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

After piddling about for the last two days, markets might actually take a significant direction in the next 48 hours.

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!

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!

The just-concluded Group 20 (G20) meeting left us with a chorus of very “prudent” governments and central bankers singing the praises of easy monetary and fiscal conditions. So where can we take refuge when all the central banks in the world print money and governments run deficits in order to spend like drunken sailors? The answer is gold.

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

Currencies have strong rally!  Trade Deficit jumps 16.3% in July!  HR 1207 Gets a hearing!  Gold gets back to $1,000!
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!