Thursday, August 18, 2016

Europe’s banks beached as ECB stimulus runs dry

April 12, 2012 by · Leave a Comment 

GATA By Ambrose Evans-Pritchard The Telegraph, London Wednesday, April 11, 2012… The European Central Bank’s E1 trillion (L824 billion) lending spree over the winter has stored up a host of fresh problems, leaving parts of the banking system more vulnerable than before as the short-term “sugar rush” nears exhaustion. Credit experts say the Spanish [...]

Don’t Trust the Dollar Strength

October 9, 2009 by · Leave a Comment 

The Daily Reckoning As predicted, both the European Central Bank and the Bank of England kept their benchmark interest rates at record lows in an effort to keep stimulating their economies. Trichet signaled that the ECB has no plans to raise rates in the near future, stating that the current level is ‘appropriate’ for the [...]

US Dollar in Need of a Tourniquet

October 9, 2009 by · Leave a Comment 

The Daily Reckoning OK, front and center this morning, gold has soared to another all-time high! When I turned on the screen this morning, gold was flashing a great big $1,055 figure… WOW! But wait! Gold – and silver for that matter – aren’t the only risk assets moving higher… All 16 of the countries [...]

Gold Soars to an All-Time High

October 8, 2009 by · Leave a Comment 

The Daily Reckoning 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 [...]

September Job Losses Soar

October 5, 2009 by · Leave a Comment 

The Daily Reckoning Well… Friday’s Jobs Jamboree disappointed as I had the feeling it would, with 263,000 jobs lost in September. The unemployment rate also rose to 9.8%… Now we all know that when all the people who are truly unemployed are counted, the unemployment rate goes to 16%, but the Bureau of Labor Statistics [...]

Gold, Silver, Metal Prices: Friday Commentary (10/2)

October 2, 2009 by · Leave a Comment 

A Fundamental Question. Or Two. Or Three. Good Day, Gold relinquished the $1,000 level in the hours prior to yesterday afternoon’s final tick, but it was a slow, stubborn retreat. Such action persisted during the nighttime hours, fueled by additional dollar strength and profit-taking in crude oil. Today’s G-7 meeting in Istanbul might set the [...]

Commodity Currencies Rebound Versus the Dollar

September 30, 2009 by · Leave a Comment 

The Daily Reckoning Well… Instead of a “turn around Tuesday”, we’re seeing a whiplash Wednesday! And for once the Big Dog (euro) (EUR) didn’t lead the other little dogs (currencies) off the porch to chase the dollar down the street! No… This time it was the currencies of Australia (AUD) and New Zealand (NZD) that [...]

Trichet Says Strong Dollar Is ‘Extremely Important’

September 29, 2009 by · 1 Comment 

By Gabi Thesing and Christian Vits Sept. 28 (Bloomberg) — European Central Bank President Jean-Claude Trichet said a strong dollar is “extremely important” for the world economy and it’s too early for the ECB to unwind emergency stimulus measures. “In the present situation it is extremely important that we can have in the framework at [...]

ECB cuts rates to record 1.5%, mulls radical action

March 5, 2009 by · Leave a Comment 

By Ambrose Evans-Pritchard, The Telegraph The European Central Bank has cut interest rates a half point to an historic low of 1.5 percent and opened the door for extreme measures akin to the quantitative easing(QE) under way in America, Britain, and Japan. “I don’t exclude anything,” said Jean-Claude Trichet, the ECB’s president. “We did not [...]