Eurozone M3 money plunge flashes deflation alert for 2014

Eurozone money supply growth plummeted in October and loans to firms contracted at a record rate, heightening the risk of a stalled recovery and Japanese-style deflation next year. The European Central Bank said M3 money growth fell to 1.4pc from a year earlier, lower than expected and far below the bank’s own 4.5pc target deemed […]

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Where Is the Global Economy Heading?

MR. WESSEL: A couple of years ago, one would have said that the developed world was faltering, and thank God for the emerging markets. They were providing the global demand. We in countries like the U.S. and Europe were going to be less and less relevant.  continue reading at online.wsj.com

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Bitcoin is a bubble, but let's see what it does post-crash

There has been a lot said regarding Bitcoin in recent months. Bitcoin is not alone among cyberspace currencies but it is the one which, pardon the pun, seems to be gaining currency. Indeed, that has developed to the point where experts are not only beginning to take the virtual monetary system seriously, but also to say that, among […]

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Analysis: Surfing central banks in a benign 'QE trap'

(Reuters) – The message is sinking in – economies of the rich world face super-easy money far into the future and central banks are now convinced it’s the least of all policy evils. Despite rumblings of dissent about the financial bubbles and iniquities associated with zero interest rates and money printing, 2013 is ending with a remarkable […]

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The Last “Hard Money” President

I never met President John F. Kennedy. I was all of 5 years old when the man was elected U.S. president in 1960. I was eight years old when he died in 1963, 50 years ago. I saw President Kennedy one time. It was 1962, I believe. I was about 7 years old. Kennedy was […]

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China Gold Imports From Hong Kong Rise on Stockpiling

Gold shipments to China from Hong Kong rose in October to the second-highest on record as jewelers and retailers bought the metal to build up inventories ahead of a peak-demand season at the end of the year. Net imports, after deducting flows from China into Hong Kong, were 129.9 metric tons in October, from 109.4 tons in […]

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German watchdog starts probe into gold price-fixing: report

(Reuters) – Germany’s financial watchdog BaFin has started a probe into suspected manipulation of benchmark gold and silver prices by banks, the Wall Street Journal Deutschland website reported on Tuesday. Regulators across the globe have increased oversight of the financial sector, and banks’ reputations have been battered by a series of scandals, including trying to manipulate […]

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Fed Reveals New Concerns About Long-Term U.S. Slowdown

Federal Reserve Chairman Ben S. Bernanke and his colleagues are suffering through their own form of cognitive dissonance: revealing new concerns about the economy’s long-term prospects even as they forecast faster growth in 2014. Worker productivity, a key component of an economy’s health, has risen at an annual clip of 1 percent during the last four years, […]

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UK liable for Scotland’s banks in a future crisis

Taxpayers in the rest of Britain would be forced to bail out Scottish banks in the event of future crises, under independence plans published on Tuesday. The Bank of England would become the lender of last resort for an independent Scotland, the Scottish Nationalist Party announced in its long-awaited White Paper. As a result, both […]

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RBS faces criminal probe of small business allegations

The Serious Fraud Office is considering a criminal investigation into allegations of wrongdoing at the Royal Bank of Scotland’s global restructuring group, after claims the lender was forcing small companies out of business. The SFO is in the early stages of assessing whether there was any criminal activity and has not yet progressed to a […]

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