American vision, Global Finances, Learn, understanding economic events

How will Euro vrs.$Dollar, Gold & Dow end in June?


Where will the Euro, the Dollar, the Dow and gold end up in June?
Will Au(Gold) hit 1400, or the Euro find parity with the Dollar? Will the Dow dip below 900?

  • Au(gold): Many in the gold trade believe that Au will hit US$1300/oz. On Friday June 4 Au closed below 1200 but by late afternoon it was clear how poor the financial markets had performed that Au rallied $20.00 in a short time. Perhaps the traditional competition of Au versus the US$dollar has changed because gold is becoming the safe investment and trade of our time. Debbie Carlson of Kitco.com reports that Mike Daly, gold specialist for PFGBest believes gold has decoupled from other markets: “It’s really become the beast. But gold doesn’t care what other markets are doing. It doesn’t even care what crude oil is doing. The world knows what gold is. It might not know what an S&P is, but they know gold and they want it.” As more investors look into the American economy and realize how weak the economy is because of poor manufacturing base, high unemployment and higher government debt both at federal and local levels, gold will be in more demand. BP’s Deepwater Horizon disaster will end in political controversy inability to reign in BP and more US federal bailout, more debt.  Yes, there are good chances that Au(gold) will hit US$1400/oz. by June 30 2010.

  • Euro/US$: “However, a word a caution, when market analysts and the wider media begin to forecast the collapse of any market or instrument this is the point at which it generally rallies” writes http://www.euro-vs-dollar.com/ on response that a long predicted decline of the Euro to levels below 1.20 can be quickly contradicted when the general media gets a whiff of the now stale scent. What is driving the Euro to levels of near parity with the US$? Looking at screen shot of a chart from Nov-07 to the present we can see the Moving Averages hug the 1.25 to 1.40 zone. The Euro will hit below 1.10 by end of June but will still rebound as it has done before this time to a 1.36 level by end of the year 2010, as long as Germany remains in the Euro zone. France has threatened to leave while Germany wishes to expel Greece and highly indebted countries from the Euro zone but is this a probable situation considering the history of Europe’s banking system. Probably not for long, restructuring is more likely and a painful one. After centuries of quarreling and warring World War II left Europe under the protection of the USA, this artifice freed all these European estates to allocate funds into commerce and industry which before were used to keep up military  campaigns. NO the Euro will not hit 1.00 by end of June more like 1.06 because the Dollar is weak and BP’s oil spill will be cleaned with taxpayers dollars this will keep from the Euro’s long slide into parity before July. The real question is will Germany introduce/go back to the Deutsche Mark? probably Yes, regardless of cost. Under a Euro Zone 1.3 because the expulsion of Greece does not solve the insolvency of 3 major countries: Spain, Italy and Ireland their collective expulsion is not practical nor wise, the Deutschmarks is.

  • Will the Dow dip below 900 by June 30th? Summer is a slow season for trading but 9,000 is not far from 9,939 when considering that the Dow has dropped near 1,200 points since May. Yes it will dip below 900 by June 30th.
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American vision, Citizen responsibilty, Dilemas, understanding economic events

Financial Freedom: A decision

Financial Independence for newbies.

It has been difficult to write a post because the focus was blurred by nagging feelings that I could not use lucid thoughts connecting the dots between finances and world events that affect us sooner or later. Clearly these are not simple dots to connect they are entire pieces of fabric to be sewn together momentarily to create a fitting suit.
Slowly the wrinkles pointed to the missing subject: the Wisdom to make the best decisions or right decisions, the modern methods of  “Decision Making”  may sound fancy to this ancient human skill but in short is the obvious and simple common sense . Clearly no amount of Wisdom will not exempt us from the trials of life however it improves odds of  surviving them.

I believe that we can develop these skills, since we have had to develop difficult and complex tasks to function in our society, we just need to redirect our priorities. In my case I had to include fiances in my 2DO list. On the subject of Global Finances we begin to  develop a basic awareness of Money, the freedom and serenity afforded with the ability to make decisions with favorable results.  In short is In this world of global finances we need clear  vision of the facts, logic and of course healthy skepticism.

