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Daily Pfennig

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  • A Lost Decade?

    In This Issue..

    * An Up and Down day for currencies...
    * Jobs Jamboree moves to Thursday today...
    * China to buy more Gold!
    * Sweden cuts rates!

    Good day... And a Thankful Thursday to you! I'm reminded that we all need to be thankful for the patriots that led this country to victory and thus our freedom. The freedom for me to write a letter like this, each day, that allows me to say what I want to say (well, with the governor of the legal beagles of course!). And since this weekend we will celebrate our Independence, I thought this to be a good time to have a Thankful Thursday!

    Patriots... You know, the ending story for those 56 Patriots that signed the Declaration of Independence is not a happy story... So, when we learn of their collective fates, we realize that freedom does not come free......
  • Dollar Shows Additional Strength...

    In This Issue..

    * Euro at one-month low... * Trichet talks rate cuts... * Riksbank & Bank of Canada this week... * The Mogambo on a Monday!

    Good day... And a Marvelous Monday to you! Today is a special day, in that it is the Big Boss Frank Trotter's birthday! Happy Birthday Boss! Actually Frank is more of a very good, long time friend, mentor, and then boss. We've worked together for a very long time... I tell people at shows that Frank and I do together, that we've been working together for so long... The Dead Sea wasn't even sick when we began working together! HAHAHAHAHAHA!

    OK... A bad day a the office for the euro and other currencies on Friday, and then last night in the overnight markets... European Central Bank (ECB) President, Trichet, once again deep-sixed the euro with talk of further rate cuts. He did attempt to water down the message by saying that "any rate cuts would be measured 25 BPS cuts" Memo to Trichet... It doesn't matter what the size of the debasing is, as long as you are going to debase your currency, the markets will make you pay for it!...