Pandora’s Box of rate hikes is opened! Is the dollar being removed from oil trades? Deficits do matter, eh? Gold heads toward its all-time high…And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! A Tuesday morning that is seeing a HUGE currency rally VS the dollar on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, and not wait for November’s meeting,

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A strong currency move Monday… RBA leaves rates unchanged…And moves bias to neutral…Central Bank warnings have no teeth! And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! First day back yesterday was a killer for yours truly… Went home, and went to sleep… But, I’m back today, and feeling good. I did something to my left knee on vacation that left me hobbling, and leaning on my cane more than I usually do.

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by Edward Hugh: Barcelonabr /br /blockquoteJoke - How do you know when a country is in crisis? Well, on the buses on the way to work, and in the bars and cafes during the mid morning break, everyone is reading the economy rather than the sports section in the local newspaper./blockquoteSeveral pieces of news out over the last week are relevant to the whole debate we are having about how to drag the Estonian economy (kicking and screaming it would seem) out of its current slump. In the first place the Estonian parliament passed a supplementary 2009 budget at the start of the week, in an attempt to address the ongoing crisis in the economy and the dramatic decline in revenues. The cuts were approved by 61 votes to 35 against in what was also an effective vote of confidence in the present government. So at least it is clear ...