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  • A New All-Time High For Gold!

    In This Issue..

    * Deflation to deep six Gold?
    * German data points to recovery...
    * The U.S. sponsored Ponzi Scheme...
    * ECOFIN internalizes their debt problems...

    Good day... And a Terrific Tuesday to you! I hit the "wall" yesterday about 2 o'clock... All the fun and sun of the weekend, became the wall, and I hit it square on! But I'm well rested now, so here we go!

    Front and Center this morning... Gold has reached a new all-time high this morning. Yesterday I kept watching the shiny metal tick higher and higher, and I would yell out across the desk each rise in Gold... Gold was $1,250 when I turned on the screens this morning. It has given back $2 since, as I did some reading and research, but Shoot Rudy, the move yesterday was something to admire!...
  • TARP Testimony Today...

    * What will Paulson say? * Dollar remains well bid... * How long for Safe Haven buyers? * G-20 Schmee 20! ** TARP Testimony Today... Good day... And a Terrific Tuesday to you! I've been away for a few days to deal with something, I want to thank Chris once again for taking the conn on the Pfennig since last Thursday. He'll get it again at the end of this week and the beginning of next week, as I hope to get to Marco Island for the Wealth Masters Conference. Well... Nothing has changed since I left you last Wednesday. The awful economic data just keeps piling on, and the dollar gets bid up on safe haven purchases. We did see the Eurozone and Japan announce that they are in a recession... Chris was kind enough to leave me the following, so here's some more Chris.......
  • Another Government Bailout!

    * Fannie & Freddie news... * Jobs Jamboree very disappointing! * Risk Taking back on the board! * Troubles brewing in China? ** Another Government Bailout! Good day... And a Marvelous Monday to you! We had some historic economic news over the weekend as the Gov't has decided to take over Freddie Mac and Fannie Mae... When I heard the news, I made sure I would check on the currencies later in the day when the Asian markets opened. At first, it was all dollar negative news, and the euro was flying high to near the 1.44 handle... So... I went to bed thinking that the markets would be a shambles this morning when I got to work, etc. etc. But, that's not the case, as I turned on the currency screens I saw the euro had lost all that ground it had gained and is back to looking sickly around 1.42 again. In fact, I just looked over, and the single unit has given up the 1.42 handle and is trading below... I'm searching and searching for news on this strong dollar move, and can't seem to find anything... So, I'll go on with the normal fun, and see if something pops up later as I go along......
  • A Perfect Storm...

    * The euro runs into a summer storm... * Plosser wants higher rates... Yeah, right! * Aussie dollar strength to return... * Canadian inflation pops higher than expected! ** A Perfect Storm... Good day... And a Wonderful Wednesday to you! A great day yesterday, as I was able to meet up with old friends, readers, and well wishers... So many people were just glad to see me here! I told them it was good to be seen! Looks like the oil rigs dodged a bullet with Dolly in the Gulf Coast, and that's a good thing! But Dolly will still hit South Padre Island today, please keep that in your thoughts today... Well... You know how I explained on a couple of occasions in the past couple of weeks, a Perfect Storm for the dollar? Well, those never materialized due to a number of reasons... Yesterday, we finally got that Perfect Storm, but it wasn't for the dollar... You know those Mid-Western summer storms, when in the middle of the day, it turns pitch-black, and the trees all begin bowing from the wind, and then the rain comes down hard? Well, that's much like what happened yesterday with the euro... Here's the skinny......