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The silver market, no stranger to controversy, has long been the focus of manipulation theorists. At a CFTC hearing Tuesday to consider new rules to strengthen its commodity-enforcement powers, commissioner Bart Chilton said market players have made "repeated" and "fraudulent efforts to persuade and deviously control" silver prices.
(Reuters) - A rash of large mining companies planning to list in London could leave the most closely watched share index at the mercy of commodity prices and emerging markets. Ten mining companies, five of them Russian, are at various stages of coming to market, adding a further layer of risk to investing in the FTSE 100 .FTSE, a benchmark that already has a heavy weighting of resource groups.
Demand from emerging markets has lifted mining stocks, and helped prop up the index at a time of uncertainty over economic growth, but this dependence has a distinct downside...
...Energy and mining firms account for 31 percent of the index by weighting, up from 18 percent at the start of the decade....
By flooding the world economy with yet more freshly minted dollars, America further undermines faith in the greenback as an internationally reliable store of value and is thereby squandering an economic and geo-political asset of huge importance to the nation's history.
The dollar's reserve currency status means that America can borrow at will in its own currency from the rest of the world, and at favourable rates to boot. This privilege is being recklessly thrown away. Every time the Fed prints more dollars to fight the domestic recession, it further devalues that debt. The lenders are understandably getting restless.
As is now becoming steadily more apparent, dollar hegemony was a major underlying cause of the crisis, for it allowed America to go on an unrestrained borrowing binge; the developing world is ever more minded to think its demise part of the solution.
The Fed is taking a massive gamble with America's long term future by blindly pursuing further monetary stimulus; it may take time, but the dollar's all powerful reign on the world stage is drawing to a close.
Larry Summers – who departs as the President's economic adviser in January – puts it like this: "For how much longer", he asks, "can the world's top borrower carry on being the world's top power?" It's a good question.
Originally posted by xxshadowfaxx
I'm betting there will be a triple digit rally today on the dow. This will be seen as very good news to investors. It's bad for the dollar, but everyone will see it as a necessary step into improving the economy.
My personal opinion, I think its absolutely retarded. I might as well keep paying my visa with my mastercard and tell myself im out of debt.