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Is the only way up for inflation?
 
 
I realise that many people on both sides of the Atlantic believe that the official in-flation figures are misleadingly low. There is even a conspir-acy theory suggesting that the figures are deliberately cooked.
 
Suffice to say here that the markets do not believe that the inflation numbers are grossly understated and neither do the central banks. They both react to the official figures - and last week there was enough in those to get them excited.
22 may 06 @ 7:07 am 

EURO AND GOLD PRICE MANIPULATION Part I by J.N. Tlaga
 
 
Never in history was gold manipulated down as extensively as it was under Bretton Woods agreements. Signed on July 22, 1944, they actually created the International Monetary Fund and the World Bank, whose meeting in Prague this year was adorned with Professor Mundell's remarks that will be analyzed here.
 
Under Bretton Woods agreements, the currencies of the IMF member countries were to be defined pro forma in weight of gold, and those "gold parities" were to be translated into par values against US dollar, whose gold parity at $35 per fine troy ounce was 888.67 milligrams (or 15 and 5/21 grains 0.9 fine). The currencies of the IMF member countries became convertible to dollars at "fixed but adjustable par values", but only dollars were made officially convertible to gold. (Not to American nationals, only to foreign central banks.)
15 may 06 @ 6:51 am 

The Great Silver Spike of 1980 by Roland Watson
 
 
In fact, reversing our CPI numbers, a silver height of $14 today translates to about $5.50 in 1980 dollars. That happened to be silver's price on the 19th January 1979 and way to the left and beyond on our Silver Peak map. Can Son of Peak Silver really ascend such fantastic heights? How high can it go before the other side of the mountain range is revealed to us? Will a sheer drop await more investors at the other side, or will the ascent be that more gentle with the occasional plateau upon the way?
11 may 06 @ 6:51 am 

How does a currency collapse? And the U.S.$ ? by Julian D. W. Phillips
 
 
When a currency loses the confidence of its people, its fall becomes exponential, as has happened to the Zimbabwe $, where in 1982 one U.S.$ equalled 1 Zimbabwe $.   Today around Z$200,000 buys one U.S. $ if you can find someone idiot enough to sell one for the Z$. 
 
In day-to-day terms, the smallest note in Zimbabwe a Z$500 is the size of a U.S.$.   The price of a single-ply sheet of toilet paper is more expensive at around Z$867.
9 may 06 @ 3:44 pm 

Spending money they haven't earned by Bill Bonner
 
 
The happiness mongers are out in full force. Something must be amiss. Unlike them, we don’t claim to know better than anyone else what the future will bring. Instead, we look to the present and try to see what it has brought already. And what we see is a public as short on worry as it is on cash. And that, dear reader, is precisely why the economic news is so good. Because consumers are spending their fool heads off. People are still buying houses, as Mr Stelzer points out. The GDP is still increasing. Why? Because people are spending money they haven’t earned yet. Worried people don’t do that.
8 may 06 @ 7:52 am 

MANIPULATING THE MASSES by John Williams
 
 
In reality, however, annual inflation is over 8%, unemployment is around 12%, and annual GDP growth is flat. Not only does common experience support the latter set of numbers, but also taking a close look at how government economic reporting has been manipulated over time. What will surprise many, though, is that the annual 2005 federal deficit was $3.5 trillion (not billion). That extraordinary number is as reported by the U.S. Treasury, using generally accepted accounting principles.
5 may 06 @ 6:54 am 

How Close is a Real Estate Meltdown? by Clif Droke
 
 
Are we to a "housing bubble" meltdown? Are we going to see the real estate boom reverse and turn into a real estate bear market anytime soon? Will 2006 see the onset of declining property prices on an intra-regional basis? In short, I think we'll find the answers to at least the first two of these questions will be answered in the negative. For select regions, however, there will be rather pronounced slowdowns in construction and housing sales that may seem like the bubble has burst, especially when compared with the high growth rates of the previous 3-4 years. We'll discuss some of these regions here.
4 may 06 @ 6:42 am 

The Silent Dollar Crash and Parallel Investment Universes by Econotech
 
 
Yet as of now, the financial markets and mainstream media barely seem to acknowledge this silent yet huge dollar crash, rather quite the opposite. In terms of risk premia, credit spreads and volatility, global financial markets continue to be more euphoric than at any time in the past twenty years, as I pointed out on 3/24 link. The IMF's April "World Economic Outlook" link raised its global growth forecast for 2006 0.5% to 4.8%, which would be the fourth straight year above 4%.
3 may 06 @ 10:25 am 

Dollar starts the big slide against major currencies by DAVID SMITH
 
 
THE dollar has embarked on a big decline that will see it fall against all leading currencies, according to analysts.

The plunge is being prompted by America’s $800 billion (£438 billion) current-account deficit, they say.
 
2 may 06 @ 8:30 pm 

How US Investors Can Best Profit from the Trashing of their Currency by Clive Maund
 
 
So what's a poor US investor to do? The solution is actually simple and involves two key planks. The first thing you have to do is get your money out of US denominated assets, and the second thing is to invest in hard assets - Base Metals, Precious Metals, Oil and Commodities generally, via stocks or other instruments that are not priced in US dollars. In other words, put your money into hard assets priced in more resilient currencies.
1 may 06 @ 12:51 pm 


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