EU Bailout | Gold Stocks Today - Part 2

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The Economic Recovery Myth

May 20, 2010 By Bill Bonner Leave a Comment

The primary trend is down…

Stocks fell again yesterday. The Dow lost 66 points.

The big shakeout was in the gold market � with a fall of $21.

It is unusual for gold to fall more (proportionately) than stocks. So, what�s the gold market trying to tell us? And why didn�t it mention it before?

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, Bill Bonner, Debt and Deficit, Deflation, economic downturn, Economic Recovery, EU bailout, Featured, Inflation, private sector de-leveraging, stock market decline, The Daily Reckoning

Merkel Sends the Euro Lower

May 19, 2010 By Chuck Butler Leave a Comment

The hits just keep coming for the euro (EUR)… As often as the Beatles put them out from 1963 to 1970, or Elton John put them out in the �70s…

Well… It�s the same for the euro… Just when it looked as though the euro might survive a day without being taken to the woodshed… The Eurozone officials just couldn�t stand the prosperity! (And I use that word loosely!) German Chancellor Angela Merkel made some proposals to gain control over �destructive� financial markets… Her first move was to place a ban on naked short-selling.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Angela Merkel influence on euro, AUD, currencies, currency trading, Debt and Deficit, EU bailout, EUR, euro decline, Featured, FOMC meeting minutes, Gold, gold sell off, Inflation, JPY, RBA, The Daily Pfennig

A 14-Month Low for the Euro

May 14, 2010 By Chuck Butler Leave a Comment

Front and center this morning, the euro (EUR) has lost more ground overnight, falling to a 14-month low, trading below 1.25 for the first times since March of 2009. Recall, that in March of 2009, the risk assets turned on a dime, and it wasn�t too far into spring that everyone was dumping dollars again… But that was then…

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: CNY, currencies, currency trading, Debt and Deficit, Dollar Decline, EU bailout, EUR, euro decline, Eurozone debt crisis, Featured, Gold, Gold News, money creation, Money Printing, NZD, RBNZ, retail sales, The Daily Pfennig

Debt Car Pile Up

May 13, 2010 By Joel Bowman Leave a Comment

Turns out a trillion euros just ain�t what it used to be.

The moribund currency fell for a third straight session in overnight trading. The downward pressure has been almost unrelenting ever since Europe�s anti-brain trust drove a $957 billion stake through the credibility of the world�s major, alternative fiat currency (the greenback being, for the time being, the paper I.O.U. of choice).

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, central bank purchases of euro, currencies, Debt and Deficit, EU bailout, European debt increases, Featured, Gold, gold investing, Government Spending, Greek bailout, increase of debt, investing in gold, Markets, sovereign debt crisis, The Daily Reckoning

Europhoria

May 12, 2010 By Dan Denning Leave a Comment

Monday was the day the world�s capital markets turned into a giant fiat money casino. Consider yourself forewarned. You might be able to trade your way to profits in this market on the tide of easy money being printed now by the Federal Reserve and the European Central Bank (ECB). But the financial markets are setting up for the mother of all collapses.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, currencies, Debt and Deficit, debt monetization, debt-to-GDP ratio, ECB, EU bailout, euro decline, Featured, fiat money decline, financial market collapse, Inflation, Markets, MBS, monetary policy, money creation, money supply, public sector debt, The Daily Reckoning

European Bailout: Deciphering the �I� in IOU

May 12, 2010 By Bill Bonner Leave a Comment

Oh la la…that was fast! We�ve had headaches that lasted longer…

One day the world is convinced that the central bankers and financial meddlers of Europe have the secret to success. The next day, they change their minds. Turns out, the euro feds don�t seem to have the problem solved after all. The euro is going down again.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: bank liquidity, Bill Bonner, California spending cuts, currencies, Debt and Deficit, EU bailout, euro bailout, euro decline, European bailout, Featured, Gold, Gold News, gold price rally, Inflation, Legislation, Markets, record gold price, sovereign debt crisis, The Daily Reckoning

EU Bailout Footnote: Currency Swap Lines Reopened

May 11, 2010 By Ian Mathias Leave a Comment

The Federal Reserve has reopened currency swap lines with the European Central Bank. A quiet footnote to yesterday�s EU bailout announcement, the Fed and ECB said � without the support of a single voter or representative � that they would restart a market manipulation program that ended February 1st, 2010.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, currencies, currency swap lines, currency trading, Debt and Deficit, Dollar Decline, EU bailout, euro decline, Featured, financial rescue package, private debt

The European Bailout Absurdity: Money for Nothing

May 11, 2010 By James Howard Kunstler Leave a Comment

The European Union came up with a trillion-dollar bailout for itself at the dawn�s early light yesterday. Initially, the bailout plan goosed the euro back above $1.30. But by day�s end, the euro�s value had gained almost no ground whatsoever. Hardly a resounding success on Day One of the campaign.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, Credit Default Swaps, Debt and Deficit, EU bailout, euro bailout, euro decline, Featured, global economic crisis, Greek bailout, Recession, sovereign debt crisis, The Daily Reckoning

Government Debt: The Not-So-Silent Economy Killer

May 11, 2010 By Bill Bonner Leave a Comment

Europe has lost its head!

First, the weather is completely out-of-sync with the calendar. Perhaps it�s because of the volcano in Iceland… The dust is blotting out the sun. There�s no sun here today. Instead, the sky is pale grey. And it�s raining. The calendar say�s May 11th, but it could easily pass for February.

Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, Bill Bonner, currencies, Debt and Deficit, EU bailout, euro bailout, euro decline, European deficits, Featured, government debt, Greek bailout, Legislation, private sector debt, public sector debt, The Daily Reckoning, US deficit spending