As JP Morgan was fond of saying “i never buy at lows. i never sell at the hights, i play the middle 60%” (more…)

Nouriel Roubini, the famously glum economist who predicted the financial crisis, said that while the recession in the United States may well be over at the end of the year, another dip was still possible next year. (more…)

Bill Gross, manager of the world’s biggest bond fund, warned on Thursday the United States will eventually lose its top AAA credit rating, a fear that had already spooked financial markets on Thursday and could keep the dollar, stocks and bonds under heavy selling pressure. (more…)

Folks you have been warned. Take protection in your portfolio against the dollar tanking at short notice just like the US stock market tanking. Do not say that you were not warned. Convert to your Indian Rupees as much money as possible. Also for open USD position buy take a look at Currency ETF from Powershares such as UUP, Proshares EUO.

China is assuring the US it will do nothing to weaken the position of the dollar as the main international currency. But it is also using the financial crisis to urge foreign countries to settle payments in yuan instead of the US dollar. (more…)

A reserve currency system based on an IMF unit instead of the U.S. dollar, a proposal floated by China, could be phased in within a year, Nobel Prize-winning economist Joseph Stiglitz said on Thursday. (more…)

Proposals for creating a new global reserve currency to replace the U.S. dollar are gathering momentum but need further examination, Germany’s development minister said on Friday. (more…)

The Fed chief, answering questions after a speech, prefaced his comment by saying his “forecasting record on this recession is about the same as the win-loss record of the Washington Nationals,” the worst team in U.S. Major League Baseball last year with 59 wins and 102 losses.

Ben Bernanke - Mar 11, 2009

The cost of borrowing in dollars is rising as the global recession deepens and central bank efforts to prop up the financial system fail to prevent a growing number of banks from requiring government bailouts. (more…)

I’ve started buying up junk silver on Ebay. So far, I’ve bought around $85 (face value) in junk silver, which works out to around $1020 at current silver prices. My average price is around 50 cents below spot. (more…)