A Wild and Wacky Wednesday…FOMC leave stimulus and QE in place…Will G-20 try to throw cold water on commodities? GATA receives a letter from the Fed…And Now… Today’s Pfennig

The trouble with being a contrarian is that you can never be quite contrarian enough.

Non-dollar currencies give back very little…The Unemployed are remaining unemployed… FOMC puts away the board games today… China invokes a “Public Morals” defense… And Now… Today’s Pfennig!

“Gold is rising because the post-Breton Woods exchange rate system doesn’t work,” Eric Roseman, our colleague over at the Commodity Trend Alert, matter-of-factly declares. “More than ever, governments are piling up debts, as a result of bailing-out their respective banking systems. There is a price to pay for this profligate spending. And gold sniffs trouble.”

The dollar pushes back! FOMC plays battleship? Norges Bank meets this week…Precious metals give back too…And Now… Today’s Pfennig!

Let’s get this straight.

Household credit is shrinking…
Profits are shrinking…
Employment is shrinking…
Housing values are shrinking…
The wage base is shrinking…

But the recession is over!

Whoa… how is that possible?

The dollar rose broadly on Monday, hitting a near two-week high against the yen, as traders trimmed short positions in the U.S. currency following broad losses so far this month.

Currencies rally on Retail Sales! China likes investments in Canada…Big Ben the “inflation fighter”…Gold climbs to $1,018! And Now… Today’s Pfennig!

Currencies back off gains…Administration slaps tariff on China…And Yen rallies…Quotes from Davos…And Now… Today’s Pfennig!

Euro & yen add to gains…RBNZ disappoints…Foreclosures continue to stack up! BOE & BOC meet today…And Now… Today’s Pfennig!