The dollar fights back! …  Soros sinks the euro…  Bad data yesterday…  And Now… Today’s Pfennig!

How bad is it going to get? Our reference point is the 1930’s and the Great Depression. But people in Russia and Asia only have to recall events of a little more than a decade ago. The “Asian Contagion” actually began in Russia in 1998 when the country defaulted on its national debt. The crisis then hit Thailand and within a year had spread to all of Asia with a few exceptions (Malaysia and China being the main ones).

Japan dominates news wires…  US retail sales to drop… Russia devalues the ruble again…  And Now… Today’s Pfennig!

Gold eases in quiet trade, traders eye next week’s data… Gold set for biggest gain since 1999 on safe haven buying

Buy gold, silver and oil as fast as you can, you morons, or die a horrible death by inflation like the people of Zimbabwe!

The masks are coming off. It’s the end of the party, now we get to see what people really look like. And it’s not a pretty sight.

With its central bank’s surprise interest-rate cut on Monday, India may actually be ahead of the monetary-policy curve for the first time ever as it moves to avert a recession that Asia’s third-largest economy needs to avoid, India investing expert Karim Rahemtulla said yesterday (Tuesday).

It was a quiet news day during Friday trading on the Canadian markets as investors bailed out of the gold stocks and went bargain hunting for undervalued base metal plays. For the tale of the tape, the TSX exchange rallied 3.16%, while the TSX Gold Index fell 2.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.89% with the declining issuers inching past the advancers by a 444 to 419 margin on good volume of 169 million shares traded.

In the currency market, the dollar moved higher against the euro. Late Thursday, the euro was trading at $1.3463 vs. $1.349 on Wednesday. “We expect euro/dollar to test a fresh one and a half-year low under $1.3200 and onto $1.3170 before month end,” predicted Ashraf Laidi, of CMC Markets US.

Gold was strong in the overseas markets, but it started down with the New York open, declined sharply in the half-hour to the mid-morning point, rallied back to the close of the COMEX and eased slightly in the Globex to finish at $832.20, down $17.70 from Friday. Overnight, gold is trending higher.