The IMF announced that it plans to raise hundreds of billions of dollars - to be used for loans to beleaguered nations. The European sovereign debt crisis is for sure at the top of the list for IMF assistance. The impact of this sort of news for investors can be surprisingly difficult, because it is the recognition that major structural changes are required and at the same time it is a political effort to manipulate market pricing. Greek talks with the private sector involvement in their debt is the major topic since the markets expect to reach a deal before the 14.5 bilion euros repayment due on march 20. I almost forgot that SP downgraded 9 European countries including France.
The debt problems news releases have been net positive for gold this year, but could turn negative. The US dollar has been benefitting from Europe's problems, but this also could change at any moment, since the American Congress denies a new debt ceiling hike to add more debt to the accumulated debt.
Despite all the incertanty of the euro drama market rallies, with the SP500 index breaking 1300.
Nothing has changed at the top of the World Top Investor league since the first 4 are only doing the minimum trade a month they are required, and the Japanese Toru Ochi has entered now the top 10.
