Posts Tagged ‘sovereign debt crisis’

10 Reasons Why the Reign of the Dollar as the World Reserve Currency is About to Come to an End

Thursday, March 29th, 2012

Source:  Wealth Wire

OPINION

The U.S. dollar has probably been the closest thing to a true global currency that the world has ever seen. For decades, the use of the U.S. dollar has been absolutely dominant in international trade. This has had tremendous benefits for the U.S. financial system and for U.S. consumers, and it has given the U.S. government tremendous power and influence around the globe.

Today, more than 60 percent of all foreign currency reserves in the world are in U.S. dollars. But there are big changes on the horizon…

The mainstream media in the United States has been strangely silent about this, but some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade. There are also some oil producing nations which have begun selling oil in currencies other than the U.S. dollar, which is a major threat to the petrodollar system which has been in place for nearly four decades. And big international institutions such as the UN and the IMF have even been issuing official reports about the need to move away form the U.S. dollar and toward a new global reserve currency. So the reign of the U.S. dollar as the world reserve currency is definitely being threatened, and the coming shift in international trade is going to have massive implications for the U.S. economy. (more…)

Things More Worrisome than AGW: Children ‘dumped in streets by Greek parents who can’t afford to look after them any more’

Thursday, January 12th, 2012

Source:  UK Mail

Abandoned: Children are being dumped on Greece's streets by their poverty-stricken families who cannot afford to look after them any more

  • Youngsters abandoned as parents struggle
  • 4-year-old found clutching note: ‘I can’t afford her’
  • Country also running out of medicine
  • Aspirin stocks low as austerity measures bite

Children are being abandoned on Greece’s streets by their poverty-stricken families who cannot afford to look after them any more.

Youngsters are being dumped by their parents who are struggling to make ends meet in what is fast becoming the most tragic human consequence of the Euro crisis.

It comes as pharmacists revealed the country had almost run out of aspirin, as multi-billion euro austerity measures filter their way through society.

Athens’ Ark of the World youth centre said four children, including a newborn baby, had been left on its doorstep in recent months.

One mother, it said, ran away after handing over her two-year-old daughter Natasha.

Four-year-old Anna was found by a teacher clutching a note that read: ‘I will not be coming to pick up Anna today because I cannot afford to look after her. Please take good care of her. Sorry.’ (more…)

  • pyaemia