Is Gold Money?

In signature instigator style, Ron Paul asked Ben Bernanke last week: Is gold money? Until today, I haven’t seen much more than quips on the matter but this Forbes piece by Josh Brown does a great job of answering the question. And yes, it’s full of Brown’s signature quippage, my favorite of which is: So

Why QE2 failed & why its end will bring lower Treasury yields

Some folks think that because the Federal Reserve will soon stop its daily purchases of Treasuries per Q2, Treasury prices will go down and yields and mortgage rates go up. I think this view is completely inaccurate. As QE2 ends, let’s to try to figure out what it did. Quantitative Easing-Round 2 was a $600

Fundamentals 6/10

Import & Export Prices: Export Prices – Month/Month +0.2 % Export Prices – Year/Year +9.0 % Import Prices – Month/Month +0.2 % Import Prices – Year/Year +12.5 % This is largely a story of commodity prices and commodity prices have been affected by changes in the value of the U.S. dollar. Most commodities are traded

[ __________ ] Is The New Subprime

A few weeks before the darkest days of the financial crisis in September 2008, economist Nouriel Roubini said: “we have a subprime financial system, not a subprime mortgage market.” Then the wheels came off: Fannie and Freddie overtaken by Treasury, Lehman failed, Merrill overtaken by BofA, WAMU overtaken by Chase, Wachovia overtaken by Wells, AIG

Rates rising as oil, gold, silver soar

Inflation is the theme driving rates higher this morning as mortgage bonds (FNMA 30yr 4% coupon) are down 22 basis points and the 10yr Note is down 31 basis points to yield 3.59. Average 30yr fixed mortgage rates (on loans to $417k) had been holding just below 5%, but if this selloff holds, it would