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3/2/2011 Why the Dollar's Reign Is Near an End
For decades the dollar has served as the world's main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here's why--and what it will mean for international markets and companies.

The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days. Instead, it's the extent to which the market remains dollar-centric. Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S. Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business. The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars.
(Wall Street Journal)
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posted: 3/4/11                   0       9
#1 



2/22/2011 Libya protests: Oil prices rise as unrest continues
Oil prices have risen in the UK and US after continued unrest in Libya and worries about the impact on the country's crude exports. In London Brent crude rose by more than $2 a barrel to $108.5, before falling back to $105.78 a barrel. In New York, US light sweet crude oil rose by $7.37 to $93.57 a barrel. US shares also closed heavily down. Asian stocks had closed down, and European shares also fell before recovering by mid-afternoon.
(BBC)
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posted: 2/23/11                   0       9
#2 
keywords: Ali Al-naimi, Asia, Australia, Barclays, Benghazi, Big Oil, British Airways, British Petroleum, Cathay Pacific Airways, China Airlines, Cmc Markets, Dollar, Dow Jones, Eni, European Union, France, Germany, Hong Kong, Iberia, International Consolidated Airlines, Italy, Japan, Korea Airlines, Kuwait, Libya, London, Lufthansa, Michael Hewson, Middle East, Milan, Mohammad Bin Dhaen Al-hamli, Nasdaq, New York, New Zealand, Qantas, Repsol-yfp, Royal Dutch Shell, Saudi Arabia, Singapore Airlines, South Korea, Spain, Standard & Poor's, Taiwan, United Arab Emirates, United Kingdom, United States, Yinxi Yu Add New Keyword To Link



1/21/2011 Peter Schiff On FXBIZ: The Great Currency Debate
Peter Schiff talks to Judge Napolitano about the prospect of a currency war with China.
(FOX)
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posted: 2/22/11      
            
0       4
#3 



11/24/2010 China, Russia quit dollar
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday. Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies. "About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg. The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.
(China Daily)
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posted: 4/18/11                   0       1
#4 
keywords: Asia, Beijing, China, Chinese Academy Of Social Sciences, Dmitry Medvedev, Dollar, European Union, Financial Crisis, Gazprom, Hu Jintao, Igor Sechin, Intellectual Property, Moscow, Nuclear Power Plants, Pang Zhongying, Renmin University, Renminbi, Rouble, Russia, St Petersburg, Sun Zhuangzhi, Tianwan, United States, Vladimir Putin, Wen Jiabao, Yuan Add New Keyword To Link



10/21/2010 Lindsey Williams: Deathbed Globalist "Spills Gut" On Plan to Destroy America
Alex Jones Tv 3/6

Lindsey Williams reveals new bombshell information on the Alex Jones Show today. Williams, who has been an ordained Baptist minister for nearly 30 years, went to Alaska in 1971 as a missionary and because of the executive status accorded to him as Chaplain, he was given access to the information that is documented in his book, The Energy Non-Crisis. In 2009, Williams told Alex Jones about the plan by the global elite to sabotage the dollar, destroy the economy and America by 2012.
(Prison Planet)
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posted: 11/28/10      
            
0       10
#5 



6/15/2010 Mexico To Limit US Dollar Cash Transactions To Combat Crime
Mexico's Finance Minister Ernesto Cordero said Tuesday the government will seek to limit cash transactions in U.S. dollars as an anti-money laundering measure aimed at fighting organized crime. Mexico receives more than $10 billion a year in suspicious dollar flows, Cordero said at a press conference. The new rules, some of which will take effect during the next 90 days, will limit dollar bank deposits, the payment of loans and services, as well as foreign exchange transactions to between $1,500 and $7,000 a month, depending on the profile of the client, he said.
(Wall Street Journal)
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posted: 6/22/10                   0       16
#6 



