Societe Generale tells clients how to prepare for potential ‘global collapse’
Posted by Xander in Headlines on 19. Nov, 2009 | No Comments
Ambrose Evans-Pritchard
Telegraph.co.uk
November 19, 2009
In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.
Overall debt is still far too high [...]
Reservations about the dollar
Posted by Xander in Headlines on 06. Jul, 2009 | No Comments
David Woo
Financial Times
July 6, 2009
Speculation is high that currency issues will be discussed at the Group of Eight leaders’ meeting in L’Aquila this week. China has called for reform of the global reserve system and creation of a new international reserve currency based on special drawing rights (SDRs). Although the Chinese deputy foreign minister suggested [...]
India Joins Russia, China in Questioning U.S. Dollar Dominance
Posted by Xander in Headlines on 03. Jul, 2009 | No Comments
Mark Deen and Isabelle Mas
Bloomberg
July 3, 2009
Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars.
“The major part of Indian reserves are in dollars — that is something that’s a problem for us,” Tendulkar, chairman of the [...]
Outlook For the U.S. Dollar Darkens
Posted by Xander in Headlines on 02. Jul, 2009 | No Comments
Adam Smith
Time
July 2, 2009
Heading abroad from the U.S. this summer? Consider packing a few extra dollars. Since early March, the greenback has fallen 11% against the euro and 17% against Britain’s pound, as investors who had sought out the dollar as a safe haven during the worst of the crisis now head for riskier assets. [...]
Top Chinese Banker says United States government should start issuing bonds in yuan, rather than dollars
Posted by Xander in Headlines on 08. Jun, 2009 | No Comments
Malcolm Moore
Telegraph.co.uk
June 8, 2009
Guo Shuqing, the chairman of state-controlled China Construction Bank (CCB), also said he is exploring the possibility of issuing loans to trading companies in yuan, allowing Chinese and foreign companies to settle their bills in yuan rather than in dollars.
Mr Guo said the [...]
What’s Killing the U.S. Dollar
Posted by Xander in Headlines on 07. Jun, 2009 | No Comments
Cliff Wachtel
Seeking Alpha
June 7, 2009
While recent news on the US economy, especially the non-farms payroll data, as been positive (OK, more like less negative than expected), in the past weeks, a number of powerful long term market trends have continued in currency and commodities markets and should continue over the coming months, albeit with the [...]