Articles tagged with: Currency
Posted in Economics, Gold on 12 May 2010
The price of gold hit a new high of $1,247/oz today, beating it’s previous high of $1,226/oz. According to the Wall Street Journal:
“Gold’s strength indicates investors view the European Union and International Monetary Fund rescue package as a short-term fix that doesn’t reduce uncertainty on how governments will reduce their high debt levels.”
The gold [...]
Posted in Currency, Economics on 5 May 2010
One analyst seems to think it might happen. David Rosenberg, analyst at Gluskin Sheff, says the breakdown of the euro could well drive the price of gold to $3,000. Today the euro dropped to $1.28, and it is down over 12% from its high of $1.51 against the US dollar.
In a note to investors, Rosenberg [...]
Posted in Currency, Economics on 3 October 2009
Daniel John Hannan is a British politician (representing the Conservative Party) and a Member of the European Parliament. In this scathing MUST-SEE speech in March 2009, he tells the UK Prime Minister, Gordan Brown, that the UK has negative equity, has run out of money and that he’s a “devalued prime minister of a devalued [...]
China To US: “We Hate You, We Hate You”Posted in China, Currency, Economics on 6 September 2009
This is a quote from the video below,
We hate you, we hate you. You’re spending a trillion dollars and effectively devaluing your currency.
No wonder the Chinese government hates the US! They own a few trillion US dollars worth of currency and bonds and when we devalue our currency, they take a multi-billion dollar haircut. The [...]