Ross

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    • Wed Mar 26th 20:15 PM | Rating: 0 0
      Commented on:
      China Banks Now Able to Trade Gold Futures
      Here it is www.shfe.com.cn (Contract Specs, Data etc)
      The contracts are physically delivered, so it will be interesting to see what the Open Interest is at settlement.
      View article »
    • Wed Mar 26th 19:51 PM | Rating: 0 0
      Commented on:
      China Banks Now Able to Trade Gold Futures
      Hi.
      Does anyone know if the Chinese gold contract is cash or physically settled/delivered?
      Also, where can we see the data. Like, Price and Open Interest?
      Thx
      View article »
    • Sun Dec 30th 21:13 PM | Rating: 0 0
      Commented on:
      Gold Bullion: The Gift That Keeps on Giving
      The recent gold movements can be explained by the increased appreciation of the Chinese currency of late. The USD is a mere stepping stone into the really buyers. In July 2005 (date?) when the London bombings happened gold also jumped and the mainstream media quickly pointed to the terrorist act as the explanation (Pakistan this time) however that day was also the day that China changed their currency policy and started to allow their currency to appreciate. Happy New Year all,
      Ross.
      View article »
    • Wed Aug 8th 18:21 PM | Rating: 0 0
      Commented on:
      Does WSJ's Greg Ip Still Have an Inside Line to the FOMC?
      Paul McCulley of Pimco fame wrote in his Feb 2002 Fed Focus article:
      “Put more bluntly, successful capitalism in a democracy is about privatizing much of the upside of booms and socializing the downside of busts. Yes, I know that sounds terrible, and it is politically incorrect to offer such a view. But that doesn’t make it any less true: capital markets-driven capitalism in a democracy runs on moral hazard. The only issue for debate is choosing the “right” octane of moral hazard to put into the tank.”

      I recently emailed him to ask...
      ....With the US housing market unraveling leaving the “Mums and Dads” holding the bag after the Fed sucked them all into borrowing too much via “option ARMS” and the like. Do you still agree with the statement from your Fed Focus 2002? This was, if I recall correctly, about shifting corporate errors to the people via artificial low rates (printing cash).
      If you do, then would you say that the “mums and dads” were (trying to) participating in the upside and now should be bailed out as well by the broader populace via the government?.....

      I am yet to receive a reply.
      View article »
    • Wed Aug 8th 00:23 AM | Rating: 0 0
      Commented on:
      Ben Bernanke’s Initiation: Flashback to 1987
      Rather than using interest rates (either nominal or real) it might be more appropriate to look at the total interest cost (in $s) as a percentage of income. In Australia at the moment people are coming to the quick (ok, so not that quickly) realisation that although rates are about 1/3rd of what they were back in the late eighties (6% v 18%, rough numbers) their interest cost as a percentage of income is now double what it was then. Therefore people are now suffering cash-flow problems at these much lower rates. This, to me anyway, is far more meaningful than looking at the rates in isolation.
      View article »
    • Fri May 18th 03:08 AM | Rating: 0 0
      Commented on:
      Where's the Inflation? Check the Non-Core Components of the PPI and CPI
      I'm no expert but i believe the Fed can control one but not both of the variables that you are discussing. So if they choose to control money supply then they would have to let overnight interest rates "float" freely.
      View article »
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