U.S. Dollar Falls Sharply Across The Board: The U.S. dollar fell sharply against most of its major rivals on Tuesday, as commodity prices and global equities posted gains UN Says New Currency Is Needed to Fix Broken ‘Confidence Game’ : - The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said. Top Chinese official signals move away from dollar: The Chinese are becoming increasingly wary of the growing supply of U.S. dollars, leading the head of the nation’s green energy initiatives to signal a move away from dollar reserves and toward, gold, euros and yen, according to a published report. 4 Signs that China is Moving Out of the Dollar: The U.S. Treasury Department revealed that China actually REDUCED its note and bond holdings by $25 billion in June. Although China did NOT sell shorter-term Treasury bills — and isn’t expected to — it’s still the largest amount of Treasuries China has ever sold in a single month. More US wealthy opt to surrender their citizenship: As offshore havens comply with transparency demands, a growing number of ultra-wealthy Americans are handing back their passports Fed: Consumers Slash Debt by Record $21.6B in July: The Federal Reserve reported Tuesday that consumers ratcheted back their credit by a larger-than-anticipated $21.6 billion from June, the most on records dating to 1943. Van Jones decries 'lies and distortions,' quits as Obama's environmental advisor: Jones says he has become a distraction to the administration's healthcare agenda because of his videotaped insult of Republicans and his signature on a petition suggesting a 9/11 conspiracy. Obama: Health insurers must profit: Reforms must not stop insurers from making money, US president tells union members. Plan Allows for Fines Up to $3,800 for Failing to Get Health Insurance: A top senator is calling for fines of up to $3,800 on families who fail to get medical insurance after a health care overhaul goes into effect.
US seeks Arab alliance against Iran: Washington has asked Arabs countries to form a military alliance with the United States in an attempt to impede the Iranian nuclear drive.
Official: Russia, China scuttled bid to slap more sanctions on Iran: Russia and China have rejected a proposal by the United States, Britain, France and Germany to impose more sanctions on Iran should a dialogue over its nuclear program fail, a senior official in Jerusalem said.
Venezuela set for gasoline exports to Iran: Venezuela has joined a small group of exporters willing to defy Western pressure by exporting thousands of barrels of gasoline to Iran, officials say.
Hundreds flee clashes in Gabon: Three people have been killed in Port Gentil, the country's oil hub, in the violence and the government is contemplating using emergency powers if the unrest does not cease, Jean-Francois Ndongou, the interior minister, said.
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