FRANKFURT (Reuters) – Global leaders are considering a new world financial order in the wake of the financial crisis which is threatening to tip the global economy into recession. [Click the title or here to see the article]
[Excerpt from Christopher Laird at Market Oracle] Just because the USD happens to be rallying now (with weekly fluctuations) does not mean that its fate is not bleak. There are many reasons the USD is rallying right now. They include flight to cash in general during market liquidations in all areas, but also cash hoarding because businesses cannot roll over the short term credit they use to do payrolls and ongoing operations. Then we have the usual end of year cash surge for businesses and financial institutions. Then of course there is flight to the USD for safety, and then finally, other countries [sic] currencies are adjusting to the slowing world economy, and the once hot foreign markets are cooling and there is lots of money moving out of the ‘emerging’ markets.
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