Prophecy in today's headlines

China Proposes One Global Currency

China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is […]

US Rescue Averted Financial Collapse – Treasury

The question is, “averted for how long?” ——————— Massive rescue efforts by the US government and central bank in recent months helped avert a “financial collapse” and are working to stabilize the economy, a Treasury report said Wednesday. The Treasury report to a congressional panel overseeing the 700-billion-dollar rescue plan passed in early October said […]

Dollar Spirals Downward

The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated. The U.S. currency slid to a 13-year low against the yen today and had its biggest one-day decline versus the euro after the Federal Reserve reduced its target interest rate yesterday to a range of zero […]