Econ Comments
Bloomberg | Euro Weakens Versus Most Major Counterparts on Greece Debt-Crisis Concern
The euro fell versus a majority of its 16 most-traded counterparts amid speculation a Greek austerity plan and a European Union pledge to stabilize the region’s economy won’t resolve its sovereign-debt crisis.
Minyanville | Deflation in America's Future
Once the countertrend rally runs its course the market should have another leg down. Expect Bernanke to freak out and initiate a third round of quantitative easing.
RCM | Bernanke Admits He Just Does Not Know
Early on in his June 22, 2011, press conference, Federal Reserve Chairman Ben Bernanke was asked about why the Fed had just lowered its growth outlook for 2011 and 2012. After attributing some of the reduction in expected economic growth to temporary factors that he feels should be self-clearing, he finally admitted that:
Reports
CRS | Brief History of the Gold Standard in the United States
The U.S. monetary system is based on paper money backed by the full faith and credit of the federal government. The currency is neither valued in, backed by, nor officially convertible into gold or silver. Through much of its history, however, the United States was on a metallic standard of one sort or another
