Friday, Sep 28, 2007
Goldman Sachs warns of spreading economic turmoil
telegraph.co.uk: the US investment bank said it was no longer sure that Asia and Europe would be able to pick up the growth baton as America stumbled. It fears that turmoil is spreading beyond the debt markets to the factory floor
“We have good reasons to ask these funds to declare what kind of assets they want to invest in, what criteria they apply to decide their investments, and what the distribution of their investments is,” Joaquín Almunia, the EU’s commissioner for economic and monetary affairs, said in an interview. “If they don’t agree to these criteria, we can find good reasons to react in some cases, where these funds try to invest in some strategic sector or try to move towards some specific industries,” Mr Almunia said.
Posted by chris @ 04:49 AM (210 views) Add Comment
1 Comment
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1. sold 2 rent 1 said...
"The bank said Europe is now so weak after a clutch of dire confidence surveys in Germany, Italy, France, and The Netherlands that any further rate rises by the European Central Bank are "off the table"."
Looks like the race to the bottom (regarding IRs in USD, GBP and EUR) has started.
The GBP is disconnecting from the EUR having hit 1.42 earlier this week.
The EUR will be the last domino to fall in this pack of three currencies.
I have opened up 2 trading accounts with interactivebrokers.com (USD and CAN currencies - one for me and one for my limited company)
I have and will be using these accounts to purchase junior/expoloration gold mining stocks.
Gold should correct to $700 an ounce over the next week or 2.
After that gold should surge as the USD, GBP and EUR all fall together.
Don't be put of witht the volatility of junior/exploration gold stocks. I am in for the long haul, at a guess 2011-12