Barack Obama

Gold declined more than 1% Monday after Barack Obama said lawmakers had reached a deal to cut the country's deficit, which, if approved, would remove the threat of a default on debt.

The most-active U.S. gold futures fell more than 1 percent to $1,608.2, but recovered to trade down 0.9 percent at $1,616 an ounce by 0634 GMT.

Spot gold fell 0.8 percent to $1,613.24, off a record high of $1,632.30 set on Friday.

As a result of a compromise of a FoxNews.com Twitter account on Monday by hackers people were reported that US President Barack Obama died. Six false tweets were sent from the media source account informing that Obama had been shot dead, prompting an investigation by the Secret Service.

"Hackers sent out several malicious and false tweets that President Obama had been assassinated," Foxnews.com said in a statement about the latest in a wave of high-profile cyber security breaches around the world.

Timothy Geithner is considering to step down from his Treasury Secretary post later this year, however he won’t make any final decision until contentious negotiations over the U.S. debt ceiling are completed, report the sources with the knowledge of the matter.

After some speculations in the media Geithner answered the direct question about his resignation and made and evasive comment.

A new NBC News/Wall Street Journal survey revealed that about half of Americans with 2/3 of Republicans are sure the country is going into another recession. 54% of the polled said they disapprove of Obama’s handling of the economy.

“The public is incredibly pessimistic about the future,” said Peter Hart, the Democratic pollster who conducts the NBC/WSJ poll with his Republican counterpart Bill McInturff.

McInturff adds: “The president has substantial advantages, but is still in for a difficult race.”

The website of the US Senate was hacked last week, after which all the Senate website were checked for hijacking, reports the information agency Reuters.

The intrusion into the computer network of the Senate is the latest in a series of the so called “embarrassing” attacks that have happened over a recent period of time.

Speculations surface media resources that Secretary of State Hillary Clinton had discussions with the White House to leave her job next year to take the position of the World Bank President.

Earlier Clinton said she had no plans to stay at the State Department for more than 4 years. Rumors say Clinton expressed her interest in having the World Bank job if Robert Zoellick, current head of the bank, would leave his post in the middle of 2012.

"Hillary Clinton wants the job," said one source who knows the secretary well.

On Tuesday the US President Barack Obama talked to German Chancellor Angela Merkel and urged European countries to prevent a "disastrous" default by Greece. He promised that the United States would also provide its support as it fears the impact of euro crisis on its own economy.

Obama underlined the importance of German "leadership" on the issue. He clearly gave to understand that he expects Berlin to intervene.

While the US economy allegedly improves as the government takes in more tax revenue, the US budget doesn’t seem to be in a healthy state as the deficit is expected to exceed $1 trillion for a third straight year.

While many people around the globe gathered together on special squares to express their joy on the death of the Al Qaeda leader Osama bin Laden there were those who expressed their feelings on the Internet. Before the announcement made by the US President Barack Obama people learned the news from the microblogging service Twitter.

The news dominated the social networking site once it became official.

In a move to recollect young forces for its reelection Barack Obama made a campaign-style visit to the social networking company Facebook. Democrats believe that the US President will need again the same forces who supported him in his elections.

With his visit to Facebook headquarters Obama sought to connect to tens of millions of people who have adopted social media as a prime method of communications.

Barack Obama and leaders from both parties in Congress face a new chain of disputes and fights over the US budget as the state has escaped a potential government shutdown.

As Obama is to offer a long-term plan for deficit reduction on Wednesday, the White House and Congress start fighting over the 2012 fiscal year budget and raising the $14.3 trillion limit on government borrowing authority.

The fights are expected to dominate the political agenda overshadowing Friday's 11th-hour deal to cut $38 billion in spending for the final six months of this fiscal year.

The social networking company Facebook is looking to hire former White House press secretary Robert Gibbs for a senior post.

Once one of President Barack Obama’s closest assistants Gibbs is to help manage communications in advance of an initial public offering planned for early next year.

Gibbs, who left his White House job last month after a two-year stint, had planned to help establish Obama's 2012 re-election campaign before moving to the private sector.

Charlie Sheen gained strong media attention during past few weeks and topped all Internet and social media discussions since the beginning of 2011 outdistancing stirs about the iPad, Lady Gaga and US President Barack Obama, as shown by a survey released on Tuesday by the Global Language Monitor.

"Charlie Sheen...is everywhere. The growing pervasiveness of social media only enhances this global echo chamber," said Paul JJ Payack, president and chief word analyst for the Global Language Monitor.

Implementing immediate, deep budget cuts would hurt the fragile US economic recovery, warned the US President Barack Obama while Republicans pressed to reduce spending and expressed no interest to consider job loss concerns.

Obama’s budget for 2012 was strongly criticized by Republicans who demanded cuts now in areas such as education and space exploration. While Obama promised $1.1 trillion in deficit reduction over 10 years he still wants to invest in areas such as high speed rail and energy efficiency to boost U.S. competitiveness.

2010, the year of tiger was a multiple-valued year for every human being on the planet. It featured both dark and bright sides in political, economic and social aspects of the world development. With this year the humanity has shifted yet to another level of its success while it suffered not less losses and failures if compared to the past times. Let us make a review and recollect the top 10 noteworthy events and developments that impacted the world in the most critical areas.