Bernanke speaks on Wednesday, justifying dollar debasement; The FOMC (Open Market Committee) released their statement at 12:30 pm. The dollar promptly tanks, and wholesale prices rise commensurately. U.S. Dollar Index: Meanwhile, former (Bush II) Treasury Secretary Paul O'Neill makes this statement Wednesday during an interview on Bloomberg: "I think the people who are threatening not [...]
Full Disclosure: I own stock in this company (PAAS). This is not investment advice, and I am not a financial professional. You should consult a licensed investment professional before investing any money in anything. Bloomberg reports: Pan American Silver Shifts Assets to Canadian Dollars Pan American Silver Corp., the world’s fourth-largest silver producer, said it’s [...]
It's undeniable that modern economies run on energy and that oil is one of the more useful forms of energy. One of the principal values that still undergirds the value of the U.S. Dollar is the fact that the major Middle East nations still sell oil priced in Dollars. You might not know that Russia [...]
There's a lot happening, so this installment is teasers and links to several important financial news items. Bloomberg: Bernanke Asset Purchases Risk Unleashing Inflation (Update1) Bernanke next week is likely to preside over a decision to launch another round of large-scale asset purchases after deploying $1.7 trillion to pull the economy out of the financial [...]
One of the roles of the "world reserve currency" is its use as a primary currency of choice in settling international trade. This literally means that foreign trade, even between non-U.S. trading partners, is settled in U.S. Dollars. This is done advantageously by both trading partners; by the purchaser because dollars are readily available, and [...]
Yesterday, on Katie Couric's show, New York Mayor Michael Bloomberg "speculated" that the terrorist who tried to bomb Time Square was "someone with a political agenda that doesn't like the healthcare bill." In other words, he was trying to blame the Tea Party movement and the patriotic Americans who stood up and fought against this [...]
