Top Eurobank prepares for 'global economic collapse'... Nov 20, 2009
loosetoe, people prefer gold to paper as a store of value and medium of exchange because gold the cannot be inflated at will. The purchasing power of the dollar has lost 93% of its value since 1913. (The Drudge Report)
Carnage at General Motors Nov 10, 2009
" Declining American leadership over these last decades was obscured by the collapse of the Soviet Union and an early American lead in information technology, Sachs also noted, but there is now no mistaking the shifting of economic power from the United States to China and other rising economic dynamos. 2. According to news reports, America's economic rivals are secret (and not-so-secret) meetings to explore a diminished role for the U.S. dollar -- fast losing its value -- in international... (Salon)
Where The CIA Got It Wrong About The U.S. Oct 27, 2009
Until now, the use of the dollar as the international medium of exchange has given the United States a significant economic advantage: it can simply print dollars to meet its international obligations while other nations must convert their own currencies into dollars, often incurring significant added costs. Now, however, many major trading countries -- among them China, Russia, Japan, Brazil, and the Persian Gulf oil countries -- are considering the use of the Euro, or a "basket" of currencies,... (CBS News -- Opinion)
China may push for yuan at Asean Oct 24, 2009
BEIJING: China is set to use the Asean meet to sell the idea of making the yuan an in 00004000 ternational currency. It is using the sense of uncertainty over the US dollar to sell a new dream of enlarged regional trade, financial support from Beijing and reduced dependence on the volatile dollar. (India Times)
Weak dollar raises talk of alternative world currency Oct 22, 2009
Foreign bankers talk of promoting an alternative global currency, such as the euro, yuan or a new synthetic medium of exchange cooked up by the ... For now, the dollar's fundamental standing remains what it's been for decades: a convenient medium of exchange for buyers and sellers around the world. (USA Today -- Money)
Money manager's insights Oct 11, 2009
But it points to a changing view of the dollar being the global medium of exchange. At the margin, you will likely see some other currencies increase (in importance). (San Francisco Chronicle -- Business)
Gold hits all-time high Oct 7, 2009
Spina was quoted by MarketWatch as saying that trading gold and other currencies in exchange for oil would "establish gold as a recognised medium of exchange, returning it a step closer to its role as money on a world trade system.". HSBC analyst James Steel was quoted by Dow Jones Newswire as saying a constant feature of the gold rally had been persistent dollar weakness, accompanied by occasional questioning of the dollar's status as the world's reserve currency. (iAfrica.com)
IMF beats gold-auction drum Oct 2, 2009
He wrote: "If fiat money falters, we may have to go back to oxen as our medium of exchange. In that event, I trust, the Federal Reserve will have an adequate inventory of oxen." [1. My article was designed to reassure Mr Greenspan that the supply of oxen at the Fed was very secure indeed, in no small measure due to his stewardship. (Asia Times Online)
Gold Tells You U.S. Bubble Hasn't Popped Yet Oct 1, 2009
Historically, governments have taken action to prevent currency flight when the owners of a severely overvalued medium of exchange start selling so much that it adds to the pressure on its price. They make private purchases of gold illegal, or tax the exchange of currency. (Bloomberg -- Columnists)
How China's Yuan Can Become a Global Currency Sep 16, 2009
To gain international stature, there must be strong demand by world traders, investors, and central bankers for the currency as a medium of exchange for foreign trade settlement, a unit of account for denominating international financial transactions, and a store of value for central banks' foreign exchange reserves. Economists generally agree there are three pillars for the internationalization of a currency: the size of the country's economy and its trade volume; the breadth, depth, and... (BusinessWeek)
Integrity deficit has its price Aug 20, 2009
A controversy exists relating to whether money is a commodity, a medium of exchange, a store of value or a unit of deferred payment with something of specific prescribed value. The fact is that money can be all of the above mentioned, but in varying degrees, depending of the legal-political regime. (Asia Times Online)
Johan shuts down Reds to lift Mets Jul 12, 2009
Schneider and Ryan Church, the medium of exchange that brought Francoeur from the Braves, are best friends -- still. "But I'm going to text him, and that's what I'm going to tell him," Schneider said. (MLB.com -- NY Mets Mets)
Letters Jul 5, 2009
" Wow, makes the Bible, the New Testament, the Declaration of Independence, the US Constitution, the Gettysburg Address, or the speech given by General Douglas MacArthur on the battleship Missouri at the end of World War II seem nanoscale in comparison. I think even the mindless buffoon Homer Simpson could have babbled out a better response. Yet, no account on how nary a peep is protested as Lord Obama and his Obots are trying to bring the Marxist/Leninist/Stalinist/Maoist utopian socialist... (Asia Times Online)
Tea Time - Part 2 (94) Jun 17, 2009
cedarchopper wrote on Jun 16, 2009 10:23 PM:" While the organizers stated intentions were valid and important political and economic issues, the thrust of the Tea Party message was hostility toward Obama, which included racial and religious bashing (as much as I personally dislike Obama, I also feel the same way toward Bush/Cheney and the one party two headed hydra that pretends to be in opposition).The root of our problems is never addressed...usury and debt as the legally enforced medium of... (Boerne Star, TX)
Judging the Judges May 12, 2009
Janet Murguia, President of La Raza (a Hispanic-American interest group), as much: "There are high expectations because of the turnout we saw in the Latino community. I think [picking a Hispanic] would go a long way to helping the Latino community feel they were recognized in terms of that support." Supreme Court Justices ought not to be used as a medium of exchange to purchase the votes of special interest groups. The proper criteria for choosing a Supreme Court Justice are largely ignored by... (Townhall.com)
US economic crisis: Is the dollar history? May 9, 2009
