EFSF: “A deal has been reached.”

It appears the EFSF deal has been reached. As expected, it will be 1.4 trillion, by using 400-500% leverage on cash. Write down on Greek debt will be 50% (really 29%). Italy pledges to cut debt gdp ratio to 113% by 2013. The TARP, Euro banks will be funded with 30 billion for recapitalization. DowContinue reading “EFSF: “A deal has been reached.””

Positive about Gold

“A survival of primitive barbarism, and dates from a time when the appeal of this nice bright metal to human vanity made it in universal demand for the adornment of the chief… his wife, the temples of the gods and so on” – Hartley Withers @ UK think-tank Chatham House in 1934.