GG was the first of more than a dozen readers to mention this article by Robert Fisk (an outspokenly leftist journal list, so take it with a grain of salt.): The demise of the dollar; In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading [1].
Given the import of the preceding (if it is true), is it any wonder that the USDI is tanking [2], and the future and spot prices of precious metals [3] are going through the roof? You’ve had plenty of warning and investment encouragement from your editor. Eight years worth, in fact. (I called the bottom, back in 2001 [4].)
Greg F. suggested this: Is The FDIC Killing Short Sales? [5]
Banks brace for Latvia’s collapse; The Baltic states are once again in the eye of the storm after leaked reports that Sweden is bracing for a full-blown economic and political “breakdown” in Latvia [6]. (Thanks to GG for the link.)
Items from The Economatrix:
Most Economically Stressed US States [7]
Treasury to Say Three More Funds to Buy Toxic Assets [8]
HSBC Chief Fears Second Downturn [9]
Roubini: Markets Have Gone Up Much Too Fast [10]
Fiscal Storm in Caymans Set to Spread [11]
Will California Become America’s First Failed State? [12]
Dollar Doldrums
Wall Street Faces Day of Reckoning Over Bear Stearns
US Unemployment Shows Downside of Short-Termist Stimulus Policies [13]
East Taking Over from West in Irreversible Economic Power Shift
Treasury Yields Drop to Lowest Since May as Recovery Falters [14]