6/2/2010 Iran 'restricting euro transactions'
As the stagnant European economy weighs heavily on the euro forcing it into a downward spiral, the Central Bank of Iran (CBI) unveils a major plan for converting 45 billion of its euro reserves into dollar and gold ingots.
(Press TV)
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posted: 6/22/10                   0       10
#7 
keywords: Central Bank Of Iran, Dollar, Euro, European Union, Financial Crisis, Greece, Ingots, Iran, Jaam-e-jam, Persian Gulf, Spain Add New Keyword To Link



5/6/2010 Gerald Celente: Crash of 2010 inevitable
The Dow Jones industrial market is down and looks to continue to head that direction. This is not good news for the worlds economies that are trying to bounce back after this recession hit many different nations. Is this a direct reflection of the Greece financial crisis?
(Russia Today)
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posted: 2/22/11      
            
0       1
#8 



9/23/2009 Even the Part-Time Jobs are Disappearing -- The Economy is a Lie, Too
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over. The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered its pre-2001 peak.

The unemployment rate, as reported, is a fiction and has been since the Clinton administration. The unemployment rate does not include jobless Americans who have been unemployed for more than a year and have given up on finding work. The reported 10% unemployment rate is understated by the millions of Americans who are suffering long-term unemployment and are no longer counted as unemployed. As each month passes, unemployed Americans drop off the unemployment role due to nothing except the passing of time. The inflation rate, especially “core inflation,” is another fiction. “Core inflation” does not include food and energy, two of Americans’ biggest budget items. The Consumer Price Index (CPI) assumes, ever since the Boskin Commission during the Clinton administration, that if prices of items go up consumers substitute cheaper items. This is certainly the case, but this way of measuring inflation means that the CPI is no longer comparable to past years, because the basket of goods in the index is variable. The Boskin Commission’s CPI, by lowering the measured rate of inflation, raises the real GDP growth rate. The result of the statistical manipulation is an understated inflation rate, thus eroding the real value of Social Security income, and an overstated growth rate. Statistical manipulation cloaks a declining standard of living.
(Counter Punch)
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posted: 8/1/11                   0       1
#9 



9/22/2009 Marc Faber: "Total Collapse Will Come"
Marc Faber predicts with certainty that the United States will go through high inflation and a lower standard of living. Expect wars and currency re-evaluation.
(Yahoo!)
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posted: 2/22/11      
            
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#10 



8/25/2009 Tim Geithner evades questions about bank bailouts Part 2 of 2 (Wall Street Journal)
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posted: 8/28/09      
            
0       17
#11 



8/3/2009 Controlling the Global Economy: Bilderberg, the Trilateral Commission and the Federal Reserve
Global Power and Global Government: Part 3
(Global Research)
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posted: 8/21/09                   0       22
#12 
keywords: Ahmed Yamani, Allen Dulles, Anwar Sadat, Argentina, Arthur Miller, Augusto Pinochet, Bank For International Settlements, Bayless Manning, Belgium, Big Oil, Bilderberg Group, Brazil, British Petroleum, Carnegie Corporation, Central Intelligence Agency, Chile, Council Of The Americas, Council On Foreign Relations, Coup, Cuba, Cyrus Vance, David Rockefeller, Dollar, Doonie Edwards, Edmund Leopold De Rothschild, Etienne Davignon, Euro, European Central Bank, European Coal And Steel Community, European Economic Community, European Movement, European Parliament, European Union, Federal Reserve, Financial Crisis, Ford Foundation, France, Germany, Globalization, Harold Brown, Henry Kissinger, Houston TX, International Financial Institutions, International Monetary Fund, Iran, Israel, James Akins, Japan, Jimmy Carter, Joseph Nye, Joseph Stiglitz, Luxembourg, Mcgeorge Bundy, Mexico, Middle East, National Petroleum Council, Nelson Rockefeller, Netherlands, Office Of Strategic Services, Organization Of The Petroleum Exporting Countries, Paul Volcker, Richard Cooper, Richard Nixon, Robert Schuman, Rockefeller Foundation, Royal Dutch Shell, Russia, Salvador Allende, Samuel Huntington, Saudi Arabia, Saudi Arabian Monetary Agency, Total Sa, Trilateral Commission, US Department Of State, US National Security Council, United Kingdom, United States, Venezuela, Vietnam War, Wall Street, Walter Bedell Smith, Walter Mondale, Warren Christopher, White House, William J Donovan, William Rogers, World Bank, World War II, Zbigniew Brzezinski Add New Keyword To Link



