Word: dollarization
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...taking wild deer and selling them to deer breeders - game wardens arrested six Texas men on that charge in December. But bans against the sale of white-tail venison and the capture of wild deer have not deterred smugglers and rustlers eager to grab a piece of the high-dollar industry, echoing a time in the West when a man's wealth was measured in cattle...
...year high against the U.S. dollar last month. While the Japanese currency has weakened somewhat recently, Bank of Japan governor Masaaki Shirakawa said Sunday that currency-market intervention was possible if the yen's rise resumes. "The strong yen at a time of rapid decline in the global economy has a big negative impact on our economy in the short term," Shirakawa said. (See pictures of Japan and the world...
...primary concern is the financial health of major Japanese exporters such as Toyota, Honda and Sony. Many of Japan's most important companies are hurting as a result of collapsing demand and the soaring yen, which has risen 15% against the dollar over the past 12 months. A strong yen makes Japanese products more expensive, and hence less competitive, in overseas markets...
...value has hovered at around 90 to the dollar for the past two weeks. But currency experts predict it could climb to 85 over the next few months - a level that could trigger intervention by the Ministry of Finance and the Bank of Japan, which would buy dollars in currency markets to boost the greenback and undercut the yen. Some analysts say the exchange rate could soon reach 80 yen to the dollar. That would almost certainly spark another plunge in Japan's beleaguered stock markets - another concern for Japanese authorities...
Anticipating this problem, Vice President-elect Joe Biden announced last month that he will avoid the worst abuses of the political earmarking system. "Every dollar will be closely watched to make sure it's being used in an effective manner," Biden said. "I know it's the Christmas season, but President-elect Obama and I are absolutely, absolutely determined that this economic-recovery package will not become a Christmas tree...