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Obama Re Affirms US Leadership The world can breathe a sigh of relief as it appears as if some sanity has prevailed and presented itself in the form of the G20 Communiqué.
Read All About The New World Order - As it is forming at the Official G20 Website http://www.g20.org/pub_communiques.aspx
Financial Markets Rejoice The equity markets soared as it learned of the success of the London Summit and Barack Obama gave a hopeful press conference that showed his leadership and “Toast Master” skills.
Central Banks Selling Gold Disclosure that the World Bank - IMF and the Central Banks have been granted authority to sell Gold - this will allow the Central Banks to raise capital as they print more cash….and….. Artificially hold down the price of Gold by selling the reserves.
Another Week - Another Trillion - or Three!
The G20 Leaders pledged 1 Trillion Dollars to help developing countries and to support the IMF and…Meanwhile Back in Washington - Obama Budget Passes $3 Trillion Dollar Budget
FASB - Mark to Market passed but discussion is that this accounting rule change may prevent the PPIP program announced last week from getting off the ground. But that’s another story….
Meanwhile - Back at the Currency Charts
Euro - Sterling 4 Hour Chart is setting up nice with a Head and Shoulder Pattern and …
The 30 Minute Chart is sporting a nice down trend channel.
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients Click Here for a Free Self Evaluation Survey.