Posts Tagged ‘FOREX’

News and views from around the web posted to the Wonderland Wire:

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News and views from around the web posted to the Wonderland Wire:

(more…)

News and views from around the web posted to the Wonderland Wire:

(more…)

News and views from around the web posted to the Wonderland Wire:

(more…)

News and views from around the web posted to the Wonderland Wire:

(more…)

News and views from around the web posted to the Wonderland Wire:

(more…)

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.

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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.

[picapp src=”e/c/e/7/PM_Putin_visits_1c8f.JPG?adImageId=6149826&imageId=6807371″ width=”500″ height=”407″ /]

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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.

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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’.

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