Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« IMF reduces forecast for US, global growth Share | Main | Greek debt crisis deepens »
Friday
Jun172011

Nigel Farage: Bankers+politicians = ‘unholy alliance’ vs people

Nigel Fargae Unholy alliance 17 June 2011.JPG


Renowned Eurosceptic and British Euro MP Nigel Farage says saving the banks is why politicians are so determined to bail out Greece and keep it in the Eurozone. To listen to what he has to say please click this link: Euro.

Nigel is correct when talks about throwing good money after bad, right at the outset we were against the bailouts for the Northern Rock, Bank of Scotland and the other poor performers. Liquidity is not a cure for inepotitude or insolvency it is akin to giving a junkie another fix.


Meanwhile over at Reuters we have this snippet on the situation - Greek Prime Minister George Papandreou will name a new cabinet on Friday to muster support for painful economic reforms, despite public unrest and a split in his party that could push the country closer to debt default.

He is likely to jettison Finance Minister George Papaconstantinou, author of a belt-tightening program that has fueled public anger, national strikes and a violent demonstration this week on the steps of parliament.

Papandreou delayed announcement of the new team late on Thursday in what looked like a signal he was struggling to find a suitable person for the key financial post. The reshuffle will be announced at 9 a.m., the government said.

The political upheaval has pounded markets and drawn criticism from other European Union states, where policymakers dithered over how best to keep funding Greece and forestall a "credit event" that could cause global economic havoc.

China weighed in again on Friday, with Vice Foreign Minister Fu Ying saying it was "vitally important" Europe sorted out its debt mess. China's central 



To us this situation is now in dire straights, for the northern Europeans to have to come to the rescue again could be the straw that breaks the camels back. The next two weeks are critical for the euro and as it slides we can expect its poor performance to over shadow that of the dollar. Should the inverse relationship of the dollar and gold remain intact then we would expect the progress of gold prices to remain some what muted.

We were anticipating a lackluster summer which would give us the time to do some more research as to where the bargains might be found come the fall, however, events may rob us of such a luxury.

Keep a tight grip of your core position as 'trouble' appears to be just around the corner.




Regarding www.skoptionstrading.com. The stats and the charts have been updated and are as follows:.


Our model portfolio is up 338.11% since inception

An annualized return of 128.07%

Average return per trade of 40.41%

81 closed trades, 78 closed at a profit

Average trade open for 46.27days


sk chart 22 May 2011.JPG



The above progress chart shows our performance when profits are re-invested, however, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

SK logo 26 May 2011.JPG




PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>