Gold News
In the United States, the modern Thanksgiving holiday tradition is commonly, but not universally, traced to a poorly documented 1621 celebration at Plymouth in present-day Massachusetts. The 1621 Plymouth feast and thanksgiving was prompted by a good harvest. In later years, religious thanksgiving services were declared by civil leaders such as Governor Bradford who planned [...]
On this day in 1989 the Berlin wall came down… and driven by popular consent Germany managed to take a bankrupt nation of 16 million people and turn their finances around within 2 years… Greece only has 11 mln, and it’s now been 4 years since those Southern Europeans have been in a state of [...]
Despite the main stream media’s insistence that the race was a close one the money, men always priced an easy Obama win – as such stock futures fell about half a percent while bond futures rose. While the result ended uncertainty about regulation and monetary policy, some remained on edge about taxes and overall economic [...]
Mr.Braddock: “Ben, this whole idea sounds a little half-baked.” Benjamin Braddock (Dustin Hoffman): “No it’s not. It’s completely baked.” (Change ‘Braddock’ for ‘Bernanke’ and you get the idea…) Half-baked policy is much like a soufflé – when to take it away from the heat? Recently the economic debate has been focused on future demand (or [...]
A Moodys fight back in the credibility credit market stakes – but their downgrading of Portugal (then Italy?) will no doubt only reinforce the resolve of the Authorities here. The timing was woeful being after European market hours but proving once again how the agenciesʼ news is currently moving markets. Now it is up to [...]
John Adams: The second day of July, 1776, will be the most memorable epoch in the history of America. I am apt to believe that it will be celebrated by succeeding generations as the great anniversary festival. It ought to be commemorated as the day of deliverance, by solemn acts of devotion to God Almighty. [...]
It was one of his most doveish interventions, Sir Mervyn King, the Governor of the Bank of England signaled on Wednesday that there would be no rise in interest rates until there was clearer evidence that the economy was growing and that unemployment and the interest rates actually paid by consumers were falling. And that [...]
And so to Greece….When is a Default not a Default? the question that Fitch seem too naive to understand as the Legal Teams start salivating over another round of huge fees that leaves Europe solvent as a unit despite Greece being insolvent. This seems to me to be the basic difference between Bankruptcy and Insolvency [...]
1. Bear Traps occur when fundamental news seems to contradict a recent trend, varying technicals, underlying sentiment etc…simply put: a short lived trading contradiction. Oil is in such a potential trap here with the release last week of a limited amount of SPR by the IEA – little doubt this was anything other than political [...]
Plenty of extended commentary once again over the weekend on the subject of Greece which continues to be a binary bet. As such July EUREX options are a fun place to be this week. 30/6 expiry (Thursday) puts us just past the mayhem of the street protests and the Governmentʼs vote for Austerity self-imposition. Given [...]
