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Gold and The Dollar

April 24, 2009
In recent days the Canadian and Swedish central banks have joined the majority of other G10 central banks by indicating that they too may engage in quantitative easing now that the interest rates have been reduced to 25 and 50 basis points respectively. The ECB is wrestling with ways to extend its own form of quantitative easing and an announcemen…
Gold and The Dollar Gold and The Dollar Reviewed by magonomics on April 24, 2009 Rating: 5
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Unlucky Number Sleven: G7 and Beyond

April 20, 2009
I was walking through Central Park the other day. I came across some old guys playing chess. There was also this young kid trying to kibbitz—offering unsolicited advice to the players. It made me think about the G7. Those that will be doing the talking won’t be taking action and several key actors in the important geo-political and economic dramas…
Unlucky Number Sleven: G7 and Beyond Unlucky Number Sleven: G7 and Beyond Reviewed by magonomics on April 20, 2009 Rating: 5
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The QE Paradox

April 17, 2009
It was supposed to be straightforward. In mid-March the Federal Reserve announced it would begin buying US Treasury bonds. This is quantitative easing (QE), no? The Fed is printing money. Other things being equal, as the supply increases, the price will fall.
It may be QE but is not QED, an acronym, which traditionally ends mathematical and philoso…
The QE Paradox The QE Paradox Reviewed by magonomics on April 17, 2009 Rating: 5
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G7: Old Whine, New Skins

April 14, 2009
For the first time in four years, the G7 changed their statement about the foreign exchange market. Rather than simply note that the foreign exchange market should reflect fundamentals and that excessive volatility was not desirable, the G7 raised their level of concern.
“Since our last meeting”, the G7 said, “there have been at times sharp fluctua…
G7: Old Whine, New Skins G7: Old Whine, New Skins Reviewed by magonomics on April 14, 2009 Rating: 5
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A Reasonable Case for Guarded Optimism

April 10, 2009
Toward the end of the month we will learn that US economy continued to contract sharply in the first quarter. The economy is also likely contracting in the current quarter. Unemployment is still rising and house prices are continuing to fall. But to conclude, as many of the cynics do, that all the government spending has proven for naught, is prem…
A Reasonable Case for Guarded Optimism A Reasonable Case for Guarded Optimism Reviewed by magonomics on April 10, 2009 Rating: 5
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Bloomberg: Euro Up Ahead of BOE Bloomberg: Euro Up Ahead of BOE Reviewed by magonomics on April 09, 2009 Rating: 5
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An Open Letter to John Galt

April 03, 2009
John Galt is the fictional protagonist in Ayn Rand’s 1957 classic Atlas Shrugged. Rand, who escaped with her family from the Soviet Union as a young adolescent, sketches out libertarian views through her work. In her novels strong, creative, and heroic individuals resist statist and collectivist forces. Galt organizes a strike by these people in r…
An Open Letter to John Galt An Open Letter to John Galt Reviewed by magonomics on April 03, 2009 Rating: 5
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