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FED to issue credit cards to in debt consumers?
I’m joking of course but who knows as the ideas just get goofier.
The Federal Reserve took two new steps to unfreeze credit for homebuyers, consumers and small businesses, committing up to $800 billion.
The central bank will purchase as much as $600 billion in debt issued or backed by government-chartered housing-finance companies. It will also set up a program of $200 billion to support consumer and small-business loans, the Fed said in statements today in Washington.
“This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support…
Rate cuts trigger inflation fears
Marketwatch
Moming Zohu
The Federal Reserve, European Central Bank and four other central banks lowered interest rates in a coordinated effort to combat world’s deepening financial turmoil.
"Coordinated central bank aggressive interest rate cuts should lead to gold surging in value in the coming months" as "currency devaluations look increasingly likely," said Mark O’Byrne, executive director at Gold and Silver Investments.
Gold for December delivery gained $24.50, or 2.8%, to close at $906.50 an ounce on the Comex division of the New York Mercantile Exchange. It was the first time the contract topped the $900 level since Sept. 29.
The metal has…
9Oct2008 | The Real Deal | Comments Off | ContinuedPrecious Metals Gearing Up
By Nick Jones
Editor, Real Deal
The PMs have taken the back seat in the most recent rally in commodities. While corn, soy beans, oil, and other commodities were making either fresh contract or all time highs on a daily basis, the PMs simply consolidated. This was to be expected after the fantastic rally in gold from the low $600s to above $1000 /oz. Personally, I exited the last of my PM equities positions at $975 /oz and have been on the side lines ever since (I do still own physical metals). But I believe that we are currently encroaching a good…
26Jun2008 | Nick Jones | Comments Off | Continued
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