http://www.nypost.com/p/news/business/dollar_loses_reserve_status_to_yen_hFyfwvpBW1YYLykSJwTTEL;jsessionid=65E301CF47ED50D15170F8D6530791C5
Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.
Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital. The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.
Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund.
Showing posts with label dollar. Show all posts
Showing posts with label dollar. Show all posts
Tuesday, October 13, 2009
Monday, October 5, 2009
The Demise of the Dollar
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
Wednesday, March 25, 2009
Daniel Hannan: "You have run out of our money"
http://www.youtube.com/watch?v=94lW6Y4tBXs
I am simply blown away. Why aren't their more politicans like this! Why aren't their more men with integrity, honor, and character? Obama's supposed oration talent pales in comparison to this. This is straight shouting, no non-sense talk. This is what people want from their politicians. That is what our country needs.
I am simply blown away. Why aren't their more politicans like this! Why aren't their more men with integrity, honor, and character? Obama's supposed oration talent pales in comparison to this. This is straight shouting, no non-sense talk. This is what people want from their politicians. That is what our country needs.
Subscribe to:
Comments (Atom)