Posts Tagged ‘US dollar’

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

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Gold is skyrocketing this week.

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via the London Telegraph: “The head of China’s central bank has given the strongest signal yet that the country will move away from pegging its currency to the dollar, but he said any changes would be gradual.”

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Peter Schiff, president of Euro Pacific Capital and 2010 candidate for senator in Connecticut, on U.S. international dependency and challenges Federal Reserve Vice Chairman Alan Blinder to name something his boss has done right. Funny. (4:15):

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Tuesday, gold hit $1,199.30/oz. as Japan moves toward metals, away from being a tit of the U.S. The record high of gold’s value displays the record low of the U.S. dollar.

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The second episode of Max Keiser’s new show on Russia Today: “‘Keiser Report’ is a no holds barred look at the shocking scandals behind the global financial headlines. From the collusion between Wall Street and Capitol Hill to the latest banking crime wave, from bogus government economic statistics to rigged stock markets, nothing escapes the eye of Max Keiser, a former stockbroker, inventor of the virtual specialist technology and co-founder of the Hollywood Stock Exchange. With the help of Keiser’s co-host, Stacy Herbert, and guests from around the world, ‘Keiser Report’ tells you what is really going on in the global economy.” – 26 Nov 09 (26:19):

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Max Keiser, in the premier of his new show on Russia Today, comments on the U.S. funding the Taliban, President Barack Obama’s Asian tour proving U.S. economic desperation, global ‘de-dollarization’ and (of course) Wall Street crooks with Danny Schechter (27:03):

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On ABC’s “This Week with George Stephanopolous”, George Will of The Washington Post points to India’s recent run on the dollar as an indicator for a coming fall in the subjective greenback in favor of “other better stores of value”. Veteran White House correspondent for ABC, Sam Donaldson, says if that’s the case, “then, we’d better throw Ben Bernanke and the Fed out… Let’s get rid of them now before they do further damage.” (2:13):

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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.

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Leaders of nine Latin American countries approved the usage of an intra-regional currency called the “Sucre”.

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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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Weeks after Iran officially announced it would replace the U.S. dollar—its value heavily dependent on Middle East oil trading—with euros in its foreign exchange holdings, The Independent Middle East correspondent Robert Fisk’s article, “The Demise of the Dollar,” breaks the story that: “In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the U.S. currency for oil trading” by 2018. I wrote of the alliance between Brazil, Russia, India and China (BRIC) here in June.

Russia Today (RT) reports on Mr. Fisk’s exclusive (3:25):

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At the heavily protested World Bank-International Monetary Fund (I.M.F.)  meetings with global finance oligarchs, a U.N. undersecretary-general suggests special drawing rights (SDRs) from the I.M.F. as a world currency. Such a policy would turn the I.M.F. into the global central bank.

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Rep. Ron Paul (R-TX) takes questions on the Federal [sic] Reserve, fiat money and U.S. imperialism in the wake of his most recent book, End the Fed, on al Jazeera’s (AJE) “The Riz Khan Show” (22:25):

Part One (10:55):

Part Two (11:30):

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