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Latest Articles: Business/Finance
Bank promotes renminbi as international currency
Post Date: 2014-11-30 03:50:12 by Tatarewicz
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As liberalisation of the use of China’s currency across its borders continues, we believe it is critical to implement a robust RMB strategy as quickly as possible Accelerate your China Strategy: Top reasons to start using the renminbi China’s rapid ascent as a major global economy makes it too big to ignore for international companies around the world. As the manufacturing “workshop of the world”, China plays a critical role in many companies’ global supply chains. Its large and increasingly affluent population also makes the country a key target destination for exporters. The opportunities are huge, but there are also signs that many companies could do more to ...
China to raise oil product consumption tax
Post Date: 2014-11-29 02:55:36 by Tatarewicz
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BEIJING, Nov. 28 (Xinhua) -- China will raise the consumption tax on oil products from Saturday, the first adjustment since the previous increase in 2009, the country's top finance and taxation departments jointly announced Friday. The consumption tax on gasoline will rise from 1 yuan (0.16 U.S. dollar) to 1.12 yuan per liter while that on diesel from 0.8 yuan to 0.94 yuan per liter, according to the Ministry of Finance and the State Administration of Taxation. Poster Comment:Clever move; raise fuel tax while crude price dropping. No one will notice.
News Analysis: Lower oil prices a boon for China's economy
Post Date: 2014-11-29 02:48:26 by Tatarewicz
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BEIJING, Nov. 28 (Xinhua) -- Since China replaced the United States in 2013 as the world's largest net oil importer, falling oil prices have benefited economic development. The Bank of America Merrill Lynch said that for every 10 percent fall in the price of oil China's GDP growth would be boosted by around 0.15 percentage points, lower consumer inflation by around 0.25 percentage points and would improve the current account balance by 0.2 percent of GDP. Oil prices, which have lost a third of their value since June, hit fresh four-year lows on Thursday after the OPEC producer club decided not to cut output despite a huge oversupply in the world market. The benchmark Brent ...
El-Erian: 'When You Have Very Sharp Moves in Currency, Something Breaks'
Post Date: 2014-11-28 15:54:57 by BTP Holdings
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El-Erian: 'When You Have Very Sharp Moves in Currency, Something Breaks' Wednesday, 26 Nov 2014 11:53 AM By Dan Weil The dollar's upward surge may cause problems for stocks, says Mohamed El-Erian, chief economic adviser for Allianz. The greenback hit a seven-year high against the yen and a two-year peak against the euro earlier this month. Divergent central bank policies are fuelling the currency move. While the Federal Reserve has begun pulling back its stimulus, the Bank of Japan and European Central Bank are increasing theirs to boost their flagging economies. "Historically, when you have very sharp moves in the currency [markets], something breaks," El-Erian ...
wierd contract allows Americans to bypass IRS?
Post Date: 2014-11-28 15:28:36 by BTP Holdings
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Check this out: When you sign this special piece of paper, you can retire 100% tax free… Dear Patriot, Do you own one of these papers? My friend Tom calls it a “magic” contract because, once signed, it can let you retire 100% tax free (no matter how much money you have) and lets you bypass the IRS completely. If you haven’t seen this video yet that explains it, I highly recommend it. http://if.inboxfirst.com/ga/clic...385-94e7bc8063-e2e0e28994 All the best, Tim Mittelstaedt Editor-in-Chief, Palm Beach Letter P.S. If you think this is some kind of scam, just take a look at some of the high-profile people who protected their wealth with this special piece of paper: ...
Bob Doll: Brace for Goldilocks Economy - But Is it Just Right?
Post Date: 2014-11-28 15:24:35 by BTP Holdings
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Bob Doll: Brace for Goldilocks Economy - But Is it Just Right? Wednesday, 26 Nov 2014 12:09 PM By John Morgan Wage inflation may seem like a relic of the past. But veteran Wall Street prognosticator Bob Doll sees it ahead as one of the consequences of faster U.S. economic growth, along with some other mostly positive indicators. Doll, chief equity strategist at Nuveen Asset Management, says in his latest weekly commentary that the latest leg up in stocks is because global growth remains solid, other central banks are still easing, and corporate earnings are still beating expectations. However, he said the most recent recovery in stocks to record levels may mean there is limited upside ...
