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Latest Articles: Business/Finance
Peter Coyne, wondering if the giantocracy can still grow...
Post Date: 2013-11-05 19:31:36 by BTP Holdings
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Peter Coyne, wondering if the giantocracy can still grow... Stocks were mostly down today. Gold dropped $7, hitting a low of $1,307. Meanwhile, the Fed's balance sheet approaches $4 trillion -- a quarter of the size of U.S. GDP. At the same time, sustainable growth and employment are MIA as they have been for five years. We're starting to think both are long dead. But the Fed is still keeping hopeful watch. "If you look at the size of the balance sheet relative to GDP, who's got the biggest one, Japan, Europe, U.K., U.S.?" asked St. Louis Fed President James Bullard yesterday on CNBC. "We're fourth out of those guys. If something bad is going to happen… ...
David Morgan Interview - Silver Summit - Spokane, Washington
Post Date: 2013-11-05 07:30:11 by BTP Holdings
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Commentary: China's high-speed rail ready for export
Post Date: 2013-11-04 21:54:50 by Tatarewicz
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BEIJING, Nov. 4 (Xinhua) -- Switzerland is known for exporting fine watches, while the most sophisticated machinery is believed to be found in Germany, but when it comes to a pleasant trip on a safe, comfortable high-speed train, the world is turning its eyes to China. The high-speed train has raced along Chinese rails for about five years, on a journey from controversy to kudos. Now, based on years of technical advancement and time-tested practice, it is poised to flex its global muscles and pick up some international passengers. During his state visit last month, Chinese Premier Li Keqiang gave China's high-speed railway technology the hard sell in Thailand, supported by an ...
News Analysis: Is U.S. right in criticising German economic model?
Post Date: 2013-11-04 21:43:36 by Tatarewicz
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VIENNA, Nov. 4 (Xinhua) -- Last week, U.S. Treasury Secretary Jacob Lew heavily criticized Germany's economic performance. In a report to congress, Germany is accused of provoking deflationary distortions in the world economy by relying too much on exports, while its domestic demand was "anaemic." This led to a huge surplus on its current account, balance of an economy's exports over imports of goods and services. By flooding foreign markets with its own goods and buying much less from other countries, so the criticism goes, Germany would hamper the necessary adjustment of trade flows and GDP growth, not only in the euro area, but in the world economy at large. This ...
Rude Trends (BitCoin)
Post Date: 2013-11-04 20:24:06 by BTP Holdings
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Rude Trends When to Buy... When to Sell "Why do you keep reporting on Bitcoin?" asks a curious reader. "Do you really think this is the currency of the future?" I have no idea if Bitcoin will become a "legitimate" currency anytime soon-- or ever, for that matter. I'm not even sure if that's the goal of whoever created it. Heck, no one really even knows who got the ball rolling for Bitcoin in the first place… But that's not the point. Bitcoin is a radical idea. It's attracting a lot of attention from some pretty smart people. And its price action has been wild and crazy for months. Just this year, the price of a Bitcoin has vaulted ...
Chip designers see dollar signs in Bitcoin miners
Post Date: 2013-11-04 04:49:55 by Tatarewicz
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SUNNYVALE, California (Reuters) - Tucked away in an air conditioned data center in Silicon Valley is a hodgepodge of black boxes, circuit boards and cooling fans owned by 27-year-old Aaron Jackson-Wilde, a modern-day prospector looking for Bitcoins. Since discovering the digital currency a few months ago, Jackson-Wilde has paid about $2,000 for his "rigs," which are powered by specialized computer chips. They are designed to help operate and maintain the Bitcoin network - and, in return, generate a small reward in a process known as "Bitcoin mining." A form of electronic money independent of traditional banking, Bitcoins started circulating in 2009 and have since ...
