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The executive vice president of the Bank of China, a commercial bank run by the government, says that the decision of the US Federal Reserve to create billions of new dollars would make the US currency irrelevant to global trade and finance.
Zhu Min told CNBC that, while the dollar remains the global currency, it can’t [...]

As you can see on Sjeltur.nl – we are really “watching” all the business around the financial crisis… We put a lot of blame towards the banks en all the financial institutes – including Governments…
BUT….. yesterday I was watching some Dutch tv… in which some people where [...]

The opposition of Germany and France against increased government spending “Obama-style” turned out to be just hot air. The leaders of the G20 decided to throw more money at the problems, this time more than $1 trillion.
The leaders tried to show optimism, but a closer look at the results of the summit shows there is [...]

It’s no secret the Chinese are very worried about the US dollar as the world reserve currency. A week ago the governor of the People’s Bank of China said out loud that a new currency reserve system controlled by the International Monetary Fund (IMF) could prove more stable and economically viable.

The reaction of the [...]

When the economic and financial crisis surfaced last year, politicians around the world gave the impression they were surprised this crisis came, and some even claimed that nobody saw it coming… In reality several economists did see it coming, like the people from LEAP 2020, a European thinktank studying global economics and politics. They had [...]

Conformation what we already knew: the Chinese want to abandon the US dollar as the world reserve currency. Zhou Xiaochuan, governor of the People’s Bank of China, said a new currency reserve system controlled by the International Monetary Fund (IMF) could prove more stable and economically viable.
And: “The global economic crisis has revealed the [...]