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	Finance & Development, June 2001 - Can the World Economy Afford U.S. Tax Cuts? The International Dollar Standard ...
		After all, the dollar remains strong and the United States is unique in having a virtually unlimited line of credit, largely denominated in dollars, from the rest of the world.
		To the present day, the dollar is still the vehicle currency in the interbank spot and forward exchange markets, the currency of invoice for trade in primary commodities and many industrial goods and services, and the main denomination for international capital flows.
		Although the dollar's central monetary role is all well and good for promoting efficient international exchange, an incidental consequence is that the international borrowing of the United States is not subject to hard budget constraints.
	www.imf.org /external/pubs/ft/fandd/2001/06/mckinnon.htm (3066 words)

	The US Dollar Bear
		In many ways the US dollar has become the central linchpin of the entire global economy, including both financial markets and international trade, so it is difficult if not impossible to overstate the importance of the dollar to the world financial system today.
		While the US dollar spent all of the late 1990s, the bubble years in US equities, in a magnificent bull market, today the dollar languishes in a powerful primary bear market.
		When a primary dollar bear is combined with a brutal equity Great Bear and a coming bond bear once interest rates inevitably respond to the Fed’s massive monetary inflation, for my money the best place to park long-term capital today is in physical gold and quality unhedged gold stocks.
	www.zealllc.com /2003/usdbear.htm (3109 words)

	The Future of the Dollar
		The purpose of this version was to provide dollar holders with a form of guarantee on international reserves but at the same time does not eliminate the concern about the present system weaknesses.
		The French go on to ask what the supremacy of the dollar consist of, which relays a message that the dollar system is not all it is cracked up to be.
		International conditions have also contributed to the loss of value of the dollar.
	www.eco.utexas.edu /faculty/Cleaver/357Lsum_s3_Cooper_Future.html (1842 words)

	USATODAY.com - Tech stakes, strong dollar hurt international funds (Site not responding. Last check: )
		Diversified international funds invest most of their money in Europe and Japan, which were hard-hit by recession.
		International fund managers counter that as the global economy improves, overseas markets could recover more quickly than their U.S. counterparts.
		International fund managers also expect the dollar to weaken this year, which would increase the value of their foreign holdings.
	www.usatoday.com /money/perfi/funds/2001review/stories/international.htm (555 words)

	FRB: Speech, Meyer -- The Euro in the International Financial System -- April 26, 1999
		The international status of a currency involves a number of different functions that correspond generally to the classic uses of money as a unit of account, a means of payment, and a store of value.
		If the dollar is used in enough different ways in the international arena, then it is cheaper to use the dollar rather than some alternative--I will use the dollar simply because you and everyone I do business with uses the dollar--that is, there is a network externality associated with using the dollar.
		But the international financial consequences of the euro will be driven most importantly to the extent euro-denominated assets play a growing role in global portfolios, displacing to some degree the role of dollar-denominated assets.
	www.federalreserve.gov /boarddocs/speeches/1999/19990426.htm (2647 words)

	Grandfather Foreign Exchange Rate Report - summary page - by MWHodges
		Note the dollar's 2001-2007 down-tick vs. the Yen and Swiss Franc, and the strengthening of the Euro after its official launch January 2002.
		In the past several years many average citizens experienced large decreases in the dollar value of their stock market assets, due to huge market declines of a bubble economy that was pumped-up by soaring debt and erroneous claims.
		Several generations ago, the U.S. dollar was king, and the one who earned dollars felt like a king when he traveled.
	mwhodges.home.att.net /exchange_rate.htm (1676 words)

	Spartanburg SC \| GoUpstate.com \| Spartanburg Herald-Journal
		The international dollar is a hypothetical unit of currency that has the same purchasing power that the U.S. dollar has in the United States at a given point in time, i.e.
		The term, while not in widespread use, is sometimes used by international organizations such as the World Bank and the International Monetary Fund in their published statistics.
		Figures expressed in international dollars cannot be converted to another country's currency using current market exchange rates; instead they must be converted using the country's PPP exchange rate used in the study.
	www.goupstate.com /apps/pbcs.dll/section?category=NEWS&template=wiki&text=international_dollar (191 words)

