1844-2009 : un cycle monétaire est clos, par Jean-Marc Daniel Le Bank Charter Act anglais de 1844, en organisant la convertibilité de la livre en or, a initié les mécanismes monétaires contemporains. Cette loi a aussi permis à la monnaie britannique de devenir la devise de la révolution industrielle, c'est-à-dire d'être reconnue internationalement, de servir de référence pour la fixation des prix mondiaux, et de moyen de transaction lors des échanges. Mais le cycle amorcé en 1844 a trouvé dans la crise actuelle comme un aboutissement. En effet, le monde a épuisé durant ce siècle et demi toutes les combinaisons offertes par ce que l'économiste américain Robert Mundell a nommé "le triangle des incompatibilités". Le Monde Gold ends above $1,100, hitting record Gold futures closed above $1,100 an ounce Monday for the first time, as the dollar fell to a 15-month low and investors kept piling into bullion on expectations other central banks would buy the metal as a reserve unit. Gold for December delivery, the most active contract, climbed $5.7, or 0.5%, to $1,101.40 an ounce by the close of floor trading on the New York Mercantile Exchange's Comex division. Market Watch China's Wen urges U.S. to keep deficit at 'appropriate size' Chinese Premier Wen Jiabao on Sunday exhorted the U.S. to keep its deficit in control to stabilize the U.S. dollar exchange-rate, according to media reports. "I hope that as the largest economy in the world and an issuing country of a major reserve currency the United States will effectively discharge its responsibilities," Wen said at a news conference in Egypt, according to wire reports. Market Watch No plans for Afghanistan after 2011, top general affirms The Canadian military has no plans for troops to stay in Afghanistan beyond the summer of 2011, despite recent suggestions that soldiers could take part in training or support roles, says the Canadian Forces' top officer. Chief of the Defence Staff Gen. Walter Natynczyk said Friday he has not made any recommendations to the government about a new role for the Canadian military and, until he's told otherwise, he is strictly following the parliamentary motion that outlines a troop pullout by July 1, 2011. Calgary Herald Merk Investments: Fed and ECB on different planets? The contrast between the Federal Reserve's (Fed) statement on Wednesday and the European Central Bank's (ECB) press conference today shows how the Fed imposes its credibility on the markets, whereas the ECB is earning it. The Fed will look for "low rates of resource utilization, subdued inflation trends and stable inflation expectations" to keep interest rates low. Resource utilization is likely to remain low, so that's not a factor. Secondly, inflation trends will quite likely inch upwards as year-on-year comparisons will be tougher. Merk Funds Unemployment in U.S. Jumps to 10.2%, Payrolls Fall The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain near zero. Payrolls fell by 190,000 workers last month, compared with a 175,000 drop anticipated by the median forecast of economists surveyed by Bloomberg News, figures from the Labor Department showed today in Washington. The jobless rate gained from 9.8 percent in September and exceeded 10 percent for the first time since 1983. Bloomberg 'We are much worse off than the car industry' "The politicians in Brussels live in their own world and are not aware of the problems in the truck industry", said Leif Östling, CEO of Swedish truck manufacturer Scania, when meeting EU officials in Brussels. Swedish Wire