central-banks

Citigroup (NYSE:C) Raises Gold Estimate to $1,450

Citing expected quantitative easing, which is another word for inflation, to be instituted by the Federal Reserve, Citigroup (NYSE:C) sees gold prices over the near and medium term to rise to $1,450 an ounce. That is based on the accurate assumption the value of the U.S. dollar and other currencies will fall against gold as they continue to be debased from the faulty policies of their central

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Citigroup (NYSE:C), UBS (NYSE:UBS) Wealthy Clients Buying Gold

Although it varies from financial institutions to financial institution, wealthy clients of Citigroup (NYSE:C) and UBS (NYSE:UBS) have been acquiring large allotments of gold, especially clients of UBS. Regional head for central, eastern and northern Europe Citigroup, Africa and Turkey, Samir Raslan, said clients are buying gold, although they weren’t going overboard on it. At the Global

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$12.2 Trillion Was Not Enough Stimulus

$12.2 Trillion Was Not Enough Stimulus

Filed under: Federal Reserve , Recession , Financial Crisis Developed countries are scrambling to put in place more rounds of stimulus to prop up their faltering economies. The U.S. Federal Reserve has already pledged or spent an unbelievable $12.2 trillion to bail out a handful of bankers. The Fed slashed interest rates to zero and it is now purchasing more treasuries with proceeds from existing purchases. Finally, at its recent meeting the Fed stated that it stands ready to inject more stimulus in the economy . Continue reading $12.2 Trillion Was Not Enough Stimulus $12.2 Trillion Was Not Enough Stimulus originally appeared on BloggingStocks on Thu, 23 Sep 2010 10:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Liberty Media’s John Malone Clueless on Gold

Liberty Media Corp.’s Chairman John Malone was talking about his investment strategy recently, and said the strange statement concerning gold and why he wasn’t investing in it. Malone said this, “I’m not a gold bug. There’s just something about gold that seems artificial to me.” Both assertions show his ignorance. First of all, being a gold bug has absolutely nothing to do with investing in

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Central Banks Swap Tons of Gold for Cash

Central Banks Swap Tons of Gold for Cash

Filed under: Industry , Market Matters , Commodities In a footnote in a 216-page report released last week, the Bank for International Settlements (BIS) disclosed that since December, it has taken in 349 metric tons of gold from central banks, which swapped it for $14 billion in cash. Why is this important? First off, the BIS is the central bankers’ bank. We can gather from this that central banks needed cash to pay their bills. So they pawned their gold. Continue reading Central Banks Swap Tons of Gold for Cash Central Banks Swap Tons of Gold for Cash originally appeared on BloggingStocks on Sun, 11 Jul 2010 14:10:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Central Bankers Love The Aussie Dollar and Canadian Loonie

Filed in central-banks, currencies, Debt, euro, New Gold, sov by on June 22, 2010 0 Comments
Central Bankers Love The Aussie Dollar and Canadian Loonie

Filed under: International Markets , Insiders , Market Matters , Economic Data , Currency In an ever changing world, central bankers are reevaluating which currencies to add to their sovereign reserves. Central bankers, by the very nature of their positions, must take every precaution when investing their country’s sovereign reserves. Looking around we see Europe in a mess. Greece is being bailed out by its other eurozone partners. As a consequence, its borrowing costs have doubled to 9.4%. Yields on Portuguese debt stands at 6.3%, the highest since the euro started in 1999. Last month the EU announced a 750 billion euro rescue mechanism to stabilize the market. The euro hit a four year low of $1.1877 on June 7. As a sitting central banker, would you go there? Probably not. Continue reading Central Bankers Love The Aussie Dollar and Canadian Loonie Central Bankers Love The Aussie Dollar and Canadian Loonie originally appeared on BloggingStocks on Tue, 22 Jun 2010 16:40:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

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US Gold Coin Sales Explode

As confidence in paper currencies continue to wain, sales of gold coins in the U.S. has soared in May, already twice what it was in May 2009, with several more days to go before the month ends.So far in May, 158,000 ounces of gold coins have sold in the U.S., according to the U.S. mint. Gold coins aren’t used primarily for investment purposes, but for an alternative currency for those who believe

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