Russia and OPEC: An Unlikely Alliance
Post Date: 2014-11-27 01:48:49 by Tatarewicz
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Sputnick... According to Russia's finance minister Siluanov, Russia is likely to lose 100 billion dollars a year due to the recent drop in oil prices. What can Moscow do about it? An obvious but yet unexplored option is to ally with OPEC to reduce the amount of oil available on the market. Global oil prices continued falling Friday amid a worsening forecast by OPEC on oil demand by 2035 © AP Photo/ Hasan Jamali Global Oil Prices Continue Fall Amid OPEC Forecasts MOSCOW, November 24 (Sputnik), Stanislav Fisher — At first glance, a joint action by Russia and OPEC countries seems to be improbable, but the volatile geopolitical situation makes it possible. OPEC is dominated by ...
14 Reasons Why You Should FORGET About OPEC
Post Date: 2014-11-26 17:18:06 by BTP Holdings
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14 Reasons Why You Should FORGET About OPEC Dear 5 Min. Forecast Reader, Tomorrow is OPEC's big Thanksgiving Day meeting. Will the cartel cut production? Will it open the spigots? Today, I have 14 reasons why you should FORGET about what they do. You see, over the past nine months, one small group of readers has been privy to no less than 14 impressive profit plays. 225% in 81 days… 218% in 71 days… 103% in 36 days… 150% in 34 days… The list goes on. But the reason that I'm telling you this today, ahead of OPEC's next gathering, is because these profit plays have been churning out like clockwork REGARDLESS of whether oil prices go up or down. ...
Peter Schiff to Newsmax TV: US 'Headed to Recession' With More QE, Pricey Oil
Post Date: 2014-11-26 17:14:27 by BTP Holdings
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Peter Schiff to Newsmax TV: US 'Headed to Recession' With More QE, Pricey Oil Tuesday, 25 Nov 2014 04:00 PM By Dan Weil The recent strength of the U.S. economy and the recent weakness of oil prices will soon reverse, Peter Schiff, CEO of Euro Pacific Capital, told Newsmax TV. The economy grew 3.9 percent in the third quarter, and U.S. oil prices settled at a four-year low of $74.09 a barrel Tuesday on the Nymex. "The U.S. economy is headed to a recession, which means we're going to get more QE [quantitative easing], not a rate hike; the dollar is going to turn around; and oil prices are headed back higher," Schiff told "America's Forum" show on ...
El-Erian: 'When You Have Very Sharp Moves in Currency, Something Breaks'
Post Date: 2014-11-26 16:59:15 by BTP Holdings
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El-Erian: 'When You Have Very Sharp Moves in Currency, Something Breaks' Wednesday, 26 Nov 2014 11:53 AM By Dan Weil The dollar's upward surge may cause problems for stocks, says Mohamed El-Erian, chief economic adviser for Allianz. The greenback hit a seven-year high against the yen and a two-year peak against the euro earlier this month. Divergent central bank policies are fuelling the currency move. While the Federal Reserve has begun pulling back its stimulus, the Bank of Japan and European Central Bank are increasing theirs to boost their flagging economies. "Historically, when you have very sharp moves in the currency [markets], something breaks," El-Erian ...
Gundlach: Fed May Raise Rates Next Year 'Just to See What Happens'
Post Date: 2014-11-25 16:33:05 by BTP Holdings
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Gundlach: Fed May Raise Rates Next Year 'Just to See What Happens' Monday, 24 Nov 2014 07:49 PM By Dan Weil Ace bond investor Jeffrey Gundlach, CEO of DoubleLine Capital, expects the Federal Reserve to raise interest rates in 2015, as do many other experts. But many others believe it will be strong economic growth and rising inflation that push the Fed to act. Gundlach offers a different scenario. Inflation won't be high enough to justify a rate hike, he told CNBC. The Federal Reserve has an inflation target of 2 percent. Yet the consumer price index rose only 1.7 percent in the 12 months through October. And the Fed's favored inflation measure, the personal ...
