April 15 (Bloomberg) -- James Grant, publisher of Grant's Interest Rate Observer, talks about gold prices, inflation and credit markets. He speaks with Deirdre Bolton on Bloomberg Television's "Money Moves." Bloomb... (more)
Drudge is headlining the recent drop in the price of gold to below $1400, the price right now is hovering a little above $1,400. The HUI index just opened down over 7%, it's at a four year low of 280.
I've thought for a while now the imaginary number in my head for gold to become attractive again was $1,500, we cleared it a few days ago and there seems to be a mini-panic ensuing, especially in gold s... (more)
The lesson from the events of 2007-2008 should have been clear: Boosting GDP with loose money -- as the Greenspan Fed did repeatedly between 1987 and 2005 and most damagingly between 2001 and 2005 when in order to shorten a minor recession it inflated a massive housing bubble -- can only lead to short term booms followed by severe busts. A policy of artificially cheapened credit cannot but cause mispricing of risk, misallocation of capital and a deeply dislocated financial infrastructure, all of... (more)
For those of us who think that the world's central banks have been placing too much faith in the money printing press as a means of rousing sluggish economies, last week was bewildering. Gold closed the week below US$1500 per ounce. Not since June 2011 has the yellow metal traded beneath that level. Indeed, well before the breach of $1500, gold had been languishing after hitting an all-time high of $1900 in September 2011, stuck as it was within a range between $1800 and $1520.
Moments ago, it was none other than Takeshi Fujimaki, Soros' former advisor on all matters Japanese, who tripled down on the warnings, and told Bloomberg that the Bank of Japan's "huge bet" by boosting quantitative easing won't turn the economy around and is instead sending the nation toward default.
Their concerns aren’t centered around the possibility of an economic collapse, another down leg in the real estate market, continued deterioration of the labor market, or a US dollar currency meltdown.
With markets at all time highs and financial experts around the world predicting a turn-around in the global economy, a lot of “Mom and Pop” investors who experienced major losses in personal investment funds and home prices during the crash of 2... (more)
April 12 (Bloomberg) -- Gloom, Boom and Doom Report Publisher marc Faber discusses the markets, gold and his investment strategy on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Why the recent sell-off in gold and silver defies the fundamentals, ignores the facts, is predicated on a myth, and has succeeded in creating the necessary level of scepticism and fear to finally propel precious metals to new record highs.
Instead of the endless procession of "different this time", "buy-the-dip", "money-on-the-sidelines" asset-gathering, Muppet-fleecers that CNBC so typically trots out, Sam Zell graced them with his presence and the truth was allowed a voice for a few minutes. Joined by David Rosenberg, who clarifies the insanity that engulfs US equities, explaining in wonderment that it is "not surprising the market rises even in the face of bad ISMs, worse jobs, and worst NFIB data, because Japan and the US are ... (more)
Bitcoin just hit a low of $52.99 per Bitcoin on the BTC-e.com exchange, it stands currently at $59. MtGox has been down for hours for maintenance and the price has been plummeting throughout. Bitcoin hit a high of $266 just yesterday before the ensuing crash. At this point the price is still double what it was two months ago, so it's yet to go through a full routing erasing all gains since going parabolic.
If the media tell us that "the opening of XYZ mill has created 1,000 new Jobs," we give a cheer. When the ABC company closes and 500 jobs are lost, we're sad. The politician who can provide a subsidy to save ABC is almost assured of wide-spread public-support for his work in preserving jobs.
But jobs in and of themselves do not guarantee well-being. Suppose that the employment is to dig huge holes and filll them up again? What if the workers manufacture goods and services that no ... (more)
OK, let me start by saying that I think the general idea of a cryptographic currency is a brilliant one. I can definitely see Bitcoin establishing itself as a major world currency, and basically doing to fiat currencies what email did to the postal system.
However, whenever I mention Bitcoin to anyone, I strongly encourage them not to invest more than they are prepared to lose. I myself only own 10 BTC. Why? Because Bitcoin has flaws, and it has potential enemies,... (more)
In 2010 the Obama administration's Environmental Protection Agency ordered Maryland to reduce stormwater runoff into the Chesapeake Bay so that nitrogen levels fall 22 percent and phosphorus falls 15 percent from current amounts. The price tag: $14.8 billion.
And where do we get the $14.8 billion? By taxing so-called "impervious surfaces," anything that prevents rain water from seeping into the earth (roofs, driveways, patios, sidewalks, etc.) thereby causing storm water run off. ... (more)
OXFORD, Mich. (WJBK) - A man says when he called the Oxford Police Department for help, an officer told him he charged a $500 fee. The civilian recorded the phone conversation.
A rocky relationship turned into a bad breakup for 29-year-old Nathaniel Bennett, who on Sunday felt he had no choice but to call police for help getting back his property from his very angry ex.
"Did not want to have any communication to avoid [a] volatile situation, and so I attempted to u... (more)
