Had to get this out as fast as possible Somebody at CNBC, billed as "America's business channel," made a mistake. They allowed Jim Rogers, investor and buddy to George Soros, to get on and slam the...
Had to get this out as fast as possible Somebody at CNBC, billed as "America's business channel," made a mistake. They allowed Jim Rogers, investor and buddy to George Soros, to get on and slam the Federal Reserve. Not only slam the Fed, but call for it to be abolished. This is a futher report from yesterday report on Bloomberg's Asian Finance on Final Word. Link Below is of this video your watching:
Fed Affords Dollar Brief Respite With Lower Rate Cut Market had priced in full one percent cut Paul Joseph Watson Prison Planet Tuesday, March 18, 2008 The dollar enjoyed its biggest gains against the Yen in nine years and pared losses against the Euro after the Federal Reserve delivered a lower than expected 75 basis points interest rate cut after traders had priced in a full 100 points cut.
Earlier today, we asked whether the Fed would act to shore up the dollar in the face of a growing outcry and talk of intervention by offering only a 50 basis points cut.
Before the decision, a growing number of traders were leaning towards a whopping 1.25 percent cut but the lower than expected move gave the dollar some brief respite.
Gold futures fell sharply below $1,000 an ounce but crude oil spiked following the announcement.
"The dollar didn't get crushed here," said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. "People were short dollars and long gold heading into this meeting. It looks like investors are taking some money out after this great rally."
"The Fed delivered the minimum to appease the overriding concerns of the market right now," said Mike Moran, a senior currency strategist at Standard Chartered in New York. "Risk sentiment is a little better" than at the start of the day.
However, with Gulf states set to creep away from the greenback by dumping their dollar peg, the respite is only likely to be short lived and we fully expect to see further dollar erosion on a gradual basis over the coming weeks and months.
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...the latest Barron's Roundtable, and the numbers are irrefutable. London-based World Gold Council said investment demand for gold, mainly bars and coins, surged 121% in the third quarter as investors rushed to safety. MONDAY, JANUARY 12, 2009
15th April 2008 - Outside of the White House. Abolish the FED. One of the largest protests in US History. Be part of the difference, make sure you go to Washington and take everyone you can with you. Be part of the Revolution!!
Make that hopelessly. Please learn your history people. The Fed is not Federal and is destroying our country to line elite pockets and consolidate power. We were warned about private central banks and now we're screwed. Also CNBC is a travesty beyond words.
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MONDAY, JANUARY 12, 2009