Daily Archives: 30/08/2011

Africa might ditch the Dollar for the Yuan in Trade with China

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By John Galt August 30, 2011 – 18:05 ET This little gem of a story from Business Day, a South African financial news publication should be another warning to the sleeping morons in D.C. and Wall Street: Renminbi may replace dollar in Sino-African trade While the Bernank and the Bammer have been out beating their chests about the “world’s reserve currency” the nation of Communist China has been quietly setting up international trade agreements with nations who have crucial supplies of raw materials and strategic…

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8/30 V of Galt: Did I mention today is DOOMER TUESDAY?

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By John Galt August 30, 2011 – 17:30 ET It would appear there is a lot to talk about once again as our world teeters between stories of precious metals confiscation to massive natural disasters. Oh, and did I mention that our financial markets are in the midst of even more turmoil as Europe appears ready to commit Lehmancide? Tune into DOOMER TUESDAY to find out more… To call into the program dial: (877)213-6404 or (812)307-4363. Just click on the banner below to find the…

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So much for the “relief” after the Italian Bond Auction Today

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By John Galt August 30, 2011 – 05:25 ET Analysts had projected some relief in the European financial system and the Italian markets after today’s bond auctions in Rome, but so much for that: As soon as the results came in, with a higher yield I might add, the FTSE-MIB stock index plunged -109 points after trading modestly higher most of the morning. The snapshot above is only the latest indication that the markets are still roiled over the PIIGS problems and with what is…

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