Unlike December 3 of last year, when there so much hope just ahead of the ECB's statement and Mario Draghi's press conference, which was all soundly crushed when the European central bank disappointed everyone leading to the biggest surge in the EUR since the announcement of QE1, this time few if anyone harbor any hopes about an upside surprise from not so super Mario.
Things are looking increasingly shaky for central planners around the globe.
Invest In Gold Now As Stock Market To Crash – Faber
Marc Faber, editor of the “Gloom, Doom & Boom Report,” has advised investors that now is a good time to invest in gold because stocks will crash over 40% and the world is on the verge of a new liquidity and debt crisis.
Faber says investors would be prudent to diversify into safe haven in gold bullion which has risen 3% this year and is currently at $1,096 an ounce.
Submitted by Brandon Smith via Alt-Market.com,
"It’s Black Wednesday for emerging markets," one strategist warned and Thursday is not looking any better, as SocGen's Berg warns "The rout in emerging markets could continue for some time, especially as the major global central banks have exhausted their ammunition in recent years, making it unlikely that they will rescue global markets this time around." In fact, as Bloomberg reports, this year's EM turmoil is already worse than in the same period in 1998's Asian financial crisis (and EM FX is even worse).