23.09.2008 09:48 Tuesday

The last thing that US Treasury Secretary Paulson probably hoped for when announcing his $700 Billion bailout plan was the price action that we saw across the financial markets today. Rather than stabilizing or calming the markets, the destruction of the US balance sheet has triggered the largest drop in the US dollar against the Euro since its inception in 1999 and the largest single day rise in oil prices since 1984. The Dow Jones Industrial Average closed down 372