The birth of our Financial Independence.
Our Founding Fathers sought a political solution through military means to ensure The Financial Freedom of the American Colonies. Now we rejoiced on this past 4th of July about our Nation’s Independence and what we really celebrated was the incredible ability of our Founding Fathers to make decisions and carry them to their success.
Am and admirer of Deming and his success in quantifying Quality so I saw commonalities in the Founding Father’s  decision process to seek Independence.
We all can agree that they were not seeking to establish a Holiday nor entries in historical books, the Thirteen Colonies of North America overthrew the governance of the Parliament of Great Britain because they sought Financial Independence, this required a politically sovereign status.
Now we can argue about the philosophical influences or the Republican values advocated or the exhortation to civic duty yet all of this important academic fodder came about because the encroachment on financial freedoms, since in all other matters they were able to assemble and plot quite freely, relative to the times, for the war of Independence.

Making Independent decisions.

So how do we start to make the right decisions, how about a simplistic start to prime the learning bug?

If we look at a modified model of the Deming cycle:

  1. Evaluate our collected data
  2. Plan with specific goal in mind
  3. Do / Act execute clear steps
  4. Feedback on the effects/consequences of our steps
  5. back to 1 until successful and start a new project

American vision, Citizen responsibilty, Leadership, Learn, understanding economic events

Everyone can benefit knowing the Basics of Finance

Chrysler-Fiat to head to Supreme Court  “A group of Indiana pension funds has made a last-minute effort to block Chrysler’s deal with Italian automaker Fiat.” reports Money.CNN
Useless panic, worry and too late in the game is painful display of poor me. Asking to correct  neglected assets because no one did know how.
One reason why I write this blog, progress: Address a lacking essential life skill, Market skills that is. As participating clients of the pension funds around the globe we have a poor understanding of ‘The How’ when chicanery or dishonesty of our leaders affect retirement funds bottom line.
To prevent losses to crime and accidents we spend enormous time, money and resources to protect our mundane possessions and have organized layers of law enforcement.
We trail in doing the same to protect our retirement nest eggs. In other words basic working knowledge of the Stock Market.
This over sized scope and magnitude of the present crisis is the result of our past attitude. Properly armed with financial facts and honest attitude the bubbles would not have grown perversely everywhere. They would have been contained to smaller pockets of greed and inexperience.    Stock brokers can profit in up or down times since they have necessary life skills to navigate turbulent waters. Skills that allows the individual to control the building of his financial cushion. There are no excuses that work, clearly.
A basic knowledge of the Market and Investments is necessary to effectively stave the forces produced by incompetence or dishonesty. Whether is GM’s refusal to let go of the mentality that they knew what the consumer should buy or the SEC’s inability to press Madoff to produce  and analyze his data or our inability to realize that while the nation workers are been laid off, American jobs being outsourced, manufacturing plants closing yet …  yet there is a Real Estate boom! houses selling for 1/2 million dollars in the same neighborhoods where 15 years earlier they were selling for less than 100 thousand  yet everyone accepted it as normally ideal, we were to busy fighting about political agendas that betrayed the principles of their financing, ironic.
I knew something was certainly wrong with the picture but my lack of smarts in the Financial field prodded me to let smarter folk to proclaim that all is well just spend more, go to college, buy a  house and a boat fill it with cheap Chinese goods with your credit is easy just make goals have ambition and get promoted …find better job …you’ll pay off your loans soon, everybody does it. Whatsa matter you!  This has been the extent of our financial savvy and that of knowing the basic terminology on how to fill the forms for medical insurance, right?!
We can talk about conservatism, balderdash!
This crisis clearly shows we as society have lost conservatism somewhere in the farm. This is where political rhetorical slogans and partisan ideologies crash against the cold reality of cash or lack thereof leaving surprise and emotions insufficient forces to address and correct malfeasance.

Our goal is to learn the language of The Market and become aware of its effects in society, not teach anything.

