The head of Greeces central bank says a return to the drachma would be disastrous; it would mean a 60-70% devaluation. He says hes certain Greeks would not allow such a scenario. read full news Published: Sat, 31 Dec 2011 06:49
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Monthly Archives: December 2011
Why Britain should think about doing things the German way
Four years ago I attended the opening ceremony of BMW Welt in Munich. This sensational vortex of a building is where you go should you feel like a little Freude am Fahren (Joy in Driving, BMW’s slogan) to collect your gleaming new German car. With its bars, music, art and apfelstrudel, this… read full...
Europe’s Debt Woes Prove Boon for U.S. Treasuries
U.S. Treasuries advanced for the fourth consecutive day on Friday as Spains new government moved to increase taxes and reduce spending to tackle a larger-than-forecast budget deficit. Hot Feature: Payroll Tax Cut Diverts Funds from Fannie and Freddie Though recent reports signal the U.S. econ… read full news Published: Sat, 31 Dec 2011 05:49
Delusions of the Euro Zone
Since its inception, the euro zone has been built on lies, the most grievous of which is the idea that the common currency could work without political union. But Europe’s politicians are currently suffering under a different but equally fatal delusion — that they have all the time in the world to… read full...
Commodities Poised for Annual Decline
Commodities (SPGSCITR) headed for the first annual drop since 2008, paced by declines in cotton, copper and cocoa, on concern that the European sovereign-debt crisis and a cooling Chinese economy will sap demand for raw materials. The Standard & Poors GSCI Total Return Index (SPGSCITR) of commo… read full news Published: Sat, 31 Dec...
US Dollar Projected to Outperform in 2012
The Euro looks poised to close out the year below 1.3000 after dropping to a fresh 2011 low by 1.2858 on Thursday. The bearish close is rather appropriate in the grand scheme of things considering the Eurozone crisis was at the center of all things troubled in 2011. Although most market participants… read full...
9 Mistakes That Almost Broke The Whole Financial System In 2011
It’s no question that 2011 was a difficult year for markets, corporates, governments, and pretty much anyone with exposure to Europe. But the year was only made worse by errors and some insanely poor decisions that made investors question the people running those same companies and governments. … read full news Published: Sat, 31...
Iran-US brinkmanship over oil strait worsens
A showdown between Iran and the United States over Tehrans threats to close the strategic Strait of Hormuz to oil tankers worsened with warships from each side giving weight to an increasingly bellicose exchange of words. Irans Revolutionary Guards rejected a warning that the US military would … read full news Published: Sat, 31...
Wicked moves at the top of the hour
EUR/CHF just fell to 1.2148 (a great level to buy IMO) USD/JPY plunged below 77.00 AUD/USD surged to 1.0246 EUR/JPY back below 100.00 Its clearly something to do with the top of the hour/fixing USD/CAD has held steady at 1.0182 but if this holds up, it should fall. read full news Published: Sat, 31...
Dollar Still King Of Reserve Currencies – IMF COFER Data
Central banks across the world increased their share of dollar-denominated holdings in the third quarter, data from the International Monetary Fund showed, as they simultaneously lightened their share of euros. Despite continuing concerns about the U.S.’s massive fiscal imbalance that led to the … read full news Published: Sat, 31 Dec 2011 01:49