Random Feed wrote an interesting post today on
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Dear CIGAs, Reuters carried a news flash that turned the currency markets inside out, upside down and topsy turvy this morning. I give it to you in the same exact form that it flashed across my screen… REUTERS DOLLAR TRADES AT SESSION LOW VS EURO AFTER GEITHNER SAYS OPEN TO MOVING TO SDR-LINKED CURRENCY SYSTEM (C) Reuters 2009. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without t

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Random Feed wrote an interesting post today on
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Oh, Mr. Geithner. Some have commented that whatever merits Treasury Secretary Tim Geithner may have, public speaking is not one of them. The dollar slumped dramatically against the euro, yen and other currencies after Mr. Geithner Wednesday said the U.S. is “quite open” to a suggestion from Chinese officials of a move to a “Special Drawing Right” linked currency system. Oy. “Geithner is learning the hard way about the impact that his comments can have on the currency market and despite his

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Random Feed wrote an interesting post today on
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Gold standard Gold species standard Gold Bullion standard Exchange control was introduced post world war I (huge currency printed) inflation, followed by depression ‘ turmoil in 1930-s . BRETTON WOOD Conference initiative to create multilateral currency system held in 1944 ‘ led to IMF and IBRD. To start with fixed rates were introduced (vis-à-vis USD or Gold0. IMF to permit changes in valuations of currencies (almost automatic for changes upto 10%) ‘ to avoid sudden changes impacting other

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