Any currency, domestic or international, 00004000 must satisfy three criteria: it must serve as a unit of account, medium of exchange and a store of value ... Since the demand was mainly for US commodities, it was natural that the dollar would best serve as the medium of exchange in international transactions ... But, as we have noted, the SDR could never become a real currency as it could not serve as a medium of exchange: barring IMF quota transactions, all other world transactions were... (India Times)
WEEKS: Some thoughts on our full faith and credit May 7, 2009
Or is money, indeed, the very life-blood of our system, our public medium of exchange, which, if the system is healthy needs to flow, unimpeded, rightly regulated throughout the body-social. Congress. (Concord Journal, MA)
AnswerDesk: Onecurrency? Apr 7, 2009
And they have legitimate reason to float the idea of replacing the dollar as the reserve currency the medium of exchange used for the majority of financial transactions around the world. advertisement. (MSNBC -- Business)
Answer Desk: One world currency? Apr 6, 2009
And they have legitimate reason to float the idea of replacing the dollar as the reserve currency the medium of exchange used for the majority of financial transactions around the world. As the holder of some $2 trillion in dollar-demonstrated savings the Chinese government has reason to be concerned about the long-term strength of the dollar. (MSNBC -- Business)
Is the Dollar Doomed? Apr 6, 2009
The dollar is a universal medium of exchange, because it is liquid, readily available, and backed by the largest economy in the world. There has been little reason for global commerce to function any other way. (Time.com)
China Takes a Small Step Away from the Dollar Apr 6, 2009
While some Washington officials rejected the proposal as impractical, China's leaders have been taking steps to show just how nervous they are about a weaker dollar as the U.S. runs up massive deficits to shore up its crumbling economy and financial system: in the last two weeks, China signed multibillion-dollar currency "swap" agreements with Indonesia and Argentina that effectively allow Beijing's two trading partners to bypass the dollar as a medium of exchange. The deals followed similar... (Time.com)
The Origins and Evolution of Money ... Apr 5, 2009
As a medium of exchange, money has evolved from very rudimentary objects since ancient times, to the complex and ultra-modern electronic transfer systems of today s economy. Africa has always been part of this history. (Suite101.com)
UNCOMMON SENSE: Knowing the life-blood of our nation Apr 4, 2009
Champion of the common man, Lincoln realized that in an economy that has evolved beyond the barter stage (negotiating your ox for my needles), money, as a medium of exchange, allows us to enter more readily into exchange, commerce with one another, to give, indeed, of our gifts, talents, abilities, our labors and receive from others the same ... He understood that absent such a ready medium of exchange, none of the above becomes possible; our dream becomes weary, numbed, the dawning nightmare... (Concord Journal, MA)
Another meeting just to keep what is undone not done Apr 1, 2009
US managers failed to exercise due prudence, and the central role of the dollar as international medium of exchange sprang the global contagion. The East Asian financial crisis a decade ago began in Asia and was largely contained within the region, but not this time. (The Star Online, Malaysia)
The dollar won't move aside soon Mar 27, 2009
You could say the dollar's "extraordinary" strength can be fully explained only when you take into account that central banks keep piling up huge reserves of the thing and that it is the international medium of exchange for commodities and energy well really for global trade and financial intermediation. The U.S. Treasury secretary, Timothy F. Geithner, said Wednesday that the dollar was still the world's reserve currency and would remain so for a long time, but he expressed openness to greater... (International Herald Tribune -- Business)
PCs vs privacy Mar 15, 2009
The fundamental function of money is to serve as a medium of exchange. A person, who can provide a single skill, like making baskets for example, can earn money by selling them and then exchanging the money for their particular needs. (iAfrica.com)
The stimulus Feb 27, 2009
This will allow the market to divest itself before the inevitable dollar collapse and find a medium of exchange they can trust. They must slash government spending by unprecidented amounts, beginning with the withdrawl of all of our armed forces from the far ends of the earth. (Atlanta Journal-Constitution -- Opinion)
G-7 points to more instability Feb 20, 2009
Moreover, as inflation intensifies, money looses its fundamental role as a medium of exchange and store of value. While the G-7 promises to restore fiscal and money discipline when economic recovery is restored, the path could be drawn-out, full of potholes and uncertainties; prospects for a long stagflation as in the '70s can not be ruled out; restoring monetary and fiscal discipline would still require a recession. (Asia Times Online)
UNCOMMON SENSE: We the people? Feb 20, 2009
Or, is money a dynamic, fluid, public medium of exchange the very life-blood of our system whose essential purpose is to, indeed, facilitate exchange among the citizens of the nation, to allow us to enter into commerce with one another, to give, indeed, of our gifts, talents, abilities, our labors and receive from others the same ... to reasonable access via mortgages, loans, lines of credit and the like to money, our medium of exchange, common wealth, that which is the representation of our... (Concord Journal, MA)
Producer offers quick lesson in Ag Economics 101 (6) Feb 15, 2009
I did learn one thing: Money is just a medium of exchange and a way of keeping score of who owes whom for whatever ... Crooked bankers have been a part of society since the idea of money as a medium of exchange was conceived. (Great Falls Prairie Star, MT)
China takes small steps toward establishing yuan as regional currency Feb 12, 2009
The yuan's journey from a controlled, partially convertible currency to a liquid, regional medium of exchange will be a long one, because of the desire of the Beijing government for economic stability. In addition, Beijing has always been wary of moving too quickly to open up its markets, fearing that such a move might leave its economy vulnerable to sudden shifts in capital. (International Herald Tribune -- Business)
Editor's Mailbag (Feb. 10) Feb 11, 2009
Economists tell us that money serves as a medium of exchange, a store of value and a unit of account. What they don t tell us is that it also serves as a commodity. (Albany Democrat-Herald, OR)
