Global Market Commentary, Analysis and Investments
After Tuesday’s beat-down and Wednesday’s recovery, precious metals are holding steady. At last check, gold is at $1,598.
Of course, the short correction brought with it the usual cries of “bubble” in the gold market. Even here in our own household, we fielded questions on the subject…
[Read more...]Another day, another leg down in stocks and commodities. And once again, it’s driven by news from here in China.
But if you’re a precious metals investor, things are happening here beneath the surface that should give you cheer. Let’s dive in…
China has raised its reserve requirements for banks yet again. It’s the fifth time this year, and the eighth since last October.
[Read more...]GoldSeek.com had the Reuters news report with the headline “China Adviser Says Beijing Should Buy More Gold.”
Now, of course, we are all saying, “This is exactly what The Incomparable Mogambo (TIM) has been advising the Chinese to do, and what everyone should do, too, and buy silver, too!” which rhymes, so you know that it must be true, which also rhymes, although, in describing it, it doesn’t, sort of like the Heisenberg Uncertainty Principle for no particular reason, which just shows how Very Freaked Out (VFO) I am by the satanic Federal Reserve continuing to create trillions of dollars even as inflation in food and energy prices is soaring.
[Read more...]Naturally, I started having pleasant daydreams about being rich, rich, rich after the Chinese government surprised me by announcing that it would finance the buying of foreign gold mines, and ordered their banks to set up big distributed systems for buying and selling gold at the retail and whole levels and all kinds of stuff like that. Wow!
[Read more...]Lets say, for the sake of argument, youre sitting on about $2.4 trillion in assets. And lets say that to pay the bills, you need only about a quarter of that $600 billion in ready cash.
What do you do with the rest?
As you might guess, this is not a hypothetical question. $2.4 trillion is what China holds in foreign exchange reserves. And it needs only about a quarter of that to handle three months of imports and short-term external debt.
[Read more...]Lets say, for the sake of argument, youre sitting on about $2.4 trillion in assets. And lets say that to pay the bills, you need only about a quarter of that $600 billion in ready cash.
What do you do with the rest?
As you might guess, this is not a hypothetical question. $2.4 trillion is what China holds in foreign exchange reserves. And it needs only about a quarter of that to handle three months of imports and short-term external debt.
[Read more...]The markets were atwitter this morning over Greece. But chances are you already know that. Its China we have on the brain.
And so does Joe Six-pack. ABC News and The Washington Post just polled 1,000 Americans and found…
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Fear and Loathing on Wall Street
Ah, I love the smell of fear in the morning! Stocks around the globe are getting hammered. So the only thing selling faster than stocks these days is replacement underwear.
The usual suspects are at work again. Greece is about done. The yield on 1-year Greek bonds rose to 82%. Think about that. That’s the market saying a Greek default is inevitable. But the problems, of course, don’t stop with Greece, or this wouldn’t be worth reporting. All of Europe is under a cloud. The banking system is on the verge of collapse.
[Read more...]