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Latest Articles: Business/Finance
1,600 Government Agencies Now Accepting New Form of Money (This Is Not About Bitcoin)
Post Date: 2015-02-14 12:19:45 by BTP Holdings
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CLICK HERE: 1,600 Government Agencies Now Accepting New Form of Money (This Is Not About Bitcoin) Dear Patriot, Did you know that President Obama recently signed an executive order mandating the government accept a new form of money? (HINT: This is not about bitcoin). Click here to see what it is. In short, this recent federal mandate requires federal agencies – across the board – to begin accepting a new payment technology in 2015… one that will finally bring near total security to online and retail dollar-based transactions. There are, by the way, at least 1,600 federal agencies today. PC World says this could finally put an end to the massive credit card ...
Russia, China may build world's largest power plant
Post Date: 2015-02-13 21:45:38 by Tatarewicz
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Want... China and Russia are planning to build possibly the world's largest thermal power plant in Far East Russia that would export electricity to China, reports China's nationalist tabloid the Global Times. Shu Yinbiao, the general manager of the State Grid Corporation of China (SGCC), revealed the plan on Feb. 9. The SGCC would be working with the Unity Energy System of Russia to carry out the project and construct what is possibly the largest thermal power plant in the world with 8,000 to 10,000 megawatts of capacity, the article cited from Russia's Kommersant as saying. After the proposed power plant is built, some of its produced energy would be sent to China via a 2,000 ...
HSBC banker-priest in eye of SwissLeaks storm
Post Date: 2015-02-13 06:38:27 by noone222
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London (AFP) - The man at the centre of the SwissLeaks tax scandal in Britain is a soft-spoken Church of England clergyman who turned HSBC into Europe's biggest bank, and was once seen as a model of ethics in finance. HSBC's former chief executive and chairman, Stephen Green, used to be courted for his advice by politicians of all stripes and by the Anglican hierarchy, but now he finds himself widely shunned. The ex-banking titan was pursued down a London street by a BBC journalist this week following the revelations, refusing to answer questions. "I'm not prepared to make any comments about HSBC business past or present," the 66-year-old Green said before walking ...
Standardization key for rehabilitating "Made in China"
Post Date: 2015-02-13 01:01:48 by Tatarewicz
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BEIJING, Feb. 12 (Xinhua) -- For decades, inexpensive Made in China products have flooded global markets and brought benefits to people in every corner of the world. But too often, Made in China was directly associated with inferior quality. The stereotype has become a headache for Chinese companies and the government, both striving to move from low-end growth to a more prestige model. Well, it is time for change. At an executive meeting of the State Council, China's cabinet, on Wednesday, senior leaders including Premier Li Keqiang discussed the need for Chinese industries to set more exacting technical standards, referring to established requirements for the minimum quality of ...
Cheaper crude won’t spur economic growth – Moody’s
Post Date: 2015-02-12 22:22:43 by Tatarewicz
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RT... A fall in world oil prices over the next two years won’t support global economic growth, as economic and political tension in the Eurozone, China, Russia and Japan constrain activity, Moody’s international rating agency said in a report. "Lower oil prices should, in principle, give a significant boost to global growth,"said Marie Diron, a Moody's Senior Vice President and author of the report. "However, a range of factors will offset the windfall income gains from cheaper energy." READ MORE: Low oil prices create ‘window of opportunity’ for China and India - World Bank While in theory lower oil bills should spur economic growth in Europe, ...
Saudi Arabia promised expensive oil to Russia to topple Assad.
Post Date: 2015-02-12 01:20:38 by Tatarewicz
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Pravda.Ru Saudi Arabia promised to cut oil production if the Kremlin agreed not to support Syrian President Bashar al-Assad. According to The New York Times, Saudi and Russian officials were conducting negotiations on the subject, although no result had been achieved yet. A Saudi delegation visited Moscow in November 2014 to discuss the Syrian issue, The New York Times reports with reference to a source in the administration of US President Barack Obama. According to the source, the two countries had conducted an active and tense dialogue over the past few months. The Saudis conducted meetings with Russian partners informally, and it remains unclear how the death of King Abdullah may ...