Let the Clean Coal Battle Begin
Post Date: 2014-11-25 16:21:04 by BTP Holdings
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Let the Clean Coal Battle Begin Published Tue, Nov 25, 2014 | Karim Rahemtulla, Chief Resource Analyst Coal Industry Looking to Clean Alternatives I recently wrote about the possibility of a resurgence of coal stocks spurred by new policy backed by the Republican-controlled Congress next term. I reminded readers that coal never really went away. It was – and still is – the most significant single source of power generation in the world. It just has a bad reputation. Of all the fossil fuels, coal is considered the dirtiest as it emits the most carbon dioxide – almost twice as much as natural gas, depending on the type of coal burned. To counteract this, the Republicans ...
Is the dollar dead?
Post Date: 2014-11-25 16:17:36 by BTP Holdings
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Market manipulation of oil prices backfires on those that start it - Putin
Post Date: 2014-11-25 06:19:38 by Tatarewicz
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RT... The modern world is interdependent and there is no guarantee that sanctions, a sharp fall in oil prices, or the depreciation of the ruble won’t backfire on those who provoked them, says Russian President Vladimir Putin. "If undercharging for energy products occurs deliberately, it also hits those who introduce these limitations. Problems arise, they will continue to grow, worsening the situation, and not only for Russia but also for our partners, including oil and gas producing countries," said Putin in an interview to TASS. The Russian leader suggested that the fall in oil prices is due to the sharp increase in the production of shale oil and gas by the United ...
How Government Officials are Using Bank Regulations to Shutdown Industries
Post Date: 2014-11-24 06:36:55 by Ada
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Lew Rockwell, in his important book, Fascism versus Capitalism, argues that the United States rather than having a capitalist economy, at its core has a fascist economy: The state, for the fascist, is the instrument by which the people’s common destiny is realized, and which the potential for greatness is to be found. Individual rights, and the individual himself, are strictly subordinate to the state’s great and glorious goals for the nation. In Rockwell’s view, via fascism, although the means of production are technically owned by the private sector, the rules are set for much of the economy by the government: The reality of bureaucratic administration has been with us ...
World's longest railway' links Madrid and China
Post Date: 2014-11-23 01:16:01 by Tatarewicz
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China launched an 82-wagon cargo train on Tuesday which will take 21 days to travel 10,000km (6,200 miles) and pass through six other countries as it moves goods from the industrial city of Yiwu to the Spanish capital, Madrid. The train, named "Yixinou", left Yiwu, 300km south of Shanghai, and will cross Kazakhstan, Russia, Belarus, Poland, Germany and France before arriving in Spain in December. The total distance covered by the new rail route is greater than that of the world's longest train service, the 9,259km Moscow-Vladivostok Rossinya 002, and five times as long as the route of the famous Orient Express. But unlike on the Russian train, goods on the Yiwu-Madrid ...
DEAD MERGER Now, the $784 Million Aftermath...
Post Date: 2014-11-22 12:06:30 by BTP Holdings
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On the Knife-Edge of Runaway Inflation and Destructive Deflation
Post Date: 2014-11-22 12:02:47 by BTP Holdings
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Today's investment climate is the most challenging one you have ever faced. At least since the late 1970s, perhaps since the 1930s. This is because inflation and deflation are both possibilities in the near term. Most investors can prepare for one or the other, but preparing for both at the same time is far more difficult. The reason for this challenging environment is not difficult to discern. Analysts and talking heads have been wondering for five years why the recovery is not stronger. They keep predicting that stronger growth is right around the corner. Their forecasts have failed year after year and their confusion grows. Perhaps even you, who have seen scores of normal business ...
The Great Crash of 2015
Post Date: 2014-11-22 11:59:43 by BTP Holdings
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A stock market crash bigger than what happened in 2008 and early 2009 is headed our way. In fact, we are predicting this crash will be even more devastating than the 1929 crash... ...the ramifications of which will hit the economy and Americans deeper than anything we've ever seen. Our 28-year-old research firm feels so strongly about this, we've just produced a video to warn investors called, "The Great Crash of 2015." In case you are not familiar with our research work on the stock market: In late 2001, in the aftermath of 9/11, we told our clients to buy small-cap stocks. They rose about 100% after we made that call. We were one of the first major advisors to turn ...
