By David Haggith, The Great Recession Blog The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial systems of all the world’s greatest economies. Central bankers have the unchaperoned power … Continue reading
By Jason Simpkins Six of the world’s central banks (Europe, Denmark, Sweden, Switzerland, Japan, and Hungary) representing 29 countries have taken interest rates negative. They range from -0.05% in Hungary to -1.25% basis points in Sweden. As a result, other countries, plagued by the same low commodities prices and a soft global economy, are now … Continue reading
Members of the Saudi royal family appear to be preparing to go into exile as they are selling as much oil as possible in order to move their petrodollars out of the country. The declining oil price doesn’t matter. Clear signals are coming from the U.S. that the days of the incumbent clans are numbered. In … Continue reading
By Luis E. Juvinao Navarro Argentina recently issued USD $16.5 billion in bonds as part of its re-entry to international markets, the largest issuance registered by an emerging economy. The country’s historical proclivity to economic turmoil, however, suggests that Macri’s political changes might not deliver on financial stability. It has been 15 years of Argentine absence from … Continue reading
Venezuela’s opposition says it has delivered a petition to election authorities calling for a nationwide referendum to remove President Nicolas Maduro from office. The opposition Democratic Unity Roundtable said Monday it has collected 1.85 million signatures, more than nine times the number needed to launch the referendum process. The party blames Maduro’s policies for food … Continue reading
By Marc Chandler, Marc to Market Blog Yesterday, China announced one of the most important tax reforms of the past twenty years. It is replacing a business tax on gross revenue for non-manufacturing companies with a VAT. Manufacturing companies have been subject to a VAT approach for a few years. The reform extends it from manufacturing … Continue reading
By Mike Gleason, Money Metals Exchange Mike Gleason: This is Mike Gleason with Money Metals Exchange. We are fortunate today to be joined by Frank Holmes, CEO and Chief Investment Officer at U.S. Global Investors. In 2006 Mr. Holmes was named Mining Fund Manager Of The Year by the Mining Journal. He is the co-author of … Continue reading
By Egon Von Greyerz, GoldSwitzerland Investors around the world are blissfully ignorant of what will hit them in coming months and years. Virtually no one understands the risks in the world and less than ½% of investors have protected themselves against the destruction of their financial assets. It is of course wonderful to live in Shangri-La … Continue reading
By Pedro García Otero, PanAm Post Following the publication of Sabrina Martin’s article in Panampost, “Looting on the Rise as Venezuela Runs Out of Food, Electricity,” several readers have been asking how Venezuela — a country that in the 60s and 70s was regarded as a future Australia — got so bad. Hundreds of reasons help to answer this question, especially in … Continue reading
By Phoenix Capital Research Are Central Bankers delusional? Over the weekend, Benoît Cœuré, Member of the Executive Board of the ECB, penned a piece defending the ECB’s policies from the criticism that NIRP hurts savers. The first paragraph reveals, quite clearly, just how lost the ECB is regarding the efficacy of its policies. Is the … Continue reading