• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Daily US Opening News And Market Re-Cap: July 13

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Wed, 07/13/2011 - 08:06 | 1451073 oogs66
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the circular reasoning by moody's on italy is great....italy is okay because it has mkt access, but if it doesn't have mkt access we downgrade them, making it even more difficult....what a slippery slope

Wed, 07/13/2011 - 08:19 | 1451096 66Sexy
66Sexy's picture

With all the abstraction in currencies now, even high governments cant define what money is. Debt itself is collapsing as a currency, because there is no backing for it. Enforcement is slipping away into willfull indentured servitude (IMF), which will ultimately fail.

The populations of the world define money as gold and silver; therefore a bottom up dictate will be forced to emerge at some point.

A significant gold/silver holding will be necessary for any new international currency introduction, this is unavoidable.

Wed, 07/13/2011 - 08:13 | 1451090 TradingJoe
TradingJoe's picture

We'll close in the red today! And keep doing that until the "debt ceiling" will be raised! Then a nice pop followed by ... well who knows, another QE "program"?! Or ... ah who cares!

Wed, 07/13/2011 - 08:19 | 1451104 RichyRoo
RichyRoo's picture

are you fucking asleep? gold hit all time intraday high 1578.61USD/oz 10:19pm 20110713AusEST

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