monetary policy

This is the third year I have featured the Danish Saxo Bank's outrageous predictions list. They are meant to be true outliers and not actual predictions, so don't expect them to hit 10 for 10 or even 7 for 10. The point of the list is to…

"...Bank of Canada Governor Mark Carney tried to calm everyone's nerves by declaring that gold 'has no role to play in the international monetary system.'" Globe and Mail, November 12, 2010 Carney did not calm the…

by Michael Hudson Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with…

“It is not the responsibility of the Federal Reserve - nor would it be appropriate —  to protect lenders and investors from the consequences of their financial decisions." -Ben Bernanke, 31 Oct 2007 via David Rosenberg's…

A BIG GOLD interview with John Hathaway, Tocqueville Gold Fund When John Hathaway spoke at the Casey’s Gold and Resource Summit in October, many of the audience came away feeling like they were listening to Doug Casey, with his contrarian…

I liked David Rosenberg's Breakfast With Dave piece this morning. He got into QE2, bonds, Europe and Germany in particular. Let me hit on a few highlights here.  First, Rosenberg says the recent uptick in bond yields might put…

As we feared, Turkey central bank cut rates by 50 bp to 6.5%. Before the recent comments by Deputy Governor Basci, the bank was saying that rates were headed higher towards the end of next year. Latest central bank survey shows market was…

Minutes from the December 7/8 COPOM meeting in Brazil are worth commenting on.  The central bank put a lot of weight on its decision to hike reserve requirements December 3, calling it a “fast and powerful” tool to contain domestic…

The ECB announced its subscription capital base of 5.8 bln euros would effectively be doubled to 10.8 bln euros effective at the end of the year. The move is not surprising and has been hinted for the better part of a week at least. It…

There has been a lot of chatter of late about countries ditching the US dollar as the primary reserve currency and moving on to something else. Robert Zoellick mentioned gold as the alternative. Nicolas Sarkozy has been talking up special…