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Alan Blinder vs. Peter Schiff: When Will the Dollar Lose Its Reserve Status?
The almighty dollar ain't what it used to be.The decline of the dollar was one of the topics of debate Sunday night when St. Louis Fed President Jim Bullard and former Federal Reserve Vice Chairman Alan Blinder faced off against longtime gold bug and doll
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"Ben Bernanke Has Never Gotten Anything Right," Peter Schiff Says: Fed Officials Respond
Putting Peter Schiff on a panel with St. Louis Fed President James Bullard and former Fed Vice Chair Alan Blinder is asking for trouble or, at the very least, a heated debate.That's just what occurred last Sunday night in New York at an event sponsored by
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Are We Really Better Off Than We Were a Year Ago?
There IS plenty to be thankful for this Thanksgiving. We've certainly come a long way (baby) from a year ago. Let's not forget, avoiding a second Great Depression was no foregone conclusion in the immediate wake of Lehman's collapse. Then there's o
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Dollar Slumps After Fed Talks Turkey: Can Stocks Keep Up with Gold?
Gold soared to yet another new record overnight as the dollar slumped again after Tuesday's release of the minutes of the Fed's Nov. 3-4 meeting.While FOMC members raised concerns about "negative side effects" from a zero rate policy -- includin
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Don't Blame the Shorts: A History of Misplaced Aggression
As the stock market continues its winning streak from March levels, cries against the evil speculators and short sellers have subsided -- for now. If any cracks in the recovery story emerge, beware of attacks against short sellers, says Robert Sloan, mana
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A Bad Economy Could Spell Good News on Wall Street for Years to Come
The economic recovery isn't as strong as first thought. Revised GDP figures released this morning show the economy grew at a 2.8% annualized pace in the third quarter, less than the 3.5% initially reported. The revision was in-line with expect
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Housing Bottom? "Not Even Close," Barry Ritholtz Says
A fifth-straight monthly gain for the Case-Shiller Index Tuesday and Monday's stronger-than-expected existing home sales report is giving renewed hope to the housing bulls."Disregard them," says Barry Ritholtz, CEO of Fusion IQ, who notes the ex
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Banks to Give Customers the Boot, Analyst Dick Bove Says
Not happy with your bank? The feeling is likely mutual.Don't be surprised if your bank soon decides they don't want your business anymore, says Rochdale Securities bank analyst Dick Bove.Why?Bank regulators and Congress are looking at ways at making
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The FDIC Is $8.2 Billion in the Hole
From The Business Insider, Nov. 24, 2009: The FDIC fund that insures bank deposits is $8.2 billion in the hole. The Federal Deposit Insurance Corp. released its latest set of grim banking data moments ago. The FDIC had to set aside $21.7 billion for ex
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Banks to Give Customers The Boot, Analsyst Dick Bove Says
Not happy with your bank? The feeling is likely mutual.Don't be surprised if your bank soon decides they don't want your business anymore, says Rochdale Securities bank analyst Dick Bove.Why?Bank regulators and Congress are looking at ways at making
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The Bull Case for BoA, Citigroup: Dick Bove Loves the Big Banks
With the financial sector ETF up about 135% from its March lows, some of the banking sector's most notable bears are on the prowl again:Last week, Meredith Whitney told CNBC "I haven't been this bearish in a year" and was even more downbeat in a
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Bank of America Can't Find Anyone Willing to Take CEO Job
Suddenly, it's the least attractive job in the country. Bank of America has been searching for a new CEO for months, ever since battered Ken Lewis announced that he was stepping down. But no one wants the job. Why not?Because they'll have to l
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Fed Face-Off: Peter Schiff Goes Toe-to-Toe With Alan Blinder, Jim Bullard
Peter Schiff's views as an author, investor and free market idealist are no secret: Abolish the Fed, buy gold and avoid the dollar. With that in mind, Sunday night was something of a dream come true for the President of Euro Pacific Capital.Thanks To Prin
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NYT: The Govt. Will Get Creamed When It Has to Refi Its Debt
From The Business Insider, Nov. 23, 2009:The New York Times -- not usually the first publication you'd think of when it comes to calling for fiscal prudence -- sounds the alarm over the government's massive debt load. ...
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Microsoft Offers to Pay News Corp to "De-List" Itself from Google
From The Business Insider, Nov. 23, 2009:Microsoft (MSFT) wants to pay News Corp (NWS) and other large publishers to de-list their Web sites from Google's (GOOG) search index, the Financial Times reports. The idea is to force Google (GOOG) to pay for c
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Jim Bullard Is Not a Dove: St. Louis Fed President Talks Bubbles, Recovery and Fed Audit
St. Louis Fed President Jim Bullard has been making headlines and moving markets lately. But as is so often the case, traders may be jumping the gun as the headlines may be misrepresenting Bullard's stance on monetary policy. The irony here is that Bullar
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Even Goldman's Largest Shareholders Are Getting Mad About Bonuses
On the heels of Goldman CEO Lloyd Blankenfein's apology for his firm's role in the financial crisis, some of Goldman's largest shareholders are unhappy more of Goldman's prosperity isn't being passed along to them, The WSJ reports. ...
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Tim Geithner Is Mad as Hell and Isn't Going to Take It Anymore
Treasury Secretary Tim Geithner took some heavy fire on Capitol Hill Thursday. Days after Oregon Democrat Peter DeFazio called for Geithner's resignation, Texas Republican told the Secretary: "The public has lost all confidence in your ability to do
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Are We On The Verge Of Total Global Economic Collapse?
Are we on the verge of total economic collapse?Don't laugh. The french firm Societe Generale thinks so.The brokerage firm has put the fear of God in clients recently by predicting that developed economies and markets are going to collapse under a mo
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"A Govt. Not Run by the Financial Sector": James Galbraith's Rx for Wall Street Reform
The post-op on the great crash of 2008 continued in Washington Thursday as the Joint Economic Committee (JEC) held a hearing on financial reform."Unfortunately, the regulatory regime that failed so terribly leading up to the financial crisis is preci
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