Zero interest rate policy scorches the planner and the saver, rotting the seed corn while providing fuel for speculation, breeding the trading culture pestilence we see today. Yet again, another tiresome cycle appears. More bubbles to end all bubbles.
Argentina holds an estimated 27 billion barrels of technically recoverable oil and 802 trillion cubic feet of technically recoverable shale gas, much of it located in the Vaca Muerta, an enormous shale formation in the Neuquen basin -- the second-largest shale gas deposit and the fourth-largest shale oil deposit in the world.
Wholesale London gold sank against all currencies Thursday morning, falling 1.9% vs. the dollar to hit six-month lows after initially trading flat overnight despite the U.S. Fed finally reducing its $85 billion per month in asset purchases.
The price of wholesale gold held steady around $1,230 per ounce in London trade Monday morning, ticking upwards as European shares slipped but Asian stock markets closed higher after strong data from China.
The price of gold recovered overnight losses after the release of US Federal Reserve meeting notes in London trade Thursday morning, rising back to $1,375 as major stock markets also rose with commodities.