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Global Investing Roundups

Oil’s Big Rebound; More Deposit Insurance; Home Prices Continue to Collapse; Sovereign Soars on Management Change; Taking Midway Private; Pfizer’s R&D Refocus

  • Oil prices rallied yesterday (Tuesday) jumping $4.27 to settle at $100.64 a barrel on the New York Mercantile Exchange, after earlier rising as high as $101.40. On Monday, prices fell $10.52 to settle at $96.37 - the second largest drop ever in dollar terms.

  • Barney Frank (D-MA), the chairman of the House Financial Services Committee, yesterday (Tuesday) told policymakers that Sheila Bair, chairman of the Federal Deposit Insurance Corp., would seek to increase the deposit insurance limit to a level above its current $100,000 level, Reuters reported. The agency’s insurance fund stood at about $45.2 billion at the end of the second quarter.

  • Prices of U.S. single-family homes fell a record 16.3% in July from a year earlier, according to the Standard & Poor’s/Case-Shiller Home Price Indexes. The S&P/Case Shiller composite index of 20 metropolitan areas fell 0.9% in July from June. Since the peak of the housing boom in July 2006, the index has dropped 19.5% the group said.

October 1st, 2008

Peter Schiff: Why this Money Should Replace the U.S. Dollar

There’s a new universal currency, backed by solid gold. You can use it to make online purchases anywhere in the world. Converting some money to the new currency takes just 5 minutes. You can start with as little as $10… or as much as $10 million.

According to CNBC star analyst and Euro Pacific Capital President Peter Schiff, this money could double the value of your savings – automatically – in just 6-9 months.

For Schiff’s full analysis and recommendations, please go here.




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