The Sucre will act as a payment compensation mechanism and allow ALBA nations in Latin America to reconcile accounts when they carry out commercial transactions in local currency.
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It looks like the plan the U.S. wants to pursue is to continue to discourage foreign investment, punch our bankers (the Chinese) in the nose, and punish those who are savers by crumbling our currency.
Wall Street may claim the crisis was caused by a perfect storm, but the only thing perfect about it was their ability to line their pockets at the expense of our country.
Nothing will shape domestic life and prosperity in the United States more than the emergence of China as a global economic superpower.
I experienced the rebirth of the hope, excitement and magic of this holiday -- and of all places, where it came together for this resurrection was at the Wafi Mall in Dubai.
The U.S. can settle its debts and get its own house in order, but that would cause world trade to contract. A substitute global reserve currency is needed to fuel the global economy while the U.S. solves its debt problems.
Does Robert Rubin know that his strong dollar policy directly contradicts his fixation with low budget deficits? Either he is ignorant of the fundamentals of economics or he is dishonest.
For a 21st century relationship, this looks increasingly like a 19th century marriage, one of convenience and necessity rather than love and affection.
The BRIC has just held its first summit, and has emerged with a pointed gun aimed at the U.S. dollar.
As long as we continue to substitute spurious growth models for genuine growth policies we will continue to lose global power and influence.
THE 19th century was dominated by the British Empire, the 20th century by the United States. We may now be entering the Asian century, dominated by a ...
In a G2 world (the US and China), he who is the piper calls the tune and China holds a US$2-trillion mortgage on the U.S. and is not happy.
A global currency might be attractive to central banks looking for an alternative to the U.S. dollar, but it won't be an easy adjustment for the U.S., the country that will likely feel the most pain.
The euro could overtake the dollar in global importance in the next five years, a large majority of continental Europeans believe, according to a poll...
Check back weekly for my "In and Out" chart following the most fabulous, ridiculous, and relevant events in the economy....
Expats have a high chance of not getting to fully participate in this election. One million absentee ballots were requested in the 2006 midterm election but only a third of those votes were counted.
For all the talk about the fundamentals of the American worker or $1000 tax rebates for middle class families, the candidates should really square up and talk about weaning America off the debt teat.
Prices have been soaring long enough and fast enough, economists say, that the nation is at risk of a self-reinforcing cycle of inflation like that ex...
As financials struggle, the Fed's interest rate cuts have weakened the dollar even more, which greatly benefits exporters and multinationals. For most, the credit meltdown is only starting.
There is an unusual disconnect between general opinion, policy and reality.
Perhaps Wall Street's ultimate bailout will come when central banks coordinate efforts to save the U.S. dollar.
Are traditional assumptions about the connection between growth and proactive interest rate cuts still valid if monetary policy fails?
In the latest example that the U.S. dollar ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency...
Gold prices rallied on Tuesday after the US Federal Reserve cut interest rates in an emergency meeting in an effort to prop up the weakening US econom...
The Canadian dollar has reached parity with the U.S. dollar for the first time since 1976. They are now equal in value. The euro also soared to its hi...
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