Enigmatic American Economy Extracts ...
Maybe you know more about money than we do, since we readily confess that we never seem to have enough of the stuff. And whenever we do manage to get our hands on any extra, it doesn't usually stay there for long.
So, who the hell are we to try to explain anything financial to anyone?
Anyway, we're not officially licensed for lobbing about financial advice -- be it either of the free, or the properly bought & paid for variety.
Better then that we let folks do their own adding-up and figure a few things out for themselves, eh?
However, here's a starter-trio of really recent, US dollar related news reports we reckon are well worth reading.
More here at link.
Dollar dropped in Iran asset move
The move could have implications for the oil market
Iran is to shift its foreign currency reserves from dollars to euros and use the euro for oil deals in response to US-led pressure on its economy.
In a widely expected move, Tehran said it would use the euro for all future commercial transactions overseas.
And then there's this one.
US deficit heading towards recordFind the full piece here.
High oil costs have been boosting the cost of products such as petrol
The US current account deficit has kept widening, signalling that the world's largest economy is still having to foot a massive bill for energy imports.
The deficit was $225.6bn in the three months to the end of September, up from a revised $217.1bn in the previous quarter, the Commerce Department said.
That pushed the total for the first nine months of the year to $655.9bn, well on course for an annual record.
The deficit's size has raised concerns about the state of the US economy.
And can you believe this? Moreover, can you say 'Melt-Down'?
Mint bans melting coins - now worth more as liquid than loot.Read the rest of this remarkable report right here.
WASHINGTON - Given rising metal prices, the pennies and nickels in your pocket are worth more melted down than their face value, and that has the government worried.
U.S. Mint officials said Wednesday they were putting into place rules prohibiting the melting down of 1-cent and 5-cent coins, with a penalty of up to five years in prison and a fine of up to $10,000 for people convicted of violating the rule.
Because of the prevailing prices of metals, the cost of producing pennies and nickels exceeds the coins' face value.
Phew. While we've often heard the phrase re; money not being worth the paper it's printed on -- this report about US coins not now being worth the metal they're cast from, is a first for us.
It's a good job we're not financial whiz-kids, otherwise we might start wondering. And that might even lead to worry -- which, unlike dosh, we definitely don't need any more of.