In this article, I will introduce the concept of using foreign currencies for savings diversification and will discuss nine currencies that have outperformed the U.S. Dollar.
What would happen if the U.S. Dollar were suddenly dropped as the world’s reserve currency? Here are 7 economic consequences of a dollar collapse.
For decades the dollar has served as the world’s main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here’s why—and what it will mean for international markets and companies.
On the eve of a U.S. visit, Chinese President Hu Jintao made the boldest statement yet on the future of the U.S. dollar as a reserve currency, calling the current global monetary exchange system “a product of the past” while promoting his own country’s currency as a replacement.
Could the Federal Reserve’s decision to restart its quantitative easing program trigger a dollar collapse?
Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender. They sound like real money and look like real money. But you can’t take them to the bank because they’re not made at a government mint. They’re made at private mints.
A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value.
“The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” the U.N. World Economic and Social Survey 2010 said.
Merrill Lynch metals analysts maintain gold will hit a US$1,500 per ounce target by the end of next year as investor demand pushes gold prices higher.
In research published Monday, analysts Michael Widmer, Francisco Blanch, and Alex Tonks are predicting average gold price forecasts of US$1,200/oz this year, $1,350/oz in 2011, and $1,400/oz in 2012, up from $1110/oz, $1179/oz and $1109/oz. respectively.
Gold rose to a record in London and New York as other commodities gained on speculation demand for raw materials will increase and as investors bought the metal to protect wealth from Europe’s financial turbulence.
Gold may climb to a record $1,300 an ounce this year as investment demand shifts from the euro and the dollar, said Bruce Ikemizu at Standard Bank Plc.
Canada thinks it can teach the world a thing or two about dodging financial meltdowns.
The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot and three-quarters of the 400,000 jobs lost during the recession have been recovered.
Foreign banks and investors alike have been flocking to the precious metal over the last year, sending it soaring to record highs.
Russia may add the Australian and Canadian dollars to its international reserves for the first time after fluctuations in the U.S. dollar and euro.
China’s holdings of US debt climbed to the highest level this year, the US Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt.
Nightmare vision for Europe as EU chief warns ‘democracy could disappear’ in Greece, Spain and Portugal
Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.
Everybody is so bearish about the euro that it looks like now is a good time to buy the single European currency, famous investor Jim Rogers told CNBC Thursday.
Gold’s surge to a record sparked speculation that central banks may be stepping up purchases of the precious metal. Tuesday, gold contracts for June delivery rose $4.70, or 0.4%, to $1,244 a troy ounce, a record settlement price on the Comex division of the New York Mercantile Exchange.
AG said today in a report that projects prices will hit $1,500 (U.S.) an ounce in the next 12 months and says anything below $1,200 represents a buying opportunity.
Some of the world’s richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone’s currency, government sources said.
Thomas Hoenig, the president of the Kansas City Federal Reserve bank, laid out on Thursday his proposed plan to take short-term interest rates from near-zero to 4.5%. In a speech in Bartlesville, Okla., Hoenig said the country pays a high cost for low interest rates, suggesting that the financial crisis stemmed from the very low interest rates of 2002-2005.