Today’s news is that interest rates are plunging around the world, across all currencies. The “Tim Geithner is implementing sharia law which prohibits interest” theory almost seems credible.<\/p>\n
The Japanese yen is gaining strength despite the government’s effort to stop it. US stocks are partly due to the dollar going up, partly just reversing the last half hour yesterday, and someone (probably hedge funds) dumping out of stocks and into bonds. This puzzle has many pieces to it.<\/p>\n
Another notable thing today – the price for gold now exceeds platinum. That suggests to me that gold is wildly overvalued by unsophisticated investors – those two metals should move fairly close in percentage up and down.<\/p>\n","protected":false},"excerpt":{"rendered":"
Today’s news is that interest rates are plunging around the world, across all currencies. The “Tim Geithner is implementing sharia law which prohibits interest” theory almost seems credible. The Japanese yen is gaining strength despite the government’s effort to stop … Continue reading