China walks the walk… red nation agrees to major shift away from dollar reserves… Gold soars… Frank Holmes with a historic reason gold should keep rising… You know Peak Oil, but Peak Stimulus? Chris Mayer offers a compelling chart on government intervention… Dark data: Service sector, retail, jobs all disappoint, plus a shocking stat on student debt…

Say goodbye to the US dollar as the world’s reserve currency. Writing in the Washington Post, Nobel Prize-winning economist Joseph Stiglitz says America’s massive deficit means a new global reserve system is approaching.

Currencies rally…  More on the BRIC’s…  New Zealand’s GDP contracts..  Bernanke gets grilled! And Now… Today’s Pfennig!

When rumors of the Swiss central bank again intervening to drive down the value of the Swiss franc hit the world’s currency trading desks late last week, it underscored just how hard global governments are fighting against the strong currencies that can derail exports while also blunting consumer demand at home.

China calls dollar into question… why the red nation wants a new “international reserve currency”… Stocks boom… what happened the last time the Dow jumped 18% in 10 days…A smart way to solve the housing crisis… that will never survive Washington… Plus, signs of the times: UAE buys chunk of Mercedes-Benz, and a quiet change at AIG

Louis Basenese says those calling the death of the US dollar as the world’s reserve currency are forgetting one vital detail: there is no alternative right now. In addition, more global rate cuts, de-leveraging and uncertainty should sustain the current dollar rally for a while longer. Louis selects three ways to profit from this trend.

You can’t cure a bubble by reflating it, says Bill Bonner. But that won’t stop the Obama administration from trying. Bill says we should get ready for trillion-dollar budget deficits, huge infrastructure programs, and bailouts for “brain dead” businesses. But none of this will be able to stop the economic correction that has to happen.

Interest rates are set to rise next month!

You can’t got to bed these days without waking up to higher prices for everything. Crude futures in New York hit nearly US$130 overnight, and now everyone is wondering what’s next. US$150? US$200.

By bailing out Wall Street and applying “band-aids” to the economy, the U.S. Federal Reserve may well be causing its own downfall – even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during an exclusive interview.