Greetings. It’s been a pretty wild week in the Forex World as attention switched away from the Euro Zone debt problems for a while and the US unemployment rate rose to 7-month high at 9.8%, in a surprising setback, despite Fed’s tremendous efforts to stimulate economic growth, thus creating more money out of thin air jobs. QE2 is already old news and will be followed by QE3, QE4 etc.
Will massive money printing, again and again, eventually save the economy? Yeah, right…
Insanity: doing the same thing over and over again and expecting different results. – Albert Einstein
Poor employment data fueled another commodities rally and both gold and silver went through the roof – gold breaking above 1400; silver above 29.
- Gold chart daily 03-12-2010
- Silver chart daily 03-12-2010
I’m sure it is clear as daylight that demand for precious metals is very high – no matter it’s for wealth preservation purpose, investment or Christmas presents in form of jewelry, to enhance someone’s beauty. Or not? well…
- gold bull or bear
If you enjoyed the Quantitative Easing Explained video, below is a new episode – explaining Silver manipulation by JP Morgan:
While commodities continue to benefit from the governments printing money, Keynesian economics, political or military tensions – the “comm-dolls” or commodity dollars should follow, strengthening against both US dollar and euro.
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell – Sir John Templeton
- AUDUSD forex daily chart 12-3-2010
- USDCAD forex weekly chart 12-3-2010
Crude oil also continues to rally and trades to its highest levels since October 2008.
- Oil daily chart 12-3-2010
- Oil weekly chart 12-3-2010
Though some guys don’t care much about paying more at the petrol station and will definitely enjoy higher gold prices
It is snowing here so I am going out for a walk. Here are some articles for you to enjoy:
- Former OMB Director Debunks The Economic Recovery Myth
- The founder of WikiLeaks, Julian Assange, answers readers’ questions about the release of more than 250,000 US diplomatic cables
- Which Banks Got Fed Loans During the Meltdown?
- 2&3, 3&4 or 4&5? That is the Question.
- How sovereign debt crisis could spread through the Eurozone (Interactive scenario)
- Employment Graph Repeat
- FT.com Books of the Year
- Four-figure silver and December 11th
Have a nice Sunday, cheers!
Snow is falling and $gold is rising http://t.co/rb0QtyI #forex, #mkt
Snow is falling and gold is rising http://bit.ly/dQslu8