Dear PGM CAPITAL Blog readers, Since May of this year, Europe, the Euro-zone and the European Debt crisis are the headline of almost every news media on the planet. Currently the head of state of the 27 European Nations are meeting in Brussels, their 21st meeting in 14 month, on the issue of the Greece[…]
Dear PGM Capital Blog readers, Since July 22nd of this year we have seen the major global markets based on fear of a default of Greece in a tailspin. As can be seen in below charts, in the first instance Investors run to precious metals like gold, sending the price of Gold to an all time high of US$ 1,920.00 an oz, but[…]
Dear PGM Blog readers, Today, August 18th 2011, Gold appreciated with USD 35.90 or 2.01 % to close at an all time High of USD 1,824.90 an ounce in New York as can be seen from below chart. The Word Gold Council, has stated in its report “Gold Demand Trends” that the demand for gold[…]
Dear PGM Capital blog readers, Today August 15th 2011, is the 40th anniversary of President Nixon’s ending the Gold Standard and the end of the Bretton Woods international monetary system and the creation of modern FIAT currency. Nixon based his decision on the fact that too much gold was leaving the USA because France’s president Charles de Gaulle was reducing France’s[…]
Dear PGM Capital Blog readers, On Friday evening August 5th 2011, Standard & Poor downgraded the USA credit rating from AAA to AA+. On Sunday August 7th 2011, during “MSNBC” program. “Meet the press”, former USA Fed Chairman, Dr. Alan Greenspan, was asked on his opinion about the downgrade of the USA debt. MSNBC Reporter:[…]
Dear PGM Capital, blog reader, Stocks have treaded water today, all over the world as a reaction to the downgrade of the USA credit rating from AAA to AA+, by S & P, Friday August 5th 2011. The sell-off gained steam after President Obama’s speech of this afternoon, as can be seen from below DOW[…]
Dear PGM Blog readers, On Friday, August 5th 2011, Credit rating agency S&P had the guts to downgrade the USA sovereign debt from AAA to AA+ with a negative outlook for the USA for the coming 15 months. August 5th 2011, will go into history as the day that a “credible” rating agency has acknowledge[…]
Dear PGM Capital, blog readers, During the last few days our telephones and E-Mail box were red hot from readers and clients asking our opinion on the current deadlock in the USA regarding the increase of the debt ceiling. History has proven to repeat itself within a certain cycle. On average we have a recession every 5 years and[…]
Dear PGM Capital, Blog readers, Today Wednesday July 27th 2011, the Australian Dollar closed at an all time high of, USD 1,1026 for AUD 1.00. In the last 5 years the Australian Dollar has appreciated with more than 25% against the USD as can be seen from below chart, this makes the Australian Dollar together[…]
Dear PGM Capital, Blog readers, Today, July 26 2011, Gold closed on a new all time high of US$ 1,619.90 an oz, while the DOW was down and closed at 12,501.30. The latter is the value of the DOW measured in USD, in paper money. However when we measure the value of the DOW in[…]