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China's prime minister has rejected foreign calls for allowing the yuan to appreciate and blamed the US for strained ties between Washington and Beijing. Wen Jiabao used a news conference marking the end of China's annual parliament meeting on Sunday ...
Publ.Date : Sun, 14 Mar 2010 07:07:00 GMT
Chinese Premier Wen Jiabao has rejected criticism that China's exchange rate controls keep its currency undervalued in order to boost exports. He said keeping the yuan stable was "an important contribution" to global recovery from the economic downturn. He was speaking at the end of China's annual
Publ.Date : Sun, 14 Mar 2010 05:55:00 GMT
The San Francisco-based 9th U S Circuit Court of Appeals panel rejected two legal challenges by Michael Newdow, a doctor, who said the references to God are unconstitutional and infringe on his religious beliefs. The same appeals court caused a national uproar and prompted accusations of judicial
Publ.Date : Fri, 12 Mar 2010 09:47:00 GMT
BEIJING — Premier Wen Jiabao sharply defended China ’s currency and trade policies on Sunday against what he called foreign “finger-pointing,” charging instead that the developed world seeks to force unfair changes in those policies “just ...
Publ.Date : Sun, 14 Mar 2010 08:26:00 GMT
... sooner or later,” China must be cautious on the timing. “We oppose countries’ pointing fingers at each other and even forcing a country to appreciate its currency, because that won’t help renminbi exchange-rate reform,” Wen said, using ...
Publ.Date : Sun, 14 Mar 2010 02:56:00 GMT
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Treasury chief Paulson Commits to Strong Dollar
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Treasury chief Paulson Commits to Strong DollarThe US is committed to a strong dollar," said Treasury chief Paulson in India on Tuesday. What was he thinking? Maybe he spoke with a smile...at least the audience could have taken it for a joke. But press reports make no mention of anyone laughing.
No, dear reader, it was simply another monumental lie... the monetary equivalent of "weapons of mass destruction" and "I did not have sex with that woman".
After the Treasury Secretary affirmed his support for the buck, traders sensibly sold it. The dollar lost a little more ground against the euro.
Elsewhere in the financial news, the Dow lost a few points yesterday...oil dropped back to US$90...and gold slipped back to US$787.
"You are either a contrarian, or you are a victim," says our old friend Rick Rule. Rick is thinking of the natural resource markets, where crowd-following is always fatal.
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