Wednesday, December 1, 2010

Fed Discloses Details of $3.3T in Crisis Loans

Dec. 1 2010 | The Federal Reserve on Wednesday revealed the details of some $3.3 trillion in emergency loans it made to financial institutions during the credit crisis as mandated by a revamp of US regulations. CNBC's Steve Liesman has the details.

Marc Faber December Gold outlook

Marc Faber is out with his latest report which discusses his outlook for stocks, bonds, commodities, gold, and the dollar. Regarding the Gold in particular Marc Faber says that he still likes gold and continues to accumulate more gold , but he says a correction to $1200 would not surprise him. Gold bull market remains intact as the majority of individual investors and institutions remain under invested.

Marc Faber : the Dow Jones in gold terms peaked out in 1999

Marc Faber :..."...I think that commodities have not only been strong recently, they have been strong for a long time, specifically precious metals. If you look at the Dow Jones in gold terms it peaked out in 1999, and is not down 84% in gold terms. In other words you can’t measure any thing any more in dollars because the function of money is to be among others a store of value and also unit of account, but if you print and print and print, the function of store of value expires or is non existent, and the unit of account doesn’t work anymore. So we need to take a new unit of account which is gold or silver and in those terms, the US economy has contracted massively since the year 2000 and the dollar has been very weak as well as the bond market and the stock market in gold terms...."

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