Word: dollarization
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Dates: during 2000-2009
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...high court saying the law banning polygamy violates the country's freedom of religion clause. Winston Blackmore, the group's self-described "Bishop of Bountiful," is pleading poverty due to a downturn in the community's sawmill business and is asking the Canadian government to foot his million-dollar legal bill...
...president's deadline is more vague. "By the end of this year," Obama said after Reid's announcement, adding, "I want it done by this fall." But in Washington there is considerable worry that a month-long recess in the company of constituents worried about trillion-dollar deficits could sap whatever momentum remains for sweeping reform. Obama warned legislators not to lose their steel. "Sometimes delays in Washington occur when people just don't want to do anything that they think might be controversial. You know what? That's not how America has made progress in the past...
...result of the sparring, the value of the minimum wage in real dollar terms has risen and fallen on political tides, peaking in 1968 when an hour's pay bought nearly 5 gal. (19 L) of gas. By 2006, it paid for less than 2 gal. (8 L); meanwhile, some states raised their own standards (Washington mandates $8.55 an hour). Thirty-one states will have to increase their minimum wages as a result of the July 24 increase, while 19 states and Washington, D.C. already had a minimum wage of $7.25 or higher...
...Kenya, a country where 40% of people live on a dollar a day, mobile phone operator Safaricom recently unveiled a deal that gives average consumers one gigabyte of data (only enough to satisfy the lightest of web surfers) for about $32 - and that was touted as a bargain. Other firms offer unlimited but extremely slow Internet connections, barely capable of making Skype calls, for about $40 per month. "No one can [guarantee] there will be a 90% drop next year, but hopefully there will be," says Christopher Stork, senior researcher at Research ICT Africa, a technology analysis firm based...
...there signs that China is ready to ditch the dollar. Derek Scissors, a research fellow at the Heritage Foundation's Asian Studies Center, points out that Chinese official holdings of U.S. Treasury bills have increased by 50% in the past 12 months, as China continues to invest its ever increasing stash of dollars. "Cheap talk aside, China is actually the biggest supporter of the dollar," says Scissors. "It has no choice." Don't expect to change those greenbacks for redbacks anytime soon...