News on the U.S dollar
By Daniel at 30 September, 2009, 9:32 am
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
1) Peter Schiff thinks FDIC bailout could require well over $1 Trillion. Listen
at 1 minute 15 seconds into this.
On the 25th he explained carry trades.
2) SEOUL - The president of the Asian Development Bank (ADB) has called for an “Asia-common” currency as another international reserve currency
3) Now even Nigeria talks about an African reserve currency
“Mr. Oyekan also said the South African rand stood a better chance of becoming the reserve currency for the continent. “The South African rand is a more stable currency than naira. Yes, South Africa is struggling with social inequality in a broad sense, (but) the rand would play a better role in that regard.”
Chris Vermont, one of the panelists, argued that, before pushing the naira as a reserve currency, there was the need to ‘de-dollarise’ the Nigerian economy.”
4) Why did we have that small recovery in the dollar yesterday?
“One of the large forex trading rooms said foreign banks were buying dollars yesterday morning, as was one large Israeli bank”
saxplayer
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.