During World War II, there was a saying, that, “loose lips, sink ships”… I think Greek Prime Minister, George Papandreou, should have taken those words to heart yesterday… You see, the currencies, led by the beleaguered euro (EUR), were rallying, and the single unit was nearing 1.37, when Papandreou made a statement that sunk the rally’s ship… He said, “Greece’s debt problems could soon spread to the rest of Europe and mean a weaker euro”
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US Credit Rating: Who Will be the First to Downgrade?
Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: AUD, Aussie dollar decline, currencies, currency trading, Debt and Deficit, Dollar Decline, EMF, EUR, euro price, Euro Strength, European Monetary Fund, Featured, Gold, gold price, Greece debt problems, Greek bailout, JPY, The Daily Pfennig, U.S. credit rating, US credit outlook
The IMF, the EMF and All the Worthless Money In Between
There are those (me) who think that the International Monetary Fund (IMF) is a huge load of worthless, corrupt crap, not only because their dismal record pretty much shows that they are miserable failures, but because that is the way things always end up when someone is given power and money in huge amounts, or even in moderate amounts.
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