Word: worthlessness
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Dates: during 2000-2009
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...hacks and Chicken Littles who are worried about the dollar. There are (at least) three good reasons to fret. First, the events of the past 14 months have made predictions of impending economic doom seem a lot more credible than they used to. When Faber forecasts not only a worthless dollar but also a "collapse of our capitalistic system as we know it today," it's impossible to dismiss him out of hand. Second, the data point that has dollar worriers most alarmed - burgeoning U.S.-government debt - is for real. Finally, the global monetary setup we've had since...
...says it will not publicly react to the verdict. "The CIA has not commented on any of the allegations surrounding Abu Omar," says spokesman George Little. But lawyers familiar with the Italian legal system say the 23 Americans need not fear incarceration. Magi's verdict "is worthless; it's only a judgment on paper," says New York criminal defense attorney Joseph DiBenedetto, who has defended clients who were indicted in Italy. "There's a lengthy appellate process, and between the legal and the political wrangling, [the verdict] will probably be whittled down and maybe even tossed...
Most Afghans, however, say the efforts at fraud prevention will be worthless if people don't turn out to vote. Safora el-Khani, a Member of Parliament from Bamiyan, the mountainous center of Afghanistan, points out that for many parts of her district, which is largely inhabited by a minority ethnic group, it is already too late. Winter arrives early in the mountains of Afghanistan, and heavy snowfall will make it impossible for voters to get to the polls or for ballots to make it back to Kabul for tabulation. "We will not have access to some polling stations...
...some point in the next five years. Because Hall made a bet oil would reach a price that few could imagine was possible, he was able to buy the contracts cheaply. It was a risky move. If the price of oil never reached $100, the contracts would expire worthless. Instead, when oil topped $100 in 2008, Hall's Phibro division made a bundle, far more than he would have made had he just bought oil, or one of the many oil exchange-traded funds (ETFs) that individuals and even some professionals like to trade. (Read "Why There Should Be More...
Within days of Lehman's failure, it was apparent that the market wasn't up to the task. There was a run on money-market funds after the Reserve Fund (which had pioneered the money-fund business in 1970) revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business. Similar dislocations played out around the world, and financial institutions became paralyzed by fear and confusion. They simply didn't trust one another anymore and didn't want to lend...