TrimTabs’ Charles Biderman went on CNBC with Rick Santelli to talk about the affect of zero interest rates around the world creating a global recession.
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Below: Santelli and Harris discuss Biderman’s earlier comments.
Chris Hamilton: Is the Printing of the Japanese Yen the Poison Pill for Gold??? The More Yen Japan Prints, the Lower the Price of Gold…Until???
Yen weakness is relative dollar strength is gold weakness…or said otherwise in the land of the blind, the one eyed man is king. If the correlation hasn’t become obvious by now…the carry trade around the Yen and the BOJ’s plan to depreciate or bust seems to have rather outsized impacts across the market spectrum. My interest is the relationship of gold and the Yen. Seems the weakening of the Yen is driving the price of gold…down. Of course the Yen’s weakness is conversely the dollar’s relative strength…but from ’09 and particularly since Japan’s December 2012 turn to “Abenomics”, Gold and the Yen have moved tick for tick. The more Yen Japan prints, the farther the price of gold falls…ahhhh the irony that gold, the finite measuring stick of infinite currencies, seems now only to be measuring the depths TPTB will go to hide currencies relative worth!
Since August ’11 to August of ’14, China has decreased its holdings of US Treasury debt by $9 Billion (according to the most recent TIC data)…while continuing to run record trade surpluses with the US. This means China will have (by year end 2014) taken in $951 Billion in shiny, new, digital dollars since 2011 and simultaneously sold or rolled off $9 Billion in US Treasury holdings…so China will have had to find a home for $960 Billion new dollars. 5 Comments
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Charles Biderman at the Irrational Economic Summit on why Obama is the Worst Economic President and what’s wrong with GDP and the Bureau of Labor Statistics initial jobs report
Charles Biderman talks about his outlook for stock prices and buybacks with Marketwatch’s Chuck Jaffe
Biderman and Kernen discuss how float shrink on top of a slow growth economy has created the widening gap between haves and have nots. Plus Santelli, Liesman & Kernen discuss Biderman’s comments.