September’s Gold-en surprise

September’s gold price movement has been a study in contrary trends. While gold reached $1,900 on the 2nd and has cascaded downward $243 to Friday’s close at $1,657 on the spot market. While European banks from Germany, France and Belgium are teetering on Greek default concerns the liquidity trap from overnight lending in dollars has […]

Europe’s PIIGheadedness

One crazy week begins with global markets getting creamed without US markets trading. Labor Day afternoon shows the beginning of the cratering of the EU. Greek bonds show default is almost certain with 2-yr bonds at 52% yield. Italian bank stocks and CDSs are moving in opposite directions. Equity prices at year lows while cost […]