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.
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From the category archives:
Currency Wars
by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, ISRAEL Since World War II, the United States Dollar has been considered the world’s reserve currency, i.e. the money held by foreign banks to back up their own currency. However, a number of recent events have caused some analysts to begin questioning whether that dominance will [...]
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(NewsMax) – 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. In written answers to questions [...]
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By Alen Mattich | WallStreetJournal.com August 23, 2010, 1:26 PM GMT Could the Federal Reserve’s decision to restart its quantitative easing program trigger a dollar collapse? That’s what John Hussman, a fund manager, argues in his latest weekly note to investors. And the case he makes is strong… as long as one ignores the fact [...]
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ConnectMidMichigan.com by Dan Armstrong Posted: 07.12.2010 at 8:13 PM New types of money are popping up across Mid-Michigan and supporters say, it’s not counterfeit, but rather a competing currency. 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. [...]
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REUTERS 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 [...]
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By Catherine Belton, Charles Clover and Courtney Weaver in St Petersburg Published: June 18 2010 12:11 | Last updated: June 18 2010 12:11 Dmitry Medvedev, the Russian president, said Moscow was bidding to help lead efforts to build a new world economic order after the old system collapsed in the global financial crisis. Opening Russia’s [...]
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By ROB GILLIES (AP) – 16 hours ago TORONTO — 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 [...]
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By Paul Abelsky and Maria Levitov June 16 (Bloomberg) — 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. “Adding the Australian dollar is being discussed,” Alexei Ulyukayev, the central bank’s first deputy chairman, said in an interview at an [...]
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By Agence France-Presse, Updated: 6/15/2010 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. The cash-rich Chinese government raised its US Treasury bond holdings to 900.2 billion dollars in April, its highest level [...]
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By Jason Groves | Daily Mail UK Last updated at 8:24 AM on 15th June 2010 EU begin emergency billion-pound bailout of Spain Countries in debt may fall to dictators, EC chief warns ‘Apocalyptic’ vision as some states run out of money Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken [...]
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By: Antonia Oprita Web Producer, CNBC.com 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. Rogers’ long-term bet is on commodities, as he predicts that governments will keep printing money to get out of their [...]
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Reuters | 02 Jun 2010 | 03:59 AM ET 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. Official sources in Brazil, India, Russia, Japan and South Korea told Reuters in separate interviews [...]
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WASHINGTON (MarketWatch) — 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 [...]
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