	The World Dollar Standar and the East Asian Exchange Rate Dilemma
		The dollar rose from 51.3 percent of official holdings of foreign exchange (of members of the International Monetary Fund) in 1991 to 68.2 percent in 2001.
		The others' dollar pegs may drift a bit more when measured at low frequencies, but the variance in their dollar exchange rates is an order of magnitude less than that in the yen/dollar exchange rate.
		Dollar predominance in the international long-term bond markets-where U.S. Treasuries are considered to be the world's "risk-free" asset-provides a competing asset that inhibits the issue of long-term bonds, particularly those issued by the private sector in developing countries.
	www.oycf.org /Perspectives/16_033102/world_dollar_standard.htm (6481 words)

	The Case for the 100 Percent Gold Dollar - Mises Institute
		Thus, the “dollar” was defined as approximately 1/20 of an ounce of gold, while the pound sterling was defined as a little less than 1/4 of a gold ounce, thus fixing the exchange rate between the two (and between all other currencies) at the ratio of their weights.
		The dollar was defined at 1/35 of a gold ounce; the dollar, however, was only redeemable in large bars of gold bullion by foreign governments and central banks.
		It is not that the dollar was set equal to a certain weight of gold; it was that weight, just as any unit of weight, as, for example, one pound of copper is 16 ounces of copper, and is not simply and arbitrarily “set equal” to 16 ounces by some individual or agency.
	www.mises.org /story/1829 (14938 words)

	The Impact of the Euro and Prospects for the Dollar
		But in Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar (NBER Working Paper No. 12333), authors Elias Papaioannou, Richard Portes, and Gregorios Siourounis argue that the euro's rise to major international currency status may no longer be as implausible as many believe.
		Making various assumptions about the returns to holding the five main international currencies (dollar, euro, Swiss franc, British pound, and Japanese yen), they obtain the optimal portfolio composition of central banks' foreign exchange reserves for the 11 years surrounding the introduction of the euro in 1999.
		This suggests a major challenge to the dollar if more countries move away from managing their exchange rates with respect to the dollar and adopt euro-based anchors or baskets in which the euro figures strongly.
	www.nber.org /digest/feb07/w12333.html (821 words)

	Previewing 2007: Dollar Financial [Fool.com] December 29, 2006
		Since most international customers have access to banks, and revenues are derived primarily from check-cashing services, technological advances that continue to eliminate checks (i.e., direct deposit and electronic funds transfers) could have an impact on the business.
		Domestic and international expansion will prove to be the key to growth for the company.
		Dollar Financial was one of the industry's star performers, more than doubling in price so far this year.
	www.fool.com /investing/general/2006/12/29/previewing-2007-dollar-financial.aspx (636 words)

	Washingtonpost.com: Euro Squares Off With Dollar
		The greenback is used in more than half of all international trade and international borrowing, and it accounts for 57 percent of the reserves held by the world's central banks.
		The euro is likely to be used instead of the dollar for much of the commerce within Euroland and between the bloc and its major trading partners, such as Britain, Brazil and South Africa.
		For one thing, hundreds of billions of dollars currently invested in securities such as Treasury bills will be shifted to euro-denominated securities, according to Bergsten, who believes that as a result, the value of the dollar will fall sharply soon after the euro comes formally into existence.
	www.washingtonpost.com /wp-srv/inatl/daily/jan99/dollar1.htm (1076 words)

	A Currency in Decline: How Dangerous is the Dollar Drop? - International - SPIEGEL ONLINE - News
		Both consumer spending and the federal deficit kept the dollar high, because the rest of the world was practically scrambling to invest in the United States.
		Scheide expects the dollar to lose another 10 percent in value against the euro in the next five years, a scenario that would be much easier to handle for the German and European economies.
		The consequences of a declining dollar for the German and European economy will be determined in large part by the way other currencies develop relative to the dollar.
	www.spiegel.de /international/spiegel/0,1518,453906,00.html (2292 words)

