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Swiss Franc approaching parity with US DOLLAR - gold moving $785
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Mr. Berkut
User ID: 74095
9/20/2007 12:09 PM
Report abusive post | Swiss Franc approaching parity with US DOLLAR - gold moving $785
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Gold
The break out of the short-term consolidation phase has yielded a strong advance, with very little corrective activity witnessed
over the past two weeks. The minimum target zone is situated between $733 and $745, with last year’s $730 high providing aninterim barrier.
The market is beginning to struggle to maintain topside momentum, but we continue expressing a positive view, albeit cautious,at current levels. Immediate support is represented by $712. If this level gives way, the door will be open for a retracement into
the $706 to $704 region, with trendline support (previously a resistance line) protecting the downside around $700 — we do notexpect corrective activity to break back below $700.
Above $700 gold is expected to establish an important support base,
providing the platform for a move into the $765 to $785 area. In the event of a decline through $700, the near-term bias
would turn weak, exposing the market to $685, from where the next impulsive move higher is envisaged. |
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Mr. Berkut
User ID: 297914
1/4/2008 1:33 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
1.10 sf to one dollar. almost par. gold over 860 per oz. |
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Anonymous Coward
User ID: 126343
1/14/2008 2:23 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
 |
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Mr. Berkut
User ID: 346539
3/17/2008 11:30 AM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
bump |
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Anonymous Coward
User ID: 346539
3/17/2008 11:34 AM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
Currency Chg%
March 17, 2008
Swiss Franc +1.47% 03/17-11:30 0.9837 1.0166 998.21 -2.64 -0.26%
X=1$USD NY Time X=
1$USD X$USD
=1 Gold
Price/oz Gold
Chg Gold
Chg%
US Dollar -- 03/17-11:30 -- -- 1014.80 +12.30 +1.23%
Australian Dollar -1.87% 03/17-11:20 1.0865 0.9204 1102.58 +33.31 +3.12%
Brazilian Real -0.40% 03/17-11:30 1.7171 0.5824 1742.51 +28.04 +1.64%
British Pound -0.52% 03/17-11:29 0.4979 2.0086 505.22 +8.73 +1.76%
Canadian Dollar -0.63% 03/17-11:20 0.9953 1.0048 1009.98 +18.46 +1.86%
Chinese Yuan -0.03% 03/17-05:59 7.0880 0.1411 7192.90 +89.19 +1.26%
Euro +0.77% 03/17-11:30 0.6332 1.5794 642.52 +2.88 +0.45%
Indian Rupee -0.04% 03/17-09:33 40.4700 0.0247 41068.96 +512.82 +1.26%
Japanese Yen +2.30% 03/17-11:30 96.8050 0.0103 98237.71 -1095.00 -1.10%
Mexican Pesos -0.08% 03/17-11:29 10.7788 0.0928 10938.33 +141.40 +1.31%
Russian Ruble +0.38% 03/17-11:20 23.4983 0.0426 23846.02 +199.51 +0.84%
S.African Rand -2.80% 03/17-11:30 8.1560 0.1226 8276.71 +323.12 +4.06%
Swiss Franc +1.47% 03/17-11:30 0.9837 1.0166 998.21 -2.64 -0.26% |
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Anonymous Coward
User ID: 441501
6/29/2008 4:06 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
bump |
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BRIEF AND TO THE POINT
User ID: 459389
6/29/2008 4:27 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
Gold will only go up as the dollar falls and fuel prices rise.
GOLD
06/27/2008
17:10
926.80
927.60
+10.00
+1.09%
916.50
931.60
SILVER
06/27/2008
17:09
17.48
17.52
+0.34
+1.98%
17.29
17.68
PLATINUM
06/27/2008
16:15
2042.00
2049.00
-11.00
-0.54%
2026.00
2077.00
PALLADIUM
06/27/2008
15:57
466.00
474.00
+1.00
+0.22%
461.00
475.00 |
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ANONOMOUS COWARD
User ID: 459857
6/29/2008 4:45 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
GOLD OIL PRICES AND COMMODODIES ARE NOT SUBSTANABLE .. CRASH COMING SOON.TYPOS FREE.. MARKETS ARE TANKING THAT ALONE WILL DRIVE PRICES DOWN.. |
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Anonymous Coward
User ID: 459413
6/29/2008 4:50 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
GOLD OIL PRICES AND COMMODODIES ARE NOT SUBSTANABLE .. CRASH COMING SOON.TYPOS FREE.. MARKETS ARE TANKING THAT ALONE WILL DRIVE PRICES DOWN.. Quoting: ANONOMOUS COWARD 459857
Sell me all of your gold at $785 right now!!!!!!!!!!!!!
Crash is coming in equities and the dollar.
