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Today I saw an article about Germany, being the 2nd largest exporter in the world…
I was a bit surprised…., but then realized; they do have Mercedes, BMW, Siemens and a lot more….
Then it hit me……., just before I went on my holiday, the euro went totally down.
First we had the Greek going bankrupt, then the [...]

Today Hu Xiaolan, head of the State Administration of Foreign Exchange (SAFE), said in an interview with Xinhua news agency that China has now a gold reserve of 1,054 tons. This is an increase of 454 tons since 2003.
It’s no secret the Chinese are very worried about the US dollar as the world reserve currency, [...]

President Obama thinks explosive government spending will save the US economy. You have to give him credit for being positive, this year the federal deficit will be $1.85 trillion, but Obama thinks the defict will shrink to “just” $533 billion by 2013. Obama is also very positive about the growth of the economy in the [...]

The mainstream media is full of it lately: recovery. The media jumps on everyone that says something about it, we heard Federal Reserve boss Ben Bernanke say: “the sharp decline in economic activity may be slowing”, and also: “the foundations of our economy are strong”. President Obama said earlier this week: “from where we [...]

For years now the US is spending way more than it earns. The enormous trade deficit (more imports than exports) of the US is the silent witness here. In 1990 the trade deficit was $109 billion, a decade later it was already $436 billion. Despite the economic crisis, the deficit was $800 billion last year, [...]

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 [...]