The Weekend Read: Gold Fever!

In my theory of reflexivity I assert that the thinking of economic agents serves two functions. On the one hand, they try to understand reality; that is the cognitive function. On the other, they try to make an impact on the situation. That is the participating, or manipulative, function.

The two functions connect reality and the participants’ perception of reality in opposite directions. As long as the two functions work independently of each other they produce determinate results. When they operate simultaneously they interfere with each other. That is the case not only in the financial markets but also in many other social situations.               -  George Soros

China
4 Reasons To Cheer When China Overtakes America – US News
Chinese Manufacturing Withstands Wen’s Campaign to Rein in Surging Prices – Bloomberg

Commodities
Bernie Sanders Demands Action From Obama On Wall Street Oil ‘Gambling’ – Huff Post
Coffee producers chase the high – FT
Gold-Buying Central Bankers May Extend Record Rally – Bloomberg
Gold surges to all-time price record – FT
Investors stampede into a modern-day silver rush – LA Times
When the apocalypse comes, we’ll have all the gold – Market Watch
Why the Silver Market Has Gone Nuts – Smart Money

Currency
Cheap dollar fuels one-way bets in everything else – Reuters

Economics
Caterpillar bullish on global economy – FT
What’s wrong with America’s economy? – Economist
Why I agree with (some of) Friedrich Hayek – George Soros

Emerging Markets
Brazil’s boom masks growing vulnerabilities – FT
Poland:  A place at the top table – Economist

Europe
Earth to Greece: It’s Over – Forbes

Geopolitical
The battle for Libya:  Pressure points – Economist
The revolt in Syria:  Not so easy – Economist

Japan
If Bill Gross Sees U.S. as Shaky, Check Japan: William Pesek – Bloomberg

Markets
Apple juggernaut sends ripples through tech world – AP|
Brussels opens CDS antitrust probes – FT
Where’s the wall of worry? – Market Watch

Monetary & Fiscal Policy
As Inflation Surges, Central Banks Run Amok – Andy Xie
EM central banks are doing Fed’s dirty work – FT
For the Fed, a Narrowing of Options – NY Times
What Ben Bernanke should’ve said – Washington Post
Why the power of the mighty Federal Reserve is finally on the wane  - Telegraph

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5 Responses to The Weekend Read: Gold Fever!

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