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Commodity Trader Alert

he Dollar Index fell for a sixth day in its longest losing streak since March as an increase in U.S. consumer sentiment encouraged investors to sell the greenback and buy higher-yielding assets overseas. Sterling rose to a one-month high versus the dollar as U.K. producer prices increased in August. The yen advanced versus most of its major counterparts on speculation China’s recovery will boost the growth of its Asian neighbors and Japan’s exporters will repatriate earnings.

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BlueLoriBlogSpot

At least those who bought Gold! The week's dollar sell-off continued Friday, with the greenback hitting a fresh 12-month low.The dollar has tumbled throughout the week, dropping nearly 2 percent against the euro. On Friday morning, the euro rose to $1.4600 from $1.4585 late Thursday, after earlier hitting a new 2009 high of $1.4634.The British pound, meanwhile, rose to $1.6699 from $1.6665, while the dollar fell to 90.32 Japanese yen from 91.74 yen, its lowest point since February. One must always remember when reading the Propaganda from the Main Stream Communist news to read between the lines. Here is a little flashback "We're In The Money" (did anyone have parents or grandparents who spoke pig latin to try and confuse you?) I did but I never let on that I understood it right away for obvious reasons. They use it in this old clip I view the mainstream news as written in Pig Latin. Enjoy the flashback...

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NuWire Investment

The chance that the dollar will be replaced by the Chinese yuan seems to be growing, as is China's determination to make it happen. The list of potential implications is very long, and includes several scenarios that are almost apocalyptic. Let’s consider the Top Five: Global Gloom Leads to U.S. Doom: The U.S. dollar goes into freefall for the simple reason that if no country has to hold dollars any longer, they won’t. Instead – thanks to the ragged state of the U.S. government’s finances – many countries will dump greenbacks fast as they can, which will only put additional pressure on an already-strained U.S. financial system, which in turn will further damage our economy. Inflation Inflates: Inflation will strike here with a vengeance, as anything bought, sold or priced in dollars will instantly rise in price to offset this fall. Repatriation Risk: With the dollar serving as the world’s de facto currency, U.S. companies bear very little exchange rate risk when the time com

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Telegraph

China has issued what amounts to the “Beijing Put” on gold. You can make a lot of money, but you really can’t lose. I happened to see quite a bit of Cheng Siwei at the Ambrosetti Workshop, a gathering of politicians and global strategists at Lake Como, including a dinner at Villa d’Este last night at which he listened very attentively as a number of American guests tore President Obama’s economic and health policy to shreds. Mr Cheng was until recently Vice-Chairman of the Communist Party’s Standing Committee, and is now a sort of economic ambassador for China around the world — a charming man, by the way, who left Hong Kong for mainland China in 1950 at the age of 16, as young idealist eager to serve the revolution. Sixty years later, he calls himself simply “a survivior”. What he said about US monetary policy and gold – this bit on the record – would appear to validate the long-held belief of gold bugs that China has fundamentally lost confidence in the US dollar and is going to s

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Market Watch

Gold futures rose above $1,000 an ounce Tuesday, climbing to their highest level in nearly 18 months as a weaker dollar boosted the metal's investment appeal. Silver and copper also rallied.The thinly traded September contract rose as high as $1,006.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest level for a nearby futures contract since March 18, 2008.The most active December contract recently gained $6.40, or 0.6%, to $1,003.10 an ounce. Day Ahead: Gold Rushes Past $1,000Gold futures pushed through the key $1,000 per ounce level overnight but the reasons aren't necessarily encouraging. Kelly Evan reports on your day ahead.The London gold fixing, a global benchmark, rose to $1,000.75 Tuesday afternoon, also the highest level since March 18."The higher the price the higher the volatility, but this market is so concerned with inflation possibilities and dollar weakness that momentum is bringing more investors to the buy side," said G

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Economic Policy Journal

Will the world run to the safety of gold as a form of international reserve currency, before the U.S. can force SDRs, its chosen alternative to the dollar, on the world? It might just be happening now. A friend sends along this comment from Adrian Douglas: I have recently described what is going on in the physical market to be the equivalent of a "run on the Bank of the Gold Cartel." There are many factors that are leading to that conclusion and here are just a few: -- China is a confirmed large buyer of gold, along with Russia.