Our House of Cards
Post Date: 2015-02-11 16:02:38 by Ada
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As John Williams (shadowstats.com) has observed, the payroll jobs reports no longer make any logical or statistical sense. Ask yourself, do you believe that retailers responded to the very disappointing Christmas season by rushing out in January to hire 46,000 more retail clerks? Perhaps those 46,000 retail jobs is the BLS telling us that they have to come up with new jobs to report whether or not there are any. Click for Full Text!
Bye-Bye, Community Banks
Post Date: 2015-02-11 10:25:14 by Katniss
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Bye-Bye, Community Banks The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into law in 2010 by President Barack Obama. Its supporters said that would increase financial stability and transparency, prevent bailouts, and protect consumers from “abusive practices.” I’m dubious the new regulatory regime will accomplish any of these goals. What has really happened since passage? An extreme consolidation of financial institutions. Marshall Lux and Robert Greene, in a new study, show that the long-term trend in which community banks have diminished in number and importance has doubled in severity since Dodd-Frank. You don’t have to be a ...
GUESS WHAT HAPPENED THE LAST TIME THE U.S. DOLLAR SKYROCKETED IN VALUE LIKE THIS?
Post Date: 2015-02-11 08:47:04 by Ada
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… Over the past decade, there has been only one other time when the value of the U.S. dollar has increased by so much in such a short period of time Over the past decade, there has been only one other time when the value of the U.S. dollar has increased by so much in such a short period of time. That was in mid-2008 – just before the greatest financial crash since the Great Depression. A surging U.S. dollar also greatly contributed to the Latin American debt crisis of the early 1980s and the Asian financial crisis of 1997. Today, the globe is more interconnected than ever. Most global trade is conducted in U.S. dollars, and much of the borrowing done by emerging markets all over ...
US Charges Iowa Widow Over How She Deposited Husband's Cash
Post Date: 2015-02-11 07:44:35 by noone222
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An Iowa widow is charged with a crime and had nearly $19,000 seized from her bank after depositing her late husband's legally earned money in a way that evaded federal reporting requirements. Janet Malone, 68, of Dubuque, is facing civil and criminal proceedings under a law intended to help investigators track large sums of cash tied to criminal activity such as drug trafficking and terrorism. But some members of Congress and libertarian groups have complained that the IRS and federal prosecutors are unfairly using it against ordinary people who deposit lawfully obtained money in increments below $10,000. At issue is a law requiring banks to report deposits of more than $10,000 cash ...
HSBC 'tax dodge' revelations are just tip of iceberg, says leaker
Post Date: 2015-02-11 07:27:51 by noone222
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HSBC 'tax dodge' revelations are just tip of iceberg, says leaker AFP By Nina Larson with Roland Jackson in London February 10, 2015 1:16 AM Secret documents published online alleging banking giant HSBC helped wealthy customers dodge millions of dollars in taxes caused global shockwaves The former HSBC employee who leaked sensational secret documents alleging the bank helped wealthy customers dodge millions of dollars in taxes warned Tuesday that the revelations are just the "tip of the iceberg". Related Stories UK lawmakers to probe HSBC over tax evasion Reuters British MPs to probe HSBC over SwissLeaks tax evasion AFP HSBC Swiss unit 'made changes' to prevent ...
Ankara Ready to Discuss Turkish Stream Pipeline Proposals With Moscow
Post Date: 2015-02-11 04:50:38 by Tatarewicz
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Cooperation in the energy sector remains one of the most important factors underpinning relations between Ankara and Moscow as Turkey is the second-biggest consumer of Russian gas in Europe after Germany, Turkish ambassador to Russia said. Gazprom stated that it will deliver to Turkey an additional 2 billion cubic meters of natural gas a year Russian Gazprom Says Will Boost Gas Supplies to Turkey by 2Bln Cubic Meters MOSCOW (Sputnik) — Ankara is ready to discuss the construction of the Turkish Stream pipeline across the Black Sea with Moscow, Turkish Ambassador to Russia Umit Yardim said in an interview with RIA Novosti. "Regarding the Turkish Stream pipeline proposed by ...
Amazon.Con
Post Date: 2015-02-10 21:50:18 by Horse
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I have closely followed Amazon.com since the late 1990’s. Many of you can probably remember that Henry Blodget made his name as a stock analyst with his bold predictions about the upward direction of AMZN’s stock. Granted, this stock defies all laws of fundamental stock analysis and gravity. I’ve come to the conclusion that Jeff Bezos has got to be the greatest snake-oil salesman in history. He’s known for saying “entrepreneurs must be willing to be misunderstood for long periods of time.” When the annals of history are written on AMZN, it will be known as “the company never made money but it’s stock remained insanely overvalued for long periods of ...
