http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
it is a one day affair today. So watch out.
Marc Faber has mentioned of QE4. Think the Europeans are also waiting for QE3.
we would expect Gold to zoom from 1666 to 1900 in short time. And SPX to retake 1400.
That is if QE3 happens.
Meanwhile Intel lowered forecast. Though the Taiwaneese (the whos and whos in the semiconductor industry with whom I spoke to, including Foxconn (subcon for IPAD, IPHONE) expect a stable outlook for next year. Though some industries are not doing as well. Companies like Applied Materials are facing margin squeeze with the move to 12 inch wafers.
China also having a 3 day policy meeting ending tomorrow.
RMB is now on a weakening track, breach the lower limits for 8 days in a row. While those NDF is squeezed.
Meanwhile, the bull markets in the world are RMB, agriculture land. Waiting to burst.
USD is on the verge of a breakup, meaning global assets selling to reverse to USD cash. Meanwhile some Asia banks are offloading their RMB to moms and pops, offering 15% return over 5 years deposit. The outflow of monies from China would be evident in days to come. Some would call it capital flight.(to the delight of China, so that they can chase away the Westerners).
Danone and Nestle are shutting their plants in China, citing competition from local brands. A bunch of well paid Chinese executives are going to lose their jobs.
Would Benny comes to the aid of China ? (bcos QE does nothing to America).
Meanwhile Obama is trying to imitate Rosevelt and lynch the banksters, lobbyist. And he is going to get on the toes of some people in the next 11 months.
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