Brazil Archive

BRICs Add $60 Billion Reserves as Zhou Derides Dollar

[Skip to the end] They don’t like to buy dollars but they don’t want their currencies to appreciate and risk export market share. And Bernanke, Geithner, and Obama want them to let their currencies appreciate to help our exports and ALSO want them to buy dollars and treasury securities because they think ...Read More

Obama on Energy and Food

[Skip to the end] (email exchange) This will drive up prices of food and energy longer term. Still no plan to quickly bring down crude demand to offset declines in supply side incentives. >    >   Obama doesn’t buy the idea that US tax credits encourage oil and >   gas production. His FY-2010 budget would ...Read More

Obama on quality of US securities

[Skip to the end] Obama Says Investors Can Be Fully Confident in US by Kim Chipman and Alan Bjerga Mar 14 (Bloomberg) — President Barack Obama said investors can have “absolute confidence” in Treasury bills as he sought to assuage China’s concern about the safety of its holdings of U.S. debt. “Not ...Read More

Brazil Discovery May Contain 8 Billion Barrels of Oil

[Skip to the end] About 90 days of world consumption. Exxon’s Brazil Discovery May Contain 8 Billion Barrels of Oil by Joe Carroll Mar 13 (Bloomberg) — Exxon Mobil Corp.’s oil discovery off the coast of Brazil may hold enough crude to rival the nearby Tupi prospect as the Western Hemisphere’s largest ...Read More

Re: View from Europe (cont.)

[Skip to the end] (email exchange) >    >   On Tue, Dec 23, 2008 at 2:43 PM, Russell >   wrote: >    >   Warren: >    >   You have known I have been negative on this >   market collapse for a long time. >    Yes! I was more hopeful for the right political response after it went bad in July. ...Read More

Fed swap lines

[Skip to the end] Recession’s Grip Forces U.S. to Flood World With More Dollars By Rich Miller Nov. 24 (Bloomberg) — The world needs more dollars. The United States is preparing to provide them. In an all-out assault on capitalism’s worst crisis since the Great Depression, the U.S. is taking on the ...Read More

FOMC minutes on swap lines

[Skip to the end] The FOMC doesn’t seem to treat the swap lines any differently than the domestic lending arrangements: In view of a further widening in financial market strains internationally, the Committee considered proposals to establish temporary reciprocal currency (“swap”) arrangements with several additional foreign central banks. Members unanimously approved the ...Read More

Rush to join the euro

[Skip to the end] As the Belgian bank giant Fortis collapses, citizens of that country appreciate the bonheur of belonging to the eurozone. Had it not been for the euro, Belgium would have devalued and sharply increased interest rates — just as Iceland was forced to do. The banking and financial crisis ...Read More

Re: Banks cutting foreign currency loans in Eastern Europe

[Skip to the end] (email exchange) Thanks! >    >   On Fri, Oct 31, 2008 at 7:25 AM, Bob wrote: >    `Panic’ Strikes East Europe Borrowers as Banks Cut Franc Loans By Ben Holland, Laura Cochrane and Balazs Penz Oct. 31 (Bloomberg)- Imre Apostagi says the hospital upgrade he’s overseeing has stalled because his ...Read More

Fed macro policy

[Skip to the end] (email exchange) >    >   On Wed, Oct 29, 2008 at 11:45 PM, Morris wrote: >    >   This is the 64,000 dollar question…will unlimited FED lending to ENTIRE >   world-with IMF help-created recovery? Push on string? Hyper inflation? >   Question of the day…would love others inputs. >    I’d say yes, it’s inflationary and ...Read More