David Rosenberg: 'Bonds Priced for World to Come to an End'
Post Date: 2015-02-10 17:23:45 by BTP Holdings
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David Rosenberg: 'Bonds Priced for World to Come to an End' Tuesday, 10 Feb 2015 06:40 AM By Dan Weil David Rosenberg, chief strategist at Gluskin Sheff & Associates Inc., apparently thinks global bonds and the U.S. dollar are more than a little overvalued. "Make no mistake: bonds are already priced for the world to come to an end, and the world is not coming to an end," he said, according to the (Canadian) Financial Post. "And looking at the massive net speculative dollar long positions on the InterContinental Exchange, the bull view on the greenback is arguably the most crowded trade there is across the planet." The 30-year U.S. Treasury yield hit a ...
Oil to average $55 a barrel in 2015 – IEA
Post Date: 2015-02-10 07:29:30 by Tatarewicz
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RT... The International Energy Agency sees oil prices averaging $55 per barrel in 2015. The agency predicts there will be no huge price rises or the supply glut easing. In 2016, Brent prices could increase to $60 per barrel, and recover to $73 by 2020. The International Energy Agency has left the 2015 global demand forecast at 900,000 barrels per day, unchanged from its last report. “The market does not seem to be expecting prices to revisit earlier highs anytime soon. Not only have prompt prices collapsed, even price expectations for the back end of the curve have been significantly downgraded,” the IEA said in its Medium-Term Oil Market Report, published Tuesday. The report ...
China finds sizable natural gas field in South China Sea
Post Date: 2015-02-10 07:09:14 by Tatarewicz
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BEIJING (AP) — China said its recent gas discovery in the politically volatile South China Sea could yield 100 billion cubic meters of natural gas, underlining Beijing's determination to extract resources from waters claimed by several nations. The Lingshui 17-2 gas field was discovered 150 kilometers south of China's southernmost island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find, the official Xinhua News Agency said. It cited the country's main offshore oil and gas producer, China National Offshore Oil Corp. Calls to the company's press office rang unanswered Tuesday. Xizhou Zhou, senior director and head of China for ...
Israelis held 10 billion dollars in secret HSBC offshore accounts
Post Date: 2015-02-10 06:02:58 by Tatarewicz
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Leaked documents gathered by whistleblower and released Sunday show that Israel ranked sixth on list of nations whose citizens held largest amounts of funds in secret offshore Swiss bank accounts. Ynet Israel is ranked sixth on a list of nations whose citizens held the largest amounts of funds in secret offshore Swiss bank accounts belonging to HSBC, with Israelis holding a total of 10 billion dollars in combined accounts. Follow Ynetnews on Facebook and Twitter Documents stolen by a whistleblower in 2007 were leaked on Sunday and detailed how HSBC helped cheat the United Kingdom out of millions of pounds in tax. (Photo: EPA) (Photo: EPA) Switzerland, Britain, Venezuela, the ...
Is Russia Preparing to Move to the Gold Standard?
Post Date: 2015-02-10 05:36:31 by Tatarewicz
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An article by Mises Institute contributor Marcia Christoff-Kurapovna believes that now is the ideal time for Russia to introduce a gold-backed ruble. Mises Institute contributor Marcia Christoff-Kurapovna believes that Russia may be in the process of planning for the introduction of a gold-based currency, and would be better off for it. "Though a far-fetched idea at first glance, many factors suggest that remonetization in gold may be a logical next step for Moscow," Christoff-Kurapovna notes in an analytical article published Friday on the libertarian think tank's website. The columnist notes that several factors may play into the decision, including Russia's recent ...
China executes the head of one of world's largest iron ore manufacturer
Post Date: 2015-02-09 23:05:45 by Tatarewicz
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Pravda.Ru China executed Liu Han, the founder of Hanlong Group, one of the world's leading iron ore manufacturer. According to the South China Morning Post, Liu Han was sentenced to capital punishment in May of last year. He was found guilty on 13 articles of the Criminal Code. Investigation revealed that one of the richest people in China secretly led a major criminal group that was engaged in murder, illegal casinos and arms trafficking. According to RBC, Hanlong Group, which Liu Han founded in 1997 and made it one of the largest suppliers of iron ore in the world, was fined 300 million yuan for providing false information to obtain bank loans. Four of Liu Han's closest ...
