Prophecy in today's headlines

Russia – World Needs New Reserve Currency

Russian President Dmitry Medvedev said Tuesday the world needs new reserve currencies. Medvedev told a regional summit that the creation of new reserve currencies in addition to the dollar is needed to stabilize global finances. Medvedev has made the proposal before. It reflects both the Kremlin’s push for greater international clout and a concern shared [...]

U.S. Inflation to Approach Zimbabwe Level

The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said. Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million percent in July, [...]