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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (98218)	1/23/2013 8:08:15 PM
From: Maurice Winn	2 Recommendations Read Replies (2) \| Respond to of 217860

I have never known anything different: <competitive devaluation ... topic becoming mainstream > Since 1970, money has been competitively devalued, or harmoniously rather than competitively, because the receivers of the dilution "royalty" want to keep the game going as long as they can, so it's best to work in with the others in the currency cartel. We should expect the dilution rate to continue into the unforeseeable future. A reasonable measure of the dilution is the price of gold. In 1970 $35 an ounce, in December 2012 $1,727 per ounce [as predicted by Mq's amazing financial relativity theory analysis a couple of years ago]. That's 50 times the price. That's how much dilution there has been. They will not stop now. Houses were $10,000 back then, and now are 50 times as much, so it's not as though gold is particularly weird. Oil was $2 per barrel and is now $100, which unsurprisingly is also 50 times as much. As I have explained, gold is oil, near enough for government work, but more transportable in small vehicles. 15 barrels of oil are quite heavy and large. An ounce of gold is not. Plus ca change. Mqurice

To: Cogito Ergo Sum who wrote (98218)	1/23/2013 10:53:59 PM
From: elmatador	Read Replies (1) \| Respond to of 217860

Markets were mixed, but many major equity barometers tacked near-fresh cyclical highs as investors absorbed the latest burst of corporate earnings reports. It was busy day for corporate results, with McDonald’s, General Dynamics, Unilever, Siemens and SAP all presented their wares on Wednesday But the focus was on Apple. The technology company reported quarterly results that missed analysts’ expectations after the close on Wall Street, sending one of the world’s most actively traded stocks down almost 10 per cent in extended trading hours. Apple’s earnings miss may weigh on tech stocks at the start of the global session on Thursday, but earlier on Wednesday, the FTSE All-World closed nearly flat, held back by a soft showing out of Asia. Stocks in Tokyo slid for another day in disappointment at the latest measures to boost the Japanese economy. In Europe, the FTSE Eurofirst 300 closed 0.2 per cent higher as the S&P 500 traded 0.1 per cent higher at fresh five-year high at 1,495. Support came from the technology sector after Google and IBM “beat the Street” with their earnings. Bulls of growth-focused assets are hoping that the fourth-quarter earnings season can help underpin support for the market after its strong run over recent months. The S&P 500, for example, by Tuesday’s close had risen 10.4 per cent since its mid-November trough, lifted by improving economic data in China, the US and more recently Germany; waning eurozone stress; fading fears about US budget travails; and ultra-loose central bank policies. But some analysts are warning that the extent of the gains – the S&P’s momentum gauge, the 14-day relative strength index, closed at 71 and in “overbought” territory – leaves the market vulnerable. Sterling bounces The pound is rallying as investors parse some contrasting news on the currency. Cable – the sterling/dollar cross – started the day by falling to $1.58 for the first time since August, but is now up 0.1 per cent for the session to $1.5849. Support for the pound is coming from better than expected UK jobs data. Meanwhile, the British unit is shrugging off comments from the Bank of England’s recent monetary policy meetingin which it was stated that sterling’s real exchange rate may be above the level needed to rebalance the UK economy. Analysts at Barclays wrote in a note to clients: “Given equity market earnings forecasts and valuations, we think investors are considerably more optimistic than economists and may be positioned for disappointment as the economic outlook slips back towards trend, despite a world awash in central bank liquidity.” Indeed, investors have been reminded that the boost provided by hopes of central bank largesse has its limitations. The Nikkei 225 in Tokyo lost 2.1 per cent on Wednesday, its third consecutive day of declines, after the Bank of Japan’s latest monetary easing proposals came in shy of investor expectations. This cast a pall over the region, leaving the FTSE Asia Pacific index off 0.5 per cent, though Shanghai managed a gain of 0.3 per cent. The BoJ news also halted the recent plunge in the yen. The Japanese unit, which on Monday had weakened to Y90 versus the dollar, ended the session little changed at Y88.68. Action elsewhere in currencies was fairly muted for much of the global session – though as the European trading day drew to a close there was a sense of heightened risk aversion among investors. The dollar index, which tends to perk up when the market becomes generally more wary, advanced 0.1 per cent as the euro fell slightly to trade at $1.3319. Such caution was also seen in the performance of highly rated sovereign bonds and industrial commodities. Copper was down 0.2 per cent to $3.69 a pound, while money moved into Treasuries and Bunds, pushing 10-year borrowing costs down 1 basis point to 1.81 per cent and 3bp to 1.54 per cent respectively. Gold fell $6 to $1,686 an ounce. Additional reporting by Jamie Chisholm in London