Capital Account -- 1/11/12
Published time: 12 Jan, 2012 15:09 Edited time: 12 Jan, 2012 19:09
Mitt Romney wins the new hampshire primaries – he is the biggest recipient of money from Wall Street so far this election cycle. Maybe Obama is trying to catch up though? He heads to a Chicago fundraiser at the home of a former bear sterns executive. Meanwhile, Geithner is in China to talk currency controls with Beijing, and we are in DC to ask if Uncle Sam should really even want to call a cease fire to this currency war. It's a question we will pose to our guest, head of global currency strategy at Brown Brothers Harriman, Marc Chandler. And speaking of currency, which currencies will prevail in 2012 – the dollar, the yet, the swiss franc, the euro? Well, we did see the euro hit a 16-month low earlier this week against the dollar. Will we see a shake up in the global currency basket? Again, we'll be discussing this with FOREX strategist Marc Chandler. And, in a funny twist of fate, it appears that Monti may have a new competitor in Italy as he and Merkel meet to talk about the eurozone debt crisis. Guess who isn't suffering, but rather benefiting from the crisis? The Italian mafia. That's right, the anti-crime group SOS Impresa reports that with 65 billion euros in liquidity, the Mafia is Italy's number one bank. Will we see the Camorra start sell forward protection contracts to take advantage of its newfound financial status?