Scanning Dead Salmon in fMRI Machine Highlights Risk of Red Herrings Wired
Meet the Afghan Army Ann Jones
G-20 Push on Banks Threatens Profits From Goldman to Barclays Bloomberg
Even With Growth, A Long, Hard Road Tim Duy
BIS regulator urges caution FT Alphaville
Obama to Tell the G20 to Fix the US By Changing the World Jesse
Congress Aims to Force Bank of America to Give Details on Merrill New York Times. Oh, I must confess I enjoy it when people in positions of influence trying to pull a fast one are caught out.
Call of the Wolf Julia Ioffe, The New Republic (hat tip Crocodile Chuck). On Martin Wolf, not the sort we usually feature in the daily antidote.
Jobless figures show demise of the slump may be exaggerated Guardian
Better house price numbers mask pain in most of the UK Independent
HSBC bids farewell to dollar supremacy Ambrose Evans-Pritchard, Telegraph (hat tip reader Don)
Reform or Bust Paul Krugman
Antidote du jour:
Hate to say that Ambrose is incorrect but he seems to be. Maybe HSBC just wrote a feel-good message for the Chinese.
For a a different view of China as a reserve currency see Michael Pettis on FT multimedia
Just think for a moment If the Yuan is the reserve currency then who does it peg to? Or will this make the Yuan de facto a floating currency? Can China afford this? Or must they still buy dollars?
And if they have to still buy dollars,and for other reasons, they still are not in control of their own destiny.
The Middle Kingdom is still not in the middle. The West still has the top hand.
Basically the Chinese can see that they have no options and they are cornered and enraged
a finance message for the times? –you too can be up a tree and sleeping peacefully.