7/21/2009 Ron Paul Opening Statement Fed Hearing (CSPAN)
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posted: 7/28/09      
            
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#13 



7/16/2009 Max Keiser takes offense to Goldman Sachs story (2 of 2) (France 24)
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posted: 7/21/09      
            
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#14 



7/10/2009 Medvedev Shows Off Sample Coin of New 'World Currency' at G-8
Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a "united future world currency."
(Bloomberg)
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posted: 7/17/09                   0       11
#15 



6/23/2009 One World Ventures Announces the Marketing of One World Card for Migrant Workers and Their Families
One World Card, the unique VISA/MasterCard remittance solution "Money Transfer Card" and the world's first combination "Pay-Remit Card."
(Market Wire)
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posted: 6/23/09                   3       17
#16 
keywords: Dollar, Indonesia, Mastercard, One World Ventures, Philippines, United States, Vietnam, Visa Add New Keyword To Link



6/17/2009 Dollar drops on reserve currency doubts
The dollar fell against the euro and yen on Wednesday after major emerging economies cast doubt on its long-term future as the world's main reserve currency
(Agence France-Presse)
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posted: 6/17/09                   4       21
#17 



6/16/2009 Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery
On March 30, 2009, the US Treasury Department announced that USD $134.5 billion remained in its Troubled Asset Relief Program [TARP]. The stated amount of seized bearer bonds was $134.5 billion.
(Seeking Alpha)
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posted: 6/18/09                   5       20
#18 



6/15/2009 Cash to become extinct as chips take off
They told The Advertiser's round table forum that cash and cards will be replaced by computer chips embedded in mobile phones, watches or other portable devices
(News.com.au)
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posted: 6/19/09                   2       19
#19 



6/9/2009 No one talking about dumping dollar: China minister (Reuters)
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posted: 6/9/09                   7       27
#20 



6/9/2009 The Dollar is Doomed and the Fed's Days are Numbered (Bloomberg)
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posted: 6/9/09      
            
8       30
#21 



6/8/2009 Top Chinese banker Guo Shuqing calls for wider use of yuan
The head of China's second-largest bank has said the United States government should start issuing bonds in yuan, rather than dollars, in the latest indication of the increasing importance of the Chinese currency
(London Telegraph)
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posted: 6/8/09                   4       26
#22 



6/5/2009 Asheville man charged in alleged Liberty Dollar fraud scheme
William Kevin Innes marketed the “barter” currency in Western North Carolina and recruited merchants willing to accept it and give it as change for products bought with real money
(Asheville Citizen Times)
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posted: 6/2/09                   4       24
#23 



6/2/2009 Dollar Declines as Nations Mull Reserve Currency Alternatives
The dollar weakened beyond $1.43 against the euro for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency
(Bloomberg)
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posted: 6/4/09                   4       21
#24 



5/21/2009 Dollar Is Dirt, Treasuries Are Toast, AAA Is Gone: Mark Gilbert (Bloomberg)
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posted: 5/22/09                   7       24
#25 



5/20/2009 Veteran financial guru Jim Rogers warned CNBC viewers today that the stock market has yet to hit a bottom despite people ploughing their money back into a suckers rally, as the plan to pull the rug out from under euphoric investors draws closer (CNBC)
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posted: 5/20/09      
            
6       25
#26 



5/19/2009 Dollar stops being Russia's basic reserve currency
The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent
(Pravda)
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posted: 5/21/09                   6       23
#27 
keywords: Dollar, Euro, Financial Crisis, Russia, Russian Central Bank, United States Add New Keyword To Link



