Sunday, November 28, 2010

Bits of News

Korea Tensions send Gold to a 27 Year High (quoted in Yen)
and what does China say? --It warns the U.S.
China calls on the U.S. to sell its Gold Reserves (China wants all it can buy!)
Russia & China agree to using Yuan/Rubble in bilateral Trade (a step towards ending Dollar Supremacy in International trade)
Russia wants a trade Zone with Europe, even hinting they'll join the Euro, this will only happen when they can agree on the 'value' of a 'Euro' no doubt backed by a combination of Gold, and/or silver or other hard assets
China can't keep its currency pegged to the dollar without stoking inflation, as the USD depreciates in value, prices rise in China.
Japan Passes a 5.1 Trillion "Stimulus" package
The Ireland 'Bail Out' by the EU and IMF should be concluded tomorrow, and bonds are pricing in that Portugal and Spain, and Italy may follow suit. This all money printing.

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