CB, GoldenJackass.com
— Posted Thursday, 23 July 2009 |  Source: GoldSeek.com

A paradigm shift is underway, unrecognized inside the US kettle. Its water level is falling and its temperature is rising, even as fewer foreign born cooks stir its contents. The US banking and political leaders errantly pursue a path toward a return to normalcy, when all pathways have been washed out by powerful storms that to do abate and will worsen. Several key developments point to a new global order taking shape, as the Chinese actively work to plant global seeds that result in the Yuan currency serving more of a role in global trade. They will eventually de-throne the USDollar from its primal perch. The USDollar will be used less in global trade. TheUS$-based assets are being diversified. These developments are gaining traction, power, and publicity. The foreign creditors continue to protect their core US$-denominated reserves, while clearly undermining the US$ on the margin, as alternatives are chosen. To date, the alternative choice is hard assets, commodity supplies, and properties from the resource camp. The paradigm shift will change the face of the United States permanently, but to date few recognize the changing landscape.

CORRECT TIPOFF TO DOLLAR DUMP

Last week, a tipoff came that turned out to be true, shared in last week’s article. A contact source passed word that on Sunday night, Asia would sell the USDollar down in a big way. Four to five large parties were involved. Seemingly small moves in the FOREX cause tremendous disruption, since entire continental economies are involved with price shifts. The US$ index did fall markedly, in a moderate quantum leap down. It fell from the mid-79s to the upper 78s, big in the currency world. The principal agent pushing the buck down was the Euro, which enjoyed a major 120 basis point upleg that has held all this week. The Euro now approaches the 143 level. So the tipoff was true. We await the follow-through, like from short covering by Euro traders who were wrong on bets. If the Euro can push past 143 (it is now 142+), then clear sailing to the 155 mark will be enabled, without any notable resistance.The USDollar index would fall enough to capture global attention. Maybe they would proclaim the advent of a Currency Crisis. Read the rest of this entry »

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World Prepares to Dump the Dollar

Posted by seumasach on July 24, 2009

Robert Morley

The Trumpet

21st July, 2009

What do China, India, Brazil, Russia, France and Germany have in common? These countries most often can’t agree on anything. But they are united in one strange—and ominous—way. They blame the United States for wrecking the global economy. And they think the dollar is the wrecking ball.

Read the rest of this entry »

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Radio: Jim Willie-Pretend and extend tactics

Posted by smeddum on July 21, 2009

http://www.contraryinvestorscafe.com/partners.php?pid=62242

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Michael Hudson speaks to Max Keiser

Posted by seumasach on July 12, 2009

Click here for reference to Primakov’s resource rent tax.

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China Willing to Buy Up to $50 Billion in IMF Bonds

Posted by smeddum on June 5, 2009

JUNE 5, 2009,
China Willing to Buy Up to $50 Billion in IMF Bonds
WSJ

By ANDREW BATSON

BEIJING – China said Friday it is willing to buy as much as $50 billion in bonds issued by the International Monetary Fund, part of a deal made by the world’s major economies earlier this year to boost the resources the global agency has to combat financial crises. Read the rest of this entry »

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