Eric de Carbonnel: Acquiring AIG, U.S. govt. assumed huge commodity shorts
April 26, 2011 by goldguru · Leave a Comment
GATA 8:35p ET Monday, April 25, 2011 Dear Friend of GATA and Gold (and Silver): In commentary posted tonight at 24hGold, Eric de Carbonnel of Market Skeptics discloses that in taking over the bankrupt insurer and derivatives game player AIG the U.S. government apparently inherited a huge commodities short position — which, of course, doesn’t [...]
Two at Fed had doubts about payout by AIG
January 27, 2010 by goldguru · Leave a Comment
By Gretchen Morgenson and Louise Story, The New York Times Weeks after rescuing the American International Group with an $85 billion taxpayer loan in late 2008, Federal Reserve Board officials rejected a proposal that would have forced the insurer’s trading partners to return $30 billion in cash that they had received from AIG in the preceding [...]
NY Fed worked steadily with AIG to avert bailout disclosures
January 17, 2010 by goldguru · Leave a Comment
By David Lawder and Mark Felsenthal, Reuters WASHINGTON — The New York Federal Reserve Bank actively worked with bailed-out insurer AIG to build a case against disclosing details of AIG’s payments to banks just days after the insurer considered making them public, documents released late on Saturday showed. Lawyers for the New York Fed, which had [...]
New York Fed urged AIG to keep bank payments secret
January 7, 2010 by goldguru · Leave a Comment
By Hugh Son, Bloomberg NEW YORK — The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurer’s payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show. AIG said in a [...]
Gold, Silver, Metal Prices: Commentary – 10/30/2009
October 30, 2009 by goldguru · Leave a Comment
GDP: Great Day to Play Good Day, Friday’s market sessions in precious metals started off on a tamer note, following the best gains in gold in three weeks. Explanations follow. The recapture of the $1045 area is noteworthy, although analysts we polled during the wee hours overseas are trying to define the move as everything [...]
Gold Drops for Fourth Day, Silver Plunges, Stocks Mixed
October 29, 2009 by goldguru · Leave a Comment
New York gold futures ended lower Tuesday for the fourth straight day as the US dollar advanced on news of a decline in consumer confidence. Silver was hit exceptionally hard for the second straight day, falling more than 3 percent. Platinum declined as well. In other markets, crude oil finished 1 percent higher and US [...]
Weekly Market Recap 10/23/09
October 24, 2009 by goldguru · Leave a Comment
ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday that gold prices could rise to a high of $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth, as reported to Reuters. The unemployment rate has been increasing at an alarming rate, yet the [...]
Investing in Gold Now
October 23, 2009 by goldguru · Leave a Comment
After gold prices crossed above the psychological level of $1000, the target price for gold became a very popular topic on the markets. Jim Rogers predicts gold prices to go even to $2000. Some of latest analysis from Adam Hewison about gold: In the first video Adam provides some mid and long term analysis for [...]
Gold, Silver Rise; Stocks Fall
October 22, 2009 by goldguru · Leave a Comment
Gold ended higher Wednesday and for the fourth straight day as a decline in the US dollar propped precious metals higher — silver and platinum advanced as well. In other markets, crude oil surged above $81 a barrel to a one-year high while US stocks retreated from their own earlier one-year highs. New York precious [...]
Greenlight’s Einhorn Predicted Lehman Brothers’ Fall; Buying Gold
October 21, 2009 by goldguru · Leave a Comment
By Jennifer Ablan and Joseph A. Giannone Mon Oct 19, 2009 5:17pm EDT NEW YORK, Oct 19 (Reuters) – David Einhorn, the hedge fund manager who had warned on Lehman Brothers’ precarious finances, on Monday said he is buying gold and betting that interest rates will rise as he lambasted the U.S. government’s financial chiefs [...]
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