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Sunday morning links
The Mess That Greenspan Made — TOP STORIES • Obama hopes for leaner, meaner GM and Chrysler - AP • Lawmakers Blast GM Restructuring - Washington Post • Rates likely to stay low for some time: Fed's Kohn - Reuters • Edmund Andrews Explains Decision to Omit Wife's Bankruptcies - The Atlantic • Gold demand falls in the Middle East and India as it surges elsewhere - TMCNet • State policies work against good fiscal management - LA Times • Dollar stops being Russia's basic reserve currency - Pravda • Two U.S. banks seized, making 36 ...

Resurgent Russia Discharging Dollars
GoldSeek.com — ... said, “The central bank should review its gold and forex reserves policy in favor of increasing the weighting of gold.” Putin is learning where and how to buy gold bars in his hot little hand. [image] On 19 May 2009 the FRN$ stopped being Russia’s reserve currency with 47.5% of currency assets in the Euro, 41.5% in the FRN$ and about 500 tons of officially reported gold or about 2%. Likewise Russia has begun asserting economic and military ambitions in its region. There has been the Georgia skirmish with the US in August 2008. On 26 May 2009 the ...

The Summer Of Discontent
GoldSeek.com — ... show a marked increase in small speculator (dumb money) getting bearish after the big slide over the past few months. This situation will also need to reverse. Of course before this occurs stocks will need to fall more, allowing the $ to rally. Once this occurs, and sentiment shifts accordingly, then, and only then, would I be open to actually betting on a more bearish outcome for the $ moving forward, allowing ‘ fundamental considerations ’ to take hold. So why would the $ fall against other ...