Recommended by G.A.T.A.                                         Issue 30  |  September 16, 2014

  
THE Report   
                                     By WWPMC

        From the Desk Of...Rob McInerney ~ WWPMC

Recent Gold Strength | DXY 84.19 (US dollar Index)


 In light of comments made by the main stream media regarding the "strengthening US dollar", I'd like to take a moment to clarify the reality of the US dollar. The US dollar index provides investors with a number, quantifying the US dollar's performance on the world stage against a "basket of currencies" (Euro 57.6%, Japanese Yen 13.6%, UK Pound 11.9%, Canadian dollar 9.1%, Swedish Krona 4.2% and the Swiss Franc 3.6%)

At the last ECB meeting on Sept 4th, Mario Draghi announced it would lower its benchmark lending rate to 0.15% from 0.25%. In June it became the first bank to introduce negative interest rates. Mr. Dragi also announced a potential asset purchase programme (QE) coming as soon as October should conditions dictate. All of these actions had a negative effect on the Euro and any currency pegged.

The Definition of 'Currency Peg': A country or government's exchange-rate policy of pegging the central bank's rate of exchange to another country's currency.

Currency has sometimes, also been pegged to the price of gold (Gold standard). Also known as a "fixed exchange rate" or "pegged exchange rate) to the Euro. That leads us...[Read more on From the Desk Off...in THE Report]

 

THE Report 
                          By WWPMC


Billions Withdrawn From Scotland's Banks Ahead of Independence Vote 

  

Asset managers, investors and pension savers are moving billions of pounds out of Scotland, according to industry executives, amid rising concerns about the financial consequences of a Yes vote in next week's independence referendum.

"The big question is, 'Is my cash safe in a Scottish bank?'" he said. Clients were "concerned that there could be some kind of controls" put on funds in Scottish banks. They were worried that...[to read more go to Banking in THE Report ]


 

  

  
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