Monthly Archives: March 2009

31
Mar
2009

A Critique of the Neo-liberal Agenda

Essay by Meghan Brown

“If the story of the past quarter of a century has a one-line plot summary, it is the rediscovery of market capitalism.” – Alan Greenspan, The Age of Turbulence, p.14 For the past thirty years, neo-liberal economic thinking has been the dominant orthodoxy governing policy and shaping development. Born from Adam Smith and his ideas of the ‘invisible hand’, this theory prevails in many well-connected and highly influential institutions such as the International Monetary Fund (IMF), the World Bank (WB), and the US Treasury, together known as the ‘Washington Consensus’. This essay will explore the theories behind neo-liberalism, which contend that unfettered markets provide the best arrangement for the allocation of resources and to which prominent thinkers such as Jagdish Bhagwati, Thomas Friedman and Martin Wolf subscribe.

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31
Mar
2009

Gold Investments Market Update

Gold fell yesterday (both gold and silver were down some 1%) in volatile trade which saw some very determined selling each time gold looked set to break out above $930/oz. There appears to be support at $890/oz to $910/oz and resistance between $930/oz and $960/oz.

As usual gold’s safe haven properties were seen yesterday as most international equity indices were down some 3% to 5% while gold fell only marginally.

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30
Mar
2009

Gold Investments Market Update

Gold and silver succumbed to profit taking (gold down 3.2% and silver down 2.5%) last week as risk appetite returned to markets with the tentative recovery in equity markets continuing.

Gold’s performance was lackluster, despite increasingly bullish news with regard to growing acceptance that the international monetary system must be reformed and the strong probability that gold will again play a more significant part in the international monetary system.

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30
Mar
2009

Adrian Douglas: Why Own Physical Gold & Silver

Adrian Douglas of Market Force Analysis writes that in his experience, most ordinaly people have difficulty understanding why gold is the investment opportunity of a life time. Blaming the messenger, he explains it in simple terms, making a distinction between consumables and collectables:

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27
Mar
2009

Gold Investments Market Update

Gold and silver rose ($939.80 up $4.40 – Silver $13.65 up 18 cents) yesterday on deepening concerns about the dollar and fears that its reserve currency status is threatened.

Next week could see sharp moves in financial markets as the dollar’s dominance in the international monetary system is set to be questioned at the G20 Summit (Thursday, April 2nd). The US creditors in China and Russia are proposing creating a new supra-national reserve currency, thereby lessening dependence on the dollar.

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25
Mar
2009

Gold Investments Market Update

Gold and silver fell yesterday ($923.30 down $29.70; Silver $13.34 down 52 cents) on profit taking and renewed risk appetite which saw equities rally internationally (prior to a late sell off in the US) and the dollar rally after its recent sharp falls.

Macroeconomic, systemic and monetary risk has seen the dollar, the euro and more particularly sterling fall versus gold in recent months.

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23
Mar
2009

Gold Investments Market Update

It was a historic week, with the Federal Reserve opting for the “nuclear option” of money creation on a trillion dollar scale.

Gold and silver rose 2.7% and 4.5% respectively.

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20
Mar
2009

Gold Investments Market Update

Gold surged 8% yesterday (as is the norm, the far smaller market that is silver surged by even more and was up by 13.3%) as the shock Federal Reserve announcement led to concerns regarding the dollar and the inflationary implications of massive money printing and debasement of the currency.

The dollar has fallen sharply against all currencies and particularly against the finite commodity and currency of gold which cannot be debased.

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19
Mar
2009

Gold For Bread – Zimbabwe

MDC activist Sam Chakaipa returns to his village in rural Zimbabwe to find his friends and neighbours starving to death, reduced to panning gold powder from the rivers to exchange for food at an exorbitant rate.

The Guardian via Youtube:

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19
Mar
2009

Jim Cramer Interview on the Daily Show

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