	The Peril of our Dollar Standard
		The dollar exchange rate is a barometer that may give early notice of the crises to come.
		In these waning days of the dollar standard and the exciting new world of electronic means of payment, it is difficult to foresee the shape and color of the coming financial order.
		The precarious condition of the very dollar base and chronic foreign account deficits of the United States at the expense of all creditor countries are discrediting the dollar authorities.
	www.usagold.com /SennholzPerilDollar.html (2707 words)

	Forex News Update Weak dollar boosts international ETFs (Site not responding. Last check: )
		NEW YORK (AFX) - International exchange-traded funds have been strong performers this year, and their investors owe a debt of gratitude to the weakening dollar.
		The strength of foreign currencies against the U.S. dollar has often contributed as much to the performance of foreign-stock ETFs this year as has the strength of foreign companies.
		What's giving extra juice to these funds and the indices they track is the beleaguered U.S. dollar, which recently hit a 20-month low against the euro and a 14-year low against the British pound.
	www.forextv.com /FT/AFX/ShowStory.jsp?seq=190960 (834 words)

	The International Dollar Standard
		The world is on a de facto dollar standard, similar in some respects to the British pound sterling standard of the 19th and early 20th century.
		The dollar is the main currency in international capital flows, as well as the currency of invoice for commodities and for many manufactured goods and services.
		The international dollar is analogous to the fiat money that a central bank issues within its own monetary domain.
	wfhummel.cnchost.com /dollarstandard.html (640 words)

	FOXNews.com - Weak Dollar Boosts International ETFs - Business And Money \| Business News \| Financial News
		NEW YORK — International exchange-traded funds have been strong performers this year, and their investors owe a debt of gratitude to the weakening dollar.
		The largest international ETF is Barclays PLC's $31 billion iShares MSCI EAFE Index Fund, which follows the Morgan Stanley Capital International Europe, Australasia, and Far East index.
		What's giving extra juice to these funds and the indices they track is the beleaguered U.S. dollar, which recently hit a 20-month low against the euro and a 14-year low against the British pound.
	www.foxnews.com /wires/2006Dec04/0,4670,ManagingMoneyInternationalETFs,00.html (859 words)

	Weak Dollar
		If a home goes from $125,000 to $300,000, it has nothing to do with a weak international dollar compared to the yen or euro, but it is because there are so many trillions being printed, that they lose their value, due to huge supplies.
		A weak international dollar, compared to other currencies, might certainly be caused by inflation, and for all practical purposes is caused by inflation, among other things.
		Their dollar linked currency makes it a grand thing for selling to us, but it might possibly harm their trade with other nations, since the euro is strong, and their currency is weak, thanks to being linked to the dollar.
	www.gold-eagle.com /gold_digest_04/stott101404.html (1569 words)

	The Future of the Dollar - Newsweek: International Editions - MSNBC.com
		Meanwhile, the Fed was gradually making the dollar more attractive by raising rates in quarter-point steps, or a total of 1.75 percentage points over the year, to 4 percent.
		That added further stimulus to the dollar at a time when political chaos in Europe, from race riots in Paris and France's rejection of the EU constitution to the inconclusive outcome of elections in Germany, was undermining the euro.
		Asian central banks, which sell their own currencies for dollars to enhance their export competitiveness and account for more than half of the world's $2.5 trillion in foreign reserves, continued to be loyal dollar buyers.
	www.msnbc.msn.com /id/10513234/site/newsweek (924 words)

	The Dollar Crisis--And Why
		To understand what is at stake, we need to examine the history of the American dollar, and the international monetary system, which is underpinned by the U.S. dollar and was constructed in the middle of the last century.
		In the U.S., the dollar continued to be redeemable in gold until the Gold Reserve Act of January 30, 1934, prohibited the coinage of gold.
		The divorce of the dollar from a commodity base such as gold was a critical factor in the decline of America.
	www.realtruth.org /articles/234-tdcaw.html (3901 words)

