US Fed focuses on printing more money

The US Federal Reserve continues to consider printing more US money.  Despite "spinning" the announcement to create the perception that it would not contribute to inflation, the fact remains that money printing is inflation.

European Central Bank facing "sizeable" possible losses

Should Greece default, the European Central Bank (ECB) would face "sizeable" losses of 177 billion euros, which would amount to over 200% of the ECB's capital base, according to the International Institute of Finance (IIF) in a Financial Times report.  And on top of that, the ECB's need to buy more risky European sovereign debt would increase.

Gold mining stocks will be utility stocks

Jim Sinclair argues that gold mining companies will become high yielding utility stocks in the future.

Icelanders consider replacing krona with Canadian dollar

Some Icelandic business leaders have proposed that Iceland adopt the Canadian dollar as their national currency, to improve stability and ease capital flows.  It is significant that the proposal was not to adopt the US dollar, which has traditionally been the global reserve currency, but whose status is now diminished.

Commodities price inflation likely

"It remains uncertain how the banks will use the cheap money" provided by the European Central Bank (ECB), which has lent 530 billion euros to European banks, according to Der Spiegel.

ISDA conflict of interest

The International Swaps and Derivatives Association (ISDA) is responsible for determining whether or not losses from failed bonds are covered by insurance.  It is surprising to note that some voting ISDA members appear to be the sellers of that insurance, and therefore would have a conflict of interest.

Greece fails to implement required reforms for second bail-out

Negative market sentiment towards the euro currency is likely to be amplified by polarising European disunity.  Some European finance ministers are not satisfied that all Greece's political party leaders are fully behind the reforms, according to Reuters.

Greek bondholder losses uninsurable

The ISDA (International Swaps and Derivatives Association) voted unanimously that no "credit event" has occurred with respect to the Hellenic Republic.

Gold's relationship with the US dollar

I find Julian Phillips' explanation of gold's historic relationship with the US dollar most informative.

Gold price slammed down by $100

Some speculate that often a sharp fall in the gold price reflects orchestrated central bank selling to manipulate the gold price downwards, to support fiat currencies, and to foster positive global financial sentiment.  A report about central bank gold price manipulation has been deleted from the internet.