PA's Natural Gas Boom
Post Date: 2013-11-03 12:10:38 by Lod
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Details at URL
Islamic Finance Comes West
Post Date: 2013-11-03 08:24:56 by Ada
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There is an atmosphere of foreboding upon the world stage that may account for the bitcoin’s steady rise against the dollar. BTC closed at $213.5 on November 1, up from $130 exactly four weeks ago. And this week, the world’s first bitcoin ATM opened for business in Vancouver. And the currency is still cheap, at least if you see it as the new gold. The beauty is that nobody can charge you for investment advice regarding the bitcoin; instead, you have to make do with scatterbrained prophecies such as these. Yet as long as elements of foreboding linger in today’s world, bitcoin will have its uses. It’s a lot easier to transport than gold, too. Far from being an ...
Something to Share<brHow the World Really Works<br>Four Horseman
Post Date: 2013-11-03 01:34:39 by Hmmmmm
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Poster Comment:People are awful forgiving, they just don't understand what's been done to them.
Taobao opens China's first e-commerce funds platform
Post Date: 2013-11-02 00:37:09 by Tatarewicz
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HANGZHOU, Nov. 1 (Xinhua) -- Chinese e-commerce giant Alibaba Group took a major step into Internet finance on Friday by starting funds sales on its popular online shopping platform Taobao. Taobao, China's leading online retail platform, received a no-action letter from the China Securities Regulatory Commission on Thursday for its funds business, according to the Alibaba Group. That makes it China's first Internet company to provide services for funds sales institutions. Alipay, also run by Alibaba, will provide third-party payment services for the online funds sales. On Friday, the first batch of 17 funds institutions, including Guotai AMC, E Fund and Aegon-Industrial Fund, ...
China Construction Bank buys Brazil's BIC
Post Date: 2013-11-01 22:45:26 by Tatarewicz
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BEIJING, Nov. 1 (Xinhua) -- China Construction Bank, one of China's big four lenders, said Friday that it had entered into a share purchase and sale agreement with Brazil's bank BIC to acquire BIC's controlling stake for 1.6 billion Brazilian Reais (720 million U.S. dollars). In a statement filed to the Hong Kong and Shanghai stock exchanges, China Construction Bank said it had agreed to buy 157.4 million ordinary shares and 24.7 million preferred shares issued by BIC, by which it would hold 72 percent of BIC's total shares upon completion of the transaction. China Construction Bank didn't disclose the purchasing price of BIC's single share. But BIC, in its ...
LA Times: Federal Reserve May Be Headed for a Taxpayer Bailout
Post Date: 2013-11-01 18:27:18 by BTP Holdings
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LA Times: Federal Reserve May Be Headed for a Taxpayer Bailout Friday, 01 Nov 2013 08:38 AM By John Morgan The Federal Reserve has been priming the pump, manning the printing presses, spiking the punch and otherwise driving up the U.S. stimulus tab with abandon since the 2008 financial meltdown, perhaps exhausting fresh metaphors with its open-wallet policies. But what happens when the bill comes due, especially if rates — and thus government debt — go up unexpectedly? According to the Los Angeles Times, the Fed's debt has grown to such epic proportions, nearing a boggling $4 trillion, that it may need eventually need a taxpayer bailout. (Talk about too big to fail!) ...
Pipelines vs Trains for shipping oil
Post Date: 2013-10-31 04:42:28 by Tatarewicz
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What are those “Movable Pipelines” that might hand us “a small fortune?” Sniffing out answers to the teaser ad from Brett Owens for his Contrarian Advantage Want to know what those “Movable Pipelines” are that are being teased by the folks at Contrarian Profits? So did we … here’s how they teased the idea in their recent ad: “The $5.8 Billion Reason the U.S. Government May Never Approve Another Pipeline… “So much American oil is flowing out of the ground there aren’t enough pipelines to move it all. And the government takes years to approve more construction. Fed up, Big Oil is increasingly turning to a new, more lucrative way ...
China to open energy sector to private capital
Post Date: 2013-10-30 23:20:48 by Tatarewicz
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BEIJING, Oct. 30 (Xinhua) -- Monopolies in China's energy sector are coming to end, with more private capital to be allowed to exploit oil and gas resources. Reforms will no longer stress state-ownership, but will focus on competence and willingness to carry out national industrial policy, said Wang Zhen, deputy director of the institute of energy strategy at the China University of Petroleum. Reform will prioritize the needs of the whole oil refining industry, Wang told Wednesday's China Securities Journal. Zhong Jian, analyst with market information supplier CBI China, expects increased imports of refined oil products, allowing more private investors into the business. ...
