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Reuters: President O announced details of his new initative to pass the “Retirement Annuity Act “(RAA). The president said the taxpayer does not have the necessary sophisticated financial knowledge (no inside information, no lobbyists to ensure la
As we noted this weekend, that takes a lot of the "fun" and excitement out of the market (where retail leverage can go as high as 100x), and it means the industry could go the way of online poker.
Read 'em and weep, boys! If you keep any money in the banking system after reading this, then you deserve what is about to happen to you! You have been warned
The euro has had it, and has a long way to go before it finds a bottom. He is urging investors to short the European currency and go long Canadian and Australian dollars against it. They may resolve Greece, but not Portugal, Spain, or Italy.
There has been much talk about ending the Fed. There's been much talk about just being able to audit the Fed. Should we pin all of our hopes on a political solution? Or, should we take things to a little more personal level?
NIB to stop handling cash 22/12/2009 - 0827am One of the country's larger banks has told to its customers that it is to stop handling cash in its branches. National Irish Bank says it is moving to a Scandinavian model of "cashless banking"
North Koreans are "devastated" following currency reforms that could wipe out their savings, reports say.
Russia's central bank will keep cutting interest rates as policy makers try to prevent speculative capital from flowing in and destablizing the currency, Bank Rossii First Deputy Chairman Alexei Ulyukayev said. Russia need to keep cutting rates to s
Whatever else may be going on, there’s a real bull market in gold. It’s a bull market that began ten years ago. If you’d bought stocks then, you’d have about what you have now…less inflation. If you’d bought gold…you have about 4 times what you had t
The U.S. dollar has changed from being a paper certificate for a tangible asset to a fiat currency - a paper note declared legal tender. By looking at the history of American paper money one can clearly see the distinction. The following image sho
The lead contract surged as high as 82.18, up from 75.38 close on Thursday. Such a move was improbable given that in spot market, the dollar's moves against major currencies such as the euro was limited to about 1%.
The decline of the dollar and decisions in the US not to raise interest rates have "huge" speculation(Carry Trade) in foreign exchange trading and seriously affected global asset prices, said Liu Mingkang, chairman of the China Banking Regulatory Com
The US dollar has so far had an orderly depreciation, Federal Reserve Bank of Dallas President Richard Fisher said on Tuesday. "Thus far the dollar has not been in a disorderly depreciation," Fisher told reporters, when asked about the carry trade.
A bill authorizing Medal of Honor Commemorative coins was signed into law on November 6, 2009 by President Obama. The commemorative coin program will include $5 gold and $1 silver coins to be issued in the year 2011. The Medal of Honor is America's
Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening.
If they thought the sale of 45 tons of gold would hurt the price of gold, they would have kept the sale quiet. If the sale happens, it will now be bid-in-comp and will likely be executed substantially above spot.
Think commodities and emerging markets, and don't expect even high single digit portfolio returns. That was the grim message today at the Forum for Institutional Investors conference, where a panel of private equity managers on macro economics.
Russia plans to sell as much as 50 tons of gold this year to help plug a budget deficit in the first major bullion sale by its precious metals repository since the fall of the Soviet Union, a high level source told Reuters.
Commodities rose broadly Wednesday as the dollar took another tumble, sending prices for gold, oil and soybeans soaring. The ICE Futures U.S. dollar index, a widely used measure of the dollar’s value against other currencies, fell 0.5 percent in afte
“The idea of making money earn a negative return is not entirely new. In the late 19th century, the German economist Silvio Gesell argued for a tax on holding money. He was concerned that during times of financial stress, people hoard money rather th
Now you don't even have to have USD (or EUR or JPY or any other fiat currency) for collateral.
U.S.-based clearing house CME Group Inc. /quotes/comstock/15*!cme/quotes/nls/cmewill allow physical gold to be used as collateral for margin requirements on all exchange products, a spokesman said Monday.
Greenlight Capital manager David Einhorn said Monday that his hedge fund firm is betting on the possibility of a major currency collapse and a surge in interest rates, citing ballooning government deficits in some of the world's most developed countr
Leftist Latin American leaders have agreed on the creation of a regional currency to scale back on the use of the US dollar as well as economic sanctions against Honduran coup leaders. Nine countries of ALBA, a leftist bloc
And you thought you had broken even. If investors had bought gold when the Dow first closed above 10,000 in March 1999, they'd be up almost 280%. Put another way, Dow 10,000 a decade ago “cost” 36 ounces of gold, treating each Dow point as $1. When t
Market analyst Paul Mylchreest, who wrote the 2006 report for Credit Agricole's Cheuvreux brokerage house concluding that the gold market was being manipulated surreptitiously by central banks and, the following year, a similar report for Redburn Pa
Leftist Latin American leaders agreed here on the creation of a regional currency, the Sucre, aimed at scaling back the use of the US dollar.
At one time the case for the gold standard was practically self-evident -- undisputed by most economists and appreciated by both layman and professionals. Today, however, the case for gold is buried under decades of propaganda, misconceptions, and m
At the end of last year, I began writing about what I saw happening as the Federal Reserve started assuming the liabilities of the investment banks and the federal government began deficit spending at an unprecedented pace.I’ve been calling these cha
