The Decline of the Dollar, Gold and silver continue to surge, IMF bombshell: Age of America nears end
The Decline of the Dollar
Don’t Like a Weak Dollar? Might as Well Get Used to It
Jeff Cox
CNBC
April 25, 2011
Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.
The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant national currencies.
A combination of factors accounts for the weakness, with the Federal Reserve’s easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.
China should cap forex reserves at 1.3 trillion U.S. dollars: China banker
News.CN
China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.
The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.
China’s foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.
Gold and silver continue to surge
Neil Dennis
Financial Times
Gold hit a record high, while silver surged more than 5 per cent to within a whisker of its all-time peak, as the dollar continued its decline and inflation concerns drove haven flows.
Driven also by government debt concerns, gold rose 1 per cent to $1,518.20 a troy ounce, the seventh-consecutive trading session in which it has hit a record high. Silver surged 5.5 per cent to $49.17 an ounce, having hit a 30-year high of $49.80, within sight of the landmark $50 level.
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IMF bombshell: Age of America nears end
Brett Arends
MarketWatch
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Comment
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Comment by Maria De Wind on April 27, 2011 at 1:31am
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A cheaper dollar should mean more American exports and less foreign imports, it is time to get to work !
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Comment by Cryptocurrency on April 25, 2011 at 9:36pm
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I just read somewhere that silver was considered to be the new gold. Had you invested $100 ten yrs ago in silver or gold, you would have made more investing in silver.
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