Much sooner than I expected, a European Monetary fund is slated to get up and running in June. The period of study has evidently been compressed due to, er, exigent circumstances.
Despite the headline that announces it, "European Monetary Fund to Launch by June," the bulk of the article suggests that it's still in the talking stage and sketches out the difficulties such a fund will have when it approached launch stage.
Its fate will be an interesting test to see if Euroland is indeed "Bureauland."
Subscribe to:
Post Comments (Atom)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/tny_au_en_usoz_2.gif)
The EMF is quite literally "Washington Agreement, Part Three."
ReplyDeletePsychologically, its impact will be huge, once it starts making the top of the business headlines, which it is already beginning to do in Europe.
Also potentially flying straight in the face of "seasonality," no matter what bets The Boyz have already put on:
None other than Jeff Immelt sounding like a super-goldbug Thursday evening, calling pretty darn openly for a lower dollar to increase competitiveness.
And now the revelation of all three probable Fed appointees, who will turn it into the most dovish Fed in decades.
(Two interesting sidenotes with sector implications: The whole Toyota business seems to those whose memories are functioning as an almost exact replay of Bridgestone, which was a precursor of Washington Agreement One.
(And China's big rebuff in West Africa last week means they are going to make more mining bids to replace what they lost. I could repeat some strong rumors, but I think I'll just buy them instead!)
Thanks for your thoughts, and best of luck with your own picks.
ReplyDelete