Looking through some old Ronald Reagan clips on Youtube and found this one. Its great.
Monday, November 23, 2009
Another High
Gold Jumps to Record as Slumping Dollar Spurs Investment Demand
By Nicholas Larkin and Pham-Duy Nguyen
Nov. 23 (Bloomberg) -- Gold jumped to a record price as the slumping dollar boosted bullion’s appeal as an alternative asset. Silver also gained.
Gold futures touched an all-time high of $1,174 an ounce in New York, after the dollar fell as much as 0.9 percent against the euro. Gold has posted records during nine sessions this month, and is up 32 percent this year as investors and central banks increased their holdings of the metal to preserve wealth. Russia’s central bank said it bought more bullion last month.
“All this buying shows no confidence in the dollar,” said Bernard Sin, the head of currency and metals trading at bullion refiner MKS Finance SA in Geneva.
Gold futures for December delivery rose $17.90, or 1.6 percent, to $1,164.70 an ounce on the New York Mercantile Exchange’s Comex division, the biggest gain in a week.
In London, bullion for immediate delivery climbed $13.73, or 1.2 percent, to $1,164.33 an ounce at 7:43 p.m. local time after earlier touching a record price of $1,174.
Gold may surge to $1,500 an ounce over the next 18 months, Bank of America Merrill Lynch analysts said today in a report.
The U.S. Dollar Index, a six-currency gauge of the greenback’s value, slid on speculation that the Federal Reserve will hold U.S. interest rates at historic lows indefinitely. The Fed cut the target range for its benchmark lending rate to zero percent to 0.25 percent in December. The dollar index is down 7.6 percent this year.
Russia’s central bank increased its gold holding to 19.5 million ounces last month from 19 million ounces in September, Bank Rossii said on its Web site.
Government Buying
Governments, the biggest holders of gold, have been expanding their bullion reserves, helping to spur an 8.3 percent rally in the metal’s price from Oct. 20 to Nov. 20. India’s central bank bought 200 metric tons from the International Monetary Fund in October. Mauritius and Sri Lanka also have been buying gold. The IMF still has about 200 tons left to sell.
“Any given emerging-market central bank cannot hedge against further U.S. dollar weakness by buying euros or sterling,” Bank of America Merrill Lynch said, citing the likelihood of rate moves by the European Central Bank and the Bank of England. “This is because there is a significant probability that the ECB and the BOE will have to follow any monetary policy moves by the Fed.”
The ECB’s benchmark lending rate is at 1 percent and the Bank of England’s main rate is at 0.5 percent.
Gold is in the second stage of a rally to $1,500 that began with the credit crisis in August 2007, Bank of America Merrill Lynch said. The second stage is marked by dollar weakness. In the third stage, a recovery in energy and commodity prices will boost investment into precious metals, the bank said.
Silver futures for December delivery climbed 17 cents, or 0.9 percent, to $18.61 an ounce, after touching a 16-month high of $18.935 earlier. The metal is up 65 percent in 2009.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTjz9pZClR6c
In my opinion Silver seems like the way to go here. Gold is up 32% this year, and silver hasn't even matched what it got up to last year. Silver will lag behind gold but the percentage gains will be at least double or triple gold.
By Nicholas Larkin and Pham-Duy Nguyen
Nov. 23 (Bloomberg) -- Gold jumped to a record price as the slumping dollar boosted bullion’s appeal as an alternative asset. Silver also gained.
Gold futures touched an all-time high of $1,174 an ounce in New York, after the dollar fell as much as 0.9 percent against the euro. Gold has posted records during nine sessions this month, and is up 32 percent this year as investors and central banks increased their holdings of the metal to preserve wealth. Russia’s central bank said it bought more bullion last month.
“All this buying shows no confidence in the dollar,” said Bernard Sin, the head of currency and metals trading at bullion refiner MKS Finance SA in Geneva.
Gold futures for December delivery rose $17.90, or 1.6 percent, to $1,164.70 an ounce on the New York Mercantile Exchange’s Comex division, the biggest gain in a week.
In London, bullion for immediate delivery climbed $13.73, or 1.2 percent, to $1,164.33 an ounce at 7:43 p.m. local time after earlier touching a record price of $1,174.
Gold may surge to $1,500 an ounce over the next 18 months, Bank of America Merrill Lynch analysts said today in a report.
The U.S. Dollar Index, a six-currency gauge of the greenback’s value, slid on speculation that the Federal Reserve will hold U.S. interest rates at historic lows indefinitely. The Fed cut the target range for its benchmark lending rate to zero percent to 0.25 percent in December. The dollar index is down 7.6 percent this year.
