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China Nervous Over Money Printing
Key currencies, including the dollar, could come under growing pressure because of extraordinary money-printing by central banks to counter the financial crisis, China’s central bank said on Wednesday.
In its quarterly report on monetary policy, the People’s Bank of China pledged an ample supply of credit to support the economy, which it said would enjoy "stable and quite fast" growth despite current weakness in external demand.
My comment: Chinese money supply growth is up 25% y-o-y!
(snip)
"As more and more economies start to implement extraordinary monetary policies like quantitative easing, risks of major currency depreciation may grow," the report said.
My Comment: That is exactly…
Borrow and Spend: A Perfect Recipe For U.S. Bankruptcy
For a few fleeting, horrifying moments recently, the fault lines that underlie the global economic crisis erupted into plain view. With deft and quick effort, leaders in Washington, Europe and Asia papered over the fissures and fears largely subsided.
But the shock of plain truths that resulted in violent currency movements were the latest reminder that the 21st century economic order will bear little resemblance to the world we now know.
The tremors began in Beijing, where an essay from the governor of the People’s Bank of China seemed to favor the implementation of an International Monetary Fund currency to replace the…
3Apr2009 | Money Morning | 0 comments | ContinuedLou Paquette: Gold Will Be The Last Man Standing
Source: The Gold Report
The Gold Report caught up with newsletter writer and commentator Lou Paquette, who launched the website Emerging Growth Stocks in 1995 to provide investors and speculators with a unique alternative to what he saw was a growing problem with corporate governance and conflict of interest on Wall Street. He believes that as people finally begin to realize that gold is the only asset we can count on any more, the bull market will "come out of its shell." He shares some of his favorite mining companies that are well-positioned to ride out these turbulent times.
The Gold Report: Lou,…
21Feb2009 | The Gold Report | 0 comments | ContinuedGold Investments Market Update – Gold Surges – Federal Reserve Balance Sheet Explodes
Gold rose by just over 1% yesterday to over $900/oz as renewed risk aversion saw stock and bond markets come under pressure.
Gold subsequently traded sideways in Asia prior to another strong rally at 0800 GMT when gold surged from $901/oz to $926/oz in the hour. It has since given up some of those gains but remains above $920/oz. Demand remains very high internationally for ETFs, gold certificates and bullion coins and bars.
There is a gradual realisation that zero percent interest rates, quantitive easing, trillion dollar bailouts and printing money to buy government bonds is leading to currency debasement. This monetary…
30Jan2009 | The Gold Blog | 0 comments | ContinuedPrinting Press fired up and churning out cash
On the contrary, according to the Federal Reserve Bank of St. Louis, the monetary base (the raw material for the money supply) has risen at a seasonally adjusted annual rate of 86% over the past year. Bad enough, but over the past three months this has skyrocketed to an annual rate of almost 1,000%!
Adjusted reserves have ballooned from $100 billion to $700 billion since mid-September, while the Fed’s balance sheet has more than doubled over this period of time, from about $900 billion to a thumping $2.2 trillion.
These funds are beginning to show up in the Fed’s two…
23Dec2008 | The Real Deal | 0 comments | ContinuedGlobal Keynesian Economic Crisis (Part 2 of 3)
For the second part of this series, we are going to start by looking back at the three farmer scenario
In today’s society, the three farmers have, for a while, experienced a period where the monetary base is growing enough to keep up with the debt that needs to be repaid. The problem is that available credit has dried up.
Let’s switch out that farmer with a home buyer today, but keep the farmer scenario present in thought as we move forward. This home owner receives a loan from a bank, which is now a liability for the home owner.
Let’s not…
18Nov2008 | Oxbury Research | Comments Off | ContinuedLovable, Moronic Capitalists
We’re still here, listening to presentations by various financial analysts…trying to make sense out of things…and reporting to you directly from the floor of the Vancouver investing conference.
Up on stage, our old friend Paul van Eeden is explaining why the price of gold may be overpriced.
“Gold is money,” says Paul, “and almost only money.” So, you can forget supply and demand. To figure out what the price of gold should be, simply look at what it will buy, in comparison to other currencies. The only time gold leaves its “theoretical value” – as measured by what it will buy –…
27Jul2008 | Daily Reckoning | Comments Off | Continued
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