http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/11/12_Jim_Rickards.html
All Posts (10732)
http://www.guardian.co.uk/business/2011/nov/12/chins-threatens-us-with-new-debt-downgrade?CMP=twt_fd
http://www.zerohedge.com/news/sp-second-rating-agency-warn-it-will-cut-hungary-junk
We have been hearing a pretty consistent message from Federal Reserve officials which is that they are warming to the idea of an inflation or unemployment target. With the unemployment rate remaining at a “painfully high” level, the Fed is “focusing intently on supporting job growth” according to Bernanke. He then went on to say that the central bank has the latitude to set an inflation target, a notion that seems to be gaining support within the central bank by the day. Everyone agrees that the U.S. will not escape the turmoil in Europe and the volatility that it creates in the financial markets only adds further strain to the U.S. economy. At this point, there is an extremely good chance that the central bank will introduce an inflation and/or unemployment target in the coming month.
http://www.fx360.com/commentary/kathy/6501/usd-bernanke-preps-market-for-policy-change.aspx
Michael Noonan wasn’t handing over these vast sums of cash from a bankrupt nation to vulture capitalist gamblers because he thought it was a good idea. He was doing it because there was a gun to his head. The threat came from the European Central Bank and it was as crude as it was brutal: give the spivs your taxpayers’ money or we’ll bring down your banking system.
http://neweconomicperspectives.blogspot.com/2011/11/road-to-serfdom.html
Greek talks collapse, no leader yet
http://www.canadianbusiness.com/article/54869--an-ancient-idea-for-a-brand-new-bank
Balance of trade also needs consideration but to some extent UK and definitely USA is worse off. Click pic for more detail
Either way I see gold in a bull market and recent gains inline long term. Italy is worlds 3rd largest holder of gold bullion http://www.telegraph.co.uk/finance/commodities/8858493/Central-banks-top-up-gold-reserves.html
http://en.wikipedia.org/wiki/Gold_reserve#Officially_reported_gold_holdings
