Today’s headlines look pretty horrible. House prices have suffered their biggest annual fall since the early 1990s, says the Nationwide.

For 25 years, the Fed has kept inflation at an average of 3.2 per cent a year – that should be applauded’! Hahaha! You will go a Long, Long Time (LLT) long time before you hear something so ridiculous! Hahahaha! Applauded! Hahahaha!

Brazilian government bonds are hot right now. Latin America is the fastest growing emerging region, making Brazil’s currency, the real, perfect for multi currency diversification.

A must read for investors seeking to take advantage of the Brazil’s growth is Gary Scott’s article: Why I Like Brazilian Bonds.

This from Gary: “You can borrow US dollars to make multi currency investments from Jyske Bank at rates a bit above and below 4.5% depending on the amount borrowed.

Now the days are not only longer but finally starting to warm, what happened in the financial world this week? Well, on Monday Mervyn King stepped up to the plate and offered a deal for UK banks. They could swap assets of unknown worth mortgage-backed securities for those of known worth government bonds .

“Buy when blood is running in the streets,” goes the old adage. Many people believe that time is now…and Bill Bonner can’t help but wonder: What accident is so bloody and so menacing, that it has the world’s three most powerful central banks racing across town, scattering crowds and ignoring traffic signals?

Who’s this menacing figure storming out of 11 Downing Street? Why, if it isn’t scary Alistair Darling, who’s been up all night practicing Chinese burns in preparation for today’s Big Meeting with the Council of Mortgage Lenders.

When your whole world is falling apart, there are always government bonds. Not that the world is falling apart. But neither does it seem to be holding together very well.

Well, as I suspected, it doesn’t look like the Bank of England’s £50bn injection is going to bring down mortgage rates any time soon.

The credibility of Libor is in doubt so interbank lending rates could be higher than reported. If estate agents were woodworm, many a British high street would complain of infestation.

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