Austrian Mint Increases Gold Sales as Price Slump Spurs Demand

“Muenze Oesterreich AG, the Austrian mint that makes Philharmonic coins, increased sales this year after tumbling gold prices fueled demand. Sales of gold coins from January to July rose 79 percent from a year earlier to 383,500 ounces, according to data e-mailed by the Vienna-based mint, almost matching those for the whole of last year […]

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Syria, emerging-market crisis will stop the taper

“The trouble is, the story is not working out the way it was meant to. Already the threat of an end to QE in the U.S. had started to create a crisis in the emerging markets. Now the threat of military action in Syria will intensify the downward spiral. That is going to spread to […]

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Revised Q2 GDP Surges To 2.5% On Trade Boost Even As Consumption And Fixed Investment Deteriorate By Tyler Durden

“On the surface, the just printed revised Q2 GDP number was great: following a preliminary print of 1.7%, the just revised number of 2.5% (beating expectations of 2.2%), up from 1.1% in Q1, should make everyone happy (well not the market which desperately need bad news to go higher). However, as usual, the real news […]

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Initial Claims Drop Following Last Week's California Surge

“Initial claims continues its saw-tooth shallow trend lower with a drop of 6,000 this week, very slightly beating expectations. The previous week’s ‘miss’ and unexpected rise was due to a surge of 51,000 new claims in California. It would seem clear that firms have reached a cost-cutting maximum as claims have been in a generally […]

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Singapore dollar: the next currency to fall?

“Even the Singapore dollar, underpinned by a robust economy, has failed to escape the pressure facing its regional peers. The currency has fallen more than 2 percent against the U.S. dollar from a two-month high hit just over two weeks ago, raising the question of whether it may play catch up with neighboring emerging-market currencies […]

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Russia sends warships to Mediterranean as Syria tension rises

“Interfax quoted a source in the armed forces’ general staff as saying Russia, Syria’s most powerful ally, was deploying a missile cruiser from the Black Sea Fleet and a large anti-submarine ship from the Northern Fleet in the “coming days”. Any strengthening of the navy’s presence could fuel tension, especially as the United States has […]

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China warns against Syria attacks as US and Britain debate air strikes

“Chinese state media warned the West against strikes on Syria on Thursday as momentum mounted for President Bashar al-Assad’s regime to be punished over an alleged chemical weapons attack. In an editorial headed “No excuse for strikes”, the state-run China Daily said the US and its Western allies were “acting as judge, jury and executioner”. […]

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Why It's a Mistake to Ignore Russia

“The White House’s decision earlier this month to call off a Moscow summit with Vladimir Putin, but not President Obama’s trip next week to a Putin-hosted meeting of the G-20 in St. Petersburg, occasioned a rare burst of bipartisan agreement. In Washington, there’s a spreading trope that the Russian leader is making himself irrelevant and […]

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Will War With Syria Cause The Price Of Oil To Explode Higher?

“Are you ready to pay four, five or possibly even six dollars for a gallon of gasoline?  War has consequences, and a conflict with Syria has the potential to escalate wildly out of control very rapidly.  The Obama administration is pledging that the upcoming attack on Syria will be “brief and limited” and that the […]

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Financial Times: "World Is Doomed To An Endless Cycle Of Bubble, Financial Crisis And Currency Collapse"

“It’s funny: nearly five years ago, when we first started, and said that the world is doomed to an endless cycle of bubble, financial crisis and currency collapse as long as the Fed is around, most people laughed: after all they had very serious reputations aligned with a broken and terminally disintegrating economic lie. With […]

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