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MERKEL? 0 CREDIBILITY
How to crash the price of gold:
(short answer, you can't)
An announcement that downside risks have intensified, and that both lower growth and lower inflation will be forecast pretty much flies in the face of continued tightening.
I guess they think the Swiss backstopping will do (for now).
Good Citzens of Metropolis!
We're all completely fucked.
Even Batman can't save us!
But what's a boy to do?
Hmmm, wonder what page of, "Bernanke's QE for Dummies" Trichet's on. Or...perhaps he just picked up the Cliffs Notes version and is winging it.
"...very ill-timed decision to start tightening from 6 months ago..."
raising rates was the right thing to do....it's counter-intuitive to the keynesian-monetarist mind....lowering interest rates destroys capital and is the economic equivalent of blood-letting and voodoo...
Good point (and that's an understatement), and the fact that they're not lowering indicates that they're not too worried about downside risks, deflation, etc. (I would think). So now let's see what the future brings and whether they were right or wrong.
Again, good point.
you are gonna make janus a RICH man, TD.
and he will NEVER forget it.
sage and prophet, he is.
just read it again...GBP has no choice but to mega-QE -- announce today, tomorrow, whenever...i guess it's best to annouce it by the 100+billion pound installments, no? don't wanna drag this out, might make for political problems...
No. 10, exchequer, ect. yer all so royally (no pun, limeys) fucked. but, i guess not as bad as those twits across the channel -- it's all relative...especially now that the SNB has forced your hand.
or are you all just going to give into gold at the very time you've run out of it?
again, so royally fucked!
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