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I am not an investment professional. I do not engage in stock or currency trading. I am a blogger and investor who believes currency deflation has created an investment demand for gold, and that gold bullion is the sole means of wealth preservation. The chart of gold, $GOLD, reveals that with... More
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  • Euro And European Financials Bounce Higher On Eve of Vote Of Confidence In Greek Government 0 comments
    Jun 21, 2011 6:45 PM | about stocks: FXE, EUFN, RZG
    Financial Market Report for June 21, 2011

    The Euro And European Financials bounced higher on the eve of Vote Of Confidence in the Greek Government … A negative vote by the Greek parliament could trigger poltical and investment chaos in Europe … Vote on Austerity Plan to take place on June 30th.

    1) … Stocks bounced higher on the eve of a vote of confidence in the Greek Government
    ACWI 1.7%
    IWM 2.1%

    SIL 5.2
    GDXJ 4.1
    XME 3.6
    KOL 3.4
    IGN 3.4
    COPX 3.3
    PSCT 3.2
    XSD 2.9
    PSCE 2.8
    HAP 2.7
    MOO 2.7
    HAP 2.6
    RZG 2.6

    Chart of the Euro, FXE

    Chart of European Financials, EUFN

    2) … Between The Hedges relates The Local reports Big German/French Businesses Make Plea to 'Save the Euro'. Dozens of Germany's leading business executives have made an impassioned defence of Europe's common currency in a newspaper ad campaign urging angry taxpayers to look beyond the cost of bailouts to the benefits the euro. Bosses from 50 of Germany and France’s top companies, among them. Siemens, BMW, Deutsche Bank, ThyssenKrupp, EON and Daimler, joined the plea to stand firm with the embattled euro in advertisements carried in major newspapers on Tuesday under the headline, “The euro is necessary”.

    3) … Reuters reports the S&P has reconfirmed Greek debt restructuring likely a default
    Stocks: FXE, EUFN, RZG
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