First PIMCO, Then OPEC, Then . . . ?
This remind you of anything?
March 14 (Bloomberg) — Oil exporting countries are cutting holdings of U.S. government debt as energy prices rise, helping depress the dollar, the worst performing major currency of the past six months.
Treasuries owned by …
Kevin Drum vs. the Commodities Market
Kevin Drum makes a good and plausible point about my OPEC post: OPEC may not be able to increase its oil output, even if it wanted to. Drum concludes that oil prices therefore are no reflection of the debased dollar. …
We’ve got goldbugs at the World Bank!
The soaring price of gold reflects international unease about the strength of large developed economies that must be taken seriously by the Group of 20 leading nations, according to Robert Zoellick, president …