Posts Tagged ‘economic collapse’

Belarus Shoppers Panic as Ruble Collapses; EPC CEO & Chief Global Strategist Says US Dollar May Collapse in Fall 2011

05/26/2011 Leave a comment

“Panicky shoppers in Belarus are buying up consumer goods and scarce food supplies as fast as they can, after a sharp devaluation of the ruble failed to halt a slide in the national currency’s value.

Weeks of economic crisis have prompted many Belarusians to buy foreign currency – usually U.S. dollars or euros – to protect themselves against the ruble’s plunge. The government announced Tuesday the official exchange rate would be 4,930 rubles for $1 as of Wednesday, compared to the previous rate of 3,155 rubles, but that triggered an immediate shift in the ruble’s unofficial or black-market price, which now stands at about 6,500 rubles per dollar.” Read more.

Video: Peter Schiff Says US Dollar Could Collapse by Fall 2011 – CEO & Chief Global Strategist of Euro Pacific Capital, Peter Schiff, has been correct about a lot of stuff in the past few years and now believes that the US Dollar may collapse as soon as the fall of 2011:

U.S. Dollar’s Dizzying Drop Wreaks Economic Havoc

04/29/2011 Leave a comment

By KEVIN CARMICHAEL – “The U.S. dollar’s long decline has turned into a sudden plunge, throwing currency markets into a frenzy that is complicating life for policy makers and executives the world over.

An index that measures the value of the dollar against six major peers declined for the eighth consecutive day Thursday, the longest slump in two years.

The U.S. dollar is in the midst of what Nomura Securities International analyst Jens Nordvig called a ‘violent … weakening move,’ as a confluence of factors drive investors to seek short-term gains outside the United States.

Gross domestic product in the U.S. slowed to an annual rate of 1.8 per cent in the first quarter, compared with 3.1 per cent over the final three months of 2010, according to the first of three estimates from the Commerce Department, released Thursday.”  Read more.

Don’t Like a Weak Dollar? Might as Well Get Used to It

04/25/2011 Leave a comment

By Jeff Cox – “Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.

The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant national currencies.

A combination of factors accounts for the weakness, with the Federal Reserve’s easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.

In short, as trader Dennis Gartman noted Thursday, ‘the rout of the US dollar’ is in full effect.”  Read more.

These 8 Shocks Are About To Slam The Global Economy

03/27/2011 Leave a comment

By Gregory White, Business Insider, “The world is being hit with, or will soon be hit with, 8 shocks to the global economy, according to Citi strategist Guillermo Felices.

It all started with surging food prices in developing markets, but now it may be spreading from the emerging markets to the developed world.

It’s important to understand how the first seven of these crises relate to one another, and how the eighth is exacerbating an already difficult situation.

We go through Guillermo Felices’ shocks and detail each, looking into how each is transpiring and impacting the global economy.”  Read more.

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