CNNMoney – “After shedding almost a third of its value over the past decade, the U.S. dollar has exhibited a few sparks of its former glory in recent months. Spooked investors have moved back into the greenback amid fears that Europe's debt crisis could turn into a full-blown meltdown. But beware, say many experts: The surge is merely a blip in a weak-dollar trend that still has years to run. And that argues for parking at least a modest portion of your savings in foreign currencies with more solid fundamentals.”

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China Daily – “…Investing in euro-denominated assets allows China to diversify risk away from the US dollar. The Chinese government and monetary authorities have, in fact, expressed growing disaffection for the loose monetary policy of the US Federal Reserve.”

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China Adds Japanese Debt for First Time in 10 Months Amid Global Turmoil [Bloomberg]

Benzinga – “So gold did not go to $2,000 an ounce by the end of September as was discussed last month, but that does not mean it will not get there, eventually.”

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CNBC – “"Europe has a few bad, bankrupt states, so does America. We've got Illinois which is bigger than Greece, we've got California, we've got New York, you know those are pretty big states that have serious economic problems. We have pension plans in America that are terribly under water," Rogers told CNBC on Tuesday.”

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MarketWatch – “Federal budget deficits and balance-of-payment deficits have radically increased since World War II. Today’s dollar has lost 85% of its value since 1971. Relative to gold the dollar has lost 96% of its purchasing power.”

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