Russia’s central bank increased its gold holding to 19.5 million ounces last month from 19 million ounces in September, Bank Rossii said on its Web site.
Government Buying
Governments, the biggest holders of gold, have been expanding their bullion reserves, helping to spur an 8.3 percent rally in the metal’s price from Oct. 20 to Nov. 20. India’s central bank bought 200 metric tons from the International Monetary Fund in October. Mauritius and Sri Lanka also have been buying gold. The IMF still has about 200 tons left to sell.
“Any given emerging-market central bank cannot hedge against further U.S. dollar weakness by buying euros or sterling,” Bank of America Merrill Lynch said, citing the likelihood of rate moves by the European Central Bank and the Bank of England. “This is because there is a significant probability that the ECB and the BOE will have to follow any monetary policy moves by the Fed.”
The ECB’s benchmark lending rate is at 1 percent and the Bank of England’s main rate is at 0.5 percent.
Gold is in the second stage of a rally to $1,500 that began with the credit crisis in August 2007, Bank of America Merrill Lynch said. The second stage is marked by dollar weakness. In the third stage, a recovery in energy and commodity prices will boost investment into precious metals, the bank said.
Silver futures for December delivery climbed 17 cents, or 0.9 percent, to $18.61 an ounce, after touching a 16-month high of $18.935 earlier. The metal is up 65 percent in 2009.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTjz9pZClR6c
In my opinion Silver seems like the way to go here. Gold is up 32% this year, and silver hasn't even matched what it got up to last year. Silver will lag behind gold but the percentage gains will be at least double or triple gold.
Tuesday, November 3, 2009
Is The Dollar Dead?
Gold hits record high on India purchase
By Javier Blas in London and James Lamont in New Delhi
http://www.ft.com/cms/s/0/0eaa4a80-c856-11de-a69e-00144feabdc0.html
Gold prices on Tuesday surged to an all-time high after India’s central bank bought 200 tonnes of the precious metal, swapping dollars for bullion (my emphasis) as the country’s finance minister warned the economies of the US and Europe had “collapsed”.
India’s decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.
The purchase by New Delhi’s Reserve Bank from the International Monetary Fund pushed gold prices to a record $1,086.10 per troy ounce, up 2.6 per cent on the day, as traders bet that other central banks would also become buyers.
Pranab Mukherjee, India’s finance minister, said the acquisition reflected the power of an economy that laid claim to the fifth-largest global foreign reserves: “We have money to buy gold. We have enough foreign exchange reserves.”
He contrasted India’s strength with weakness elsewhere: “Europe collapsed and North America collapsed.”
“This is a landmark trade,” said Jonathan Spall a director at Barclays Capital and a gold specialist. “Central banks are conservative institutions and India’s move is a sign for other central banks and sovereign wealth funds that were contemplating buying gold.”
New Delhi’s acquisition came months after China revealed it had almost doubled its gold reserves in the past six years.
Traders and mining executives tipped China, Saudi Arabia and Middle Eastern sovereign wealth funds as candidates to snap up the rest of the gold the IMF plans to sell.
By Javier Blas in London and James Lamont in New Delhi
http://www.ft.com/cms/s/0/0eaa4a80-c856-11de-a69e-00144feabdc0.html
Gold prices on Tuesday surged to an all-time high after India’s central bank bought 200 tonnes of the precious metal, swapping dollars for bullion (my emphasis) as the country’s finance minister warned the economies of the US and Europe had “collapsed”.
India’s decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.
The purchase by New Delhi’s Reserve Bank from the International Monetary Fund pushed gold prices to a record $1,086.10 per troy ounce, up 2.6 per cent on the day, as traders bet that other central banks would also become buyers.
Pranab Mukherjee, India’s finance minister, said the acquisition reflected the power of an economy that laid claim to the fifth-largest global foreign reserves: “We have money to buy gold. We have enough foreign exchange reserves.”
He contrasted India’s strength with weakness elsewhere: “Europe collapsed and North America collapsed.”
“This is a landmark trade,” said Jonathan Spall a director at Barclays Capital and a gold specialist. “Central banks are conservative institutions and India’s move is a sign for other central banks and sovereign wealth funds that were contemplating buying gold.”
New Delhi’s acquisition came months after China revealed it had almost doubled its gold reserves in the past six years.
Traders and mining executives tipped China, Saudi Arabia and Middle Eastern sovereign wealth funds as candidates to snap up the rest of the gold the IMF plans to sell.
