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Brazil Joins Currency Intervention Brigade: To Tax Fixed Income, Stocks 2% To "Keep Real From Rising"
Developing story, but, surprisingly, not a dollar negative for once.
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i am more interested in what japan will do to prevent the yen from rising against the dollar
trade war?
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news
they gotta pay for all those olympics...good luck on that.
Another $2B for AIG
The aircraft leasing unit of AIG Inc. said Monday its parent company had provided another $2 billion in U.S. government-backed funds to meet short-term financing needs.
http://news.google.ca/news/url?sa=t&ct2=ca%2F0_0_s_0_0_t&usg=AFQjCNHQTBS...
While everyone else was screaming (rightfully so) about the back door money transfer from AIG to GS and friends earlier this year, I found it interesting that AIG owns International Lease Finance Corporation, the single biggest purchaser of new aircraft (which they then lease to airlines) from Boeing and EDS/Airbus bar none.
What do you think might have happened if ILFC had to delay or cancel some of that backlog Airbus and Boeing both say is stable? Particularly when airlines themselves are cancelling orders?
local markets are closed... USDBRL is bid 1% up OTC.
Looks like the Brazilian Treasury is empty... Last week they let out the idea of postponing part of the income tax refund (2009) into 2010. Didn't go well with the public and next years elections is a bitch. So they recalled the idea and went on to tax investments instead.
Love the smell of protectionism in the morning...
Gold loves this, for obvious reasons: it's a gunshot that the US will drag the ROW into competitive deval or at least competitive caps. Only way to maintain lids/caps is to print.
Heh.
yes I saw that too
Canada central bank threatening QE to help against uS weakness
Brazil taxing to keep capital flows out
Ben Bernanke - you are a beast; affecting every nook and cranny of the world. Real up 35% year to date!
"The central banks now find themselves in a conundrum. They can let inflation accelerate as they flood their economies with local currencies sold for foreign cash; or,
they can raise interest rates to keep prices in check and become even more attractive as carry-trade investors use money from countries with lower borrowing costs to buy...assets."
"The won has the best prospects and is the second-most undervalued of 16 major currencies as measured by purchasing power."
S Korea GDP = $929,124
http://www.bloomberg.com/apps/news?pid=20601103&sid=ag.uTNrelYfQ
The won as the new global currency reserve!?!?
The real maybe?
Get real!
The screws grow ever tighter!
Why don't tiny countries like inflation, again?
I Love gucci and chanel. Some women do not mind buying replica handbags, while some women just love designer handbags if you can distinguish between good and bed from the replica handbag?you also can use low price get high quality enjoy?today use chanel handbag ?tomorrow carry gucci handbag?the day after tomorrow hermes handbad in your hand? this niceness all give the credit to low price?same argument you also can buyreplica watches?buy DVDs louis vuitton...
The won has the best prospects and is the second-most undervalued of 16 major currencies as measured by purchasing power."
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