Beijing to construct 6 new subway lines
Post Date: 2013-10-30 23:05:53 by Tatarewicz
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BEIJING, Oct. 29 (Xinhua) -- Construction of six new subway lines in Beijing is expected to start by the end of this year to help ease traffic in the Chinese capital. The six lines, with a total length of more than 90 km, are expected to be operational by the end of 2016, bringing the city's total track length to more than 600 km, according to the Beijing City Subway Construction Management Company on Tuesday. They include downtown lines and lines linking suburban areas with the downtown. Currently there are 17 subway lines running in Beijing with a total length of 456 km. The city's subway system carries approximately 10 million passengers daily on workdays. Editor: Zhu ...
John Hussman: Don't Believe Fed Policy Is a Magic Solution
Post Date: 2013-10-30 21:36:16 by BTP Holdings
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John Hussman: Don't Believe Fed Policy Is a Magic Solution Tuesday, 29 Oct 2013 08:10 AM By John Morgan The "Grand Superstition" of our time is that Federal Reserve policy ended the financial crisis and sent the stock market higher, and that unfounded belief is bound to be discredited by a dramatic financial downdraft, according to investment manager John Hussman, president of Hussman Funds. In his weekly market commentary, Hussman said the financial crisis actually ended on March 16, 2009 — the very day the Financial Accounting Standards Board (FASB) bowed to Congressional pressure and abandoned mark-to-market accounting rules. With the end of mark-to-market ...
Fed to Maintain Aggressive Policy Stimulus Amid Soft Data
Post Date: 2013-10-30 20:43:29 by BTP Holdings
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Fed to Maintain Aggressive Policy Stimulus Amid Soft Data Wednesday, 30 Oct 2013 07:08 AM The Federal Reserve is expected to maintain its massive bond-buying campaign when it concludes a two-day meeting on Wednesday and may point to softer readings on the U.S. economy to signal that the policy will be extended into 2014. The central bank, which will announce its policy decision at 2 p.m., has held interest rates near zero since late 2008 and has quadrupled the size of its balance sheet to more than $3.7 trillion through three rounds of bond buying. The purchases are aimed at holding down longer-term borrowing costs. It shocked markets in September by opting to keep buying bonds at an ...
The Assault on Integrity
Post Date: 2013-10-30 19:33:09 by BTP Holdings
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The Assault on Integrity by Young Al Greenspan Protection of the consumer against "dishonest and unscrupulous business practices" has become a cardinal ingredient of welfare statism. Left to their own devices, it is alleged, businessmen would attempt to sell unsafe food and drugs, fraudulent securities and shoddy buildings. Thus, it is argued, the Pure Food and Drug Administration, the Securities and Exchange Commission and the numerous building regulatory agencies are indispensable if the consumer is to be protected from the "greed" of the businessman. But it is precisely the "greed" of the businessman or, more appropriately, his profit-seeking, which is ...
Bitcoin goes mainstream with ATM in Vancouver coffee shop
Post Date: 2013-10-30 01:32:27 by Tatarewicz
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VANCOUVER (Reuters) - A silver and blue ATM, perched up next to the espresso bar in a trendy Vancouver coffee shop, could launch a new era for the digital currency bitcoin, offering an almost instant way to exchange the world's leading virtual money for cash. The value of a bitcoin soared from $13 in January to a high of $266 in April as more businesses and consumers used them to buy and sell online. Some investors are also treating bitcoins like gold, using them to hedge against currency fluctuations and speculating on their rise. The kiosk, which looks like the average ATM but with hand and barcode scanners, opened for business on Tuesday and by mid-morning people were lined up to ...
