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| Apr 16, 2007 7:05 pm |
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QUOTE OF THE WEEK: |
| me4you
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QUOTE OF THE WEEK:
From Ron Pauls? ?Texas Straight Talk?:
?The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch--Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference--that threatens to impoverish us by further destroying the value of our dollars.?
From James Steel of HSBC:
?Gold tends to appreciate in times of financial or economic stress or uncertainty. Rising trade tensions are an example of just such an issue that may support gold prices. Historically, gold prices have usually declined during periods of expanding world trade and generally harmonious trade relations, such as during the sweep of globalization in the 1990?s. Since the collapse of the Doha trade negotiations last year, gold prices have generally risen. Renewed trade tensions between China and the US are having just such an impact on gold now, in our view. The USD weakened after the US government moved to file a complaint against China and the World Trade Organization over copyright piracy. China reacted harshly to the US complaints, with a Commerce Ministry spokesman claiming the action would ?seriously damage? trade between two nations. If trade disputes between the two largest trading nations and economies in the world escalate, then the prospect of uneasy relations could generate sufficient financial market anxiety to strengthen gold prices, in our opinion.?
Monex Deposit Company
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