Thursday, 10 April 2008

Panic! Fed cuts another 0.5%. 2008-01-30

Wednesday 30th January 2008: 10.00 p.m.

We got another half point rate cut by the Federal Reserve today. Result? Gold soars to new record high after Fed cuts rates. Gold for April delivery went as high as $942.20 per ounce on the NYMEX exchange.

Related articles:
Fed cuts by half-point, hinting at more to come
Positive reaction to Fed rate cut short-lived"
Mortgage rates could rise, not fall, after Fed move
Bankers' and brokers' greed has undermined the economy: "Expect more than a typical recession"

Sleep well. Don't have nightmares! :-)

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