Search Results for: dollar

How long will the dollar remain the world’s reserve currency?

We frequently hear the financial press refer to the U.S. dollar as the “world’s reserve currency,” implying that our dollar will always retain its value in an ever shifting world economy.  But this is a dangerous and mistaken assumption. Since August 15, 1971, when President Nixon closed the gold window …

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Dollar to collapse, gold will “go to infinity” – Ron Paul

Gold infinity dollar collapse

Former congressman says that precious metals will literally become priceless. Appearing on CNBC yesterday, former Congressman Ron Paul warned that if the US continues on its current course, the dollar will collapse, and gold will literally be priceless. “Eventually, if we’re not carefully, it will go to infinity, because the …

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US dollar continues to lose influence around the world

US dollar losing influence around world

From Filip Karinja, for Birch Gold Group For centuries, global reserve currencies have proven to have a shelf life of around 80 years. Us humans, living our relatively short lives, tend to overlook long-term trends. With the U.S. dollar acting as global reserve currency since the Bretton Woods conference following World War II, …

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China is almost ready to replace the US dollar

Chinese Yuan world reserve currency

From Filip Karinja As the US dollar’s reign as global reserve currency appears to be ending, are we seeing the beginning of a new dawn in the east? Throughout history, global reserve currencies have proven to last for only so long. Before the United States’ currency reigned supreme, the currencies of …

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Russia and China planning to dump the US dollar

Chinese Yuan

The Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “The draft document between the Central Bank of Russia and the People’s Bank of China on …

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Obama to pay US debt with trillion-dollar coins?

Trillion dollar coin debt

With the fiscal cliff averted for now, it’ll be a few weeks until the debt ceiling debate is the next major money issue in Washington. Luckily, some economists say that crisis can be curbed as well, and all it will take is one very valuable coin. By February, the United …

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Ecuador to replace the US dollar with its own digital currency

Ecuador Central Bank

Ecuador is planning to create the world’s first digital currency issued by the country’s central bank, in what is seen by many as a step to abandon the US dollar, the currency now used by the Central American country. The currency is expected to start circulating in December, according to …

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Putin drafts bill to dump the dollar and euro

Putin Russia

Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries. This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union. “This would help …

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Petrodollar exports negative in 2014, first time in 18 years

Petrodollar

Two years ago, in hushed tones at first, then ever louder, the financial world began discussing that which shall never be discussed in polite company – the end of the system that according to many has framed and facilitated the US Dollar‘s reserve currency status. The Petrodollar, or the world …

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Our collapsing economy and currency

USD money

Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used. The fiscal cliff is the result of the inability to close the federal …

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Dollar collapse: 7 of 10 Asian countries turn to yuan

USD Dollar Yuan money

A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China’s successful bid to internationalize its currency, a research report has said. The Peterson Institute for International Economics, or …

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Dollar no longer primary oil currency as China begins to sell oil using Yuan

oil pump man

On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970’s, when Henry Kissinger forged a trade agreement with the Royal house of …

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Dollar Value Rises As Trump Readies Additional Tariffs for China

The value of US dollar in the Forex market shot up significantly on Friday last week following Trump’s reported move to direct aides to proceed with imposing tariffs on China. This is despite attempts by Treasury Secretary Steven Mnuchin, to restart talks with China on the matter. That led to …

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“Pay me in gold before dollars have no value” says politician

Jerry O'Neil gold

Jerry O’Neil, six-term GOP state representative in Montana, has asked to receive his salary (which at $10.33 per hour is around $1800 per month) in gold or silver. The long-standing legislator was driven to this decision by his constituents’ concerns about the nation’s massive debt-load and fears of our country’s collapse as “only so …

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Venezuela ditches the US dollar and prices its oil in Chinese yuan

Venezuela US dollar oil price Chinese yuan

President of Venezuela, Nicolas Maduro, has made good on his promise to forsake the US dollar and publish their oil prices in yuan, which is the currency of China. This highly controversial move is likened to Venezuela giving the US “the middle finger”. Former Venezuelan leader, Hugo Chavez has threatened …

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Currency war against Iran: Rial drops 20% in one day

The economic war waged against the people of Iran by the United States and the European Union is beginning to show results. “Iran’s rial plunged against the U.S. dollar in open-market trade on Monday, taking its loss in value over the past week to more than a quarter in further …

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Russia could ditch US dollar in 2-3 years

Andrey Kostin Russia

Two to three years would be enough time for Russia to switch to international settlements to the ruble, Andrey Kostin, head of Russia’s second-biggest bank VTB, said. “Two to three years is enough, not only to launch [settlements in rubles], but also to complete these mechanisms. But much will depend …

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Aristotle and the definition of money

Aristotle

There are countless tips on how to make money. This article is not about that. Rather, we examine the definition of money, what makes good money, and how some bad monies stay bad while others have become acceptable through new ideas and technology. In the end we will talk about …

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