Gregory Weldon's Contributions

We note commentary from President Obama's Chief Economic Advisor Alan Krueger, a wildly accomplished academic-economist, following Friday's release of the BLS Employment Situation Report for November ...

Dating all the way back to the day the Greek Drachma was accepted into the EU's ERM (Exchange Rate Mechanism), thus retiring Greece's currency, and replacing it with the Eurocurrency ... we have always believed that a two-tier Eurocurrency 'regime' would ultimately 'reign', once the EUR experiment failed.

After the Fed's announcement of extended low interest rates, the Canadian dollar broke above a key resistance-level signaling a resumption of the 'risk-on' trade and global-asset reflation.

On January 1st of 2002 the 'modern era' Eurocurrency was first 'issued' in the form of banknotes and coins. The European Central Bank is participating in a celebration of this historic event, with a campaign entitled ... "Generation Europe". The question is, will the euro be a one-hit wonder ???

The People‟s Bank of China stuck some „coal‟ in the stockings of domestic consumers and international investors, with a Christmas Day rate hike of +25 basis points, the second hike enacted during the 4Q, taking the official One-Year Lending Rate to 5.81%

The Athens International Airport is closed today … not because of weather, or terrorist threats, but rather, because Air-traffic controllers walked off the job, as part of nationwide protests against the government‟s austerity package … specifically … wage cuts.

Canadian's should be... 'standing on guard' ...as the currency pushes for a violation of 'parity' to the US Dollar, which, in turn, has put downward pressure on Exports to Imports, causing the Current Account Balance to collapse into a deepening deficit ...in sync with a tightening in monetary conditions and an intensifying erosion in the core of the Canadian labor market.

Is the US Dollar going the way of the [gasp] dinosaur? Indeed, are all paper currencies going the way of the dinosaur on a path towards extinction? To much less media-fan-fare, but to a far greater degree of importance, we suggest that the key thing to understand here is the intensifying secular erosion in the US right to seigniorage. The US right to seigniorage … may already be extinct.