Please, please, please let me get what I want this time........
At the end of the day, both China and Greece are signaling that a new round of deflation has begun in the markets. Stocks are bouncing today, but a tectonic shift has begun.
A bill that would allow non-accredited New Jersey residents to invest businesses within the state recently passed the Assembly 75-0. The bill now sits on Governor Chris Christie’s desk, ready for him to sign.
A serious deflationary bust is in the making...
Grant: "I am very bullish indeed". ”Recent fall in prices “terrifically vexing but a wonderful opportunity”; the reasons for owning gold have not gone away.
Greece has no future, so long as it clings to the euro. The dollar won't servce you much better. A drachma will only harm the Greek people. That leaves one other option.
Only a government employee could point to a 99.5% failure rate and declare it a success.
Some downward risk to the gold price remains due to the momentum of the recent severe correction in price. He points out that GoldCore had suggested on Bloomberg three years ago that a 50% correction in price was not unlikely at that time as is normal in long term bull markets.
For those who are speculating on the dollar—i.e. most people—there was good news. The dollar rose to 28.3mg gold. It’s a big gain, and welcome news for those who keep all of their eggs in the one dollar basket.
The unwinding of the US dollar carry trade will be particularly severely felt where leverage is highest!
Straight-forward discussion of next week's economic data and events, and why it is important for the dollar.