FROM INTERNET>>> http://www.gata.org/node/12204 >>>>
“Devaluing a currency,” one senior Federal Reserve official once told me, “is like peeing in bed. It feels good at first, but pretty soon it becomes a real mess.”
In recent times foreign-exchange incontinence appears to have been the policy of choice in capitals from Beijing to Washington, via Tokyo. The resulting mess has led to warnings of a global “currency war” that could spiral into protectionism.
The roll call of forex Cassandras reads like a who’s who of global finance and politics: German leader Angela Merkel, Federal Reserve Bank of St. Louis President James Bullard, Bundesbank President Jens Weidmann and Mervyn King, the outgoing governor of the Bank of England. And the list goes on.
The luminaries are wrong on a couple of points. The world isn’t “on the verge” of a currency war, as they seem to think, but right in the middle of one. But — and here’s the good news — there is a chance this confrontation might not end as badly as, say, the destructive devaluations that followed the Great Depression or even the turmoil of the Asian financial crisis of 1997-1998.
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A couple of articles for the Goldbugs, today. :)
I’ve been trimming positions. Most are expecting a pullback and sometimes these prophecies are self-fulfilling. I went ahead and sold BERY for a profit even though it is still climbing. I have two longtime hold core positions and still have FIO as a spec stock. I move in and out of 3X bear positions throughout the day if I see a slide in the market to pick up a few loose pesos.I usually buy one for the weekend as well and sell Monday Morn. ALLT has come down to a nice price and I may start a position here. I’ve used Monex for PM purchases but will look at others mentioned here.
I would suggest posting this Daily finance & investment thread in the “Business/Economy” section too.
If you read FR often, you will see a lot of 3D printing articles. It is hot outside FR too, as the few 3D printing related publicly listed stocks have been on fire this last year, and especially the last three months. There is an IPO for a 3D printing company coming tomorrow, XONE. I don’t know if I will invest in it, and won’t personally recommend it, but for anyone who is interested in the technology and wants to invest in such companies, they can take a look at it.