Posted by AGORACOM
at 10:23 AM on Monday, August 15th, 2011
Subsequent to Nixon’s decision 40 years ago, the U.S. dollar has fallen from 1/35th of an ounce of gold to 1/1750th of an ounce of gold today.
I urge everyone to watch this video and read the excerpts to this great article on ZeroHedge. Â Though I don’t want to believe the demise of the $USD is imminent, I have to believe it is inevitable.
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On this day, August 15th, 40 years ago, President Nixon announced the end of the Gold Standard and the end of the Bretton Woods international monetary system. This was one of the most important decisions in modern financial, economic and monetary history and is a seminal moment in the creation of the global debt crisis confronting the U.S., Europe and the world today.
The President of the World Bank, Robert Zoellick, wrote in the Financial Times (‘The G20 must look beyond Bretton Woods II’ – November, 2010) that a new monetary system involving a basket of currencies “should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency valuesâ€.
Ex Economics Editor of The Telegraph, Edmund Conway wrote over the weekend how “we’ve had the financial crisis that usually marks the beginning of the end of established monetary systems. And now we are seeing the debasement.â€
Posted by AGORACOM
at 4:14 PM on Friday, August 12th, 2011
You may have heard the time high-frequency trading (HFT), also known as algorithmic trading and most well known amongst the masses as black box trading. There is plenty of debate about the value of HFT, with dissenters referring to the network of HFT as “Skynet”, the computer that took down the world in the Terminator Series and defined as:
“an artificially intelligent system which became self-aware and revolted against its creators. Skynet is rarely seen onscreen, and its actions are often performed via other robots and computer systems, usually a Terminator.”
I personally don’t bother trying to trade in seconds and still believe 1-3 day swing trades are profitable. You can form your own opinion after reading up on it … but here is a visual as to how sick HFT has become … this is 1 second of trading stretched over a minute, otherwise your eyes simply wouldn’t see a thing.
The first 30 seconds or so are the world we used to know … after that it is HFT world … all of it takes place in 1 second.
Posted by AGORACOM
at 11:41 AM on Friday, August 12th, 2011
I’ve been unwavering in my call for continued US real estate carnage since 2009 … nothing has changed my mind and I continue to believe it gets worse … my friend Barry Ritholtz agrees BUT he does pitch a great solution around immigration policies that I totally agree with.
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Posted by AGORACOM
at 12:29 AM on Monday, August 8th, 2011
I won’t say anything more than thanks to my friend Barry Ritholtz for this awesome snapshot of The $14.3 Trillion US Debt picture. Read his blog and learn!
Courtesy of Barry Ritholtz
Posted in All Recent Posts, China, US Economy | Comments Off on SNAPSHOT: How $14.3 Trillion Debt Was Acquired .. & Who Holds It
Posted by AGORACOM
at 10:21 AM on Saturday, August 6th, 2011
AGORACOM WIRE – WEEKEND EDITION
10:15 Â AM … BREAKING …. S&P STRIPS UNITED STATES OF AAA CREDIT RATING …. Full Details
Does This Now Make QE3 A Lock? We Don’t See Any Other Choice … Any Fallout In Bond Market Creates Higher Interest Rates, Making US Debt Service Untenable …Â GOLD … GOLD … GOLD
To America … Emigrate To Canada … Fast This Post By George Caused A Stir Around The Web On July 27th … Hold On To Your Hats Now That It’s Been Updated
On March 30th, then again on April 11th, George predicted QE3 would be delayed due to politics, cause damage and then be ushered in … We Don’t See How It Can Be Avoided Now
AMERICA LOSES AAA RATING
Markets Hit Hard Since QE2 Ended June 30th
FOMC Meeting Is August 9th
Marc Faber – Next Week Will Show If Bernanke Is A True Money Printer, Or An Amateur ZeroHedge
Former Federal Reserve Officials Signal QE3 Support AGORACOM Twitter
