Sep 7th, 2010 |
By Rob
In 1933 the Gold Standard was pushed aside and the United States Dollar (USD) officially became tied to nothing. Later in 1944, during a gathering of global leaders in Bretton Woods, New Hampshire, international exchange rate policies were put in place to assure the system of “floating” global currencies. Yet it would be the Mr. John Maynard Keynes who went on to define this exchange of paper money as “fiat currency”, or money where the “material substance… is divorced from its monetary value”.
Posted in DS Feature, Korea |
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Tags: china currency, fiat, Fiat currency, fiat system, japan carry trade, japan currency, korea currency, korea foreign currency reserve, Renminbi, won, yen, Yuan, yuan depegged, yuan peg
Mar 26th, 2010 |
By Rob
The “bond king” of PIMCO, Bill Gross, tells Bloomberg and the world his strategy on the issue of Greek debt… “Stay away!” In the interview, Gross explains recent moves of the Absolute Return PIMCO fund, including record low holdings of Long Term U.S. debt and increased holdings of “core” European bonds, most notably Germany. Having
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Tags: Bill Gross, Bill Gross Bloomberg, Bill Gross Bloomberg interview, Bill Gross fund, Bill Gross Greece, Bill Gross Greek, Bloomberg, BOE, Bond, Bond King, bond king greece, call, diamond slice, Dollar, DS Video, ECB, economy, Equity, EU, EU Bailout, EU Greek Bailout, Euro, Euro dollar, Euro Pound, Franc, France, Germany, Greece, greece insolvency, greece insolvent, Greek Bailout, greek bills, greek bonds, Greek Debt, greek insolvency, greek paper, insolvent, JPY, live, market, Merkel, PIMCO, portfolio, Renminbi, Sarkozy, Sterling, strategy, Total Return Fund, Trichet, USD, video, Yuan