	Data - Quick Reference Tables
		PPP GNI is measured in current international dollars which, in principal, have the same purchasing power as a dollar spent on GNI in the U.S. economy.
		Data are in current U.S. dollars, converted from countries’ respective national currencies using the Atlas method, which uses a three-year average of exchange rates to smooth effects of transitory exchange rate fluctuations.
		This is especially true of non-tradable services (haircuts are the example) which are assumed to produce the same level of welfare from one country to another, but which vary widely in their measured local price.
	www.worldbank.org /data/quickreference/quickref.html (983 words)

	What to do with your 401(k) investments? Foreign markets may merit a look - USATODAY.com (Site not responding. Last check: )
		If you don't own any international funds in your 401(k) portfolio, 2007 might be a good year to send more of your stock portfolio abroad.
		One reason to go international: The dollar has been falling against the euro since 2001, and many economists think it will drop further in 2007.
		Because most international funds are heavily invested in Europe, a dollar that falls vs. the euro would give them a boost this year.
	www.usatoday.com /money/perfi/funds/2007-01-05-foreign-markets_x.htm (1175 words)

	The Dilemma of the Dropping Dollar - Newsweek: International Editions - MSNBC.com
		From recent highs—reached in mid-2001 or early 2002—the dollar has dropped 38 percent against the euro, 23 percent against the yen and 25 percent against the Canadian dollar.
		Lonely Among the Bears: The relationship between deficits and the dollar is a red herring.
		And it is virtually impossible for the dollar to collapse when the United States is leading the world to higher interest rates.
	www.msnbc.msn.com /id/7170538/site/newsweek (902 words)

	AP Wire \| 12/04/2006 \| Weak dollar boosts international ETFs
		NEW YORK - International exchange-traded funds have been strong performers this year, and their investors owe a debt of gratitude to the weakening dollar.
		What's giving extra juice to these funds and the indices they track is the beleaguered U.S. dollar, which recently hit a 20-month low against the euro and a 14-year low against the British pound.
		The weak dollar boosts the U.S. value of overseas assets, and stocks are no exception.
	www.contracostatimes.com /mld/cctimes/business/16158929.htm (746 words)

	Alliance & Leicester International - US Dollar Savings
		Where the cheque is denominated in a currency other than US Dollars, the US Dollar equivalent amount, calculated by reference to the exchange rate applying on the date the funds are cleared, will be credited to your account.
		For US Dollar and Euro deposits, the equivalent minimum values to those shown in Sterling in the table forming part of this Clause, calculated by reference to current rates of exchange, will apply.
		For US Dollar and Euro transactions the equivalent minimum values to those shown in the table forming part of this Clause, calculated by reference to current rates of exchange, will apply.
	www.alil.co.im /us_dollar_savings_tc.htm (8706 words)

	[No title]
		The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued.
		The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of greater than 10 years and are publicly issued.
		The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 1 and 5 years and are publicly issued.
	www.amex.com /atamex/news/press/sn_Vanguard_041007.htm (477 words)

	AP Wire \| 12/04/2006 \| Weak dollar boosts international ETFs (Site not responding. Last check: )
		NEW YORK - International exchange-traded funds have been strong performers this year, and their investors owe a debt of gratitude to the weakening dollar.
		It's been a good ride, but it may be time for investors to take a look at how much in international ETFs they want to hold.
		Different investors come up with different answers, but one Vanguard study suggests investors may find the best balance between benefits and risks by putting 20 percent to 40 percent of their stock portfolios in overseas companies.
	www.ohio.com /mld/charlotte/business/industries/16158929.htm (746 words)

	No correlation between deficit and dollar = weasel words
		If we go way out there and assume the entire US is a company, and pretend that the US dollar is its stock, then we have another way to look at the international value of the dollar.
		In other words, if we back way off from the dollar and look at it from a 30,000 foot level as the stock of the USA itself, we need to figure out what would represent sales and what would represent expenses.
		In order for foreign entities to acquire dollar portfolio investments greater than the trade deficit, the foreign entities must borrow dollars from U.S. domestic lenders.
	www.nowandfutures.com /articles/20060630No_correlation_between_deficit_and_dollar_=_weasel_words.html (704 words)

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