Gold and Silver Report - "Raise the Fediscope!"
21.06.11
For the second time in three years evidence is mounting that when push comes to shove, the "shove" in global funds appears to aim towards the much maligned greenback as the haven of choice. Over in Europe, the region's finance ministers did not manage to produce anything resembling a resolution on the issue of a financial life preserver to be thrown in the direction of Greece. To what degree the government will succeed in said task appears largely uncertain. In the interim, Greece has been tasked with approving spending cuts and other financial reforms. As the dollar managed to retake lost ground, commodities speculators retreated from their previously occupied territory. it was the combination of the European debt situation that is still resulting in US dollar strength, which, in turn, is pressuring the commodities that have hitherto benefited from its previous lack thereof. The country's Parliament will need to give its vote of confidence to PM Papandreou's government before there is any dole-out of monies by the EU. As things stand right now, the formerly "taboo" idea of no participation by private investors in a...
Source: International Business Times