Markets reported by The Financial Times

FTSE 100 4,376 -1.41% € per £ 1.15 +0.47%
S&P 500 940.09 0.00% $ per £ 1.59 -0.43%
NIKKEI 225 9,866 +1.00% ¥ per $ 98.52 -0.13%
EuroFirst 300 860.24 -1.38% WTI Crude 67.65 -1.15%

Apple [aapl]  chart by Market Club

Today’s comment:
Chrysler-Fiat to head to Supreme Court: “A group of Indiana pension funds has made a last-minute effort to block Chrysler’s deal with Italian automaker Fiat.”   Says a reports from Money.CNN
Useless panic, worry and too late in the game is painful display of poor me. Asking to correct  neglected assets because no one did know how.
One reason why I write this blog, progress: Address a lacking essential life skill, Understanding the Market skills that is. As participating clients of the pension funds around the globe we have a poor understanding of ‘The How’ when chicanery or dishonesty of our leaders affect retirement funds bottom line.
To prevent losses to crime and accidents we spend enormous time, money and resources to protect our mundane possessions and have organized layers of law enforcement.
We trail in doing the same to protect our retirement nest eggs. In other words basic working knowledge of the Stock Market.
This over sized scope and magnitude of the present crisis is the result of our past attitude. Properly armed with financial facts and honest attitude the bubbles would not have grown perversely everywhere. They would have been contained to smaller pockets of greed and inexperience.    Stock brokers can profit in up or down times since they have necessary life skills to navigate turbulent waters. Skills that allows the individual to control the building of his financial cushion. There are no excuses that work, clearly.
A basic knowledge of the Market and Investments is necessary to effectively stave the forces produced by incompetence or dishonesty. Whether is GM’s refusal to let go of the mentality that they knew what the consumer should buy or the SEC’s inability to press Madoff to produce  and analyze his data or our inability to realize that while the nation workers are been laid off, American jobs being outsourced, manufacturing plants closing yet …  yet there is a Real Estate boom! houses selling for 1/2 million dollars in the same neighborhoods where 15 years earlier they were selling for less than 100 thousand  yet everyone accepted it as normally ideal, we were to busy fighting about political agendas that betrayed the principles of their financing, ironic.
I knew something was certainly wrong with the picture but my lack of smarts in the Financial field prodded me to let smarter folk to proclaim that all is well just spend more, go to college, buy a  house and a boat fill it with cheap Chinese goods with your credit is easy just make goals have ambition and get promoted …find better job …you’ll pay off your loans soon, everybody does it. Whatsa matter you!  This has been the extent of our financial savvy and that of knowing the basic terminology on how to fill the forms for medical insurance, right?!
We can talk about conservatism, balderdash!
This crisis clearly shows we as society have lost conservatism somewhere in the farm. This is where political rhetorical slogans and partisan ideologies crash against the cold reality of cash or lack thereof leaving surprise and emotions insufficient forces to address and correct malfeasance.
Todays term:
What Does International Reserves Mean?
Any kind of reserve funds that can be passed between the central banks of different countries. International reserves are an acceptable form of payment between these banks. The reserves themselves can either be gold or else a specific currency, such as the dollar or euro.
Analysys:
What Does Moving Average – MA Mean?
An indicator frequently used in technical analysis showing the average value of a security’s price over a set period. Moving averages are generally used to measure momentum and define areas of possible support and resistance.
Moving Average (MA)

American vision, Citizen responsibilty, GOP's Vision, Leadership, Learn, understanding economic events

If a firm is ”too big to fail,” it is … too big.

Today’s Political two cents:

Rants against Sotomayor will only accelerate the GOP certain split:

  • A) A radical wing claiming rights to the “WASP” legacy power, this seemingly popular and boisterous faction full of bile is left to keeping tabs on every transgression a la Taliban in here you will find the entertainers Media types that claim they are not the media because they fight the ‘Liberal Media” also defending “conservatives” values while displaying the most un-conservative values.
  • B) Another group will tent more open minded figures that allow differences of opinion in an imperfect world, here you will find: Gates, McCain, Powell real life Heroes and Veterans and business men and women such as Ms. Carly Fiorina or someone like Ms. Marissa Mayer from Google (I do not know her party affiliation though)
  • C) And hopefully my wish list: Innovators and entrepreneurs and others who have the character of their convictions. It would be nice to see in this group General H. Norman Schwarzkopf, Jr., Carol Barts(Yahoo) and High tech entrepreneurs. Why is it that all real deal entrepreneurs and innovators avoid the GOP: Steven Jobs(Apple), Sergei & Brin(Google), self made billionaire Tom Golisano founder of Paychex who helped create the Independence Party rather than join the GOP.

