The dollar remains well bid…G-7 to hand currencies off to G-20? Car Sales collapse…Auditing the Lehman cash movements…And Now… Today’s Pfennig!

Investment banks have gotten fat off the land since 1982, when the great U.S. bull market got its start. Their business has multiplied many-fold, and their earnings have soared into the stratosphere, to a level far higher than any other sector.

The longer the rally persists, the more dangerous it becomes.

Stocks moved lower for the third consecutive day on Friday, something that hasn’t happened in more than three weeks, as the bulls just couldn’t capitalize on a short-term overbought condition. Measures of selling pressure eased as the bears rested their knuckles after a two-day pummeling.

In their official statement Wednesday, U.S. Federal Reserve policymakers said they “continue to anticipate that economic conditions are likely to warrant exceptionally low levels of the Federal Funds Rate for an extended period.”

Dollar’s rally is cut short…Major problems for loans still exist…Yen rallies on exporter repatriation…Kiwi gets whacked! And Now… Today’s Pfennig!

The inflation/deflation debate is hot… It crackles and pops like a pine fire. But it gives off little helpful light. Abe Lincoln may have read by the light of an open fire. But when we tried it, we singed our eyebrows. It made us suspicious of Old Abe; maybe he wasn’t quite as truthful as he pretended to be. Later, we realized he was a mountebank. But that’s another story…

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

With prices testing their record high of $1,033 an ounce set last year gold has again become the hot topic of conversation.

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