Archive for the 'Economy' Category
Possibly More Good News for Gold Bugs: Sentiment Remains Lukewarm
November 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’ve speculated that maybe we were seeing the public participation phase on gold. Well, maybe not. Maybe not even close. Excellent article here. Sums up a lot of late breaking information, and previous concepts covered on Cryptogon re: contrarian indicators. Via: […]
Foreclosure Wave Sweeps America
November 6th, 2007Via: BBC: A wave of foreclosures and evictions is about to sweep the United States in the wake of the sub-prime mortgage lending crisis. This could destabilise the US housing market and may also lead to further turmoil in financial institutions, who collectively own $1 trillion (£480.6bn) worth of sub-prime debt. Cleveland, Ohio, is an […]
EMERGENCY: DOLLAR
November 6th, 2007Europe might try to stop it here. EUR/USD over 145 is an emergency situation for them. I don’t know what their plan is, but expect them to try it soon. USDX is a hair over 76. They’ve got to do something right here. Via: Bloomberg: The dollar fell to a record low against the euro […]
Gold Bulls Gain Momentum
November 6th, 2007Gold has broken up and out of its 1 hour channel. The dollar is falling apart even more. Via: Reuters: Gold futures traded at their highest level in nearly 28 years on Monday, as renewed turmoil in the credit markets boosted the metal’s safe-haven appeal after Citigroup said it will have to write off up […]
Markets Fear Banks Have $1 Trillion in Toxic Debt
November 6th, 2007Via: Financial Times: A new phase in the credit crunch, one of “$1 trillion losses†seems to be dawning. The crisis at Citigroup and renewed doubts about some of the world’s leading banks disquieted stock markets on both sides of the Atlantic yesterday, with the fractious mood set to continue. The FTSE 100 fell 69.2 […]
Investing in Oil, Food, Alternative Energy, Gold or Water? Yes, All of the Above
November 6th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Over a roughly 24 hour period, I received four emails from readers with questions about investing in oil. (Has there been some specific event in the media that has touched off a lot of interest? Just curious. I don’t have a […]
PetroChina: First Firm Worth $1 Trillion
November 5th, 2007Via: AP: PetroChina became the world’s first company worth more than $1 trillion on Monday, surging past Exxon Mobil as the Chinese oil producer’s shares nearly tripled in their first day of trading in China. State-owned PetroChina Co., a unit of state-owned China National Petroleum Corp., is the country’s biggest oil and gas producer. Its […]
Saudi Prince Loses $4 Billion on Citigroup
November 5th, 2007Priceless. Via: Telegraph: The lift in Prince AlWaleed bin Talal’s Saudi Arabian Kingdom Holdings building has just two buttons. One is marked “ground floor”, while the other says, simply, HRH. AlWaleed is Saudi’s most famous businessman, a nephew of King Abdullah, the grandson of a former prime minister of Lebanon and a friend of Charles […]
If Stocks Tank, Watch Gold
November 5th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Lots of very serious weirdness in the markets at the moment. The banking sector is on the ropes and isn’t catching any breaks at all. If U.S. equity markets sell off hard today—the futures are tanking at the moment—let’s see what […]
Death Threats for Analyst Covering Citigroup
November 5th, 2007“At some point, this thing is going to start looking less like a financial crisis and more like a mob war.” —Unloading Toxic Waste Mortgage Backed Securities: “We Americans Were Very Clever†Via: Globe and Mail: Canadian Imperial Bank of Commerce analyst Meredith Whitney says she’s received multiple death threats because of a research note […]