Gold will do well. It is the safest place to be - period. |
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ANONOMOUS COWARD
User ID: 459857
6/29/2008 4:52 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
SAME SITUATION EXISTED IN THE EARLY EIGHTIES .GOLD TANKED FROM OVER 800 HIGH TO LESS THAN 400 OIL TANKED TO 18 BARREL MID 80 S AND STAYED DOWN FOR A DECADE ..SEARCH STATS ... IRAN HELPED RATCHET UP TENSIONS IN 1970S 1980S ..JUST LIKE NOW FOR OPEC CARTELS PROFITS. |
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Paradigm 
User ID: 459717
6/29/2008 5:01 PM
 | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
SAME SITUATION EXISTED IN THE EARLY EIGHTIES .GOLD TANKED FROM OVER 800 HIGH TO LESS THAN 400 OIL TANKED TO 18 BARREL MID 80 S AND STAYED DOWN FOR A DECADE Quoting: ANONOMOUS COWARD 459857
But do you know WHY that happened? Statistics dont meant anything unless they have reasons behind them. And it had very little to do with the middle east.
2 main reasons:
1. Volker raised rates substantially thus decreasing the money supply
2. The US had a manufacturing inferstructure
Now do you notice something different between then and now?
Swimming in a sea of fractals |
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Berkut
User ID: 441501
6/29/2008 6:40 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
Intervention Will Not Stop the Dollar's Slide
By Peter Schiff
Jun 27 2008 3:48PM
www.europac.net
This week the Federal Reserve took a step closer to acknowledging reality. Unfortunately it didn’t let that admission move it from a policy course firmly guided by fantasy. In its policy statement, Bernanke & Co. took the important step in noting that inflation expectations had taken hold in the country at large. However, in asserting that it expects inflation to moderate this year and next, the Fed gave no indications that these heightened expectations are gaining traction within the Open market Committee itself. As a result, it signaled no likelihood that it was actually prepared to do something to fight a problem which it doesn’t really believe exists in the first place.
In fact, by indicating that they expect inflation to moderate, the Fed is saying that elevated expectations are unwarranted. In other words, Bernanke claims that despite the fact that so many people are carry umbrellas, he still believes it will be a sunny day. The takeaway from the statement is that no rate hike is forthcoming. The markets saw this position for what it is….capitulation to inflation and a weakening dollar. No surprise then that the gold responded with the biggest single day gain in more than 20 years!
With the ensuing carnage on Wall Street, many Thursday morning quarterbacks claimed the Fed missed an opportunity to reverse the dollar’s slide by either talking tougher or perhaps actually raising rates a quarter point. If the Fed really believed it could talk the dollar up, or that a small rate hike would do the trick, they would have given it a try. I believe they chose a dovish route because of a greater fear of having their hawkish stance casually disregarded. Imagine what would happen if the Fed raised rates and the dollar kept falling? It would be like one of those horror movies where someone holds a cross up to a vampire, and the Count tosses it aside with nary a cringe.
Others claim that now is the time for coordinated central bank intervention to reverse the dollar’s decline. Those who place their faith in such a plan, overlook the fact that Asian and Middle East central banks have been unsuccessfully intervening on the dollar’s behalf for years. Those nations maintaining dollar pegs must constantly intervene in the foreign exchange markets by buying dollars to keep their own currencies from rising in value. Over the past few years the scope of this intervention has been unprecedented, with foreign central banks accumulating trillions of excess dollar reserves. Yet despite these Herculean and misguided efforts, the dollar has fallen drastically.
Intervention advocates must believe that if the ECB and a few other central banks joined the fray, that a better outcome would be achieved. However any additional efforts to artificially prop up the ailing dollar will be equally ineffective. Even if ECB intervention could slow the dollar’s decent, what possible reason would they have for doing so? The ECB is already concerned about inflation and is preparing to raise rates as a result. Intervention to support the dollar will only worsen Europe’s inflation problem and run counter to these efforts. This is because to buy dollars the ECB must increase its own money supply. That is exactly what is happening in countries like China and Saudi Arabia, which is why inflation in those nations is already much higher than it is in Europe.
Further, since the ECB is asking Europeans to endure higher interest rates to fight their inflation battle, why should they have to make additional sacrifices to help Americans fight their own inflation? Especially when our own central bank has held interest rates at the ridiculously low level of 2%, and has effectively excused Americans from the conflict.
Since we can’t count on any help from our friends, the only option would be for the Treasury to intervene unilaterally. However, the U.S. government should think twice about bringing a knife to a gunfight. The Treasury only has about $75 billion in foreign currency reserves with which to intervene. The war chest is just a spit in the ocean. To put this number in perspective, Poland has $77 billion, Turkey has $78 billion, and Libya has $79 billion. On the other end of the spectrum, China has $1.7 trillion (not counting Honk Kong’s 150 billion) Japan has $1 trillion, Russia has $550 billion, India and Taiwan each have about $300 billion. Singapore, a nation with fewer than 5 million people, has $175 billion. In fact, the United States holds just about 1% of the world’s $7.6 trillion of foreign currency reserves, and our total position amounts to just 2.5% of the total daily volume of foreign exchange trading. Talk about Bambi vs. Godzilla! In other words, if the dollar is going to fall, the Treasury is completely powerless to do anything to stop it.
