Limits Put on Some Oil Contracts On ICE Amid Outcry Over Prices
By IAN TALLEY
June 17, 2008
WASHINGTON — The U.S. commodity futures regulator Tuesday said ICE
Futures Europe has agreed to make permanent position and
accountability limits for some of its U.S.-traded crude contracts,
subjecting itself to the same regulatory oversight as its New York
based counterpart.
Following intense scrutiny and [...]
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Posted in dollar on June 14, 2008 | 1 Comment »
From Times Online
June 13, 2008
Vietnam on brink of Thai baht-style currency crisis of 1997
Rhys Blakely, Bombay
Vietnam, until recently a poster child among emerging economies, is on the brink of a currency collapse, which would mirror the rout of the Thai baht that sparked the Asian crisis in 1997.
This week the State Bank [...]
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on today’s seismic Treasury selloff:
“The point is that the world was long Treasury, and we can see how they’ve been suckered.”
In other news, more insanity from the federales, who think they can permanently reduce commodities prices by shoving out leveraged players.
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Didn’t get this memo. No sir.
Fetch your tin helmets once again. The European Central Bank is opting for a monetary purge. So too is the US Federal Reserve, now ruled from Dallas.
Über-hawks and Cromwellians have gained the upper hand at the great fortress banks. Whether or not they admit it, both are embarked on policies [...]
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Thomas Palley, Open Society Institute pontificator emeritus cum DC-cocktail laude, mocks himself best when he’s most honest. As do most political people.
Defending the Bernanke Fed
Filed under: U.S. Policy, Uncategorized — Administrator @ 6:37 am
Federal Reserve Chairman Ben Bernanke has recently been on the receiving end of significant criticism for recent monetary policy. One critique [...]
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There were about five pieces of news on Friday that delivered such a massive upside kick to oil.
1) Chinese oil consumption numbers came in much higher than expected.
Wall Street is still being blindsided by the impact of the Sichuan earthquake, and apparently most of it is ignorant that ~30 percent of Chinese oil/ natgas/ heating [...]
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Posted in dollar on June 4, 2008 | No Comments »
for the lack of posting recently.
I have been extremely busy, but things should lighten up by Saturday or Sunday.
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“With Bold Steps, Fed Chief Quiets Some Criticism”:
[...]
“It has been a really head-spinning range of unprecedented and bold actions,” said Charles W. Calomiris, professor of finance and economics at Columbia Business School, referring to the Fed’s lending activities. “That is exactly as it should be. But I’m not saying that it’s without some cost and [...]
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via
Using figures compile [sic] by independent research house GFMS Ltd., the council says the consumption of 31.5 tons in the first quarter shows a steep increase of 110% year-on-year and accounting for 43% of the world’s net retail investment demand of 72.2 tons in the period.
Vietnam’s arrival into pole position in the retail investment sector [...]
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Posted in dollar on May 27, 2008 | 3 Comments »
“Sometimes anecdotal evidence is the best evidence” …
For decades, the Drug Enforcement Administration has measured the price and purity of illicit drugs. Its methodology is cryptic, but the dea says it’s a reliable way to spot trends.
And it says it has spied one: The cost of pure coke rose 44 percent in the United States [...]
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Soros must be fuming that he dumped commodities and called a bottom in equities when he did.
Soros’s public pronouncements are consistently somewhat at odds with how he actually invests. (He couldn’t have made money any other way; the track record of his public pronouncements is awful.) This instance, presumably, is no exception.
Not that he has [...]
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Posted in dollar on May 21, 2008 | 4 Comments »
Shortage fears push oil futures near $140
By Carola Hoyos and Javier Blas in London
Published: May 20 2008 19:06 | Last updated: May 21 2008 00:52
Fears of a shortage within five years propelled long-term oil futures prices to almost $140 a barrel on Tuesday, further stoking inflationary pressures in the global economy.
Investors rushed to buy oil [...]
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Posted in dollar on May 19, 2008 | No Comments »
lolol…
The brand spanking new Airbus 340-600, the largest passenger airplane ever built, sat in its hangar in Toulouse, France without a single hour of airtime. Enter the Arab flight crew of Abu Dhabi Aircraft Technologies (ADAT) to conduct pre-delivery tests on the ground, such as engine runups, prior to delivery to Etihad Airways in Abu [...]
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IFR:
[13:57 US GOVTS: Fallout From Credit Crisis Seen in TIC Data]
Boston, May 15. Though foreigners continued to buy treasuries (a record $55 bln) and agency ($18 bln) paper hand over fist in the latest March TIC data the net flow for the month was actually a negative $48 bln. While far from an expert in [...]
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Posted in dollar on May 6, 2008 | No Comments »
Abu Muqawama. (Good name–”Dr. iRack”)
Added to blogroll.
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Right-wing hedge fund legend Bruce Kovner, responding to the standard “How do you make all of your money?” question, supposedly said, “From stupid governments.” Speaking of which:
Asian Ministers Agree to Pool $80 Billion of Reserves (Update1)
By Keiko Ujikane and Seyoon Kim
May 4 (Bloomberg) — Finance ministers from 13 Asian nations agreed to create a [...]
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May 2 (Bloomberg) — A month after the Federal Reserve rescued Bear Stearns Cos. from bankruptcy, Chairman Ben S. Bernanke got an S.O.S. from Congress.
There is “a potential crisis in the student-loan market” requiring “similar bold action,” Chairman Christopher Dodd of Connecticut and six other Democrats wrote Bernanke. They want the Fed to swap Treasury [...]
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Forget about NYC ever recapturing London’s financial crown. What sane hedge fund manager would de-privatize all his information, and submit to “surveillance” by the very Praetorians who have exacerbated every shock of the last 20 years?
Treasury eyes stronger powers for Fed
By Gillian Tett in London and Krishna Guha in Washington
Published: April 29 2008 23:23 | [...]
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What would happen when non-government T-bill chumps figure out that they’re getting between negative 5 percent and negative 9 percent real interest on a 2-year Treasury note?
… In March, consumer prices rose 0.34 percent, for an annualized rate of more than 4 percent, according to the U.S. Department of Labor. That’s only slightly lower than [...]
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