After the catastrophic collapse of the world's second largest cryptocurrency exchange, FTX, the SEC's Chairman, Gary Gensler, has signaled that his commission will be taking a harder line on cryptocurrency exchanges, tokens, hedge funds, and broker-dealers. Gensler made the comments about cryptocurrencies in an interview with Yahoo! Finance. When interviewer Jennifer Schonberger asked Gensler why the SEC didn't enforce the rules on the books regarding the collapse of FTX, Gensler responded: We are enforcing. The Securities and Exchange Commission, I couldn't be prouder. And it started under … [Read more...]
Gold, Silver, and Currencies
Young Research & Publishing has been providing research and insights on precious metals and currency markets to institutional investors, corporate financial officers, business owners, and individual investors for over four decades. Richard C. Young started Young Research & Publishing in the 70s to publish the authoritative Young's World Money Forecast, a 50-page monthly investment report on the precious metals and currency markets. Today, our research on gold, silver, and currencies is geared toward investors in or nearing retirement who are looking to preserve and protect wealth.
Crypto Owners Dumping Luxury Cars as Industry Suffers
The barrage of mishaps and catastrophes in the cryptocurrency market just keeps on going. Following the collapse of major cryptocurrency exchange FTX, other crypto-related companies have seen their fortunes falter. BlockFi, a crypto lender, has filed for bankruptcy, Bitfront, another crypto exchange, is shutting down, the world's largest cryptocurrency exchange, Binance, has been shoring up its "Secure Asset Fund," and in the last couple weeks, at least three big crypto players have died in mysterious circumstances. It's been a rough month for the industry. Now, crypto owners who spent big … [Read more...]
How to Invest in Gold
How should you invest in gold? We explain how to invest in gold in seven different ways. We explain how to invest in gold coins or bars. How to invest in gold exchange traded funds (ETFs). How to invest in gold mining stocks and gold royalty stocks, and how to invest in gold futures. At Young Research, we have followed the gold market for over four decades. Young Research’s founder and Chairman, Richard C. Young even owned a small private gold company that specialized in Gold Pandas. To invest in gold back then, it was either gold mining stocks or gold coins for most. Today, … [Read more...]
CRYPTO CHARLATANS: Investors Lulled to Sleep by Celebrities, Influencers
Investors in cryptocurrency on the FTX exchange weren't just taken in by the celebrities they saw pitching it to them during the Super Bowl. There were self-styled "financial influencers" who also pushed crypto onto unsuspecting investors eager to beat the zero-interest rate environment. Despite Tom Brady's endorsement of FTX, investing is supposed to be boring, not run like a fantasy football team. Listen to what crypto buyers interviewed by The Wall Street Journal have to say about their involvement with FTX: “My blood is boiling,” said Matthew Way, a fundraiser for an Illinois orchestra … [Read more...]
Remember This from FTX Bankruptcy and You Can Thank Yourself Later
The fall of crypto exchange FTX is a brutal lesson in fear and greed. Not the fear of losing but the fear of missing out or FOMO. FTX founder Sam Bankman-Fried (SBM) said this on the podcast “Odd Lots” describing how venture capitalists pick investments (highlighted by Jason Zweig in his WSJ column the “Intelligent Investor”): You get a bizarre f—ing process that does not look like the paragon of efficient markets that you might expect. [Venture capitalists] see what all their friends are chattering about, and their friends keep talking about this company…and they start FOMOing [feeling the … [Read more...]
CRYPTO CONTAGION: Will Exchange Troubles Cause a Panic?
Cryptocurrency exchange FTX has been forced to seek a rescue from its rival, Binance, in order to avoid collapse. Joshua Oliver reports in the Financial Times: Contagion fears are sweeping across the crypto industry as market participants race to determine who is exposed to Sam Bankman-Fried’s secretive digital asset trading company Alameda Research. Alameda, a proprietary trader, has been a low-profile part of the entrepreneur’s crypto empire, but is at the centre of the storm that has engulfed his crypto exchange FTX. Market worries over Alameda’s financial health accelerated, … [Read more...]
Is Currency Hedging a Future Systemic Risk?
In the Financial Times, Antonio Foglia makes the case that currency hedging as being done today could pose significant risks to the world's financial system. Foglia concludes: Over the past year, investors have suffered substantial losses as the price of bonds fell worldwide as interest rates have risen. And since the value of their dollar bond portfolios fell, foreign investors had to adjust their hedges down, buying back dollars and selling their home currencies. This is an activity usually carried out by back offices which at least on a quarterly basis adjust the size of their currency … [Read more...]
How Long Can Japan Maintain Yield Curve Control?
Mohamed El-Erian suggests that Japan's policy of yield curve control will inevitably be ended. So how long can it last? He writes in the Financial Times: After occupying a central role in international trade and currency developments in the 1980s and 1990s, Japan’s influence on the global economy and markets gradually declined. “What happens in Japan stays in Japan” became the mantra for many. But this could change if the Japanese authorities do not prepare well for what increasingly looks like an inevitable exit from its “yield curve control” policy. YCC is a monetary policy regime … [Read more...]
Could America’s Markets Melt Down Like the UK’s?
UK Prime Minister Liz Truss resigned today, largely in the wake of a market meltdown in UK bonds (gilts) that followed the unveiling of her government's tax and spending plan. You've read about the effects that plan had on markets and especially on UK pension funds here, here, and here. Now, analysts are considering whether or not a similar meltdown could happen in the United States. Jeanna Smialek, Jim Tankersley, and Joe Rennison report for the NY Times: The Bank of England had to swoop in to buy bonds and soothe markets after the British government released a fiscal spending plan that … [Read more...]
Pensions Snagged by LDIs Rescued by Bank of England
UK pension funds that were engineering their way around the Bank of England's super low-interest rates have now had to be saved by, you guessed it, the Bank of England, from its rapidly increasing interest rates. The Bank of England’s gilt bailout is based on guilt for pensions that were recklessly exposed to LDIs. Such action promotes more of the same behavior if the BOE is always there as a safety net. The pro-growth supply-side tax cuts are being blamed, but that’s misplaced. A mirror might be a good tool for the elites. The Wall Street Journal's Paul Hannon reports: The central bank … [Read more...]
- 1
- 2
- 3
- …
- 28
- Next Page »