The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at a “high risk” of requiring an international bail-out. Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt […]
By: Forrest Jones The United States has piled on so much debt that world is going to abandon the dollar, says Jim Grant, founder and editor of “Grant’s Interest Rate Observer.” “By the numbers, we are more encumbered now than we have ever collectively been,” Grant tells the Business Insider. The United States debt has […]
By Rupert Neate– George Soros has warned that a global “currency war” pitting China versus the rest of the world could lead to the collapse of the world economy. Mr Soros, the hedge fund manager best known as the man who broke the Bank of England” after he made a billion betting against the value […]
LOS ANGELES (MarketWatch) — A top Chinese central bank official suggested switching away from the U.S. dollar as a benchmark for the yuan’s foreign-exchange rate, switching instead to a basket of currencies, according to remarks published Thursday. In comments posted to the People’s Bank of China Web site, the central bank’s Deputy Gov. Hu Xiaolian […]
The dollar is on its way out, and the euro is on its way in as the world’s main reserve currency, says David Roche, global strategist at Independent Strategy. The euro will take over because Europe has a more solid fiscal policy than the U.S., he says. “We’ll actually produce a much stronger fiscal balance, […]
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations […]
