Saudi currency value
May 7, 2012 - 5:22pm — europac admin
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May 7, 2012
There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency.
For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and that international demand constitutes a huge part of the dollar's valuation. Not only did the global-currency role add massive value to the dollar, it also created an almost endless pool of demand for US Treasuries as countries around the world sought to maintain stores of petrodollars. The availability of all this credit, denominated in a dollar supported by nothing less than the entirety of global trade, enabled the American federal government to borrow without limit and spend with abandon.
Silver Coin Pricing Guide, 1800-2000: A Reference for Buying and Selling 19th and 20th Century World Coins on eBay, Websites and at Coin Shows
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NEW YORK (Reuters) The dollar tumbled Tuesday as markets grew concerned about the likely impact of South Korea's plan to diversify its reserves out of U.S. assets, pushing the currency below key technical support levels.
South Korea's central bank, which holds a large chunk of U.S. Treasuries, said Monday it planned to spread its reserves, which are the world's fourth largest, among a greater variety of currencies.
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