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The Bank of England surprised all economic estimates today when it revealed that the UK GDP continued to contract in the third quarter. Most analysts were expecting modest growth, and the Bank of England itself had been jawboning the notion that there would be growth. Instead, GDP contracted by 0.4%, which raises questions about other [...]
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N.B., Acknowledging the fact that some Americans probably think Gerald Celente is a nut – those who are familiar with him at all – just as, for many people, Peter Schiff is seen as an extremist or nut – I think that, given their analytic track records – which you have to admit, have been [...]
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Also known simply as a reserve currency, or less frequently, an “anchor currency,” the world reserve currency is more like a vehicle or container – like a 401(k) or RRSP – which can hold a certain currency inside. In other words, there is no essential or necessary world reserve currency. It could be any currency [...]
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China was the first to open the floor for discussion on the continued viability of the US dollar as the world’s reserve currency a couple of months ago. With good reason, since they are now the largest foreign holder of US debt instruments (that’s the paper money the Fed prints out of thin air). Just [...]
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The International Economic Forum of the Americas’ Conference of Montreal was covered this week by BNN’s Amanda Lang, who interviewed the World Bank President (Robert Zoellick), the managing director of the International Monetary Fund (Dominique Strauss-Kahn), former U.S. Secretary of State Madeline Albright and the CEO of General Electric (Jeffrey Immelt).
I’ll provide a brief overview [...]
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We: fellow bloggers, readers, members of the media, financial analysts, and government officials such as Ontario’s Premier Dalton McGuinty. This past Friday (March 27, 2009) Mr. McGuinty was quoted (in response to a possible freezing of the minimum wage in Ontario) as saying
“What’s happening here is big, really big,” said Mr. McGuinty. “We can’t keep [...]
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Here it is, folks. China’s Central Bank officially asking to bump the greenback from the world currency reserve. Yes. It’s for real. So far the EU has rejected the call. But the communique was written, in an unprecedented move, in both Chinese and English so the world community could understand it (or at least, [...]
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