China Continues to Shop America!
"In a trendsetting deal that gives U.S. investors a direct play on mainland China's fast-growing financial muscle, China Minsheng Banking Corp. Ltd. will acquire a 9.9% stake in San Francisco's UCBH Holdings Inc. (UCBH), making this the first Chinese investment in a U.S. bank." from Monday Morning http://www.moneymorning.com
Since China is sloshing about with a great supply of U. S. Dollar instruments, it is no wonder that she wants to spend some here.
The dollar rally lasted only one day and the down trend resumed sending gold over 740 and crude above 80. The Euro is back above 1.41.
The mining stocks have responded quite well. Harmony is still being punished for the miners who were trapped and then saved. There seem to be some questions on safety in the very deep South African mines. The gold and other minerals must be mined deeply, because the mine have been worked over so long a period of time that the shallow minerals have been depleted. Also, note that it is much more expensive in labor, machines, and safety to be so deep under the earth's surface.
Newmont (NEM) has shrewdly made a 1.5+ billion offer for Miramar (MNG). Newmont wants to secure additional gold in the ground and will do so with this deal. Both are up today.
The DJI has hit a sandy spot for the time being and is down 140+ to about 14023+ now. With all the liquidity in the market, it must flow somewhere and the broad market seems to be the recipient of a good bit.
Keep your eyes upon King Jesus and follow His way, which is the only way to live both here and hereafter. He will return to the Great White Throne to judge all. I pray that you are among the sheep and not the goats.
Best to each, Doug
Since China is sloshing about with a great supply of U. S. Dollar instruments, it is no wonder that she wants to spend some here.
The dollar rally lasted only one day and the down trend resumed sending gold over 740 and crude above 80. The Euro is back above 1.41.
The mining stocks have responded quite well. Harmony is still being punished for the miners who were trapped and then saved. There seem to be some questions on safety in the very deep South African mines. The gold and other minerals must be mined deeply, because the mine have been worked over so long a period of time that the shallow minerals have been depleted. Also, note that it is much more expensive in labor, machines, and safety to be so deep under the earth's surface.
Newmont (NEM) has shrewdly made a 1.5+ billion offer for Miramar (MNG). Newmont wants to secure additional gold in the ground and will do so with this deal. Both are up today.
The DJI has hit a sandy spot for the time being and is down 140+ to about 14023+ now. With all the liquidity in the market, it must flow somewhere and the broad market seems to be the recipient of a good bit.
Keep your eyes upon King Jesus and follow His way, which is the only way to live both here and hereafter. He will return to the Great White Throne to judge all. I pray that you are among the sheep and not the goats.
Best to each, Doug
posted by Doug @ 12:28 PM
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