5/18/2009 Brazil and China eye plan to axe dollar
will work towards using their own currencies in trade transactions rather than the US dollar
(Financial Times)
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posted: 5/19/09                   2       30
#28 



4/6/2009 China's Yuan Ambitions: Currency swap agreements are part of a larger plan to extend the Chinese currency's role in global trade.
China is playing a growing role in discussions over solutions to current economic problems. Much of the talk has focused on money -- whether Premier Wen Jiabao's concerns about the value of China's U.S. treasury investments, or the People's Bank of China's paper floating the idea of a de-dollarized international monetary system. Up to now, one limit to China's ability to contribute to global monetary reform has been its own currency policy, particularly the fact that the yuan is not convertible. However, now there are tentative signs that's starting to change. Beijing has signed currency swap agreements with six central banks: Hong Kong, Indonesia, Korea, Malaysia, Belarus and most recently Argentina. These swaps permit those central banks to sell yuan to local importers in those countries who want to buy Chinese goods. This is particularly useful for importers struggling to obtain trade finance as a result of the financial crisis. As such, it's consistent with China's desire to participate in the Group of 20's efforts to support trade financing. China has long wanted its currency to play a more important role in the global financial system. These swap arrangements come in the context of that broader policy aim. The broader policy goal also has a more practical function in reducing currency exposure and transaction costs for Chinese exporters. The rise in the yuan's value relative to the dollar in early 2008 was a reason why some Chinese exporters went bankrupt. The ability to settle trade in yuan would reduce this risk in the future.
(Wall Street Journal)
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posted: 3/12/11                   0       2
#29 



4/3/2009 The G20 moves the world a step closer to a global currency
The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity
(London Telegraph)
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posted: 6/5/09                   2       20
#30 



4/1/2009 Growth to slow down hitting hard the poor countries
Gross Domestic Product (GDP) growth in the developing world will slow to a projected 2.1 per cent in 2009 from 5.8 per cent in 2008
(Financial Express)
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posted: 5/14/09                   3       25
#31 



3/26/2009 UN panel touts new global currency reserve system
A UN panel of expert economists pressed Thursday for a new global currency reserve scheme to replace the volatile, dollar-based system and for coordinated steps by rich countries to stimulate their economies
(Agence France-Presse)
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posted: 6/5/09                   2       21
#32 



3/25/2009 Dollar dips on Geithner's 'loose talk'
Mr Geithner told the Council for Foreign Relations that he had not studied the proposal by Zhou Xiaochuan, Chinese central bank governor, for greater use of special drawing rights
(Financial Times)
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posted: 5/14/09                   2       24
#33 



3/24/2009 Geithner Plan Will Rob US Taxpayers: Stiglitz
The U.S. government is basically using the taxpayer to guarantee against downside risk on the value of these assets, while giving the upside, or potential profits, to private investors
(CNBC)
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posted: 7/8/09                   0       9
#34 



3/23/2009 China ready to discuss new reserve currency at G20 summit
"We believe it is necessary to consider the IMF's role in this process and also define the possibility and the need to adopt measures allowing for Special Drawing Rights (SDRs) to become an internationally recognized super-reserve currency," Russia's proposal read
(NOVOSTI)
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posted: 5/14/09                   2       21
#35 



3/23/2009 Jim Rogers the Dollar is Doomed (MoneyShow.com)
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posted: 6/9/09      
            
3       21
#36 



1/28/2009 How realistic is a North American currency?
Commentary: Uniting U.S., Canada, Mexico money could result from crisis

Canadian economist Herbert Grubel first introduced a potential manifestation of this concept in 1999. The North American Currency -- called the "Amero" in select circles -- would effectively comingle the Canadian dollar, U.S. dollar and Mexican peso.
(Wall Street Journal)
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posted: 5/4/09                   3       14
#37 
keywords: Amero, Canada, Dollar, Federal Reserve, Herbert Grubel, Mexico, New World Order, North American Union, Peso, Thomas Jefferson, United States, Working Group On Financial Markets Add New Keyword To Link



