Dollar Soars Against Foreign Currency

Via the Los Angeles Times:

Americans have long complained that the dollar doesn't buy much anymore. Suddenly, the dollar's problem may be that it buys too much — a change that has huge implications across the global economy for consumers, businesses, investors and governments. The U.S. currency's value has surged over the last nine months, reaching levels against some world currencies last seen more than a decade ago. In Europe, it now costs just $1.09 to buy one euro, down from $1.37 a year ago and almost $1.50 four years ago. To put it another way, an American tourist strolling the streets of Paris this April can buy 25% more croissants, cafe au laits or mini Eiffel towers than a year ago with the same dollars. The greenback's advance has been even more dramatic against some rivals. With its latest rally, one buck buys 30% more Swedish kronor than a year ago, 40% more Brazilian reais and 61% more Russian rubles. Western Europe gets a lot of the publicity because the euro is the weakest it has been since 2003. But the dollar is up 22% from a year ago in Poland, 20% in Morocco, 14% in Mexico and 12% in South Africa.

The downside, of course, is that US exports are more expensive and the cost of visiting the United States is much more than it was just last year.

UN: It's Time For A Global Currency

Oooh WEEE! This is gonna be fun when the End Times folks get hold of it!

The United Nations Conference on Trade and Development said in a report published Monday that the U.S. dollar should be replaced as the world’s standard reserve currency, giving rise to a new global currency managed by an as-yet undetermined financial regulatory organization. Heiner Flassbeck, director of the conference, told Bloomberg News that changes needed in the world’s financial systems rival the scope of the Bretton Woods or European Monetary System agreements. The Bretton Woods agreement established in 1944 the International Monetary Fund and World Bank, following allied victory in World War II. “[The] dominance of the dollar as the main means of international payments [has] played an important role in the build-up of the global imbalances in the run-up to the financial crisis,” the report says. “Another disadvantage of the current international reserve system is that it imposes a greater adjustment burden on deficit countries (except if it is a country issuing a reserve currency) than on surplus countries.”

Create your own slogan! "The (choose one: Elders Of Zion, Freemasons, Opus Dei, Illuminati) are going to bring on the (choose one: New World Order, Fourth Reich, End Times, Age Of Aquarius) in which we'll be completely oppressed by (choose one: Big Brother, the Anti-Christ, ZOG, the World Bank) who will subjugate us using (choose one: RFID tags, martial law, mind control, the Mark of the Beast)!! Only (choose one: Jesus Christ) can save us!"