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  • Consumer Confidence Drops!

    In This Issue..

    * The dollar continues to hammer!
    * Jim Rogers on the dollar rally...
    * C. Fred Bergsten talks of a dollar alternative...
    * Lord Monckton's thoughts...

    Good day... And a Wonderful Wednesday to you! It's still raining here... Quite frankly, I don't know how people that live in rainy areas do it! I don't mind rainy days, as long as they are sprinkled in with the days of sunshine!

    Well... The dollar rally that began for a number of rumored reasons continued on yesterday... Remember when I said on Monday that the data this week should show us that the economy is healing somewhat, which would be bad for the dollar? Well, that thought got cold water thrown on it yesterday when Consumer Confidence surprisingly declined last month...

    You know how I like to question just what people that were surveyed for this Consumer Confidence report are so confident about? Well, apparently, the Conference Board surveyed the wrong people this month! Consumer confidence in the U.S. declined in October to 47.7 versus expectations of a 53.5 reading. Both consumers' perceptions of current conditions and their expectations for the future declined. Hmmm......
  • A Loss Of Confidence In the U.S.?

    In This Issue..

    * Non-dollar currencies rally...
    * Euros and Aussie dollars lead the pack...
    * $1.42 Trillion Deficit for 2009!
    * TIC's data gets ignored again!

    Good day... And a Marvelous Monday to you! Another 'lost' weekend for our college and professional football teams! UGH! The sun finally came out this weekend. YAHOO! It felt so good to be in the sun again... The TICs data was something that needed to be dealt with on Friday, but once again the markets ignored it... I'm telling you, this smells like, walks like, and talks like a gag order... OK... Let's get going this Marvelous Monday!

    The non-dollar currencies all drifted on Friday, with the dollar seeing a bit of buying... But that's all been thrown to the curb this morning, as the non-dollar currencies, for the most part, are in rally mode VS the dollar.

    ...
  • Gold Soars To An All-Time High!

    In This Issue..

    * It was all about Gold yesterday!
    * Commodity Currencies take the lead today...
    * The story behind the euro's non-move...
    * Budget data prints today...

    Good day... And a Wonderful Wednesday to you! What a day for Gold yesterday! WOW! In case you were trapped in a cave and didn't hear the news... Gold, which I said yesterday morning looked like it was going to take out its all-time high, did take out its all-time high, and not just take it out! Gold pushed past the all-time high of $1,033.90, and didn't stop until it was trading $1,047 and change! WOW! No check that... Double WOW!

    The Reserve Bank of Australia's (RBA) rate hike the previous night, opened the door to this run by Gold, as the Gold Bugs all came out and bought the preferred investment to counter soaring inflation... You see, if the RBA is raising rates, when most every other Central Bank is stuck in the mud with near zero rates, the RBA must see something, eh?...
  • Magical Currency Tours!

    In This Issue..

    * Currencies get whacked by Geithner!
    * Big Ben wants the budget deficit cut!
    * BOE and ECB meetings today...
    * I told you this was going to get ugly...

    Good day... And a Tub Thumpin' Thursday to you! Yes... Tub Thumpin' because I said so! Yesterday was absolutely a 10 on the crazy meter, and We the People, just continue to sit and take whatever the Government and media tell us is 'best for us in these uncommon times'... I've got some interesting words on this later in the letter... It's time for me to get on my soap box once again, so... At least I've prepared you! But first... Some currency news!

    Well... Yesterday, I left you with the thought that the currencies were selling off, after the Asian Central Banks all made statements regarding their support of the dollar as the world's reserve currency... Here are some further thoughts on that......