So far the bet has gone their way. Copper has doubled. Gold is up 20%. Stocks markets all over the world are up 60%. Foreign currencies, too, have beaten the dollar.
October 27th, 2009 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "bank lending"
Lehman CDS Auction Hammers Australian Resource Stocks
Finally, Australia gets its own $700 billion plan. Kevin Rudd’s government moved yesterday to slap a Federal guarantee on all deposits with banks, credit unions, and building societies. The $700 billion guarantee includes Australian subsidiaries of foreign owned banks. The government wants people to understand their money is safe in the banks. That’s why that last bit is in there. It’s designed to keep foreign holders of Aussie dollars from engaging in a run on the dollar and bringing their money home.
October 13th, 2008 | Dan Denning | 1 comment | Continued