Tuesday, October 20, 2009

We want a strong Dollar; we need a strong Dollar

European finance officials are concerned the euro’s climb to a 14-month high against the dollar is eroding exports as an aide to French President Nicolas Sarkozy called the move a “disaster” for the economy.

“Excessive volatility” in currency rates is “bad for economic development,” European Central Bank President Jean- Claude Trichet said in an unscheduled appearance at a press conference late yesterday after a meeting of euro-area finance ministers in Luxembourg. “It’s a problem which worries us,” said Luxembourg’s Jean-Claude Juncker, who led the talks.

The euro has gained almost 20 percent against the dollar since February, making the region’s exports more expensive to overseas buyers and threatening the recovery from the worst recession since World War II. U.S. Treasury Secretary Timothy Geithner said on Oct. 3 that it is “very important” for the U.S. to have a strong dollar.

Sunday, October 18, 2009

the three little pigs

by Robert Kiyosaki

As you know, one pig built his house out of straw, the other of sticks. Once the first two pigs finished their houses they began to party, taunting and laughing at the third pig who was taking longer, building his house of bricks. After the house of bricks was finished, a big bad wolf appeared and blew down the houses of straw and sticks. If not for the shelter of the house of bricks, the first two pigs would have been pork dinner.

In 2007 a big bad wolf known as the ‘subprime crisis' blew down financial houses made of straw and sticks, houses known as Lehman Brothers, Bear Stearns, AIG, Merrill Lynch, Washington Mutual, Fannie Mae, and Countrywide -- as well as the homes and businesses of people who built their lives on straw and sticks.

Wednesday, October 14, 2009

Delta Petroleum Corporation - Nasdaq

Delta Petroleum Corporation engages in the exploration, acquisition, development, production, and sale of natural gas and crude oil in the United States. It owns producing and non-producing oil and natural gas interests, undeveloped leasehold interests, and related assets in 17 states, as well as interests in a producing Federal unit offshore California and undeveloped offshore Federal leases near Santa Barbara, California. The company also engages in contract drilling operations, as well as marketing trucking services in the Casper, Wyoming area. As of December 31, 2008, it had approximately 827.7 billion cubic feet of natural gas and 9.5 Mmbbls of crude oil. The company was founded in 1984 and is based in Denver, Colorado. ($1.70)

E*TRADE Financial Corporation - Nasdaq

E*TRADE Financial Corporation, through its subsidiaries, provides online brokerage and related products and services primarily to individual retail investors, under the brand name of E*TRADE Financial worldwide. It offers various brokerage products and services, including automated order placement and execution of the U.S. and international equities, currencies, futures, options, exchange-traded funds, mutual funds, and bonds. The company also provides quick transfer, wireless account access, extended hours trading, quotes, research, and advanced planning tools. Its banking products and services include checking, savings, sweep, money market, and certificates of deposit products. E*TRADE Financial primarily provides its services through its Web site at etrade.com, as well as through its network of customer service representatives, relationship managers, and investment advisors. The company was founded in 1982 and is based in New York, New York. ($1.68)

Riverstone Holdings Limited - SGX

Riverstone Resources was established in year 1989. We specialize in the production of Cleanroom gloves, fingercots and packing bags. Over the years, with the full support of our valued customers and the commitment of our staff, we have grown to become the leading global supplier of Cleanroom gloves. (S$0.44)

Tuesday, October 6, 2009

Gold Jumps to Record as Inflation Outlook Fuels Investor Demand

Oct. 6 (Bloomberg) -- Gold rose to a record on speculation that inflation will accelerate and erode the value of the dollar, boosting the appeal of the precious metal for investors seeking to preserve their wealth. Gold futures climbed as high as $1,038 an ounce in New York, topping the previous record of $1,033.90 in March 2008. The spot price headed for a ninth straight annual gain, the longest rally since at least 1948. The dollar dropped as much as 0.6 percent against a basket of six currencies. Copper, zinc and sugar have led a 2009 surge in commodity prices. “Gold is acting like the ultimate currency,” said Chip Hanlon, president of Delta Global Advisors Inc. in Huntington Beach, California. “Central banks are following the same monetary course and trying to stimulate and inflate their way back to growth. Everyone’s concerned about the dollar but it’s not like you can hate the dollar and fall in love with the euro or the yen.” Gold futures for December delivery traded $18.30, or 1.8 percent, higher at $1,036.10 an ounce at 9:08 a.m. on the Comex division of the New York Mercantile Exchange. Bullion for immediate delivery in London gained as much as 1.9 percent to a record $1,036.30 an ounce.