This is clearly the worst financial problem we've had since the Great Depression," as Joseph Stiglitz told a radio show in New Zealand on Wednesday morning.
Want a racing certainty for the coming year? Take a look at the dollar and gold... Who can say what 2008 may bring? A post-Olympics crash in China, perhaps, tipping its near-10 per cent annual rate of expansion into an historic slump.
Turning tail from its worst valuation ever on the world's currency markets, the US Dollar has now gained more than 3% since the start of November.
"In the current, weak-Dollar situation," says German economist Peter Bofinger in an interview with Der Spiegel, "a treaty should be signed by the central banks of China, South Korea, Japan, Russia and other countries that have huge Dollar reserves...so that they don't dump massive amounts of dollar onto the market.
Registered in the Virgin Islands, this gold-based hedge fund took less than three months to gain approval from the UK's investment regulators, the Financial Services Authority. And charging 1.5 per cent per year -- plus 20 per cent of the gains made by those clients choosing to make the minimum $100,000 investment the Hinde Gold Fund is certainly less expensive than many other hedge funds.
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