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In the early 1990s there was a show on UK television called the Harry Enfield Television Programme. It was a sketch-based comedy that ran for several years. One of the characters was called Mr. You-Don’t-Wanna-Do-It-Like-That. On seeing his daughter and son-in-law doing a spot of DIY the old giffer would barge in and say, “You [...]

“We’re not printing money,” said Dr Ben Bernanke in his 60 Minutes interview last Sunday. “What we’re doing is lowering interest’s rates by buying Treasury securities. And by lowering interests, we hope to stimulate the economy to grow faster.” With statements like that, you wonder why only half of the U.S. wants the Fed ‘…curbed [...]

Poor National Australia Bank [ASX: NAB]. Or I should say poor customers of National Australia Bank. Another so-called “glitch” struck it again yesterday afternoon. Twice in the space of a couple of weeks. Dear oh dear. If you’re an NAB customer I’d suggest twice is enough. It’s time to shift your savings account somewhere else. [...]

You’ve read a lot about the banks in Money Morning during the past week. And today is no different. So strap yourself in… Yesterday we gave you the reply we’d gotten from the Reserve Bank of Australia (RBA). We’d asked them when the RBA had been told about National Australia Bank [ASX: NAB] and Westpac’s [...]

Recently, the US Federal Reserve downgraded its forecast for 2011 and 2012. Initially many – economists and other people that consider themselves ‘in the know’ – suspected growth would be anywhere between 3.5 – 4.2% for 2011. However, it turns out the Fed now believes growth will be between 3% – 3.6% for 2011. This [...]

As the Federal Reserve Bank meets this week to decide the fate of interest rates, you can’t help but wonder why they bother meeting at all.
Maybe the catering team make really good sandwiches.
Perhaps we’re being a little arrogant, but really, what are the chances the Fed are going to surprise the markets and increase rates?
I’d [...]

Squinting at the gold news from China, both official and private…
CHINA’S LATEST SLEW of positive data “raises the prospect” of Beijing tightening its easy money and fiscal policies, or so the newswires claim. Currency strategist Steven Barrow at Standard Bank adds that China could be more significant for global liquidity than the United States, too.
Because [...]

“Just how can the Fed credibly promise to be irresponsible…?”
HERE’S A THOUGHT – that tiny handful of investors and analysts warning how Fed policy risks hyper-inflation are in fact doing the central bank’s work.
The Fed wants you to believe hyperinflation is looming. Or at least, it should want that, if doubling its balance-sheet – purchasing [...]