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Draghi Announces ECB Exit From Easing Remains Far Off; Think the Fed Has an Exit Strategy?
June 26, 2013 0

Draghi Announces ECB Exit From Easing Remains Far Off; Think the Fed Has an Exit Strategy?

By News Desk

The Financial Times reports ECB exit from easing remains far off, Draghi says . Speaking to committees in the French lower house of parliament, Mr Draghi said there were still downside risks to growth in the eurozone economy and the ECB was ready to take fresh action if needed. "On our policy stance, let me say that it’s been accommodative in the past, it is accommodative in the present time and will stay accommodative for the foreseeable future," Draghi said.

Plague of Gold Bears Now Say "Gold Unsafe at Any Price"; What’s the Real Long-Term Driver for Gold?
June 26, 2013 0

Plague of Gold Bears Now Say "Gold Unsafe at Any Price"; What’s the Real Long-Term Driver for Gold?

By News Desk

"Paradigm shift" to send gold sliding to $1,200 an ounce: SocGen And last but not least, what is probably the funniest headline yet delivered by all these newly minted gold bears: “UBS Says QE’s End May Render Gold ‘Obsolete’†A major theme of these forecasts is, you guessed it, the Fed’s alleged imminent ‘QE tapering’, and/or ‘raising of real interest rates’. To the latter we would point out that real interest rates (nominal interest rates relative to inflation expectations) have indeed risen lately, but it was certainly not the Fed’s fault.