Feb. 12 (Bloomberg) -- At the heart of the European debt crisis is the euro, the currency that ties together 18 countries in an intimate manner. So when one country teeters on the brink of financial collapse, the entire continent is at risk. How did such a flawed system come to be? Bloomberg Television and Jonathan Jarvis present "The European Debt Crisis Visualized." … [Read more...]
Asia’s River of Gold
Gold’s recent price movements have created a new breed of investor in Asia. With many Chinese shut out of their favored investment, the real estate markets, by increasing government regulation, they are looking for new avenues. Gold is now being sold in more banks, and Chinese investors are snapping it up. To the South West, in India, buyers are paying as much as $160/ounce premium to buy gold after the government put limits on its import. Smuggling seems to be rampant. In Singapore, a Brink’s general manager told Bloomberg “We need additional capacity, so we have to take further space. … [Read more...]
Bitcoin: Understanding the Cryto-Currency
Find out what you need to know about Bitcoin right here. This primer will get you started on understanding the digital crypto-currency. Who: Bitcoin was started by a cryptographer/developer calling himself Satoshi Nakamoto. Satoshi never revealed much about himself, and after getting the project off the ground, left in 2010. Since then a large group of developers has taken on the task of building the currency's infrastructure. What: Bitcoin is a digital currency, protected by cryptographic tools used to prevent rapid money expansion and counterfeiting. Bitcoin isn’t the first … [Read more...]
VIDEO: Potential for another stock market collapse: Nobel winner
CNBC: Robert Shiller, professor of economics at Yale and 2013 Economics Nobel Prize Laureate, says there is a potential for another stock market crash similar to the 1930s. … [Read more...]
World’s Largest Bank to Default!
On January 31, the world’s largest bank will default on its obligations. The somewhat tragically named 2010 China Credit-Credit Equals Gold #1 Collective Trust Product bonds issued by Industrial and Commercial Bank of China, the world’s largest bank by deposits, will not be repaid in full. Without a bailout, this will turn into China’s first major default according to Reuters: ICBC, which marketed the product without providing any formal guarantee against default, said on Thursday that it would not bear the "main responsibility" for repaying investors. China has not suffered a large-scale … [Read more...]
Yesterday’s Winners: Best Buy Edition
We all know the adage, “yesterday’s winner is today’s loser,” or some variation thereof. That’s why it’s no surprise to see Best Buy tanking on the back of a sales report that showed its holiday revenue results coming up short. Investors punished Best Buy shares after the report was released, driving them down over 28.5% at last look. This is probably hard to believe for some because Best Buy was one of the S&P 500’s top performing components in 2013. But those who think back just a little further will remember that Best Buy seemed on the verge of bankruptcy in 2012. The moral of … [Read more...]
VIDEO: Faber: Fed Policy Has Led to Global Problems
Who Will Buy Your Stocks?
Zero Hedge highlighted a striking statistic on its website last Wednesday. A chart with data from Investors Intelligence showed that survey reporting bullish sentiment over 60%, and bearish sentiment in the tank. There are four times as many bulls as bears—a high that goes back almost three decades and covers two of the largest asset bubbles in history. Investors are more euphoric than they were at the height of the dotcom and real estate bubbles. With so many bulls already all-in on the stock market, who are the buyers that are going to drive prices up from today’s already lofty levels? … [Read more...]
The Cold Hard Economy
Whenever bouts of cold or precipitation hit the country it is inevitable that publicly traded companies’ managements will regale quarterly analyst conference calls with the news that weather played a detrimental effect on earnings in the quarter. We think we speak for the entire analyst community when we say “save it.” Fear mongers are already playing up the bout of cold hitting the country this week. Over at CNBC, Steve James writes: The record cold spell that has half the country in the deep freeze could cost the U.S. economy up to $5 billion. That's because millions of Americans … [Read more...]
VIDEO: Gold Restrictions Fuel Black Market in India
Bloomberg: -- The Indian government wants to cut gold imports to 800 tons by the end of the financial year, down more than five percent from the previous period. The restrictions are aimed at closing a widening current account deficit but, as Paul Allen reports, the authorities are facing a tough and traditional foe. (Source: Bloomberg) UPDATE: 12/7/2016 Fergal O'Connor writes at The Conversation: The Indian government has been trying to reduce its citizen’s demand for imported gold through a number of means over the last few years. This is part of a wider crack down on currency used in … [Read more...]
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