A gold vault that can store 2,000 metric tons, double China’s projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia’s largest economy.
The Malca-Amit Global Ltd. logo is displayed on th... read more
Authored by Lawrence Kotlikoff, via Yahoo Exchange blog,
In his parting act, Federal Reserve Chairman Ben Bernanke has decided to continue printing some $85 billion per month (6% of GDP per year) and spend those dollars on government bonds and, in the process,... read more
As gold prices have fallen, yet another nation is choosing to use the drop to build its reserves. As Bloomberg notes, Turkey’s gold imports that doubled this year are set to reach the highest level since 2005 as the metal's price heads for the first annual drop in 13 years. As Commerzbank notes "there seems to be a lot of interest in physical gold at the current low price,"... read more
The global currency wars are heating up again as central banks embark on a new round of easing to combat a slowdown in growth.
The European Central Bank cut its key rate last week in a decision some investors say was intended in part to curb the euro after it soared to the strongest since 2011. The same day, Czech policy makers said they were intervening in the currency market for the first... read more
The standard version of how money came to be goes like this: First, there was barter. (A handful of nails for a pint of ale!) Then, along came various forms of money. An evolutionary derby eventually crowned gold and silver as the supreme money. And finally, credit (or debt) was born. This is the apex of man’s ascent from knuckle-dragging barterer to tie-wearing mortgage holder.
It’s a n... read more
In an interview with ET Now, Marc Faber, Editor and Publisher, Gloom, Boom & Doom Report, speaks about the US tapering, global markets as well as the read more
Paul Craig Roberts thinks the Fed has backed itself into corner. A rise in interest rates would strengthen the dollar, give the dollar new life as world reserve currency, and halt the movement into gold, but a rise in rates would collapse the bond and stock markets and reduce the value of derivatives on the banks’ balance sheets. I asked Dr. Roberts if the Fed would sacrifice the dollar in or... read more
Gold took quite a beating in September, bucking its seasonal average monthly return of 2.3 percent. The political battle between President Barack Obama and Congress, China’s Golden Week, and India’s gold import restrictions likely weighed on the metal.
September’s correction only adds to the negative sent... read more
‘Fedspeak’ was first used to describe the long, often vague statements by Alan Greenspan on changes in Federal Reserve policy. In fact, Greenspan claims opaque answers to straight forward questions were part of the job as he did not want to make markets overreact. In his words, “What tends to happen is your syntax collapses… All of a sudden, you are mumbling. It often works. I created a... read more
The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and read more
