A Streetwise Hercules at the Bank of England
by Ben Traynor
Wednesday 28 November 2012
Mark Carney’s been hired to bang bankers’ heads together…
WHERE have all good men gone
And where are all the gods?
Where’s the streetwise Hercules
To fight the rising odds?
Isn’t there a white knight upon a fiery steed?
Late at night I toss and turn and dream of what I need.
I need a hero.
We imagine Britain’s chancellor George Osborne has been humming this tune to [...]
by GoldCore Gold Bullion
Today’s AM fix was USD 1,662.50, EUR 1,324.07, and GBP 1,047.57per ounce.
Yesterday’s AM fix was USD 1,640.50, EUR 1,315.87 and GBP 1,038.49 per ounce.
Silver is trading at $30.36/oz, €24.30/oz and £19.31/oz. Platinum is trading at $1,543.75/oz, palladium at $628.10/oz and rhodium at $1,025/oz.
Gold surged $17.10 or 1.04% in New York yesterday and closed at $1,654.40. Silver surged to a high of $29.91 and finished with a gain of [...]
By now everyone reading this knows that this week’s nonfarm payroll report was a huge bust, with just 69,000 jobs created, versus expectations of 150,000. In addition, the report’s innards were all weak. That extended the string of weak data that we have been seeing, and there is more to come.
As I have been saying for some time now, the seasonal adjustments didn’t adequately capture the warm weather this winter, and [...]
Chinese Premier Wen Jiabao said the government will focus more on bolstering economic growth, indicating policies may be loosened further as inflation moderates.
“The country should properly handle the relationship between maintaining growth, adjusting economic structures and managing inflationary expectations,” Wen said during a tour of Wuhan, the capital of China’s Hubei province, from Friday to Sunday.
“We should continue to implement a proactive fiscal policy and a prudent monetary policy, while giving more priority [...]
Hanover, Germany — Shiny black solar panels are as common a sight as baroque church spires in this industrial hub, thanks to government subsidies that have helped make Germany a world leader in solar technology.
Now, sudden subsidy cuts here and elsewhere in Europe have thrown the industry into crisis just short of its ultimate goal: a price to generate solar energy that is no higher than fossil-fuel counterparts.
Across Europe, governments [...]
Gov. Jerry Brown on Monday proposed a ballot initiative that would ask Californians to raise taxes on themselves.
Facing huge deficits despite $10 billion in budget cuts last year, California needs new tax dollars in order to avoid catastrophic cuts to schools and government services for the elderly, Governor Brown said.
His plan includes a 1 percent income-tax-rate increase for individuals making more than $250,000 per year, and a 2 percent rate increase for [...]
The ruling is in: Linn State Technical College’s mandatory drug-testing policy is patently unconstitutional, and will not stand. After a seven-hour hearing Tuesday, Judge Nanette K. Laughrey of the Western District of Missouri granted our preliminary injunction against the public school, blocking any further drug testing or analysis of urine samples already taken from students. We are thrilled [...]
South Carolina is the latest state to propose a bill that would allow gold and silver coins to be used as legal tender.
On Wednesday, American Principles in Action, a conservative non-profit group, announced that the bill has the official support of the South Carolina Republican Party.
“The South Carolina legal tender bill follows the passage of a new law in Utah, which on May 9th became the first state in more [...]
“The US government should stop the irresponsible behavior of devaluing the dollar and pressuring for yuan appreciation,” said Mao Shunjie, deputy secretary-general of the China Chamber of International Commerce, at a press conference in Beijing Wednesday. “This could bring on a another economic crisis.”
Deputy Head of the Central Bank in Russia says they are moving towards a direct exchange between the Russian Ruble and the Chinese Yuan:
Goldman Sachs [...]