First the news from(There's no "Bull" smilie)
http://www.bloomberg.com/apps/news?p...VM&refer=home#July 2 (Bloomberg) -- The euro may be nearing an ``explosive breakout,'' reaching record levels against the U.S. dollar, according to a Citigroup Global Markets Inc. research note.
http://news.xinhuanet.com/english/20...nt_8478565.htmWASHINGTON, July 2 (Xinhua) -- World Bank President Robert B. Zoellick has called on leaders of the G8 as well as the major oil producers to act now to deal with surging food and energy prices, warning that the world is now "entering a danger zone."
http://www.commondreams.org/archive/2008/07/03/10085/Why don't we just take the oil? We've invested it liberating a country. I can have the problem solved of gas prices coming down in ten days, not ten years."There were a couple of problems with Doyle's plan, of course. The first was that he was describing the biggest stickup in world history. The second, that he was too late: "We" are already heisting Iraq's oil, or at least are on the cusp of doing so.
http://technocrat.net/d/2008/7/4/45106In an unpublished report, the World Bank concludes that 75% of the increase in food prices is the result of biofuel mandates.
And now your friendly
http://boombustblog.com/component/op...tml/Itemid,20/Morgan Stanley, hammered by credit crunch losses, plans to sell half its remaining stake in MSCI, the portfolio analytics and equity indices company, for about $850m.
http://www.economist.com/finance/dis...ry_id=11670925Almost everything that could is going wrong for world stockmarkets
http://www.globeinvestor.com/servlet.../GIStory/EmailToronto-Dominion Bank has disclosed a $96-million loss caused by "incorrectly priced financial instruments" at the TD Securities office in London.
And from the Well-that-worked-well-didn't-it Department:
http://uk.reuters.com/article/email/...080703?sp=trueNEW YORK, July 3 (Reuters) - The Federal Reserve's portfolio of Bear Stearns assets has lost more than $1 billion of its original value, a sign that credit market conditions have worsened in recent months.



(There's no "Bull" smilie)
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"Let me buy all this stuff by giving you USD IOUs. Oh dear - now the USD is worthless so I owe you much less
". Whatever the motivation, the end result seems to be similar.
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