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  • An update on Chuck...

    In This Issue..

    * An update on Chuck...
    * Greek crisis continues to weigh on the euro...
    * US data is mixed...
    * Rand sells off due to new market rules...

    Good day, I am going to start right out this morning with an update from Chuck Butler, as he got some pretty big news yesterday and wanted me to share the following with you.

    To my dear readers and friends...

    About the time you receive this Pfennig and read it, I will be heading to the hospital, to have my left eye removed. There's nothing they can do to save the vision any longer, and since it has cancer, and is causing me so much pain, this is the only option left. I could go into all the medical descriptions of what happened, but it doesn't matter any longer. All I ask is that you all say a quick prayer for me, and my surgeon.

    I believe I will bounce back from this quickly, and with new vigor, for I no longer will have the cancer pain in my eye. So... On this Fantastico Friday, let's get this done, and over with, and begin to live pain free! Onward and Upward!...
  • Misguided risk aversion...

    * Bad data pushes investors into US treasuries... * Barclay's says the euro will rally... * SNB surprises with a rate cut... * Iceland gets their bailout... ** Misguided risk aversion... Good day...The dollar rallied a bit yesterday on some very poor economic data which illustrated just how bad things are getting here in the US. As Chuck has repeatedly told everyone, in the current trade pattern the dollar rallies whenever we get negative data for the US economy. Investors get spooked by this negative data, and run scared into the 'safety' of US treasuries. Ty sent me a quote from respected newsletter owner/author Bill Bonner yesterday: "Misguided risk aversion, anyone? A few months ago, investors stretched for yields. Now, it's safety they reach for...and grab U.S. Treasury debt with both hands. Investors now seem to have an unqualified trust in the full faith and credit of the world's largest debtor. Yields on 91-day T-bills have fallen to 0.11% - scarcely a tenth of one percent!"...