Archive - Dec 2009 - Story

Gold hits $1,199.43 overnight, a whisper away from the limit cover orders at $1,200 that will take gold to the stratosphere and will prove to Sideshow Fred that gold is the real deal, and that the Fed has lost control of excess liquidity.

• No QE yet - Japan to provide more cheap loans, Y10 trillion worth (Bloomberg, AP)
• AIG reduces government borrowings by $25 billion, by giving gov't more preferred shares (AP)
• Support best podcaster on the web and vote for The Disciplined Investor (TDI)
• In wake of Dubai, trying to predict the next blowup (NYT)
• Sultan Sooud Al Qassemi: This is not the end of the road for Dubai (FT)
• Gross: The Lehman Brothers of the Persian Gulf (Slate)

RANsquawk 1st December Morning Briefing - Stocks, Bonds, FX etc.

The man who singlehandedly destroyed Iceland, will not rest until he keeps repeating the same failed Keynesian experiment hoping for a different outcome, thus defining, as Einstein would say, insanity. Being a former Fed member, we would expect nothing less of Mr. Mishkin.

• Australia raises interest rates by 25 bps to 3.75% as economy rebounds.
• Auto loan delinquency rate rises in 3Q but some states improve, hinting at recovery.
• Bank of Japan leaves benchmark interest rate at 0.1%.
• Bank of Japan said it will provide 10 trillion yen in short-term loans to commercial banks.
• China’s manufacturing grew last month at the fastest pace since April 2004- HSBC survey.
• Dubai, Abu Dhabi exchanges fall for 2nd day after Dubai World debt bombshell announcement.

RANsquawk 1st December Morning Briefing - Stocks, Bonds, FX etc.