Monday, November 2, 2009
Update to last post
Just thought everyone would like to know that not only did the republican Dierdre Scozzafava abruptly suspended her campaign Saturday in the 23rd Congressional District special election she also endorsed the democrat that ACORN endorsed. ACORN endorsed her also which shows exactly why the republicans can all go to hell as far as I am concerned. This is the perfect example of how the game works. These two parties are damn near identical yet they want us to fight amongst ourselves to get the big (D) or big (R) elected, and when they are elected they both lead us down the path to bigger government. Wake up people we need a third party here in America, or better yet no parties at all. Go back and read George Washington's farewell address he saw what political parties can do to a country and warned against them. You all know what they say the definition of insanity is: Doing the same thing over and over and expecting different results. Well this has been us America we keep voting for immoral liars and thieves and think it is alright just because they are a republican or a democrat. You know what you get when you vote for the lesser of two evils? Evil
Sunday, November 1, 2009
Hallelujah
Republican in NY House race suspends campaign
By VALERIE BAUMAN (AP)
Fighting plunging support, Republican Dierdre Scozzafava abruptly suspended her campaign Saturday in the 23rd Congressional District special election that has exposed a rift among national factions of the party.
Campaign spokesman Matt Burns said Scozzafava thinks stepping aside is for the best of the party. He said Scozzafava is essentially withdrawing from the race, although her name will remain on Tuesday's ballot.
"It is increasingly clear that pressure is mounting on many of my supporters to shift their support," Scozzafava said in a written statement. "Consequently, I hereby release those individuals who have endorsed and supported my campaign to transfer their support as they see fit."
The announcement comes after a Siena College poll found she was in third place with 20 percent of the vote in the heavily Republican district that has been safe ground for the party for more than 100 years. Conservative Party nominee Doug Hoffman and Democratic nominee Bill Owens were too close to call with 35 percent and 36 percent, respectively.
The race has pitted conservative and moderate wings of the Republican Party against each other in a battle of ideology. The special election in New York's rural north has received national attention as big-name Republicans including Sarah Palin, Minnesota Gov. Tim Pawlenty and former Tennessee Sen. Fred Thompson have thrown their support behind Hoffman. Money poured into Hoffman's campaign from all over the country.
Full Article: http://www.google.com/hostednews/ap/article/ALeqM5j0VibvgMRn4zDGTwEZjej-eRI1swD9BM61UG1
This is great news for all of the conservatives out there. I firmly believe that a third party is the way to go. Having only two options is always going to get us into the same kind of mess we are talking about here, where you can't hardly tell the two parties apart. Hopefully Hoffman will pull this thing off, and get others on board with the third party movement, including Rush Limbaugh, who for some reason with all his brilliance still thinks we should try to remake the republican party. I think that is the wrong approach, I mean how many conservative presidents have we had in the last 50 years, one, maybe two? Get real and get on board with the third party movement!
By VALERIE BAUMAN (AP)
Fighting plunging support, Republican Dierdre Scozzafava abruptly suspended her campaign Saturday in the 23rd Congressional District special election that has exposed a rift among national factions of the party.
Campaign spokesman Matt Burns said Scozzafava thinks stepping aside is for the best of the party. He said Scozzafava is essentially withdrawing from the race, although her name will remain on Tuesday's ballot.
"It is increasingly clear that pressure is mounting on many of my supporters to shift their support," Scozzafava said in a written statement. "Consequently, I hereby release those individuals who have endorsed and supported my campaign to transfer their support as they see fit."
The announcement comes after a Siena College poll found she was in third place with 20 percent of the vote in the heavily Republican district that has been safe ground for the party for more than 100 years. Conservative Party nominee Doug Hoffman and Democratic nominee Bill Owens were too close to call with 35 percent and 36 percent, respectively.
The race has pitted conservative and moderate wings of the Republican Party against each other in a battle of ideology. The special election in New York's rural north has received national attention as big-name Republicans including Sarah Palin, Minnesota Gov. Tim Pawlenty and former Tennessee Sen. Fred Thompson have thrown their support behind Hoffman. Money poured into Hoffman's campaign from all over the country.
Full Article: http://www.google.com/hostednews/ap/article/ALeqM5j0VibvgMRn4zDGTwEZjej-eRI1swD9BM61UG1
This is great news for all of the conservatives out there. I firmly believe that a third party is the way to go. Having only two options is always going to get us into the same kind of mess we are talking about here, where you can't hardly tell the two parties apart. Hopefully Hoffman will pull this thing off, and get others on board with the third party movement, including Rush Limbaugh, who for some reason with all his brilliance still thinks we should try to remake the republican party. I think that is the wrong approach, I mean how many conservative presidents have we had in the last 50 years, one, maybe two? Get real and get on board with the third party movement!
Subscribe to:
Posts (Atom)