Daily Markets - Financial News And Opinions

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Is China Really Giving Up Its Quest To Increase Its Gold Holdings? Posted: 13 Mar 2010 07:45 AM PST When politicians talk it is always a good idea to try and read between the lines. This Tuesday China’s chief foreign exchange regulator, Yi Gang, told reporters that China is not interested in increasing its gold reserves. Really? Mr. Yi’s speech was accompanied by a downswing in the gold price - they moved lower by mere $3 within an hour of his speech but since then the market seems to have absorbed the news and moved on. On Wednesday speculation grew that accelerating inflation will … [visit site to read more]

Municipal Deflation: Consequences Of The Greatest Speculation Posted: 12 Mar 2010 03:05 PM PST "The financial difficulties of local governments in consequence both of the inflation and deflation of real estate values demonstrates strikingly the unwisdom of a revenue s ystem concentrated so heavily upon real estate…." – Herbert D. Simpson, Meeting of the American Economic Association, 1933 On March 10, 2010, the Kansas City Missouri School Board voted to close nearly half its schools (28 of 58). On the same day, Illinois Governor Pat Quinn warned that if the state income tax is … [visit site to read more]

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