EQUITY INDEXES

VALUE CHANGE % CHANGE
Topix 893.20 0.35 0.04
Hang Seng 17,885.27 893.71 5.26
Singapore Straits Times 2,280.31 -25.77 -1.12
S&P/ASX 3,751.50 -49.60 -1.30

HEADLINE: Investor Flight. “If a firm is ‘too big to fail,’ it is … too big” I love this quote by Thomas F. Cooley  in Forbes on line also  he says ‘First, the very notion of “too big to fail” is dangerous. It suggests that there is an insurance policy that says, no matter how risky your behavior, we will make sure you stay in business. It encourages banks to get bigger (or more interconnected), and it subsidizes risky behavior.  Second, it leaves ambiguous the important issue of who gets protected in the event of insolvency–the equity holders, creditors, subordinated debt holders, etc. It seems fair to say that the solutions that have developed on the fly have done severe damage to the notion that there is a well-ordered capital structure that means something.’  Because the growing trend in public opinion is that Banks will be deemed to big too fail and that Banks will be protected at the expense of the investor will we see an Investor flight?

  • The present financial crisis is not the problem nor a symptom but the consequence of  of  the public apathy for community issues of money, probably is the direct result of lack of pragmatism in the mathematical curriculum or in other words fear of real world math. But at the bottom I smell the ancient separation of math and money in elementary school where the proper instincts and passions are developed and we have to wait to graduate school to really learn that math and money have always been in our every day lives, This is a likely result of the fading  Banking Oligarchy. Fading!?? Yes sir, you are watching it, that is why you don’t understand what is going on.
  • In his article “Market Share thinking as old school thinking article” Mr. Adrian Kingsley-Hughes explores briefly the awareness that obsolescence in what thinking model we use to to determine our impact in the world. The vast difference between relying on the meaning of a static value of a metric versus the trend of a sequence of values.
  • There are brokers making money right now in this difficult market regardless of whether the index is low  or high because the study the trends of the market.

Innovation: Marissa Mayer from Google explains how the concept of 20% or 1 day a week engineers are given room to work on what they are passionate about, this is Google method of discovering Innovation in a disciplined manner, becase, Ms Mayer says, you do not know how a new product will be received.

COMMODITY FUTURES

VALUE CHANGE % CHANGE
Oil 62.88 -0.57 -0.90
Gold 948.40 -6.80 -0.71
Natural Gas 3.61 -0.02 -0.69

EQUITY INDEXES

VALUE CHANGE % CHANGE
DJStoxx 600 210.41 1.45 0.69
FTSE 100 4,416.23 4.51 0.10
DAX 30 5,000.77 15.17 0.30
CAC 40 3,294.86 24.77 0.76
S&P/MIB 20,312.00 15.00 0.07

EUROPE MOST ACTIVE BY VOLUME

PRICE % CHANGE VOLUME
UNICREDIT SPA 1.87 1.08 189248342
VODAFONE GROUP 118.5 0.59 173871427
MILLWALL HLDGS 0.0205 -6.82 161299393
ROYAL BK SCOTLAN 39.2 -2.49 126695708
LLOYDS BANKING 65.5 -1.95 90971975
BANCO SANTANDER 7.54 0.53 90023610
INTL GOLD EXPLOR 0.67 11.67 78265446
BP PLC 505 -0.05 65890575
BARCLAYS PLC 290 0.26 64149343
ENI SPA 17.07 -0.99 60358311

Today’s term: Annual Report

An annual publication that public corporations must provide to shareholders to describe their operations and financial conditions. The front part of the report often contains an impressive combination of graphics, photos and an accompanying narrative, all of which chronicle the company’s activities over the past year. The back part of the report contains detailed financial and operational information.

In the case of mutual funds, an annual report is a required document that is made available to fund shareholders on a fiscal year basis. It discloses certain aspects of a fund’s  operations and financial condition. In contrast to corporate annual reports, mutual fund annual reports are best described as “plain vanilla” in terms of their presentation.
It was not until legislation was enacted after the stock market crash in 1929 that the annual report became a regular component of corporate financial reporting. Typically, an annual report will contain  the following sections:

-Financial Highlights
-Letter to the Shareholders
-Narrative Text, Graphics and Photos
-Management’s Discussion and Analysis
-Financial Statements
-Notes to Financial Statements
-Auditor’s Report
-Summary Financial Data
-Corporate Information

A mutual fund annual report, along with a fund’s prospectus and statement of additional information, is a source of multi-year fund data and performance, which is made available to fund shareholders as well as to prospective fund investors. Unfortunately, most of the information is quantitative rather than qualitative, which addresses the mandatory accounting disclosures required of mutual funds.

