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currency trading

Protest, scuffles with police in Iran over currency crisis

Source : AFP | 04 Oct 2012

A protest and scuffles with police occurred in central Tehran on Wednesday in the first sign of public unrest over Iran’s plunging currency, which this week has lost more than half of its value.

Hundreds of police in anti-riot gear stormed the capital’s currency exchange district of Ferdowsi, arresting illegal money changers and ordering licenced bureaux and other shops closed, witnesses told AFP.

Several arrests were seen, carried out by uniformed police or plain-clothes security officers.

Smoke was seen in two places in the area.

World economy fragile, faces 'uneasy calm': IMF

By Reuters | Washington | 18 Apr 2012

Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain elevated and the situation is very fragile, the International Monetary Fund said on Tuesday.

Another flare-up of the euro-zone sovereign debt crisis or sharp escalation in oil prices on geopolitical uncertainty could disrupt the world economy finding its feet now tensions in the euro zone have subsided, the IMF said.

What is money?

By : Dan Hind | Al Jazeera / 16 Oct 2011

We spend a lot of time thinking about money, one way or another. We think about how to get our hands on it, how to keep it safe and how to spend it. When we aren't asleep, there's a good chance that we're paying attention to money. But while money is never far from our thoughts, there is something curious about our relationship with it. For all that we use it to get through the day, most of us don't know what it is.

Russia, China agree to expand national currency opportunities

Source | Bernama
ST PETERSBURG | 24 Nov 2010

Russia and China agreed to expand opportunities in using national currencies in mutual trade, Prime Minister Vladimir Putin said on Tuesday after a meeting with his Chinese counterpart Wen Jiabao.

"We agreed to expand opportunities for national currencies in trade and economic contacts," Russia's Itar-Tass news agency quoted him as saying.

Putin noted that to-date the two countries conducted trade in foreign currency, mainly in US dollar.

Mahathir urges use of gold standard

Source : Mushtak Parker | Arab News
LONDON | 21 Nov 2010

Malaysia's elder statesman Mahathir Mohammed, the favorite politician of the Muslim man in the street and former prime minister, is never far from controversy.

Addressing the 5th International Shariah Scholars Forum, which was held in Kuala Lumpur recently in conjunction with the Global Islamic Finance Forum (GIFF) 2010, Mahathir in an outspoken attack stressed that the "collapse of conventional banking, finance and the monetary system has exposed their weakness and the ease with which they can be abused."

Four Trillion Dollars

By Dr. Mahathir Mohamad

1. How much is 4 trillion dollars? Star Business picking a report from foreign source says it is the value of Germany's total output for one year.

2. I try to imagine the figure 4 trillion and wrote it down. It is 4,000,000,000,000. It is a lot, a great lot of money. But it is just the amount of dollars traded by the currency traders in just one day.

3. Yes, the currency traders are still at it, worldwide financial crisis notwithstanding.

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