With the Sequestering in the U.S.A. and no means of a solution, automatic cuts took place as of midnight Friday. Also news that Americans income dropping to worst level in 20 years; City of Detroit not being able to pay its’ bills and looking for a bailout; Jobless rate in Euro zone for youth approaching 65% and regular unemployment hitting 25%, things seem bleaker by the day. Argentina is about to default on bonds issued. Britain entering a new recession; the stock markets move higher while commodities flatten out?  Gold up USD$8.00 to 1580.40/USD$/OZ after hitting U$1563.; Silver up $0.45 @ $28.95USD/OZ. Meanwhile Oil dipped below $90 yet the pump price remains over $1.30/liter in Canada, today we are up $0.38 to $90.50USD$/barrel. Even with the EX-NBA Star, Dennis Rodman visiting North Korea leader, as a gesture of diplomacy, good things could result if leaders took the time to listen?  

Note-movements based on previous days closing market prices.

 

Don’t Forgetta About Me!  Philip Magnoli- My Friends call me Don Filippo- The FX Specialist- www.donfilipo.ca

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