Friday, November 26, 2010
Russia and China to give up on The Dollar in their Trade
China and Russia have decided to abandon the dollar and to use their own currencies in bilateral trade. This was reported by the Drudge Report website, quoting the China Daily. Chinese experts say the decision reflects the increasingly 'close relations between Beijing and Moscow does not aim to challenge the dollar but to protect the Russian and Chinese economies. The financial crisis has prompted Beijing and Moscow to choose an alternative currencies to their trade.
Stock Exchange: Tokyo closed in fall The Nikkei is -0.40%
TOKYO, NOVEMBER 26 - The Tokyo Stock Exchange closed trade in fall of 0.40%. The Nikkei index made up to 10039.56 points, less than the 40.20 at the closing yesterday.
U.S. dollar below 1.33 against the Euro
Slight recovery in the dollar this morning on the opening of the European market. The dollar was traded at 1.3268 against the euro, a slight recovery from yesterday's 1.3321.
Oil price down 25 cents to $ 83.61 per barrel
Oil prices declined today on electronic markets in Asia, with the crude duty pay for the crisis triggered by some European countries (Ireland, Spain, Portugal) and which, according to analysts, could have an impact on oil demand. The barrel for delivery in January, is trading at 83.61 cents, down 25 cents (-0.3%) on the Singapore market than yesterday. But no comparison with U.S. markets closed yesterday for Thanksgiving.
Gold: down 0.3% At $ 1,371.70 an ounce
Gold: down 0.3%A $ 1,371.70 an ounceGold fell slightly today in Asian markets. The yellow metal was trading at $ 1,371.70 an ounce, down 0.3%.
Investing in Companies Exposed to Commodities
Sica Wealth Management President Jeffrey Sica argues stocks exposed to commodities, particularly agriculture, are a good investment.
Currency Warfare, Trade Barriers, The People it Hurts
Currency Warfare, Trade Barriers, The People it Hurts
An excerpt from Bob Chapman's weekly publication.
November 24 2010:
A frayed social net, foreclosure crises caused by banks, few jobs available, standards of living to fall, Open currency warfare, FBI finds more insider trading, Bernanke and quantitative easing, toxic economy still poisoning the system.
The social net has become a bit more frayed. Soon extended unemployment benefits will cease and 2 million Americans will have to dip into their savings, if they have any. This is an outgrowth of the effects of free trade, globalization, offshoring and outsourcing. We have lost 8.5 million jobs over the last ten years to this destructive process. We have seen more than 42,000 manufacturing plants leave the country as well. There are now more than 17 million Americans unemployed and the U6 official government unemployment figures 17%. If you remove the bogus birth/death ration, the real figure is 22-5/8%. Over that ten-year period we have lost about 5.5 million manufacturing jobs or about 1/3rd of that labor force. As recent as 1985, 25% of output was in manufacturing, now it is close to 11%. America’s physical infrastructure is in a shambles, so that transnational conglomerates can bring us cheap goods to suppress inflation and bring these companies mega-profits, which they keep stored offshore to bypass taxation. They presently have $1.7 trillion in such profits.
read more >>>>
An excerpt from Bob Chapman's weekly publication.
November 24 2010:
A frayed social net, foreclosure crises caused by banks, few jobs available, standards of living to fall, Open currency warfare, FBI finds more insider trading, Bernanke and quantitative easing, toxic economy still poisoning the system.
The social net has become a bit more frayed. Soon extended unemployment benefits will cease and 2 million Americans will have to dip into their savings, if they have any. This is an outgrowth of the effects of free trade, globalization, offshoring and outsourcing. We have lost 8.5 million jobs over the last ten years to this destructive process. We have seen more than 42,000 manufacturing plants leave the country as well. There are now more than 17 million Americans unemployed and the U6 official government unemployment figures 17%. If you remove the bogus birth/death ration, the real figure is 22-5/8%. Over that ten-year period we have lost about 5.5 million manufacturing jobs or about 1/3rd of that labor force. As recent as 1985, 25% of output was in manufacturing, now it is close to 11%. America’s physical infrastructure is in a shambles, so that transnational conglomerates can bring us cheap goods to suppress inflation and bring these companies mega-profits, which they keep stored offshore to bypass taxation. They presently have $1.7 trillion in such profits.
read more >>>>
Crude Oil potential in Iran and Iraq
MME examines the true oil potential of two of the Middle East's most volatile oil and gas producers.
Rio Tinto Sees Effect of Lower Grade Copper on Production to Continue Into 2011
"ADRs of Rio Tinto (RIO) are lower in the pre-market as the company said it expects 2010 mined copper production to come in at 661,000 tonnes, according to a MarketWatch report.
The company also reportedly said it sees the effect of lower grade copper on production to continue into 2011.
Commodities are heading lower overall on Friday, with gold and crude oil both sliding as concerns over European sovereign debt and ongoing tension in the Korean peninsula sent traders to the relative safety of U.S. dollars, driving down prices for basic goods. "
The company also reportedly said it sees the effect of lower grade copper on production to continue into 2011.
Commodities are heading lower overall on Friday, with gold and crude oil both sliding as concerns over European sovereign debt and ongoing tension in the Korean peninsula sent traders to the relative safety of U.S. dollars, driving down prices for basic goods. "
Building Asset
Importance of building asset. Network Marketing is the cheapest, easiest & simplest way.
Gold Weakens as Dollar Gains on Europe Debt Woes
Gold fell 1 percent on Friday as the dollar pushed to fresh two-month highs against the euro on worries that Ireland's debt crisis was spreading and on growing speculation of an imminent Portuguese bailout.
However, gold was underpinned by some modest safe haven buying amid investor nervousness over the European debt crisis after a newspaper report that euro zone nations were pressuring Portugal to follow Ireland's lead and seek a bailout. Portugal and Germany's finance ministry denied the report
read entire article
$500 Silver?!? - Max Keiser
The People's Currency Is about to smash Wall Street's Precious Fiat Paper.
Can we say $500 silver by December 2011?
Can we say $500 silver by December 2011?
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