12/8/2008 What Are The People Who Predicted the Financial Crisis Predicting Now?
There are only a handful of people who predicted this financial crisis, or at least its severity.
(Washington's Blog)
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posted: 5/22/09                   5       24
#38 



11/20/2008 Paulson Was Behind Bailout Martial Law Threat
"I think there's a bunch of wrong-footed moves by Hank Paulson and the Illuminati"
(CNBC)
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posted: 5/18/09                   3       29
#39 



9/11/2008 Bailouts Will Push US into Depression: Manager
"We expect a depression in the United States. We expect a depression, very possibly, also in Europe," Hennecke said on "Worldwide Exchange."
(CNBC)
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posted: 5/14/09                   2       24
#40 



3/13/2008 Jim Rogers on CNBC
Bernanke should resign and abolish the Federal Reserve!
(CNBS)
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posted: 5/20/09      
            
5       26
#41 



3/2/2008 Dollar: It will only get worse
Greenback likely to stay under pressure in near term but find relief by mid-year, currency experts argue
(CNN)
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posted: 6/17/09                   3       18
#42 



10/17/2007 IMF says dollar 'overvalued'
The Fund thinks that the US current account deficit will remain close to 1.5 per cent of world output until 2012, raising the likelihood of a disorderly plunge in the dollar and protectionism growing over the next few years
(Financial Times)
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posted: 5/14/09                   2       22
#43 



9/18/2007 Alan Greenspan predicts falling house prices, rising inflation
He predicted that the Bank of England would struggle to keep the consumer prices index within one percentage point of the government's 2% target
(London Guardian)
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posted: 5/14/09                   2       24
#44 



9/18/2007 Alan Greenspan warns dollar to fall victim to current account deficit
predicts that within only a few years the world will undergo a huge spike in prices
(London Telegraph)
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posted: 5/14/09                   2       24
#45 



9/18/2007 Alan Greenspan warns of UK house prices drop
He warns of "difficulties" ahead for UK home owners, as rising interest rates bring house price growth to a shuddering halt
(London Telegraph)
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posted: 5/14/09                   2       25
#46 



9/17/2007 Alan Greenspan: Euro Gains As Reserve Choice
it is possible that the euro could replace the U.S. dollar as the reserve currency of choice.
(Associated Press)
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posted: 5/14/09                   1       24
#47 



9/17/2007 Euro could replace dollar as top currency-Greenspan
Greenspan told weekly Stern it was "absolutely conceivable that the euro will replace the dollar as reserve currency, or will be traded as an equally important reserve currency"
(Reuters)
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posted: 5/14/09                   2       27
#48 



8/10/2007 China threatens 'nuclear option' of dollar sales
The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation
(London Telegraph)
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posted: 5/14/09                   2       22
#49 



6/25/2007 Bank of International Settlements: Credit Boom May Spark Depression
The Bank of International Settlements (BIS) is warning that the global economy could be on the brink of a major depression similar to the one that passed in the 1930s. The BIS said that years of loose monetary policy have fueled a dangerous credit bubble leaving the global economy more vulnerable to an economic catastrophe than is generally understood. In its 77th Annual Report for the financial year April 1, 2006-March 31, 2007 that was submitted to the BIS' annual general meeting held in Basel on June 24, the BIS

which one source described as "the ultimate bank of central bankers"

noted that the Great Depression that began in 1929 caught many off guard and unprepared. "Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and southeast Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a 'new era' had arrived", said the bank.
(NewsMax)
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posted: 11/28/10                   0       1
#50 
keywords: Alan Greenspan, Asia, Bank Of International Settlements, China, Dollar, Federal Reserve, Great Depression, Japan, Tokyo, United States, Wen Jiabao Add New Keyword To Link




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