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You're probably hoping you don't see Wilma this year, too...
http://flhurricane.com/general.php
Inquiring minds want to know... why'd they skip 'Q' and 'U' ??
We'll see.... Blair is hardly in a position to make concessions to the French, who aren't liked any more in the UK than they are here. I can just picture the next Question Time if he does...
Maybe they'll try to finesse a way for both sides to declare victory, but Chirac may prefer to have the English as scapegoats for the time being.
BTW, where's Zeev?
Well, good. Maybe the Europeans are selling Euros and buying Gold. I sure as hell would be if I lived in the Euro Zone.
I think the chart that would highlight divergences from the normal $US/POG relationship would have to use the inverse of the $US Index, i.e. $GOLD:1/$USD
Any idea how to do that in Stockcharts?
Dan - I wasn't worried about the IMF selling their holdings. The gold-producing countries like the U.S., Canada and Australia have too much influence.
As for revaluation, was that ever a threat to the POG?
BTW, do you think that the POG's strength yesterday afternoon, in the face of an equally strong $US, was caused by the IMF news? That would make sense, as the other PM's didn't move at all...
What a setup... Chirac knows perfectly well that Blair won't - can't - give in. All he wants is to ruin the meeting that Blair is chairing, and in which EU tradition dictates that the host country leads the agenda.
What a jerk. The only policy Chirac has left is being against the "Anglo-Saxon menace".
Hey Dano, do you know of any sites that chart Gold in currencies other than the $US?
It all depends on your time frame, I would guess.
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That's for sure. To take an extreme case, between 3/9 and 4/28, the HUI dropped nearly 22%, while Gold only dropped 2%. That's one heck of a differential.
This was the period in which at least on miner, NEM, announced quarterly numbers in which gross revenue had dropped 15%, but operating expenses had only dropped 1%.
There seemed to be a general feeling that the miners' costs were running away from them, while revenues were not keeping up.
One reason is that their costs of production have been soaring...
Yes, but the good news is that, with the explosion of wide-screen television sales, boxes are getting more spacious all the time.
Think I could get a job thinking up spin for Elaine Chao?
Does a recession require two quarters w/o real growth or nominal growth? Seems that the rate of inflation, even the bogus one put out as the CPI may soon be greater than the published growth rate...
I'm really sorry I missed that...
DECK blamed the weather and said that people had only "postponed" their sandals purchases. Might be true, or it might be that their stuff has gone out of style. I don't see how they could really know, one way or another...
THey said "expectations" were contained, not inflation. Heck, I've been containing my expectations since I was about three. That's no big deal...
Perhaps, but you could have said the same thing, for the same reason, in late August...
Oh, I agree, but I was talking about the Dollar, which is a whole 'nother animal...
I suppose. But the betting before the news was that they'd remove "measured pace". They didn't, which indicates an unwillingness to really defend the $US.
At any rate, I saw that Fed news as being at best neutral for the $US, and hardly the strongly bullish news that the currency market apparently sees it as...
$US exploding upward after the Fed news. I'm a little puzzled, in that "increasing inflation pressures" and "more pricing power" combined with the refusal to removed "measured pace" would seem to be bad for the $US.
So, what's the raionale? (I don't want to know whether the rationale makes sense or not, only what it is.)
Looking into $US rise a little more... apparently, it's all because of the EU allowing its member states more flexibility in their budgets (i.e. higher deficits). This is viewed as being bad for the Euro, which, IMO, is correct.
The $US thus rises, in relation to the Euro.
The problem for Gold is that it is so strictly tied to the value of the $US in relation to other major currencies. This is the scenario that has scared the crap out of me for quite some time, that is, that all the fiat currencies will go down the tubes, and Gold will slavishly follow along.
Granted, at some point, Gold will detach from the $US/Euro ratio, but the longer it takes to do so, the more holders of Gold will lose in real value. Today was a clear sign that the POG is not nearly ready to make that move.
Hello Dan... Can you tell me the "reason" (whether it makes sense or not) for the big move in the $US and Gold over the last five days, and especially today? I've been out all day...
thx
The Bush administration contends the soaring trade deficits reflect a U.S. economy that is growing faster than the rest of the world, pushing up imports and dampening demand for U.S. exports.
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There's a real Through the Looking Glass quality to that idea. Do you think that when the deficit drops (if it ever does), that they'll say it's a bad thing, and is a sign that the U.S. economy is underperforming the rest of the world?
Not a bad idea. After all, we give Utah all that water, and do they even thank us?
I'm afraid, though, that the Colorado in that area is just a glorified stream, and wouldn't have nearly enough water for the purpose, even if we could use it all. Looks like that oil is going to stay there until the price hits $150/bbl...
Actually, the world's largest oil "field" is, to my knowledge, about 130 miles southwest of where I live in Colorado, in the Green River Formation. It's thought to be hundreds of billions of barrels. Too bad it's all locked up in shale, and would require at least half as much energy to extract as it would provide, and many times more water than is available...
Probably not, especially since he'd probably have just flown in the window...
At least Greenspan isn't being hypocrital. He's what, about 118 years old, and he's still working...
Gold doing OK, but miners are having a second poor day. Silver and Platinum are even with yesterday, and actually down from two days ago. Rather strange, with the $US dropping, and all...
I wonder how they measure "imports". Obviously ,the cost of the oil they're importing is way up. Nevertheless, the increased exports were mostly heading for WalMart, I'm sure...
That is interesting. It's not on Briefing.com's upgrades/downgrades site, although they have the downgrade in their news archives. I wonder if Roth pulled it?
Deficit over $60B? What's expected, and why do you think it will be so high? Seems like that would really hurt the $US if it happens...
NEM sued, FCX downgraded, HUI getting whacked... even though $US is down from yesterday.
Who's Kramer? I don't see any Kramer. We must be in parallel universes, which would explain the duplicate numbers. Apparently his universe caught up to mine...
Good grief. What's wrong with these people? They couldn't be straight if their lives depended on it...
In the First Defenestration, the defenestratees landed on pikes held up by an angry mob, so it didn't really matter how far they fell. In the Second, they landed on a pile of garbage, and so escaped. Masaryk, being the boss in the Foreign Minstry, had the misfortune of having his office on the top floor...
Don't forget that the Russians (or their Czech servants) threw the Czech Foreign Minister, Jan Masaryk, out a window in 1948, the so-called "Third Defenestration of Prague".
There haven't been shares available to short for a while, and I want some. Maybe some of those short sellers who are covering will make some available?
Thanks. That's interesting. Not at all the case with AGH, except possibly for the buyout part. Do you have some information about a buyout, or is that an educated guess?
I'm thinking that, even w/o a buyout, they would be a good purchase just after the div.
GETI - yes, they are going into debt to pay the div, and bringing their tangible book value down to zero. I can't really say why they are doing it, but I suspect that they expect to continue to grow profits, and that their PE (after the debt increase and the corresponding market cap decrease) will be better than it is now.
Also, AGH is proposing a similar move, although they'd actually put their tangible book value deeply in the red.
I think this may be the start of a trend amongst companies that are profitable and expect to stay profitable...
GETI - The story I linked to is recent, but they first announced the plan on 2/2, and the stock jumped 10% that day (and has pretty much stayed up).
It's a very interesting story. Essentially, the stockholders are borrowing money from whatever bank takes the business. They are betting that the company's growth rate is better than the interest rate on the loan. Since their top line is growing very fast, it may not be a bad bet...
Now this is a dividend play...
http://biz.yahoo.com/bw/050228/286232_1.html
I'd love to short TPE, but I can't find any shares, even trying five different brokers...