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...billion. News of the purchase sent gold prices to an all-time high. The move was widely seen as part of an effort by central banks around the world to diversify their extensive U.S. dollar holdings. Steven Englander, chief U.S. currency strategist at Barclays Capital in New York City, figures that in the second quarter, dollars accounted for only 37% of new reserves accumulated by central banks worldwide. That's the lowest proportion on record for any quarter during which reserves increased significantly. At a time when many central banks are boosting their reserves, they are choosing to buy euro...

Author: /time Magazine | Title: Is the Dollar Dying a Slow Death? | 11/6/2009 | See Source »

...this narrative doesn't hold up even in that New York congressional district, let alone in the rest of the country. Scozzafava was not a moderate Republican. Her support for same-sex marriage and her stance on unions put her to the left of many Democrats in Congress. Several moderate Republicans, such as former governor George Pataki, endorsed the Conservative Party candidate, Doug Hoffman. Anyway, Hoffman lost so narrowly as to suggest that a conservative could have won under slightly different circumstances. (See pictures of Republican memorabilia...

Author: /time Magazine | Title: The Rebirth of the Republican Middle | 11/5/2009 | See Source »

...afraid the 2012 race is starting up already - are not running hard to the right, at least so far. Mitt Romney has refrained from throwing himself behind the momentary passions of the party's base, for example, by staying out of the conservative-moderate fight in New York. Tim Pawlenty felt obliged to endorse Hoffman, but he has successfully governed a Midwestern state that has a strong liberal tradition. Sarah Palin, on the other hand, has been playing to the base and has the low poll numbers with moderates to prove it. But she was not a particularly doctrinaire governor...

Author: /time Magazine | Title: The Rebirth of the Republican Middle | 11/5/2009 | See Source »

These tensions are well within the boundaries of normal, creative policymaking. There is absolutely no indication that the Secretary is frustrated to the point of jumping ship - or returning to politics as a candidate for governor of New York, as has been rumored. Quite the contrary, she seems intent on making history as Secretary of State. To do that, though, she will have to have the same authority at home as she has abroad. She will have to become the President's primary foreign policy voice. Over the first nine months of the Obama Administration, seven different Obama officials have...

Author: /time Magazine | Title: The State of Hillary: A Mixed Record on the Job | 11/5/2009 | See Source »

...facts on the ground, experts say, do not fully support Beijing's claim. "China is trying to impose this idea of a coherent nation-state," says Gray Tuttle, professor of Tibetan studies at Columbia University in New York. "But it is basing its claim on a premodern cultural world where there was nothing like a modern state." Not only was Chinese control over Tibet thin until the 1950s, but Tibetan rule over Tawang was nominal as well. Beyond the appointment of certain abbots in monasteries and the occasional payment of taxes to Lhasa, the people living there...

Author: /time Magazine | Title: Beyond India vs. China: The Dalai Lama's Agenda | 11/5/2009 | See Source »

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