Strategists: Beware Global Currency Fallout From the 'Fragile 5'
Post Date: 2013-10-27 17:56:44 by BTP Holdings
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Strategists: Beware Global Currency Fallout From the 'Fragile 5' Friday, 25 Oct 2013 09:58 AM By John Morgan A shaky group of emerging markets could spark a financial train wreck that might lead to international currency turmoil, according to CNBC. Alan Ruskin, global macro strategist at Deutsche Bank, warned of an economic chain reaction from problems in five countries — the so-called "Fragile Five" of Brazil, Indonesia, India, Turkey and South Africa. He told CNBC "global contagion" could be on the way from those countries as a result of shrinking foreign investment in their economies, slower exports and weak economic growth. All of those factors ...
Algeria announces major oil discovery
Post Date: 2013-10-27 03:23:28 by Tatarewicz
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ALGIERS, Algeria (AP) – Algeria’s energy minister says a new oil field containing an estimated 1.3 billion barrels has been discovered. Youcef Yousfi told the state news agency Saturday that the discovery near the large oil fields in the southern region of Hassi Messaoud is one of the most important in the last 20 years. Repsol: North Africa is world’s next big shale prospect He added the state oil company, Sonatrach, will rely on unconventional techniques to extract 50 percent of the reserves, including hydraulic fracturing, also known as fracking. The field will be exploited in the next three to four years following the necessary studies, the report added. Algeria, ...
25 Stats That Prove That The American Dream Is Being Systematically Destroyed
Post Date: 2013-10-25 07:12:57 by Ada
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The 25 statistics that you are about to read are solid proof that the middle class in America is being systematically wiped out. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world. It seemed like almost everyone owned a home, had a couple of nice vehicles and could provide a very comfortable lifestyle for their families. Sadly, that has all changed. In America today, prices are rising at a very brisk pace but incomes are not. There aren’t nearly enough jobs for everyone anymore, and most of the jobs that are being “created” are jobs that pay very little. The largest employer in America is Wal-Mart, and the second ...
How to Take Your Money Out Of The Bank Without Going To Prison
Post Date: 2013-10-25 06:24:40 by Ada
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You could find yourself in this crowd if you don't act soon The banking industry is in absolute chaos as their criminality is being exposed for the entire world to see. It is now widely known that the derivatives debt is over $1 quadrillion dollars and some of the rank and file in this country are concerned that their bank accounts, 401Ks, IRAs and pensions will be confiscated by desperate, tier two bankers, who are forestalling the inevitable currency collapse by stealing your money. The time to have taken your money out of the bank was yesterday. There is very little time before the IMF’s plan to steal 10%, for starters, of all bank accounts in Europe. JPMorgan Chase is ...
Showdown at Quantum Dawn
Post Date: 2013-10-24 07:43:55 by BTP Holdings
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Showdown at Quantum Dawn October 23, 2013 •Wall Street’s cyberattack dry run… and how the NSA hopes to hijack it •Following the money to the next wave of cybersecurity profits •“Antichrist” Guenthner sees gold making a turn up •Chuck Butler on why the euro’s winning the currency beauty contest •The advent of “brobamacare”… the ha-ha-got-you-to-click trick… when analogies fail miserably… and more! The exercise had an awesome name, inspired by the movies: “Quantum Dawn 2.” On July 18, scads of U.S. banks, stock exchanges and government agencies took part in a digital fire drill — a practice run in ...
Angolan state oil firm Sonangol to open trading office in China
Post Date: 2013-10-23 03:42:34 by Tatarewicz
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LUANDA (Reuters) - Angolan state oil firm Sonangol plans to open its fourth international trading office in China, the country's top crude export destination, Chief Executive Francisco Lemos Jose Maria said on Monday. Angola, which is Africa's second-largest oil producer after Nigeria, sold almost half its crude to China last year. Asia has become Angola's main market, with India also overtaking the United States - once the top buyer - as the second-biggest importer of Angolan oil in 2012. "We have three trading offices, selling crude oil, gas and liquefied petroleum gas in America (Houston), the United Kingdom (London) and Singapore, and we are about to establish in ...
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