Tuesday, September 8, 2009
Gold returns back above $1,000.............
The move could be seen as a sign that investors believe the worst of the global recession is over and are worried about inflation. Others who are less convinced about the strength of the recovery are moving into gold, which is usually sought as a haven from economic turmoil. Gold - seen as an attractive investment in times of inflation - has risen 13.6% in value this year...Link
America and Its Deficits.......................
It was one of Dick Cheney's more memorable lines. "Deficits don't matter," he told Treasury Secretary Paul O'Neill in 2002. Later, after O'Neill made the conversation public, Cheney elaborated that he meant this "in a political context," not an economic one. But for most of Cheney's time as Vice President, the claim held up pretty well in both contexts. Over O'Neill's objections — he'd be gone soon anyway — the Bush Administration and Congress abandoned a bipartisan commitment to fiscal prudence that had held sway since the early 1990s and went back to running chronic deficits. The result was a growing economy and a second term for George W. Bush...Link
Monday, September 7, 2009
New global currency.............
The United Nations Conference on Trade and Development said in a report published Monday that the U.S. dollar should be replaced as the world’s standard reserve currency, giving rise to a new global currency managed by an as-yet undetermined financial regulatory organization. Heiner Flassbeck, director of the conference, told Bloomberg News that changes needed in the world’s financial systems rival the scope of the Bretton Woods or European Monetary System agreements...Link
Moving away from dollar....
The Chinese are becoming increasingly wary of the growing supply of U.S. dollars, leading the head of the nation’s green energy initiatives to signal a move away from dollar reserves and toward, gold, euros and yen, according to a published report...Link
10 Questions........
The Texas Congressman has run for President twice: once as a Republican and once as a Libertarian. In his three decades in public office, he has campaigned tirelessly for the principles of limited government, low taxes and free markets. His latest book, End the Fed, which continues his quest to shut down the Federal Reserve and return to the gold standard, goes on sale Sept. 16. Submit your questions for Ron Paul below, then read the interview in an upcoming issue of TIME magazine...Link
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