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Frontrunning: February 19
- Euro's unity bid hits fine print in Greek debt drama (Bloomberg)
- China finds new ways to buy US debt (Globe and Mail)
- Rumors heat up in Europe that Goldman Sachs and John Paulson are waging attachs on Greece (LittleSis)
- Buyers fail to materialise for IMF gold (FT)
- Consumer prices rose 0.2% in January, core down 0.1%, wages did not (Bloomberg)
- We need 18 million new jobs in the next 3 years (Nation)
- Recessions sometimes take uneven toll (USAToday)
- Fortress said to need $150 million to keep olympic resorts from lenders (Bloomberg)
- Setting the stage for stagflation (Washington Times)
- Who pays wins, as Merrill, UBS Lure Bankers With Pay Increases (Bloomberg)
- Bond "sweet spot" in five- to seven-year debt (Bloomberg)
- Fed raises discount rate... More "unwind" in future? (EconomPic)
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Buyers fail to materialise for IMF gold
Fed raises discount rate... More "unwind" in future?
Gold trades higher anyway......think this IMF sale and rate hike might have something to do with short-coverning by the major bullion banks?
It's noon, and gold is up 1.5%, silver up 3%. So the announcements, along with Obama's threatening to raise taxes, were just another sucker punch to get dummies to short PMs so that the bullion banks could cover. And it certainly appears they are covering, doesn't it?
Unbelieveable.
Yeah maybe tonight right before the close they'll announce that gold causes erectile dysfunction.
Withdrawalgate?
http://www.futureofcapitalism.com/2010/02/citi-warns-of-withdrawal-gate
"Anonymous purchases made through unconventional channels would allow Chinese to remain biggest holders of American bonds"
Why the hell would China be interested in more US exposure? Get real, folks.
I don't believe my eyes. Gold up, equities down? Machine go boom?
Oh and for those of you who are keeping track, as of this morning gold is now considered a "defensive" asset, as opposed to a "risky" one.
http://www.businessday.co.za/articles/Content.aspx?id=94283
I'll let you know when it changes again.
Awesome..GS sets up "legal" hiding of debt with Greece, then proceeds to knock 'em down. Looks like a RICO case to me, time to seize assets. Maybe I am getting cynical, but it looks like one long con after another to me.
As many have pointed out, Greece went into this with eyes open and knew the hazards, and GS was doing business as usual within legal bounds. However these facts won't protect GS from political backlash from the EU. From their viewpoint the company was knowingly pursuing a course to the detriment of the Union for profit. You can't expect that to sit well regardless of legalities.
In the US the country's economic health is considered a national security matter. If it were discovered, for example, that a state such as California had been helped along the road toward bankruptcy with the help (and for the profit) of foreign banks, there would be strong criticism, if not outright accusations of financial terrorism -- even if it was all technically legal and aboveboard.
re; Goldman betting against Greece with CDS. Good for them but why are they able to access the Federal Reserve window???
Who is 'America's Most Innovative Company'? Anyone? Anyone?
Discount rate.....they raised the discount rate.....so what.
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