November 3, 2011 (Vietnamica) — U.S. dollar prices to buy gold jumped to a six-week high of $1757 an ounce late on Thursday morning – though only 0.7% above last Friday’s close – following reports that Greek prime minister George Papandreou was on the verge of offering his resignation.
October 31, 2011 (Vietnamica) — U.S. dollar gold bullion prices on the spot market dropped sharply to $1708 an ounce Monday morning – a 2.2% fall from Friday’s close – while stocks and commodities also fell and the US Dollar gained following Japan’s intervention aimed at weakening the Yen.
Moody’s Downgraded Italy’s Sovereign Debt, Added Negative Credit OutlookOctober 9, 2011 (Vietnamica) — Moody’s has downgraded its sovereign debt rating for Italy by three notches from Aa2 to A2, while adding that the credit outlook for the country remains negative. Moody’s says that the continued negative outlook is a result of the “ongoing economic and financial risks in Italy and in the euro area”. It also reflects concern that Italy’s ability to tap into sovereign debt markets may be constrained by the “uncertain market environment and the risk of further deterioration in investor sentiment”. Alarmingly, the rating agency has warned of further downgrades should any long-term uncertainty...
September 13, 2011 (By George Friedman, STRATFOR; Repub. by Vietnamica) – When I visited Europe in 2008 and before, the idea that Europe was not going to emerge as one united political entity was regarded as heresy by many leaders. The European enterprise was seen as a work in progress moving inevitably toward unification — a group of nations committed to a common fate. What was a core vision in 2008 is now gone. What was inconceivable — the primacy of the traditional nation-state — is now commonly discussed, and steps to devolve Europe in part or in whole...
