A major economic crisis is looming in the Caribbean. Puerto Rico, a US Commonwealth will be the center of attention in the world of finance in the coming months ahead. Puerto Rico’s economy has been in a recession since 2006 and its bonds are close to junk status. Puerto Rico is facing an alarming economic downturn that is clearly unsustainable. The economy is headed for a major c... read more
I have stated before that the government was allowing Bitcoin to open the door for the coming virtual digital money. Of course, they will shut down Bitcoin once it has served its purpose. They have drawn the line in the sand and now the world’s largest manufacturer of physical Bitcoin coins will no longer accept orders since the U.S. authorities have imposed regulations that cannot be circumv... read more
All eyes are on the FOMC this week and speculation is high that the Federal Reserve may taper. Fed policymakers gather for the last time in 2013 for a two day policy meeting that concludes this Wednesday.
The dreaded 'taper' is becoming a bit of a caper as the death of QE is greatly exaggerated. While a taper is indeed possible, any reduction in bond buying is likely to be small and of the o... read more
Dec 13 (Reuters) - Cyprus has no plan to sell gold reserves to fund its 10 billion euro ($13.75 billion) bailout, officials at the central bank said on Friday.
Cyprus's government in April undertook to look into selling its gold reserves to raise 400 million euros to help finance part of its EU-IMF bailout.
"We do not intend to sell the gold," a senior official at the central bank told Re... read more
The Swiss government has approved a change in how data on gold trade is compiled in an effort to reduce abuses in the precious metals' market.
The governing Federal Council of ministers, which includes the president, says figures on gold imports and exports will be broken down by country starting next year.
The seven-member Council said in a statement Friday the change is intended to comp... read more
No one can question the fact that the demand for silver has grown exponentially in the past few years, record sales for American Eagle coins being one small example, record buying in India, another larger example. Demand has never been greater. Supply, on the other hand, keeps diminishing.
Global mining production is at its lowest in the past decade. The annual Consumption/ Production ratio... read more
Despite numerous "13s", infamous technical analyst Tom DeMark tells Rick Santelli, the Fed's liquidity pump has negated every one of these 'potential sell' signals and stocks have "unusually" kept going. DeMark goes on to note several analogs and trendlines that look extremely familiar; warning that the convergence of all these signals is notable and suggest "something... read more
Some of the most respected prognosticators in the financial world are warning that what is coming in 2014 and beyond is going to shake America to the core. Many of the quotes that you are about to read are from individuals that actually predicted the subprime mortgage meltdown and the financial crisis of 2008 ahead of time. So they have a track record of being right. Does that guarantee t... read more
Many a (more or less) big philosopher has racked his brain as to why money has value. Aristotle was of the opinion that good money should come with very high production costs so as to induce people to attach value to it. He claimed that everybody would have to accept it as means of payment, value store, and value benchmark. Along those lines presented by Aristotle, basically an ancient g... read more
INDIAN POLITICS
The events in India have taken a most interesting turn for gold. The one year-old political party that is anti-corruption is shaking the political foundations there. The ruling National Congress P... read more