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Economic Policy Journal/Financial Times

It's only a first step but, this is big. A new player has entered the ring to compete against the dollar and Treasury securities.China’s finance ministry said China will issue Rmb6bn ($879m) of bonds in Hong Kong on September 28, in a move to “improve the international status” of the currency and to help mainland companies raise funds in the offshore bond market, according to FT. Thank you Mr. Wenzel for keeping us informed! http://www.economicpolicyjournal.com/2009/09/alert-china-to-issue-renminbi-bonds.html

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Bloomberg

The dollar dropped against most of its major counterparts on speculation investors betting on a quick recovery in the global economy bought higher-yielding assets as Group of 20 finance ministers convened. The Brazilian real and South African rand posted the biggest advances against the greenback among the most-traded currencies this week as U.S. employers slowed the rate of job cuts in August. Treasury Secretary Timothy Geithner reaffirmed his commitment to supporting the economy before conferring with G-20 officials in London. The U.S. government is scheduled to sell a combined $70 billion in notes and bonds next week.

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Bloomberg

Like the Chinese, the folks at Disney World peg their currency to the dollar. Hand them $1 U.S. and you receive one Disney dollar, complete with a picture of Mickey Mouse or his friends, plus the signature of Disney’s official treasurer, Scrooge McDuck. That transaction now seems superfluous. The U.S. dollar is rapidly transforming into a Mickey Mouse currency. This has led to a rising call for the creation of an alternative to the dollar in the form of a new world currency. It would be an enormous mistake to discount these calls as a sideshow. The odds of a world currency emerging have never been higher. The calls are coming from many corners. Nobel Prize-winning economist Joseph Stiglitz chaired a United Nations panel that recommended the creation of a global reserve currency. Zhou Xiaochuan, governor of the People’s Bank of China, proposed that the International Monetary Fund take over the global leadership role traditionally ceded to the U.S. And Russian President Dmitry Medv

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Freedom Fighter Radio

Martial Law will then be declared because of the rioting and deliberate desired control over our people. Restricted travel and checkpoints on all major interstates as regions are effected. Massive gun confiscation (supposedly for our safety, of course). If you don’t think they are coming to your door to try to take them, think again!!!  

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Las Vegas Review Journal

 

While Ron Paul is calling on Congress to audit the Federal Reserve, his brother Wayne Paul has been testifying here in federal court about how Wayne's monetary views have shaped the beliefs of Robert Kahre, a Las Vegas business owner who is on trial for evading income taxes.

The trial before Judge David Ezra is nearing its conclusion, as the defense rested its case Thursday. Both sides will present closing arguments next week.

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Investment Watch

Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. "Instead of seeking funds through proper channels, the State has created a nightmare," the class says. "Many of these businesses will not survive if they are required to wait until October 2009 to have these forced IOUs redeemed by the State." The class claims the state is violating the Fifth and Fourteenth Amendments. It demands that California be ordered to honor its own IOUs, plus interest. They are represented by William Audet.

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Bloomberg

Obviously if BO was worried about protecting the dollar he would listen but then how else would he bring about his evil plans for his masters of a New World Order where the leaders and elites share the gains and people share the pains? China’s central bank warned that monetary easing by developed nations threatens to cause “severe” inflation and currency volatility. “Failure to manage the degree of easing may lead to concerns about mid- and long-term inflation and exchange-rate stability,” the People’s Bank of China said in a quarterly monetary policy report, posted on its Web site yesterday. China, the owner of $801.5 billion of Treasuries, pressed the U.S. at a summit in Washington last month for economic polices to protect the dollar’s value

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Gold Eagle

For many years we have all reached a resigned indifference to the way inflation figures are manipulated to suit the masters of the day. The end result is that GDP growth is overstated and adjustments to wages and pensions muted. This same scenario is now being witnessed with the unemployment figures. On the face of it unemployment is still below 10% but if measured in the same way as it was under administrations gone by it ranges from 15-20% in the USA.

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Justin Martin for LewRockwell.com

Because so many swaps are informal, the size of the small business barter economy is hard to gauge. But Bob Meyer, publisher of Barter News in Mission Viejo, Calif., was willing to take a crack at it. Meyer estimates that 1 million small businesses are involved in barter, either informally or through exchanges, with a volume of transactions approaching $20 billion annually. This figure combines the $10 billion that IRTA attributes to exchange trades with Meyer's conservative estimate that informal barter accounts for another $10 billion.

Typically, bartering activity spikes during economic downturns. Meyer expects the total volume of U.S. barter transactions to grow 10% this year (historically the annual growth rate has hovered around 5%). "Right now many small businesses

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John D. Sutter for LewRockwell.com

"These virtual currencies, as they grow, are going to become competitors to real-world currencies – and apparently that's what happening in China. These QQ coins are becoming things you can use at the corner store to top off your bill."

It's difficult to say how large virtual economies have become, because governments don't conduct surveys, Castronova said, but the popularity of online cash is reportedly growing by as much as 20 percent per year.

 

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