 |
  |
 |
|
SAN FRANCISCO (AP) — A federal appeals court upheld the use of the words "under God" in the Pledge of Allegiance and "In God We Trust" on U.S. currency, rejecting arguments Thursday that the phrases violate the separation of church and state. The San Francisco -based 9th U.S. Circuit Court of
Publ.Date : Fri, 12 Mar 2010 02:01:00 GMT
WASHINGTON - The Obama administration accused China on Thursday of abusing its citizens' rights and maintaining currency policies that cost millions of U.S. jobs, a double-barrel attack that comes amid a growing willingness to confront and even ...
Publ.Date : Fri, 12 Mar 2010 00:07:00 GMT
The U.S. will spend about $1.8 trillion more than it gets in revenue this year. Next year, it will add an estimated $1.2 trillion to the debt. Expenses in the billions may not attract much attention these days, but when it gets to the trillions ...
Publ.Date : Fri, 12 Mar 2010 02:30:00 GMT
Fiscal concerns are resulting in extreme pessimism for both currencies in the near term, said Lee Hardman, currency economist at Bank of Tokyo-Mitsubishi UFJ. World stocks measured in the MSCI All-Country World Index inched up 0.1 percent to 300.72 ...
Publ.Date : Wed, 10 Mar 2010 12:12:00 GMT
President Barack Obama pressed China ... contribution to that global rebalancing effort," Obama said in the text of a speech. "We all need to rebalance. Countries with external deficits need to save and export more. Countries with external surpluses
Publ.Date : Thu, 11 Mar 2010 15:17:00 GMT
|
Internet Forex Trading Currency Trading Signal
|
|
 |
  |
 |
|
|
|
|
|
|
|
|
|
Slaughter on Financial Avenue
Sure Fire Trading. Trading Systems, Methods And Signals. Who Else Wants To Trade Like A Pro
It doesn't matter if you trade Forex, Futures, Stocks, Commodities or any market for that matter. This code that I am talking about will rock everything you have ever learned about trading!
Author: Dan Denning Daily Reckoning Aus
--In the battle against a total collapse in the financial markets, global regulators fought back hard over night. First, the U.S. Fed deployed (airlifted?) an additional US$180 billion to foreign central banks. These brave dollar boys marched out as digits over the same fibre optic cables that have made this the first truly real-time global financial panic. --The European Central Bank (ECB) was reinforced with US$110 billion, the Swiss National Bank was bolstered by US$27 billion, while the Bank of Japan was garrisoned with US$60 billion, the Bank of England US$40 billion and the Bank of Canada US$10 billion.
--In sounding its call to arms-and then providing the arms-the Fed aims to achieve the very mission for which it was designed for in 1913: be the lender of last resort when no one else in the financial system will lend to one another. Trust is dead-at least for this week.
--The commercial banks aren't lending. They're fighting to survive. The Sovereign Wealth funds, burned earlier in the year after thinking the bottom was in, are sitting on cash. Private equity is waiting to pick over the carcass of failed firms (or buy firms willing to sell themselves to remain alive.). That leaves only the central banks to lend.
--There are plenty of borrowers. The Bank of New York lent out US$100 billion in overnight funds. But as quickly as the Fed injects liquidity into the system, it bleeds out elsewhere. Investors withdrew nearly US$80 billion from money market funds in the U.S. this week. Total assets held by money market mutual funds fell by 2.5%.
--As you know, money market funds are near cash investments. In fact, you can't get much closer to being in cash than actually being in cash. When investors flee the short-term money market, they are only one step away from losing total confidence in the financial markets. That last step-and we only mention because we expect to see it when regional banks begin to fail in the U.S.-is removing your deposits from the bank altogether and taking your cash home.
--We aren't there yet, though. And the Fed is trying to put an end to the bear market in trust that has gripped Wall Street and the rest of the globe for the last year. Will it work? It certainly cheered investors for a day. The Dow was up nearly 400 points. Stocks are up in early trading here in Australia.
--But the Fed is fighting a liquidity crisis. It's the wrong war, and it may not be a war it can win without reigniting inflation (more on that below). What we're really facing is solvency crisis. Making more credit available will not improve the quality of the assets that have thrown the entire financial system into turmoil to begin with (American houses).
--Two other regulatory steps helped avoid a total rout on Thursday. First, regulators in the U.S. and the U.K. moved to halt short selling. Bloomberg reports that, "Financial regulators in the U.S. and U.K., attorneys general in New York, Texas and Connecticut, and the three largest U.S. pension funds are cracking down on short sellers in the wake of the collapse of Lehman Brothers Holdings Inc. and American International Group Inc."
--Right. It's the short-sellers who are responsible for the destruction of shareholder value at Lehman and AIG. It's the short-sellers who insured mortgage-backed securities. It's the short sellers who bought that debt with shareholder capital.
--It's really embarrassing when hard-nosed so-called capitalists on Wall Street play the victim card and blame their just deserts on short- sellers. Then they go crying to big Nanny State for a bailout (paid for by taxpayers). Disgraceful. The animal spirits of capitalism in America have morphed into suckling lap dogs.
--Don't get us wrong about short selling. Here in Australia we're shocked a bit that there is not more transparency regarding the size of the sort positions as percentage of a stock's float. The shorts need to be better reported. But shorting a stock is a useful way of holding the management accountable for being bad. Blaming the shorts for the collapse of the investment banking model (borrow, leverage, repeat) is like blaming gravity for falling on your face when you're drunk.
--No matter. The tough-talk against the naked shorts prompted a rebound in many of the financials we wrote about yesterday. But there are still serious concerns. For example, mortgage-lender Washington Mutual is having trouble finding a buyer. WaMu does not appear to have a dowry desirable enough to attract even an ugly husband.
Tags:
|
|
|
|
|
A Look at Forex Market Makers
The investor in the currency market takes for granted that a pair of currencies can be bought or sol... Currency Swing Trading - The Perfect Method for Beginners
Currency swing trading is a great way to make forex profits. Its easy to understand easy to apply an... On Friday, the Dow lost another 224 points.
The Wilshire index, meanwhile, is helpfully quoted in dollars. So you can see immediately how much m... |
|
|
|
|
|
|
|
|
|
Print this page
