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Dollar and euro: Whose crisis is bigger?
Dollar exchange rate continues to rise, despite the enormous national debt and virtually pre-default state of the USA. Why?
Mikhail Fedorov, analyst of “RIC-Finance”:
“Today, because of the debt crisis the Eurozone and the U.S. became competitors in terms of their attractiveness to outside investment, and therefore their ability to fund their own public loans. In fact, they...
America: a superpower no more
Two American icons, General Electric and Berkshire Hathaway, lost their triple-A credit ratings. Then China, America’s largest creditor, called for a new global currency to replace the dollar just weeks after it demanded Washington guarantee the safety of Beijing’s nearly $1 trillion debt holdings. And that was just in March.
These events are the latest warnings that our world is changing...