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Land of the “Free”: Stashing Gold May be Illegal Soon
LAND OF THE “FREE”: STASHING GOLD MAY BE ILLEGAL SOON According to one hedge-fund manager, known for his “doom and gloom” economic outlooks, the federal government may soon make stashing gold away illegal for individuals. Crispen Odey believes that governments will ban the possession of gold if they lose control of inflation of their fiat […]
Paul Tudor Jones: “This Market, Which Is Reminiscent Of The 1999 Bubble, Is On The Verge Of A Significant Change”
Paul Tudor Jones: “This Market, Which Is Reminiscent Of The 1999 Bubble, Is On The Verge Of A Significant Change” Just hours after Neil Chriss announced that his $2.2 billion Hutchin Hill hedge fund is shuttering due to underperformance and admitted that “we fought hard, but did not deliver the performance that you expected from […]
Finding the Root Cause of Recessions
Finding the Root Cause of Recessions Two things bear most of the blame: external shocks and economic volatility. Beware of shocks. Photographer: Gary Hershorn/Getty Images The U.S. managed to avoid recession after the financial crisis, but Japan has succumbed to three contractions since 2009. Economic volatility is a key reason for this divergence, and that […]
I’m in Awe of How Fast Deutsche Bank is Falling Apart
I’m in Awe of How Fast Deutsche Bank is Falling Apart Counterparties lose confidence, withdraw cash. Deutsche Bank, with $2 trillion in assets, amounting to 58% of Germany’s GDP, one of the most globally interwoven banks, with gross notional derivatives exposure of €46 trillion, right at the top along with JP Morgan (booked as €41 billion […]
This Is The End: Venezuela Runs Out Of Money To Print New Money
This Is The End: Venezuela Runs Out Of Money To Print New Money Back in February, when we commented on the unprecedented hyperinflation about the be unleashed in the Latin American country whose president just announced that he would expand the “weekend” for public workers to 5 days… … we joked that it is unclear just where the country […]
Marc Faber Fears No Soft-Landing Of China’s “Credit Bubble Of Epic Proportions”
Marc Faber Fears No Soft-Landing Of China’s “Credit Bubble Of Epic Proportions” “Investors should (and most don’t) realize China is a credit bubble of epic proportions,” warns an anxious Marc Faber during a brief Bloomberg TV interview. “China is not just a country, it’s an empire,” Faber adds, and warns that while some sectors may […]
$6.5 Billion in Energy Writedowns and We’re Just Getting Started
$6.5 Billion in Energy Writedowns and We’re Just Getting Started The oil and gas industry’s earnings season is barely underway, and already there’s been $6.5 billion in writedowns. On Thursday, Freeport-McMoRan Inc. reported a $3.7 billion charge for the third quarter, while Southwestern Energy Co. — which has a market value of $4.5 billion — booked […]
Russia “Confirms” It Has Plans To Restore Assad Government In Syria
Russia “Confirms” It Has Plans To Restore Assad Government In Syria Watching the US attempt to explain to the public why Washington can’t join the Russians in targeting extremists in Syria has been entertainment gold. The fundamental PR problem revolves around the fact that the West has gone out of its way to hold up […]
EU Aims to Lure Greek Deposits Back to Banks With Bail-in Shield
EU Aims to Lure Greek Deposits Back to Banks With Bail-in Shield Euro-area finance ministers shielded Greek bank depositors from any losses resulting from the restructuring of the nation’s financial system, as part of Friday’s deal on an 86 billion-euro ($96 billion) bailout. Senior bank bondholders will be in the crosshairs if Greek lenders tap […]
China Black Swans Not So Rare Anymore as PBOC Shocks Markets
China Black Swans Not So Rare Anymore as PBOC Shocks Markets Investors should prepare for more surprises out of China after the yuan’s devaluation became the country’s latest unexpected policy move to roil global markets. That’s the advice from Fraser Howie, co-author of “Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise.” He says […]
4 Mainstream Media Articles Mocking Gold That Should Make You Think
4 Mainstream Media Articles Mocking Gold That Should Make You Think For those of you who have been reading my stuff since all the way back to my Wall Street years at Sanford Bernstein, thanks for staying along for the ride. I appreciate your support immensely considering that I essentially no longer write about financial markets […]
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016 Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. Source: Bloomberg The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in […]
The Biggest Winner From The Greek Tragedy
The Biggest Winner From The Greek Tragedy Long after Greece has left the Eurozone and Germany is using the Deutsche Mark as its currency, the people of the two nations, antagonized to a level unseen since World War II, will be accusing each other of benefiting more from the brief but tumultuous period of the […]
Why Would Bloomberg News Completely Disappear the February, 2014 Ukraine Coup?
Why Would Bloomberg News Completely Disappear the February, 2014 Ukraine Coup? Bloomberg says in a post today that the “confrontation between Russia and the US” over Ukraine was “provok[ed]” by Putin’s annexation of Crimea: “…Putin annexed the Black Sea peninsula of Crimea last March, provokingthe biggest confrontation between Russia and the U.S. and Europe since the Cold War.” […]
