I swung through Silicon Valley, one of my favorite spots on the planet; it’s where miracles get invented. And make no mistake, it’s miracles that we need if we’re gonna keep proving Thomas Malthus and his doomsday disciples wrong. The Valley boys forgive failure ‘cause they know that without a healthy dose, you’ll never achieve greatness. But they don’t suffer fools gladly. So they forgave baby Bush for his early fai
Hope all goes well. Foreign Exchange is the world’s chess board; and now everyone’s joined the tournament. With any luck, the novice players will make it easier for old dogs like us to win trophies. Overall: Global politicians debated the precise meaning of “currency war”; took me back to Clinton’s “what exactly is the definition of is” days. Meanwhile, in the voting booth, traders pulled the “Sell” lever; USD fell v
Brazil’s Fin Min Mantega started the wk by stating the obvious, warning of an emerging “currency war” on Mon. Geithner ended the wk, embarrassing himself on Fri, saying he wasn’t sure what a currency war is, but at any rate “we’re not going to have one”. Ever eager to teach bumbling Treasury Secretaries valuable lessons, Mr Market pressed the USD lower vs everything. Gold hit an all-time high, oil broke $80 and coppe
Hope all goes well. Just finished an insane 2 wk tour of NY/Switz, met great folks and had fun but there’s no place like home. The Swiss are more concerned about the world than New Yorker’s, but their economy’s humming and FoF industry stabilizing. Overall: Brazil’s Fin Min Mantega started the wk by stating the obvious, warning of an emerging “currency war” on Mon. Geithner ended the wk, embarrassing himself on Fri,
Switzerland’s the most magnificent country on Earth; it’s a fact. You know, I spent my 30th yr in the mountains high above Geneva, lived alone in a hut — quite literally. I did nothing but climb, and bagged a good many peaks. Left my childhood behind and discovered myself that yr. That’s why we climb mountains, to discover ourselves. Somewhere within the responsibility and vulnerability of being tied to another