RedSerpent’s Index

Company              Ticker         Value          Change
Yahoo * YHOO        * $14.94      * -$0.34
Microsoft * MSFT         * $20.13      * -$0.21
Intel Corp * INTC          * $15.46      * -$0.02
Taser * TASR         * $4.20       * -$0.10
Cisco * CSCO         * $18.22      * -$0.27
James Funds * GLRBX     * $16.61       * -$0.20
Paychex * PAYX        * $26.93      * -$0.56

American vision, GOP's Vision, Leadership, understanding economic events

Constitution Geek and Geek-otocracy

  • The Administration’s nomination of  the Honorable Sonia Sotomayor to the Supreme Court vacancy position clearly points to the ascendancy of the Constitution Geeks or to the Geek-otocracy that has begun to dominate the world, geeks are ruling from Football punting and lawn care to web publishing and Google. The Internet is facilitating and reinforces especifity of knowledge with awareness of its globality. Is a new way of changing the tools and resources of  the world funding its  ventures. A Google way.
  • This is why I am convinced that Mr. Robert Gates who is a USAF (SAC) veteran is the best choice to lead the GOP and will be President of the USA in the near future. The Aero Space Age demanded creativity of solutions like never before the Internet being it most famous child but also produced Integrated Circuits and even unintentionally changed comedy, yes through George Carlin who was a BombNav tech that worked in B-52’s,  an airman USAF (SAC, Barksdale AFB)
  • Today’s reading: I may take you a week to digest however is necessary reading in my opinion. From Wired Magazine: “The New New Economy: More Startups, Fewer Giants, Infinite Opportunity”
  • Today’s term: What Does 30-Year Treasury Mean?:   A U.S. Treasury debt obligation that has a maturity of 30 years. The 30-year Treasury used to be the bellwether U.S. bond but now most consider the 10-year Treasury to be the benchmark. The 30-year Treasury will generally pay a higher interest rate than shorter Treasuries to compensate for the additional risks inherent in the longer maturity. However, when compared to other bonds, Treasuries are relatively safe because they are backed by the U.S. government.

as of 12:15 today

EQUITY INDEXES

VALUE CHANGE % CHANGE
S&P 500 904.79 17.79 2.01
NASDAQ 1,741.15 49.14 2.90
Russell 2000 496.45 18.83 3.94
S&P/TSX Comp 10,190.83 121.33 1.20
Mexico Bolsa 24,425.15 226.19 0.93
Brazil Bovespa 51,417.34 601.10 1.18

CURRENCIES

VALUE CHANGE % CHANGE
EUR-USD 1.3999 -0.0016 -0.12
USD-JPY 94.9500 0.1150 0.12
GBP-USD 1.5953 0.0046 0.29

COMMODITY FUTURES

VALUE CHANGE % CHANGE
Oil 61.70 0.03 0.05
Gold 952.20 -6.70 -0.70
Natural Gas 3.49 -0.03 -0.80

Failure: 2YR:cleanHouse, 2decades: cleanGovernSystem, 2GENERTN : History willClean WholeCountry&thoseNear without failing.

STAY: Do not allow them to distract you from your Life, stay the course of your dream that meets responsibility, STAY.

American vision, Uncategorized, understanding economic events

Twitter: 4Sale: back 2Old failed ideas?

The buzz is that Google or Microsoft should buy Twitter because it will improve their business
Amazing just after the Wall Street crash and people are still thinking with their BUBBLE HAT.
Why is all of this hubris in my opinion?

