Gold fell $28 or 1.73% yesterday in New York and closed at $1,591.60/oz. Gold traded sideways prior to another 1% fall in Asia but has recovered somewhat in early European trading and has made gains in euros and Swiss francs particularly.
Cross Currency Table – (Bloomberg)
Watch out for exchange controls in Switzerland this weekend.
News and headlines from the day
Fed governors regurgitate it time and again to rationalize their policies.
Plus, yet another cannibal...
China Cut Their Rates for First Time Since '08 & we all know what happened in 2008, right? As the momentum drivenvtrades ramped markets I placed Armageddon put (way OTM, material time value) puts on throughout the morning - for literally pennies
Dispel this farce...
The end game of this global monetary crisis is the imposition of a 100% digital monetary system that would permanently end what little economic freedoms we still retain today. Educate. Resist. Fight Back. Win.
News & headlines from the day
An uplifting story of austerity and growth at the edge of Eurozone mayhem.
Greece Gets "Corzined" In Its Fruitless Pursuit of Euro Unity, Sans Its Own Sovereignty As Simple Arithmetic Sets In AgainSubmitted by Reggie Middleton on 06/06/2012 10:57 -0400
The PIIGS will pop! I directly & explicitly compared the plights of Greece vs Spain 2 1/2 yrs ago before anyone even publicly admitted Greece would have to default, not to mention Spain!!!
While the WSJ article on the Fed paints a picture of controversy enshrining the usual hawk Vs dove sort of frame work ( or is that Hatfields Vs McCoys? Montague Vs Capulet)… what strikes me is the sense of agreement I get in reading this thing. Everyone at the Fed is on the very same page. John Hilsenrath is correct in concluding that there is a policy dilemma, but he does not connect the dots and say that it is a dilemma without much consequence. Yet it is quite clear that even those who would like the Fed to do more, are very disappointed with the results from what they already have done. If you ordered dessert and it was bad would you order more? The Fed would.