Jack Crooks
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Steal the Hong Kong Monetary Authority’s Best Plays!
In the world of exotic currencies, each one has its own unique facets and personalities. However, one currency that has a particularly unique situation is the Hong Kong dollar.
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“Drink This Medicine or Die!”
By Chuck Butler
Well, the President sure painted a rosy picture for the U.S. economy last night didn't he?
Yikes! Using words like "collapse" and "danger" and "panic," President Bush basically told the country we're in deep doo-doo! As he was explaining why the government must spend US$700 billion worth of taxpayer's money to bail out the financial system, he said,
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Crisis or No Crisis, the Dollar Cuts Its Well Worn Path
By Sean Hyman
If history is our teacher, it tells us that the dollar does respond to any crisis for a few months or so typically after the economy hits another rough patch. However, afterwards, it reverts back to the trend at hand.
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All Hail King Henry (Paulson)!
By Chuck Butler
Yesterday, I talked about how Goldman and Morgan Stanley were now bank holding companies.
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The Bank of Goldman and Morgan Stanley
By Chuck Butler
So, Goldman Sachs and Morgan Stanley are now bank holding companies. They will both report to the Fed so the Fed will make loans to them more easily. Add Merrill Lynch to that list of brokers that now have a bank as a holding company, and they can get loans from the Fed too.
Money, money, and more money... Dollars, dollars, and more dollars... We're printing them like there's no tomorrow... And that's because we only "live for today, and don't worry about tomorrow."
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The Safe Haven Currency Returns with a Bang!
By Jack Crooks
In the last few months, the price of gold had been moving lower in a hurry…that is until earlier this week.
It seems gold’s traditional safe-haven quality came soaring in and swooped up the yellow metal. Prices went flying. On Wednesday, gold shot up US$92 overnight.
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Who Will Ask for a Handout Next – Disneyland?
By Chuck Butler
So now the U.S. Treasury is bailing out AIG with conservatorship and a US$80 billion allowance for their newest member of the dysfunctional family.
What's next? Oh, I already know, the Big Three have asked for a government check, and before you know it, Disneyland will be asking for an allowance from the government! (Okay, I used Disneyland to show how ridiculous this has become.)
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The Bi-Polar Currency
By Sean Hyman
The USD/CAD (U.S. dollar vs. the Canadian dollar) pair is sometimes called the “bi-polar” currency because it’s driven by Canada’s largest and most influential export – oil. And at other times, it takes its lead from its biggest trading partner, the United States.
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Guess Which Currencies Jumped Over the Weekend?
By Chris Gaffney, CFA
As you can imagine, traders are once again shying away from the risky assets (i.e. high-yielding currencies, emerging markets, etc), now that Lehman is filing Chapter 11. And because risk aversion is a popular theme again, traders are buying low-risk U.S. treasuries. This wholesale U.S. treasury buying is actually stopping the U.S. dollar from falling further.
The best performers over the weekend were the Japanese yen and Swiss franc – both traditional funding currencies for the carry trade.
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The Foreigners Want Our Stocks Again... But How Long Will That Last?
From Chuck Butler, President of WorldMarkets at EverBank:
What Happened:
For a long time (before August 2007), the U.S. didn't have any problems attracting enough foreign investment.
What I Say:
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