[Ed Note: Satyajit Das is a keynote speaker at After America. You can read Part I of his essay here] The proposed [European] plan is fundamentally flawed. It made no attempt to tackle the real issues – the level of debt, how to reduce it, how to meet funding requirements or how to restore growth. [...]
On 21 February, the European Union announced a phased-in embargo on Iranian oil. It will be in effect from 1 July this year. How did Iran respond? Well it stopped oil exports to Britain and France. But this was no more than a symbolic two-finger salute. Because neither country has bought Iranian oil since last [...]
Is it just me or has everyone forgotten the whole scandal emanating from MF Global about hypothecation and rehypothecation? A new financial term seems to enter into common use every few months or so. This is probably the nature of a financial crisis that originated in a credit crisis with lots of exotic financial instruments. [...]
The US Federal Reserve has given you another two big reasons to hold gold. First the Fed announced it would keep US interest rates close to zero for at least the next three years. Anything can change, but it looks like the Fed, and other major central banks, are committed to keeping interest rates low [...]
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