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Trade-Exchange Rates

  • Recession, Energy Worries Turn Americans Gloomier, Poll Finds
    5 December 2007 par (Open-Publishing)
    4 comments

    By Matthew Benjamin
    Dec. 5 (Bloomberg) — Confidence in the economy continues to erode, with expectations of a recession growing and a solid majority of Americans now saying the economy is doing poorly, according to a Bloomberg/Los Angeles Times survey.
    The growing pessimism is being driven by higher energy costs, the weakening dollar and fallout from the subprime mortgage crisis. To stem foreclosures, most Americans want the government to require lenders to freeze interest rates on (…)

  • Friendless dollar is turned away at the gates of the Taj Mahal
    30 November 2007 par (Open-Publishing)

    Friendless dollar is turned away at the gates of the Taj Mahal
    Ashling O’Connor in Bombay – The Times November 20, 2007
    The Taj Mahal and other top tourist sites in India are refusing to accept dollars to pay for admission, dealing another blow to the prestige of the weakened American currency.
    Entry tickets to the world famous Mughal tomb in Agra and about 120 sites run by the Archaeological Survey of India will be available only at a fixed rupee rate after the dollar lost more than (…)

  • Europe Suspends Mortgage Bond Trading Between Banks
    22 November 2007 par (Open-Publishing)
    3 comments

    Europe Suspends Mortgage Bond Trading Between Banks
    By Esteban Duarte and Steve Rothwell
    Nov. 21 (Bloomberg) — European banks agreed to suspend trading in the $2.8 trillion market for mortgage debt known as covered bonds to halt a slump that has closed the region’s main source of financing for home lenders.
    The European Covered Bond Council, an industry group that represents securities firms and borrowers, recommended banks withdraw from trades for the first time in its three-year (…)

  • Swiss Re Has $1.07 Billion Credit-Default Swaps Loss
    19 November 2007 par (Open-Publishing)
    2 comments

    Swiss Re Has $1.07 Billion Credit-Default Swaps Loss
    By Warren Giles
    Nov. 19 (Bloomberg) — Swiss Reinsurance Co., the world’s biggest reinsurer, lost 1.2 billion-Swiss francs ($1.07 billion) on derivatives in October after the U.S. subprime mortgage crash roiled debt markets.
    Swiss Re fell the most in more than 4 1/2 years in Zurich trading after the loss, which amounts to 981 million francs after tax. Losses occurred on two credit-default swaps Swiss Re sold to protect clients (…)

  • Federal Reserve begins war on local currencies: Banking institutions try to maintain their strangleh
    18 November 2007 par (Open-Publishing)

    “The first community-currency system was born in Canada in 1983. Since then the concept has spread to more than 2,000 communities across North America, South and Central America, Europe, Africa and Asia. The mechanics of these systems change to reflect individual circumstances. But the basic concept of an interest-free, community-controlled exchange medium has remained the same.”
    Using local currency can “stimulate the local economy by giving people incentive to shop in their own (…)

  • OPEC leaders may discuss creation of currency basket to price crude
    17 November 2007 par (Open-Publishing)

    OPEC leaders may discuss creation of currency basket to price crude
    The Associated Press Friday, November 16, 2007 RIYADH, Saudi Arabia: Leaders of the Organization of Petroleum Exporting Countries meeting this weekend in the Saudi capital are likely to discuss the possibility of creating a currency basket to price their crude, Venezuela’s oil minister said Friday.
    Rafael Ramirez, the minister, said the issue will come up at a closed session in the two-day OPEC summit, Dow Jones (…)

  • First Banks now Media Companies emerging in widening US financial meltdown (video)
    16 November 2007 par (Open-Publishing)

    First it was the banks that were hiding subprime loans, now attention is about to focus on the media companies that were funded by those same banks.
    – http://www.youtube.com/watch?v=RjGb...

  • Ron Paul, The Federal Reserve, JFK and M3: Devaluing Americans into Bankruptcy
    13 November 2007 par (Open-Publishing)

    The Comptroller General of the United States, formerly known as the General Accounting Office, which is “a legislative branch agency founded by Congress in 1921 to ensure the accountability of the federal government”, in their latest audit of the federal debt have revealed that “deficit spending and promised benefits for federal entitlement programs have put every man, woman, and child in the United States on the hook for $175,000”. This is exclusive of the personal debt that each person (…)

  • RALPH NADER: The Price of OIL
    12 November 2007 par (Open-Publishing)
    2 comments

    Nader.org Published on November 05, 2007
    Question of the day- who and what is determining the price of oil and your gasoline and home heating bills? Don’t ask Uncle Sam, because George W. Bush and Dick Cheney are running a regime marinated in oil that does not issue reports which explain the real determinants of petroleum pricing beyond the conventional supply-demand curves.
    Columbia University 09/04 Photo : Joëlle Pénochet
    First, let us create a historical framework to provide some (…)

  • Bush Stumbles Bernacke Mumbles and Aqua Dots Crumble
    9 November 2007 par (Open-Publishing)

    Bush Stumbles Bernacke Mumbles and Aqua Dots Crumble By David Glenn Cox
    This week has been a wild ride on Wall Street. On Wednesday, Wall Street struggled with bad news, lots of bad news. GM lost 39 Billion dollars in the third quarter and the Chinese economics minister in a prepared speech before the peoples party Congress stated that the Chinese would seek strong currencies over weaker ones to invest in. The announcement pushed an already slumping dollar into a free falling dollar. As (…)