(Switzerland) Central bank chief calls gold proposal 'fatal'
Post Date: 2014-11-21 20:46:34 by X-15
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Swiss National Bank President Thomas Jordan said in interviews given to Le Matin Dimanche and SonntagsZeitung that the popular initiative, to be put to a vote on November 30th, would be “fatal “for the bank. “To combine a fixed quota (for gold) with a ban on selling it would be fatal,” he said. “That would limit the long-term activities of the BNS.” The initiative, backed by members of the right-wing Swiss People’s Party, aims to guarantee the financial independence of Switzerland and ensure the Swiss francs remains strong. The proposal would give the central bank five years to increase its gold reserves from around 7.5 percent of its total assets (1,0 ...
Citigroup's Shawn D. Miller found dead with his throat slit
Post Date: 2014-11-20 08:07:13 by noone222
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Police investigating the death of Citigroup banker Shawn D. Miller, 42 Body was found in the bathtub of his Financial District apartment Tuesday with a laceration to the throat No signs of forced entry and no weapon found at the scene Police suspect foul play Miller was the managing director of Citigroup's environment and social risk management team By Joel Christie for The Mailonline Published: 15:47 EST, 19 November 2014 | Updated: 16:14 EST, 19 November 2014 View comments The global head of Citigroup's environmental and social risk management was found dead in his New York apartment on Tuesday with a laceration to the throat. Gruesome: Citigroup managing director Shawn ...
Russia’s biggest bank launches financing in Chinese yuan
Post Date: 2014-11-20 06:24:58 by Tatarewicz
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RT... Sberbank, Russia’s largest lender, will be the first bank in the country to start issuing credit guarantees denominated in Chinese yuan. The new yuan-based letters of credit ensure payments between buyers and sellers, with the bank acting as a router. This will make payments for import contracts settled in yuan more seamless, the bank said in a statement Tuesday. “An important aspect of these transactions is that post-import financing was attracted in Chinese yuan, which is especially relevant given the existing market environment,” the statement says. “Starting transitions in RMB will allow customers to not only meet current funding requirements and ...
Carl Icahn Expects Major Stocks Correction in Next 3 to 5 Years
Post Date: 2014-11-18 17:37:34 by BTP Holdings
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Carl Icahn Expects Major Stocks Correction in Next 3 to 5 Years Tuesday, 18 Nov 2014 08:15 AM Carl Icahn isn't forecasting a dramatic stock market drop quite yet but the billionaire investor is still bracing for a market sell-off in the next three to five years, he told Reuters. "I am still concerned that one day you'll see a break like you had a few weeks ago," Icahn said at the Reuters Global Investment Outlook Summit in New York, "but it won't come back." With the Standard & Poor's 500 index now up more than 10 percent for the year and trading at 2,041, many investors have put October's short-lived slide behind them, saying low interest ...
Congressional Study Shows Obama's Economy Sucks (surprise?)
Post Date: 2014-11-18 17:28:28 by BTP Holdings
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Congressional Study Shows Obama’s Economy Sucks (surprise?) | From the news story “Duh!” file: the Senate commissions a study about the current state of the economy. The report says that paycheck size, the job market, economic growth have been pathetic, small business is hurting, but Wall Street is doing great. (Hat tip to this story for the information source.) Really?!? This didn’t take a genius to figure out, but maybe we’re expecting too much from a Democratically-controlled legislative body. After all, they’ve repeatedly shown on other issues that facts are less important to them than ideological positions. Or maybe they know on which side their ...
The REAL Reason The Saudis Are Scared…
Post Date: 2014-11-18 17:24:10 by BTP Holdings
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I call it the “Houston Millionaire’s Club.” And just days ago I “broke into” a closed-door meeting about the boom that made their fortune. Near the heart of Houston’s downtown business district, I heard details on a moneymaking opportunity so lucrative, you and I may never see another one like it in our lifetime. It’s a once-per-generation moneymaking opportunity. And we’re not just talking about a little chunk of change, here. This opportunity is minting millionaires. In the next few minutes, I’d like to show you how to tap in to the same lucrative opportunity. With quick-strike, profit-gushing plays that could triple your money. And ...
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