Gold is trading up $14.50 @ $1,616
Comments »Monthly Archives: July 2011
Petrobas Looks to Raise $91 billion
Swiss Franc Hits Record High Against the Dollar
“Speculation” or Investment Rises in Commodity Funds
Fund managers and “speculators” increased their net long position in commodities by 16% in July.
Comments »JPM Estimates $100 Billion in BP Break Up Value
European Markets Pare Gains on Moody’s Downgrade of Greece and Debt Ceiling Malaise
Bank of PIIGS helped to halt the rally and take the markets off their highs.
Comments »Aussie Dollar Now Seen as a Safe Haven Currency
Seems to me that it has been a safe haven for a while now. Commodities are losing their luster and currencies are emerging as a place to hide ones money.
Comments »Oil Falls in Overnight Trade
Europe Ignores US Debt Ceiling Crisis
Euro markets are down just 0.2% and S&P futs
are recovering, down just 10.
Moody’s Downgrades Greece Again
Who gives a shit already?
Comments »Navigating Shark Infested Financial Waters
While this article has its points it is not fair to say all the blame lay with big banks and Wall st. But predatory lending is nothing new.
Comments »Train Fun: Woman Half Nekkid
Top 10 Facts About America’s Financial Condition
Recently we had a post on Poverty in America and how many people at or below the poverty line had XBoxes, air conditioning and other luxuries no generation b4 them had.
Here are some stats that will make you think twice about what it means to be struggling financially.
For the record our poor citizens are still wealthy compare to that of the really poor in say third world countries, but when have we really been concerned with that comparison ?
Comments »Is Gold the Answer to Our Problems ?
It has been suggested many a time that we need to go back to a gold standard. Of course this would create more confidence in our currency, but some are saying it would force us to balance our budget.
An odd offshoot to this story is that Lehman Bros. was speaking and proposing this idea b4 the debacle. It seems this may have had some influence, at least in my mind, on not bailing out Lehman.
Comments »China and Iran Leave the Table With an Oil Barter
China was barred by the U.S. from giving U.S. dollars for oil to Iran. This is a way around this. The bigger implications behind this story are that we may be seeing the beginning of oil being sold for something other than dollars. The more this progresses the more the dollar becomes vulnerable to not being used in the purchase of oil.
That may mean more dollars in circulation than needed; not good for a fiat currency in a world where only dollars are used to purchase oil.
Comments »For Your Own Safety: Forget Case Ready
Asian Markets Sink on Debt Ceiling Ineptitude
BREAKING: S&P Futures Gap Down Over 1%
Click on the the chart to enlarge…
Comments »Futures Drop 1%, As Congress Fiddles
Congress has surprised Wall Street again through sheer ineptitude. As a result not coming to a consensus on a debt ceiling deal, S&P futs are down 11.
Comments »FLASH: NO DEAL
Rep Boehner will tell house members there is no framework or a deal at 4:30pm press conference.
Comments »