The continuing strong dollar will have implications for governments as well as the Australian economy. It’s time we faced up to it.
Currency
Labor’s life is in foreign hands …
A gathering economic storm overseas may wreck Labor’s entire political strategy, write Bernard Keane and Glenn Dyer.
The digital economy: trading coins for clicks
The future of money could be far less about dollars, superpowers or coinage if virtual currencies ever cross the line from virtual to real, writes Charis Palmer. Bitcoin electronic currencies says it is changing finance the same way the web changed publishing.
Why the €500 note has been dumped
The €500 note has been taken out of circulation in Britain — not because the European economy has collapsed, but because it’s making things far too easy for the country’s crooks: $1m dollars’ worth weighs an easily smuggleable (or swallowable) 1.43kg.
The $US100 bill, as designed by Coogi
The classic green US$100 bill has been given a colourful makeover in order to prevent counterfeit copies and not everyone is happy with the new “god damn child’s crayon scratch pad” design, as Gawker calls it.
How Paul Krugman will bring down the US economy
Economist Paul Krugman reckons the US should impose a 25% surcharge on Chinese goods until the country caves in and floats its currency. It’s a dangerous proposition, warns Jeremy Warner: it would simply ruin both economies.
How the Euro was built on a lie
The Euro is fundamentally flawed, says Der Spiegel: built on broken promises, fudged figures and dodgy deals. An excellent analysis on everything that’s wrong with Europe’s currency — and how it might be fixed.
North Korea nukes the won
It’s economic reform, North Korean style: cut a couple of zeroes off the country’s currency, declare old bank notes worthless, and wipe out the entire country’s savings.
Become a millionaire for under $200
Become a millionaire on the cheap by trading your unimpressive Aussie dollars for ridiculously overinflated currency from the developing world. For only a dollar, you could be flashing around 4669 Zambian Kwacha, 9560 Indinesian Rupiah or 14,308 Turkmenistani Manat!
China’s dirty Yuan devaluation
China’s dirty devaluation of its currency to allow it to move in value with the fall in value as the US dollar is hurting its rivals in recovering Asia, such as Japan, South Korea and Taiwan.
In search of a new global currency
The dollar may be on the decline as the world’s standard currency, but replacing it is harder than it sounds: China’s renminbi, often touted as the natural successor, is out of contention so long as it’s pegged to the dollar. Could this be the euro’s moment to shine?
Your dollars are just Monopoly money
Ultimately, your dollars are just bits of paper, says William Fleckenstein with no more intrinsic value than those in your Monopoly set. Gold, on the other hand…
revealed The Middle East’s secret plan to bring down the dollar
Arab states, along with China, Japan, Russia and France, have been holding secret meetings to plot a move from doing oil deals in US dollars, instead moving to a mix of the yen, yuan, euro, gold and a new, unified Arab currency.
Money: the paper painkiller
Scientists have found that money weilds more than just economic power: just handling cash can help reduce social discomfort and even physical pain — and our brains may even unconsciously substitute money for love.
China’s “redback” set to rise
China’s renminbi could become one of the top three traded monetary units in the world by 2012, say analysts, with the country’s economy booming and the government making moves to speed up internationalisation of the currency.
One man’s fight for digital bullion
Douglas Jackson, founder of E-Gold, a pioneering digital currency, is under house arrest for money laundering-related crimes and more. But he’s determined to start again. Kim Zetter chats to the flawed visionary.
The story of nine failed currencies
From Germany in the 1920s to the recent hyperinflation in Zimbabwe, Mint looks at the story behind nine currencies that went completely bust.
Photo essay: the problem with printing money
After World War I, Germany started printing money to try and climb out of financial trouble. Here’s what the result looked like at ground level.
The incredible shrinking Aussie dollar
Forget oil and interest rates, watch how the Aussie dollar is travelling to keep your finger on the pulse of the economy.
Parity ho! Aussie dollar on a 23-year high sails past 90 USc
The Australian dollar hit a new 23 year high today, rising above 90 US cents for the first time since June 1984, writes Glenn Dyer.
