Monday, October 31, 2011
Sheikh Imran Hosein - The Gold Dinar, Islam & The Future of Money
Gold slides 2% on Japan FX intervention
(Reuters) - Gold prices dropped about 2 percent on Monday, after Japan's intervention in the currency market triggered a rapid rally in the dollar, spooking precious metals investors. Japan intervened unilaterally in the foreign exchange market on Monday to curb the yen's strength, sending the dollar up more than 1 percent against a basket of currencies.
A stronger greenback makes dollar-denominated commodities more expensive for buyers holding other currencies.
"The huge spike in the dollar is pressuring gold prices," said Ong Yi Ling, an analyst at Phillip Futures. "But so long as gold stays above $1,700, the sentiment should remain pretty bullish."
Other precious metals weakened in tandem. Spot silver dropped as much as 2.7 percent to $34.28, and the most-active U.S. silver futures contract also lost more than 2 percent to $34.21.
Spot platinum suffered its worst one-day loss in a month with a 2.7-percent slide. Spot palladium fell 1.8 percent to $651.99.
"From here people will play the wind," said a Hong Kong-based gold dealer, "Last week gold rose too quickly and we may see a correction coming." .......read in full
Why did the West glorify Gaddafi's death?
For those more casual visitors to this blog who are wondering why a "Gold" blog is featuring a well reasoned discussion about Gaddafi's death, well let me give you an explanation.
US Foreign Policy
From: | Oct 30, 2011
US Foreign Policy
- If the perception of the US is tarnished then this feeds back (amongst a myriad of other factors) into the country's international standing which can be reflected in the value of it's currency. As Gold and other precious metals are traded internationally in US$ if the US$ falls over time this feeds back into the price of Gold.
- Which was to be based on a Gold Dinar and to start trading oil directly for gold, a video on this topic can be viewed here (in regards to the trading of Gold for Oil the House of Saud has been doing this since the 70's oil shock, but they have the common sense not to bite the hand of their master and trade Oil for US$ then trade the US$ for gold, related post here)
From: | Oct 30, 2011
On the Edge - Mortgage fraud & Housing market
http://www.presstv.com/Program/207260.html
In this edition of On the Edge, Max Keiser interviews Catherine Austin Fitts from Solari.com.
She talks about the systemic fraud in the mortgage sector and how it affected the housing market.
In this edition of On the Edge, Max Keiser interviews Catherine Austin Fitts from Solari.com.
She talks about the systemic fraud in the mortgage sector and how it affected the housing market.
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