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Posts by "qiman"
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http://www.vanityfair.com/business/features/2010/06/fracking-in-pennsylvania-201006?currentPage=all
"I was asked the other day how the Spanish should respond to their crisis. "Easy," I said, "so long as they beat Honduras and Chile, they'll be fine." The World Cup is a tricky old thing."
http://www.independent.co.uk/news/business/comment/stephen-king/stephen-king-we-await-the-day-western-nations-opt--to-default-by-stealth-2006251.html
And are we any safer now that the EU has failed to restore full confidence with its 750bn (505bn) "shock and awe" shield, that is to say after throwing everything it can credibly muster under the political constraints of monetary union? This is the deep angst that lies behind last week's surge in gold to an all-time high of $1,258 an ounce.
The World Gold Council said on Friday that the central banks of Russia, the Philippines, Kazakhstan and Venezuela have been buying gold, and Saudi Arabias monetary authority has "restated" its reserves upwards from 143m to 323m tonnes. If there is any theme to the bullion rush, it is fear that the global currency system is unravelling. Or, put another way, gold itself is reclaiming its historic role as the ultimate safe haven and benchmark currency.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7841961/Gold-reclaims-its-currency-status-as-the-global-system-unravels.html
Nobel-Prize Winner Mundell Signals Yuan Move Will Erode Economic Stability
Robert Mundell, the Nobel Prize- winning economist, signaled that Chinas pledge to return to a more flexible exchange-rate policy may erode stability in the global and Chinese economies.
Keeping the yuan pegged to the dollar has been a great source of stability for China and the world, the Columbia University professor told reporters in Hong Kong today. While U.S. President Barack Obama welcomed the move, he is not an economist, Mundell said.
Mundell, credited as the intellectual father of the euro, has previously called for the European currency to be fixed against the dollar, saying exchange-rate swings were a cause of the global financial crisis.
http://www.bloomberg.com/news/2010-06-21/nobel-prize-winner-mundell-signals-yuan-shift-may-erode-economic-stability.html