First:

First is necessary to mention that I love Twitter un-apologeticaly, why? Results, long awaited results. Do you remember getting your first 300 baud modem/ Mine was a used Hayes & back then browsing was an art or an adventure, :-D  we knew the pin-outs of the connectors and basic code, so that we could get the basic and latest news from afar and from bulletin boards in the know with their finger on the pulse LOL. Ham radio enthusiasts worked hard to rig their radios to computers blah blah blah …the things we dreamed we could do if we only had the right tools. Well that tool has arrived sweetly: Twitter, actually tool
My knowledge has grown like an understanding and satisfaction of knowing amazing people as they live their lives, faster with Twitter than with any other method available 2 the public, Price tag: $$ Invaluable.
Twitter and the Twitterverse (Twitter universe) is an awesome resource because it has a fundamental sound engine and truly is a system made up of many independent tools: reTweetRadar, nearby tweets and many more. Many hundred of thousands feel this way and millions do similarly. In these there is a sense of unity and brotherhood/fellowship.
Twitter by itself is great but by itself lacks the sum power of what it is today. The Twitter universe is a system of independent companies what gives it its explosive power.
Google (GOOG)-Twitter is a win-win-win solution for both companies and Twitteverse
Microsoft-Twitter is a win-lose-lose, good for Microsoft (MSFT), bad for Twitter lousy for Twitteverse,
MSFT would not allow integration of all the integrated/synergyzed tools available for Twitter such as Tweetwasters, Twubble, Twitscoop, Twitter Analyzer, Qwitter an other & those to come. The MSFT mindset is allergic to those principles.
Why do I think the $1billion sale to Microsoft or Google is hubris at this point? Because the Gods of Corporate Destiny resemble the bickering self centered Gods of Mount Olympus more so than any other mythological set.
When one is to consider the fact that a fair share of today’s Twitter rise is a bubble created by the “break the record followers” effect so the novelty will subside leaving a faithful core that has been capable and willing to exploit Twitter’s premise of micro-blogging and I think most of it is intuitive knowing and perhaps that is why is so viral.
Learn 2 Live and Let Live.
Relax and pay attention.

American vision, Bailouts, Dilemas, understanding economic events, World events

Bail-inn 3d world countries or the USA

Markets

FTSE 100 3,893 -0.19% € per £ 1.07 +0.13%
DOW 7,750 0.00% $ per £ 1.46 +0.06%
HANG SENG 14,109 +3.57% ¥ per $ 98.36 +0.78%
DAX 4,238 +0.34% WTI Crude 53.61 +1.59%

It has been a while since my last post, it was difficult to write about what I saw coming down the pike without sounding sadly without any credible case. Now there is enough out there for the public to be willing to consider the drastic change in life styles and mind sets that will be needed to survive without becoming just a barely better economy than Mexico.

The fast pace in which the corruption of values and ethical standards from a critical mass of our Financial and Political leaders will require a strong public willing and ready to learn about the subject of economics and finance it is our responsibility if we do not pull ourselves by the bootstraps no one else will we the Joe Public types not Mr. Politician nor Mr. CEO

“Roughly once year the IMF, US Secretary and sometimes finance ministers of G7 countries get a phone call from the finance minister of a large emerging-market economy: …the country is rapidly running out of foreign reserves, lost access to capital markets, and that perhaps even lost confidence of its citizens. Without a large rescue loan, he country will be forced to devalue its currency and.”  This is how Mr. Roubini starts the introduction of his book “Bailout or bail-ins” co-authored with Brad Setser.

Eerily familiar, what sounds like corrupt dictators of a struggling African or Central American nation?

FT.com/ reports:  AIG paid more than $40m in controversial retention bonuses to staff at its troubled financial unit in December, three months ahead of schedule, according to the resignation letter of an executive at the insurance group.

News of the decision to pay bonuses of $165m to staff at AIG sparked political outrage and protests in the US Congress, after the insurer was bailed out with $173bn of public money last year. Before the publication of the letter, momentum on draconian legislation to claw back bonuses had begun to slow.

Jake DeSantis, a manager in AIG’s Financial Products unit, said AIG “accelerated by three months [the payment of] more than a quarter” of the $165m of retention bonuses due to the division’s employees.

The President of the USA will arrive in Europe for a summit hosted by British Prime Minister Gordon Brown, while ”

European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as “a way to hell.”

Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama’s massive stimulus package and banking bailout “will undermine the stability of the global financial market.”  Reported by Fox News

Will the strongest currencies dominate what may become the UN of finance and will that nation be China? Just consider:

China’s central bank yesterday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”. Reported by FT.com

But no matter what we will make it through, believe that work hard like you mean it, have a good day no matter what

RedSerpent