A little shine at the end of a dark week
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Posted 21 November 2008 - 11:12 PM
Nice to see the first substantial move in gold for a month or so at the end of a dismal week for most other sectors. The pressure on JPM is an added bonus, love to see them crash and burn. Even the gold bashers would have to smile if $1500 gold caused the vultures at JPM to begin to eat themselves to survive.
The huge losses in Canadian banks yesterday was a little surprising given that they have been seen as a bastion of strength in the financials. TD has no exposure to the mortgage debacle but still fell over 10% and others fell more. If they go teats up then the writing is on the wall for all North American financials.
All in all a good week and the first one for many, methinks the gold shorters are getting a little gassed, no surprise there. When the USD starts to tank.............
Posted 22 November 2008 - 03:19 AM
just in in-tray, an astute and enlightening observation
... observers perceive the US nationalizing private banking and finance.
... nothing could be further from the case.
... private banking and finance is privatizing the US Treasury.
It''s not a small distinction...:-)
my observation, stating the obvious, that with pelosi as the mob''s head, hilary as sec of state, geithner as sec of treasure, obama as the orator
we are blessed as we had never been before
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