Dollar stability took another slight hit yesterday as it was reported by Bloomberg.com that China and Russia will begin trading the yuan and ruble directly. To date conversion into US dollars has been a required step in the process. Now, as these producing nations move toward greater efficiency in direct trades, the dollar will lose another position of significance. You can learn more about the planned transition by reading the article at Bloomberg.com. Here's a sample... Yuan Trading Against … [Read more...] about China Russia Squeezing Out Dollar
Fed chairman, Ben Bernanke, appeared before the Financial Crisis Inquiry Commission yesterday and has been acknowledged for his conciliatory tone. As the New York Times translated it, "...he was worried at the time about contributing to panic in the markets." And while it might be viewed that the central bank chief did concede that he failed to produce an effective solution, he put some spin on the ball stating that it was the result of "...failing to make it clear to Congress at a hearing … [Read more...] about Fed Head Wants More
Having a lot of money can open a lot of doors, especially when you crawl under the circus tent known as main stream media. For Jim Rogers, having a lot of money regularly opens the door to having a bully pulpit from which to rail against the central banks for their repeated failure to do anything beneficial for their respective economies. In a recent interview on CNBC, Rogers enumerates the myriad ways in which the US Fed Chair, Bernanke has proven incapable of doing anything effective. But I … [Read more...] about Jim Rogers to Bernanke: Stop The Printing Press!
Saturday's edition of The Wall Street Journal features an article about Austrian economics proponent, Peter J. Boettke, of George Mason University. While noting that Professor Boettke found his way into laissez-faire reality by way of an unlikely route, while seeking a career in the sport of basketball, the article goes on to tilt the scales toward promoting this century old and repeatedly proven idea of hands-off government financial practice as some kind of kooky scheme. Professor Boettke, … [Read more...] about Austrian Champion Evaluated
A report from the Wall Street Journal online relates a tough tone from Federal Reserve Chairman, Ben Benanke, at a meeting of economic policy makers today in Jackson Hole, Wyoming. He said "policy options are available to provide additional stimulus" should they be needed. This comes as the US Commerce Department reports a much lower growth rate in the GDP than previously predicted. For those watching the financial markets closely, it may mean even more drastic steps will be taken legislatively … [Read more...] about Fed Talks Tough
In an article for his web site, Jason Hommel's Silver Stock Report, Jason reports on the scale of total current demand for silver and argues why this is good for all parties interested in the precious metal. Drawing on statistics including those published by America's own mint, Jason lays out the surprising figures and makes a convincing case that this market has incredible upside. His bullish outlook should put a smile on the face of every individual holding silver now, especially those … [Read more...] about 1% of 1%