Word: recentered
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...That same aspiration is gaining traction in the defense departments of many Western nations. Frustrated by the vulnerability of long supply lines in recent conflicts - and aware that in an end-game global war the countries holding the bulk of the world's oil and gas may not prove to be allies - Western militaries are in search of new alternative fuel sources for their tanks, vehicles, planes and ships. (See pictures...
...that message has been passed on to industry and research institutions. A recent DOD acquisition directive requires the military to consider the "fuel burdens" of new technology, while a special office inside the DOD monitors alternative energy efforts at U.S.-based universities and institutions with an eye to awarding funding. DARPA was recently given $100 million for a research project into alternative fuels. (See TIME's special report on the environment...
...There's little doubt the coin is in good shape. A series of interest rate cuts in recent months "are starting to work in a way they aren't in other economies," says Dale Thomas, head of currency management at London's Insight Investment Management. That makes it unlikely Norway's central bank will need to revert to quantitative easing, the modern-day equivalent of printing money that's currently in fashion from the U.S. to the U.K. (See pictures of the printing of money...
Investors keen to protect their precious cash have sought security in all the usual places in recent months. The U.S. dollar, the Swiss franc and the Japanese yen - each with a history as a safe haven - have all provided homes for nervous depositors' cash. But as the economies of those three countries flounder, it's time to look around, and smart investors think they've discovered a new harbor to protect them from the choppy economic seas. "The best safe haven currency," analysts at banking giant HSBC wrote in a research note this month, is Norway's. According to HSBC...
...Bank announced March 12 it would dump francs in the first such move by a major central bank for years. The move was enough to cut 3% off the currency's value against the euro; since then, the franc's fallen further still. Even the greenback, which rallied in recent months, stands at its lowest level against the euro since early January following the Fed's announcement last week that it would spend some $1.2 trillion on government and mortgage bonds, flooding the markets with dollars...