International Money

A trillion here, a trillion there…

The Group of Twenty, or G-20, issued this statement: “We face the greatest challenge to the world economy in modern times; A global crisis requires a global solution… The agreements we have reached today, to treble resources available to the IMF to $750 billion, to support a new SDR allocation [...]

Dollar Dumping Myths

Brazil, Russia, India and China, four names that have emerged on the financial front as leaders in the dump the dollar movement. Their leaders have been more than vocal in joint disdain for the dollar. China’s Premier, Wen Jiabao, was quoted on March 13, “We have lent a huge amount of money [...]

From Russia with love

In our last issue we explored the notion that the Euro would unseat the dollar. This is not a new concept. It is one that the doom and gloomers have talked about since the inception of the Euro. But while they have been fretting over the Euro, other threats have emerged, such as the Gold dinar. Not [...]

Oil for Euros ~ How Crude

It seems the rush to release dollars has begun in earnest. When our book, “The Secret World of Money”, debuted in 1996, the prediction was made that the new currency emerging from the European community would certainly constitute a threat to dollar supremacy. The Euro was not yet firmly [...]

Trouble With the Carry Trade

2007 – Q1 Trouble With the Carry Trade  The Bank for International Settlements (BIS) in Basle, Switzerland, is the Central Bank’s central bank. It is the outfit John Kennedy referred to as the “Gnomes of Zurich”. Among its members are the central banks of the world, the [...]

OPEC BAILS OUT

Oil producing nations have significantly reduced their dollar holdings to the lowest level since 2003. In this three year period, OPEC has shifted oil income into Yen, Euros, and Pound Sterling. This is all according to data from the Bank for International Settlements. The most recent BIS review [...]

China Takes A Stand

According to reports corroborated by Bloomberg News Services and the Financial Times, an air of confrontation was evident at the annual summit of the Asian Development Bank. A heated verbal clash between the U.S. delegation and the Chinese representatives nearly caused an abrupt halt to productive [...]

The Benefits of a Weak Dollar

Despite expressions to the contrary by politicos and economists, the nature of a weak dollar can actually benefit stagnated portions of our economy. For example, a weak U.S. dollar will actually help boost the manufacturing sector. A weak dollar can also help sell U.S. made goods in overseas [...]

THE REAL COST OF MONETARY FREEDOM

The notion of one currency for the United States, Canada, Mexico and other Latin American countries is not a new idea. The most widely known plan involves a process known as dollarization. Postulated by Kurt Schuler in a 1999 staff report to the Joint Economic Committee of Congress, entitled: [...]

Russia Wants Euros – Not Dollars

The Central Bank of Russia will have to decrease the share of dollars in its foreign currency reserves if Russia sells oil and gas for euros. That is precisely what President Vladimir Putin promised to German Chancellor Gerhard Schroeder. A senior Deputy Finance Minister said that Russia was going [...]
1 2