by agm | Aug 7, 2011 | news
LONDON — More than $2.5 trillion have been wiped off the value of world stocks this week on mounting concerns the global economy is heading toward another recession and Italy and Spain are being engulfed by the euro zone sovereign debt crisis. The sum wiped off the...
by agm | Aug 3, 2011 | news
China, the largest foreign investor in U.S. government securities, joined Russia in criticizing American policy makers for failing to ensure borrowing is reined in after a stopgap deal to raise the nation’s debt limit. People’s Bank of China Governor Zhou Xiaochuan...
by agm | Jul 29, 2011 | news
House Speaker John Boehner plans to take his proposal to raise the U.S. debt-ceiling to a vote in the chamber about 6 p.m., Republican leaders announced. The vote is scheduled to occur between 5:45 p.m. and 6:15 p.m. in Washington, according to a plan put out by the...
by agm | Jul 28, 2011 | news
U.S. banks searching for hints of credit-market distress ahead of next week’s deadline to raise the debt ceiling are finding few signs of panic so far. Commercial banks and securities firms are tracking how money-market funds adjust holdings and whether participants...
by agm | Jul 26, 2011 | news
President Barack Obama warned that the nation’s burgeoning deficit threatens to do “serious” damage to the economy and pressured Congress to reach a compromise on a deal to raise the debt ceiling and address future shortfalls. With a week left before the Treasury...
by agm | Jul 25, 2011 | news
Gold climbed to a record in New York and London as U.S. lawmakers failed to reach an agreement on raising the federal debt limit, boosting demand for the metal as a protection of wealth. U.S. House Speaker John Boehner plans to press ahead with a two-step debt-limit...
by agm | Jul 23, 2011 | news
NEW YORK (Reuters) – American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation’s top AAA credit...
by agm | Jul 21, 2011 | news
It’s a case that combines history and mystery–and very valuable gold coins. The stakes were certainly high: One of these rare $20 pieces sold for a record $7.59 million in 2002. Here’s the story. A jury decided that a Philadelphia woman, Joan...
by agm | Jul 21, 2011 | news
Reports emerged last night that the Federal Reserve is actively preparing for a government debt default. With negotiations over the debt ceiling still going nowhere, it’s clear that Fed Chairman Ben Bernanke and his fellow central bankers don’t want to be...
by agm | Jul 20, 2011 | news
As the dollar continues to shrink, silver and gold are moving up nicely. I believe they will rise for years to come. Gold has nearly doubled since early 2008 when it hit $850. As this is written, gold is over 1600, with silver just over $40! If you haven’t bought...