Posts Tagged ‘Economics’
Alert - 10 May 2009
The US Dollar Breaks Down
Last week the US dollar dropped 2.7% against both the euro and the Swiss franc. The dollar fell 2.4% against the basket of currencies comprising the US Dollar Index.
The dollar has been in a bear market rally since last July. Last weeks decline is further evidence that this bear market rally has ended, which is clear from the following chart.
http://goldmoney.com/en/images/commentary-images/commentary-charts/alert_2009-05-10a.jpg
The last bear market rally in the US Dollar Index topped out on November 16, 2005 at 92.33 (green dashed line). The current bear market climbed to only 89.11, well below the previous peak, which is a clear sign of weakness. The pattern of lower highs therefore remains intact, confirming that this index is still declining within a long-term downtrend.
Importantly, we can see that the US Dollar Index has now broken down from the uptrend channel marking the present bear market rally. Then on Friday it easily knifed down through its 200-day moving average, currently at 83.01. Next support for the index rests around 80, which marked the December 2004 low (red dashed line).
It is too early to say that the US Dollar Index is headed for a new all-time low. It may be that this index is just moving into a broad trading range, say, between 89.11 and the black dashed line. After all, the euro and other currencies that make up this index are not in much better shape than the dollar. In other words, the purchasing power of all national currencies is being inflated away.
http://GoldMoney.com/en/commentary/2009-05-10.html
Duration : 0:3:20
Professor Floy Lilley reads the first part of Ron Paul’s important monograph, “Gold, Peace, and Prosperity: The Birth of a New Currency.”
Ron Paul has been the leading champion of sound money in Congress. Here he explains why sound money means a new gold standard.
This monograph is written in the clearest possible terms with the goal of explaining the basics of paper money and its effects of inflation, business cycles, and government growth.
He maps out a plan to bring about a dollar that is as good as gold, one that would be protected against manipulation by government and central bankers.
This monograph first appeared in 1981, and it has been in wide distribution ever since.
Henry Hazlitt writes the introduction, and Murray Rothbard writes the preface.
This audiobook is also available for download in MP3 audio format at http://mises.org/multimedia/mp3/audiobooks/GoldPeaceProsperity.mp3.
Duration : 0:56:42
Rudimentary economic justification for adhering to a 100% gold standard. This video explains how inflation is a direct continuation of what’s fundamental under a fiat currency model establishment where monies are printed with no backing.
Anton_Batey@yahoo.com
Duration : 0:4:46
Interview with Bill Murphy of www.GATA.org and www.LeMetropoleCafe.com
Duration : 0:7:39
Good interview for an update in the gold markets. James Turk is very knowledgeable. Goldmoney.com offers a great way to invest in gold and have overseas storage (London or Zurich). Check it out
www.GoldMoney.com
http://en.wikipedia.org/wiki/Goldmoney
Duration : 0:6:54
Good interview for an update in the gold markets. James Turk is very knowledgeable. GoldMoney.com offers a great way to invest in gold and have overseas storage (London or Zurich). Check it out
www.goldmoney.com
http://en.wikipedia.org/wiki/Goldmoney
Duration : 0:6:44
Recorded at the Mises Institute Supporters Summit, 1 November 2008; Auburn, Alabama. Walter Block is a professor and chair of economics, college of business administration, at Loyola University. See WalterBlock.com for more information.
Duration : 0:27:24
Alan Greenspan talks about monetary policy and the gold standard in an interview. His ideas sound similar to those of Ron Paul.
http://www.haohanchinese.com
Learn Mandarin Chinese in Beijing, China
Duration : 0:1:46
James Turk is Founder and Chairman of Gold Money. Mr. Turk has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. His business career began at The Chase Manhattan Bank (now JP Morgan Chase Bank), which included ignments in Thailand, the Philippines and Hong Kong. He subsequently joined the investment and trading company of a prominent precious metals trader based in Greenwich, Connecticut. He moved to the United Arab Emirates in December 1983 to be appointed Manager of the Commodity Department of the Abu Dhabi Investment Authority, a position he held until resigning in 1987.
Duration : 0:5:3
James Turk is Founder and Chairman of Gold Money. Mr. Turk has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. His business career began at The Chase Manhattan Bank (now JP Morgan Chase Bank), which included ignments in Thailand, the Philippines and Hong Kong. He subsequently joined the investment and trading company of a prominent precious metals trader based in Greenwich, Connecticut. He moved to the United Arab Emirates in December 1983 to be appointed Manager of the Commodity Department of the Abu Dhabi Investment Authority, a position he held until resigning in 1987.
Duration : 0:10:1