It has become tradition at La Estancia de Cafayate for Casey Research to host an intimate conference in conjunction with the Harvest Celebration. In the most recent of the series, Bill Bonner, co-founder of The Daily Reckoning, kicked the program off with a thought-provoking discussion about the nature of information.
[Read more...]Markets Not Meddlers
March 14, 2013 by Leave a Comment
Stocks are still climbing. The Dow was up over 14,500 last we checked, buoyed, say the papers, by some encouraging jobs numbers. Here’s The Financial Times, abusing its readers with the details:
Overall, US equity markets rose by midday, boosted by better than expected jobless claims.
[Read more...]Boycott Bitcoin!
March 4, 2013 by Leave a Comment
Well, Fellow Reckoner, it’s been something of a sad week for proponents of Bitcoin…
Would-be buyers of the fringy cyber experiment have had to watch as the price of their beloved currency shot to within (as of this writing) a few cents shy of $35 per coin. No buyer wants to see that kind of action…unless they are also an “already boughter.”
[Read more...]Canadian Finance Minister Talks Up the Loonie
January 24, 2011 by Leave a Comment
As I turn on the currency screens this morning, I see that the euro (EUR) – which remained well bid on Friday, thus losing that trading pattern we talked about, of overnight rallies for the euro and daytime sell offs – has backed off Friday’s high… The German IFO Business Confidence was responsible for the euro’s strong bid on Friday… Last night, the euro backed off a bit… The single unit actually traded above 1.36 on Friday afternoon, when the volume was thinning. This morning, the single unit is below 1.36 at 1.3575, as I type…
[Read more...]There’s Still Time for the Korean Won
January 6, 2011 by Leave a Comment
On Dec. 19, South Korea announced plans for a new fee on bank transactions. The goal was to reduce speculation that was pushing its currency, the won, up in value. But Korean officials are wasting their time. These measures won’t be enough to stop the won from appreciating even more.
After all, we continue to see similar policies fail across the globe. World currencies are spiking as low interest rates and the widening money supply in the United States and Japan force investors to search for higher yields elsewhere.
[Read more...]The Best Currency You’ve Never Heard Of
January 5, 2011 by Leave a Comment
We begin today’s reckoning with a trivia question: how many möngös are there in a tugrik?
If you guessed 100, congratulations! If you didn’t know, don’t worry. The Mongolians probably don’t care either way. The tugrik, their national currency, may not be much discussed outside the world’s strangest-sounding capital city, Ulaanbaatar, but it was still the world’s best performing currency of 2010. Well, the best paper currency, anyway.
[Read more...]US Dollar Rallies as FOMC Sounds the “All Clear Horn�
January 5, 2011 by Leave a Comment
Well… The rally for the euro (EUR) didn’t have strong legs yesterday. Seems that a strong Factory Orders number here in the US got everyone thinking once again that the all-clear horn has been sounded for the US… The dollar rallied, commodities sold off, and gold lost $34 (as I left for the day). I’ll just say this about the all-clear horn being sounded… If things were so rosy, would the Fed/Cartel/Bernank, be leaving interest rates near zero? Why would the same crew be carrying out their implementation of quantitative easing?
[Read more...]China to Buy Spanish Debt. Euro Rallies.
January 4, 2011 by Leave a Comment
Well… It’s a “risk offâ€� day that began yesterday afternoon… The only strange part of this risk off trading is the fact that the euro (EUR) is rallying versus the dollar! I know, I know, that seems to be a very strange occurrence… But it’s true, it’s true, I did see a euro rally! Other than euros, and sterling (GBP), the rest of the currencies have taken on water versus the dollar since yesterday afternoon, and that includes gold and silver, which have sold off too.
[Read more...]2-Year High for Oil Pushes the Loonie Higher
January 3, 2011 by Leave a Comment
Well… As I expected, the euro (EUR) really ran up on Friday’s trading, as shorts were covered and trading books were squared for year-end. I truly believe that this euro-buying could be reversed as we go through the first month of 2011… The reason I say that is I truly believe that the euro will come under pressure, as the Eurozone gets probed to come up with better solutions to their periphery countries’ problems. I expect Germany to balk at many things, and when they balk, the runners get to move up…the runners being the dollar, and gold…
[Read more...]
Argentina Sings the Dollar Blues
“Ten-to-one! Can you believe it? Ten-to-f#@king-one!”
Our friend was clearly exasperated. He couldn’t believe it.
“Ten-to-one” wasn’t the time…nor the odds he’d been offered for backing some dodgy ol’ nag down at the racetrack. It was — it is — the unofficial “blue” rate at which pesos are exchanged for dollars here in Argentina.
[Read more...]Click for detailed story