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Markets

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Signs Of The Times

Sep 01, 2007 at 00:00

Our theme since April has been that bull markets typically conclude with rational exuberance. Rational in the sense that typically the concluding stage runs some 12 to 16 months against…

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Now Comes the Macro Part

Sep 01, 2007 at 00:00

The August events in the currency markets dealt a severe blow to carry trades amid a sharp reduction in risk appetite impacting liquidity in a highly leveraged financial landscape. Escalating…

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The Dichotomy of M1 and M2

Sep 01, 2007 at 00:00

I'm sure we'll read every possible analysis about the "imminent" rate cut on the benchmark Fed Fund's Rate before (and possibly even more after) the next FOMC meeting. As a…

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Why Balance Sheets are Not in Good Shape

Sep 01, 2007 at 00:00

One frequent claim used to calm fears in the recent market turmoil has been that "corporate balance sheets are in good shape". Judging from the published accounts of companies the…

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Demanding the Supply of a Stable Currency

Sep 01, 2007 at 00:00

All fluctuations in a currency's value, which can be noted in the foreign exchange market and currency's exchange rate with gold, are the result of the mismatch of supply and…

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America's Credit and the New Bid for Gold

Sep 01, 2007 at 00:00

...So George W.Bush is going to nationalize the US housing market. If that sounds dramatic, then just watch what happens to gold...

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Alarming Silver Technicals

Sep 01, 2007 at 00:00

Commodities and commodities-stock speculators have had quite a rough-and-tumble last full month of summer. In a season where the markets typically hold traders in a mire of malaise, various extraneous…

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The Writing is on the Wall

Sep 01, 2007 at 00:00

The one thing all bubbles have in common is that they eventually pop, and ours just did. Unlike the popping of the last bubble in 2000-2001, this one will fall…

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Just Roll With It?

Sep 01, 2007 at 00:00

There has been much written over the past month about credit market turmoil in the US, that has now clearly spread well beyond US borders in terms of fallout. As…

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Gold Ratios

Sep 01, 2007 at 00:00

I am not bullish on gold because I am a 'go gold!' booster. I am bullish on gold because I am bullish on gold - for reasons belabored over the…