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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (60277)	5/4/2006 2:23:33 PM
From: ild	Read Replies (2) \| Respond to of 110194

Date: Thu May 04 2006 14:07 trotsky (@Iran's oil bourse) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved there's been a lot of ink spilled over Iran's planned ( but somehow never getting to the operational stage ) oil bourse, and its alleged effect on the dollar. i wouldn't waste much time worrying over that. one must ask, who is actually going to trade on that bourse? nobody i know, that's for sure. think the hedge funds will abandon the Nymex and the IPE for an unknown, illiquid market in Teheran of all places? the very idea is laughable. in short, Iran's oil exchange will be a threat to exactly no-one and nothing ( if they ever get it up and running that is...so far it's been stuck in the announcement stage seemingly forever ) . Date: Thu May 04 2006 13:42 trotsky (a brief comment ) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved on yesterday's debate about 'intrinsic value' - there is no such thing. ALL value judgments are subjective. this applies to gold just as it applies to other goods. the only instance in which a term like 'intrinsic value' makes sense is when describing something that stands as the representative of some other underlying thing, the value of which is known. so for instance, an in-the-money option can be described by various parts that make up its price - the 'instrinsic value', which is the amount by which the option is in the money ( e.g. a $50 call on a stock trading at $52, has an instrinsic value of $2 ) , the 'time value' and 'volatility premium'. however, as a general term, in the sense that a good has a value that somehow lies outside human perception and judgment, it simply doesn't exist. the value of gold as expressed in other goods, depends on how large the preference of market participants is for gold as compared to these other goods. there is nothing 'intrinsic' about that, it is the sum of countless individual, subjective value judgments. moreover, recognition of this fact does NOT automatically make one a supporter of fiat money - so don't even try claiming that. Date: Thu May 04 2006 13:21 trotsky (the Euro) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved suddenly looks quite bullish again: dailyfx.com

To: ild who wrote (60277)	5/4/2006 5:17:28 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

Everybody please keep an eye out for background and stories related to changing lending standards and less competitive rates as a result of Ameriquest's Bloody Tuesday. FCBs purchased $4.4 billion this week (an average week), all agencies. The Fed has conducted only one coupon pass since mid-March; ny.frb.org Stop out rate on today's 14 day repo was 4.94% suggesting the move to 5.0% next Wednesday is a far gone conclusion. ny.frb.org ECB failed to surprise the market, merely talking about next time. USD smacked down anyway. futuresource.com