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The latest data from the People''s Bank of China showed that the central bank did not purchase any gold in October, ending a consecutive 10month buying spree. According to data released Thursday, the Chinese central bank''s gold reserves held steady at 62.64 million ounces in October.
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China directly affects the U.S. dollar by loosely pegging the value of its currency, the yuan, to the dollar.China''s central bank uses a modified version of a traditional fixed exchange rate that differs from the floating exchange rate the United States and many other countries use.
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James Howard Kunstler Editorials: A Fraught Moment: The last time the Democratic Party blew up in a presidential election year was 1860. It had evolved from Jefferson''s 1800 bloc of yeoman farmers to Andrew Jackson''s rowdy caucus of frontier populists in the 1830s, and settled into a slough of proslavery apologists by the 1850s, including two donothing Democratic presidents, Pierce and
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