Greece Sovereign Debt

What happens when SNB is stopped out?

We have brought up the Swiss National bankers and what they have been doing for last several months by buying Euros in their attempt to weaken the Swiss Franc but the market keep pushing the Franc higher and Euro lower. A while back SNB kneed down to the market in a statement by the central bank in which the bank stated they wouldn’t buy Euros anymore. Well, SNB banker did pause for a while and guess what? Swiss Franc actually weakened instead of gaining strength versus the Euro. Perhaps it was that very market move which forced the SNB bankers to get to the kill again. What amazes us is that Swiss take pride in banking and thus are known as the smartest of bankers, but what have they been doing since past year? Are they not worried about their jobs? For we have stated several times in the past we’d hate to be at the helms of SNB when it had such a large exposure of Euros. A year earlier the pair stood at 1.48 whereas today and as we write it stands at 1.249s. The interventions efforts which we can imagine would have been discussed and deliberated upon many many times in closed rooms shall prove to the stupidest decision the bank has ever taken. This reminds

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Citigroup (NYSE:C) Sees Greek, Irish, Portuguese Bonds Continuing to Fall

As risks increase for the sovereign debt of Greece, Ireland and Portugal, Citigroup (NYSE:C) says they see bonds in the countries continuing to fall, as the crisis grows.Citigroup said, “Ireland, Portugal and Greece have underperformed significantly, but we do not think by anywhere near far enough yet. There’s a long way further to go if the situation deteriorates.”The yield on Irish bonds rose

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Goldman (NYSE:GS) Economic Report Support Gold Price Moving Up

Almost everything reported concerning the U.S. economy today confirms the ongoing recession, and Goldman Sachs (NYSE:GS) believe there’s no doubt the Federal Reserve will inflate via quantitative easing, adding more support to gold, although that’s probably priced into the price of gold at this time. How much it’s priced in will be determined by what the Federal Reserve does and to what extent.

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Gold Prices Fall Today on US Dollar, EU and Inflation

Gold prices today fell again this week, dropping $20.10 for August delivery, to $1,188.20 an ounce. Spot gold prices ended at $1,193.00, A decline of $15.40. Several factors play a part in the gold price fall. First, the misguided idea that the sovereign debt crisis in Europe has been handled, or at least improved, mostly based on Greece begin able to sell bonds to the private sector. Second,

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AngloGold Ashanti (NYSE:AU), Gammon (NYSE:GRS), Iamgold (NYSE:IAG) All Down

Even though macro-economic conditions are positive for gold and gold mining companies, the news that job creation was only about 5 percent in the private sector of America wasn’t enough to quickly turn around gold miners like AngloGold Ashanti (NYSE:AU), Gammon (NYSE:GRS), Iamgold (NYSE:IAG), who along with most gold companies trading in New York dropped on the day.Gold futures on the other hand

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David Einhorn Adds African Barrick Gold (LON:ABG), Increases Gold Exposure

David Einhorn, hedge fund manager of Greenlight Capital, said he’s increasing his exposure to gold, and has bought African Barrick Gold (LON:ABG) shares, primarily because they’re lower priced than other miners.Einhorn recently said at an investment meeting of Greenlight Capital, that ‘We tend to think of gold as a currency, I think there’s going to be a lot of inflation.” Citing the sovereign

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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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NovaGold Resources (AMEX:NG), Apollo Gold, (AMEX:AGT) Iamgold, (NYSE:IAG) Down On Gold Swings

While I believe gold will continue on its upward trajectory for many years to come, there are going to be seasons of volatility and corrections on that journey, and gold mining companies such as NovaGold Resources (AMEX:NG), Apollo Gold (AMEX:AGT) and Iamgold (NYSE:IAG) can be expected to move up and down with those gold prices.For the day, all three companies ended slightly down, as gold prices

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Gold Prices Today Level So Far

Gold prices today as of about 12:00 P.M. EST, are pretty much level, standing at $1,238.00 after two days of soaring to record highs, as the mulling over of the consequences of Europe’s almost $1 trillion bailout offer to irresponsible countries has investors concerned. Most people are starting to understand that you can’t spend more money to take care of a situation where people are already

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How High Gold Prices Going?

The perfect storm seems to be gathering for gold, and the question on how high gold prices will go must be asked by all investors concerned over the safety of their capital. While the obvious part of the brewing economic storm is the sovereign debt crisis in Europe, China has people concerned as well, not only because of a potential property bubble, but the implications of fighting that bubble

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Gold Fields (NYSE:GFI), Harmony Gold (NYSE:HMY) Rise on Safe Haven

Gold Fields Ltd. (NYSE:GFI) and Harmony Gold (NYSE:HMY) rose along with gold prices today as investors flee for safety to the yellow metal as equities continue to crash. Gold has exploded past $1,200 an ounce in electronic, after-hours trading, surpassing the $1,211 mark at one time, and as of this writing was only about $10 off its all-time high.The growing realization of how deep the sovereign

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Gold Reaching for $1,200 On Sovereign Debt Crisis

Gold continues to surge upwards as the European sovereign debt crisis takes center stage on the economic scene. Gold prices rose to as high as $1,188.40, a five-month high. It looks like there’s little resistance to reaching $1,200 sometime soon under these conditions, and it’ll probably surge up again once it surpasses that marker. A couple things gold has going for it is it can rise on a

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