For a more in depth analysis of our financial problems and the inherent dangers they pose for the U.S. economy and U.S. dollar denominated investments, read my new book “Crash Proof: How to Profit from the Coming Economic Collapse.” Click here to order a copy today here.
Peter D. Schiff
President
Euro Pacific Capital, Inc.
10 Corbin Drive, Suite B
Darien, Ct. 06820
phone 203-662-9700
toll free 888-377-3722
****
More importantly, don’t wait for reality to set in. Protect your wealth and preserve your purchasing power before it’s too late. Download my free research report on the powerful case for investing in foreign equities available at www.researchreportone.com , and subscribe to my free, on-line investment newsletter at [link to www.europac.net] |
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Mr. Berkut
User ID: 100864
7/1/2008 10:12 AM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
PRESS RELEASE
---------------------------------------------------------- ----------------------
`A Valid Warning:' BIS Warns of Worse Crunch To Come
June 30 (EIRNS))—City of London mouthpiece Ambrose Evans-Pritchard of the Daily Telegraph commented on the new annual report of the Bank for International Settlements (BIS) today, saying that its aim is to "face challenges last seen during the onset of the Great Depression."
Evans-Pritchard's report is a "valid warning shot of the sudden change in the world financial situation for the worse which is in process," commented Lyndon LaRouche.
Written by departing chief economist Bill White, the BIS's 78th Annual Report, released today, states: "The current market turmoil is without precedent in the postwar period. With a significant risk of recession in the U.S., compounded by sharply rising inflation in many countries, fears are building that the global economy might be at some kind of tipping point," it said. "These fears are not groundless. The magnitude of the problems yet to be faced could be much greater than many now perceive. It is not impossible that the unwinding of the credit bubble could, after a temporary period of higher inflation, culminate in a deflation that might be hard to manage, all the more so given the high debt levels."
Pritchard comments that the European banks have suffered worse losses on U.S. property than American banks, with net dollar liabilities totalling $900 billion, mostly short-term loans that have to be rolled over, The BIS report cautions the European Central Bank to handle its lending data with great care. "The statistics may understate the contraction in the supply of credit," it said.
The report then points to Eastern Europe where short-term foreign debt is 120% of reserves, mostly in euros and Swiss francs, and where current account deficits are 14.6% of GDP. It also points to the vulnerability of China, given that 20% of its exports go to the U.S.
Global banks—with loans of $37 trillion in 2007, or 70% of world GDP—are still in the eye of the storm. "Inter-bank money markets have failed to recover." Of greatest concern at the moment is that still tighter credit conditions will be imposed on non-financial borrowers. "In a number of countries, commercial property prices are beginning to soften, traditionally bad news for lenders. These real-financial interactions are potentially both complex and dangerous," it said. "Explicit and implicit debts of governments are already so high as to raise doubts about whether all non-contractual commitments will be fully honored."
The report then notes that the sub-prime crisis was only the "trigger," not the cause of the disaster, the cause being loose credit of the Greenspan years and the securitization: "It cannot be denied that the originate-to-distribute model (CDOs, CLOs, etc.) has had calamitous side-effects. Loans of increasingly poor quality have been made and then sold to the gullible and the greedy," he said.
White writes that there will be more bailouts of banks but the " 'socialized risks' should be taken on by political systems, and not dumped on the books of central banks." The report concludes: "Should governments feel it necessary to take direct actions to alleviate debt burdens, it is crucial that they understand one thing beforehand. If asset prices are unrealistically high, they must fall. If savings rates are unrealistically low, they must rise. If debts cannot be serviced, they must be written off. To deny this through the use of gimmicks and palliatives will only make things worse in the end." |
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Anonymous Coward
User ID: 5174
7/1/2008 10:16 AM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
SAME SITUATION EXISTED IN THE EARLY EIGHTIES .GOLD TANKED FROM OVER 800 HIGH TO LESS THAN 400 OIL TANKED TO 18 BARREL MID 80 S AND STAYED DOWN FOR A DECADE ..SEARCH STATS ... IRAN HELPED RATCHET UP TENSIONS IN 1970S 1980S ..JUST LIKE NOW FOR OPEC CARTELS PROFITS. Quoting: ANONOMOUS COWARD 459857
IMMIGRANTS, P/E RATIOS, DEBASEMENT OF THE DOLLAR, NON BORROWED RESERVES, PEAK OIL, ENDLESS WARS, NEED I GO ON?
HUGE FUCKING DIFFERENCES BETWEEN 1980 AND TODAY, TOO MANY TO EVEN LIST. |
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Anonymous Coward
User ID: 100864
7/2/2008 6:38 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
bump |
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Anonymous Coward
User ID: 84477
7/11/2008 3:39 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
b |
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Anonymous Coward
User ID: 84477
7/11/2008 3:40 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
b |
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acd
User ID: 401905
7/11/2008 4:07 PM | | Re: Swiss Franc approaching parity with US DOLLAR - gold moving $785 | Quote |
b Quoting: Anonymous Coward 84477
A LITTLE LATE MY FRIEND, GOLDS A KNOCKIN' AT 1000.00 AGAIN. |
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