News and views from around the web posted to the Wonderland Wire:
Posts Tagged ‘FOREX’
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India’s run on the U.S. dollar to buy 200 tonnes of gold from the 403.3 set to be sold by the International Monetary Fund set the precious metal to an all-time high value of $1,081+, meaning the inflated dollar has crashed to an all-time low as the U.N. reports a drop in U.S. wages.
Tags: banking, China, corporatism, dollar hegemony, economy, fascism, fiat money, FOREX, Iran, law, liberty, market-anarchism, Newspeak, oil trade, petrodollar, renminbi, Robert Fisk, rouble, Russia, US, US dollar, Vladimir Putin, Washington's Blog, yuan
Russia’s prime minister says it and China ‘is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings’, Ria Novosti reports.
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Tags: Anchalee Worrachate, banking, central banking, China, Christoph Kind, corporatism, dollar hegemony, economics, economy, euros, Federal Reserve, fiat money, foreign exchange, FOREX, GCC, Gerard Lyons, global economic crisis, gold, gold futures, Gulf Cooperation Council, Japan, libertarian, liberty, market-anarchism, Moming Zhou, monetary policy, Newspeak, oil, OPEC, Robert Fisk, US, US dollar, Ye Xie, yen, yuan
This morning, gold hit a new high nearing $1,070/oz. showing the U.S. dollar ‘reaching a breaking point’ as it hits another new 14-month low.
Tags: Ahmadinejad, dollar hegemony, economy, EU, euros, fascism, foreign exchange, FOREX, international banking, Iran, Iranian Oil Bourse, Iranian rial, Iraq War, OPEC, petrodollar warfare, Saddam Hussein, US, US dollar
Iran’s decision to abandon the U.S. dollar from its foreign exchange accounts comes less than 20 months after opening the Iranian Oil Bourse–a commodity exchange devoid of U.S. dollars. Early December 2007, Iran announced that “nearly all” of the world’s 4th largest crude producer’s oil transactions were now being paid in non-U.S. currencies, which President Mahmoud Ahmadinejad has adequately called a “worthless piece of paper”. It was the first oil producer since Iraq under Saddam Hussein to do so. Months later, the U.S. invaded Iraq and overthrew that ‘rogue’.