By Bill Bonner
02/19/10 Paris, France – Oil edged up towards $80 a barrel yesterday. And the latest numbers for producer prices showed more inflation than was expected.
Meanwhile, jobless claims were up. And the Dow rose 86 points…
What do investors see that we don’t? A mirage…the shimmering of hot money…money that comes from the feds. And they can’t believe it’s not real. (more…)
Filed under: Bailout Bubble, Bailouts, Bank Failures, Bankruptcies, Banks, Bush, Change, Commercial Real Estate, Commodities, Congress, Credit, Credit Card, Currency, Debt, Deficit, Dollar, Dow Jones, Economics, Economy, Fed, Federal Reserve, Global Economy, Gold, Great Depression, Greatest Depression, Housing, inflation, Interest Rates, Obama, Stimulus, Stock Market, TARP, U.S. Treasury
Not long after the State of the Union address, the Congress voted to substantially worsen that state, delivering a one-two punch directly at the value of the U.S. dollar. (more…)
By Mike Ward
The U.S. Treasury Dept. has officially approved an historic switch. Starting days from now, you’ll be able to exchange regular paper dollars for a more valuable form of money. Experts are calling America’s new legal currency “Gold Dollars.” (more…)
Filed under: Bailouts, Bank Failures, Bankruptcies, Banks, Bernanke, Capitol Hill, Credit, Credit Card, Currency, Debt, Deficit, Depression, Dollar, Economics, Economy, Empire America, Fed, Federal Reserve, inflation, Interest Rates, Stimulus, Stock Market, U.S. Treasury
It’s too late for anyone to pretend that the U.S. government, whether under President Barack Obama or anyone else, can divert our nation from long-term economic decline. The U.S. is increasingly in a state of political, economic, and moral paralysis, caught as it were between the “rock” of protracted recession and the “hard place” of terminal government debt. (more…)
Filed under: Currency, Dollar, Economy, Global Economy, Gold, Silver, U.S. Treasury
Report Suggests Dollar Could Be Replaced, But Officials Deny Any Move in Offing
By MATTHEW JAFFE
Is the dollar’s status as the world’s reserve currency in jeopardy? How are U.S. officials responding? And should the average American be worried? (more…)
By Claire Leow
Aug. 6 (Bloomberg) — U.S. proposals to place curbs on commodities trading will drive business overseas, particularly to Asia, said Jim Rogers, chairman of Rogers Holdings. (more…)
