As I stretched out on a pile of rotting cabbage in preparation for this exciting bit of news, I was actually all tingly at the thought of seeing how the inequality between the rich and the poor can be shown to be offset by sheer variety of goods in the marketplace!

Central Bank intervention is the reason… Busy data week… Australia’s central bank to mirror the BOE?… China to slow appreciation … And Now… Today’s Pfennig!

Gold declined throughout the Far East and Europe in early Thursday morning trading. The decline rate accelerated about two hours before the Comex open in New York. Once the NY boys showed up, the price dropped another $8 to a low of $856.50 in just a few minutes.

The trouble with getting older…Big Ben expresses himself…Globalization is no longer a force for good – but a force for evil…the Bear Stearns domino effect…End of the road for Hilary…a new hotline service – made just for central bankers…and more!

So far, the Fed’s magic is working: Sub-prime is leaving primetime.

As I said last Thursday, the majority of foreign central banks continue to hike lending rates this year amid surging inflation.

In the current monetary system, the supply of money is not constant and the central banks of this world are free to create as much inflation (money-supply growth) as they want. There is a catch – the central banks can only do so as long as they can keep inflationary fears in check by constantly reminding the public of the threat of deflation.

Inflation is usually followed by deflation – but not for the United States. What inflation means to central bankers, investors and the consumer. Dubya presents Middle Easterners with a lengthy ‘to-do list’…the downside of Hollywood…and more!

There is no problem created by the Federal Reserve that the Fed can’t make worse. As evidenced by the news today…

With the oil price at near-record highs and Shell and BP declaring record profits last week, there are various truckloads of drivel about the oil majors being ruthless profiteers doing the rounds at the moment. But who’s really raking in the money?