The World's Best Known Global Shipping Index has Crashed To Its Lowest Level Ever (Baltic Dry Index)
Post Date: 2015-02-09 10:10:17 by Jethro Tull
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The World's Best Known Global Shipping Index has Crashed To Its Lowest Level Ever Submitted by Tyler Durden on 02/09/2015 09:13 -0500Baltic Dryrecovery lang: en_U Having fallen for 47 of the last 51 days, The Baltic Dry Index (tracking the cost of shipping dry bulk from iron ore to grains) has been collapsing in a well-documented manner by Zero Hedge (though not the mainstream media). With Cramer having told investors of its importance previously, it will be hard to ignore the fact that, as of this morning, the index of global shipping costs has never (ever) been lower at 554. We leave it to readers to decide what they think this means (but we already know what it means ...
Ecuador becomes the first country to roll out its own digital cash
Post Date: 2015-02-08 12:41:54 by Jethro Tull
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Saturday, 7 Feb 2015 | 9:37 AM ETCNBC.comSHARES In 2000, Ecuador moved to ditch its stumbling currency for the U.S. dollar. Now more than 15 years later, the South American country is revamping its monetary system again—using digital currencies. Martin Bernetti | AFP | Getty ImagesA man buys U.S. dollars from a street money changer at the rate of 25,000 sucres to the dollar in Quito, Ecuador, Jan. 11,2000, after the directors of Ecuador's Central Bank approved a plan to dollarize the economy. Ecuador's Sistema de Dinero Electrónico (electronic money system) kicked off in December by allowing qualifying users to set up accounts, and it will ...
China’s Monumental Debt Trap—-Why It Will Rock The Global Economy
Post Date: 2015-02-07 09:07:54 by Ada
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Bloomberg News finally did something useful this morning by publishing some startling graphs from McKinsey’s latest update on the worldwide debt tsunami. If you don’t mind a tad of rounding, the planetary debt total now stands at $200 trillion compared to world GDP of just $70 trillion. Click for Full Text!
Feel That? It’s the Chill of Deflation...
Post Date: 2015-02-04 17:02:57 by BTP Holdings
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Feel That? It’s the Chill of Deflation... by Chris Mayer Chris MayerAn investor who fell asleep in 2011 and woke up this morning would be surprised by what he’d see in the paper. The 10-year U.S. Treasury pays just 1.67%. And oil is $48 a barrel. Since peaking in 2011, commodity prices drift near to chilling lows. As Van Hoisington, who’s been right about a lot of stuff for a long time, writes in his quarterly letter: “Since the commodity index peak in 2011, prices have plummeted. The Reuters/Jefferies/CRB Future Price Index has dropped 39%. The GSCI Nearby Commodity Index is down 48%, with energy (-56%), metals (-36%), copper (-40%), cotton (-73%), WTI crude ...
Chinese swarm for new 10-year US visas
Post Date: 2015-02-04 01:48:12 by Tatarewicz
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China Daily... The number of Chinese citizens receiving the new extended United States B1 business and B2 tourist visas surged in December and January, just a few months after the US and China announced a change to their international visa reciprocity agreement. The US issued 351,650 business and tourist visas to Chinese citizens in December and January, a year-over-year jump of 68.2 percent. At this time last year, the US had given 209,100 visas, a US State Department official said in an interview with the South China Morning Post. During his November visit to Beijing, US President Barack Obama and Chinese President Xi Jinping signed an agreement to extend tourist and business visas to ...
Fixing economy is easy
Post Date: 2015-02-04 01:28:50 by Tatarewicz
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Pravda... The economy is sick. It has grown at an anemic pace of only 2% per year for six years. This is the worst performance of any recovery in American history. For the first time ever in this country more businesses are closing their doors than being created. The majority of American's believe we are on the wrong track and many have given up hope of finding a job, building a business, or reaching their personal goals altogether. When the human body is sick the best cure is rest and fluids. The natural recuperative power of the body to recover takes over. An economy is much like the human body; and that is not surprising since an economy is human in nature. It is made up of ...
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