Gold climbs before Fed as EM fears grow

Investors also braced for a potential paring of the Federal Reserve’s bond-buying program. Gold for February delivery GCG4 +1.19% rose $15.90, or 1.3%, to $1,266.80 an ounce on the Comex division of the New York Mercantile Exchange. April gold GCJ4 +1.19% , which is also among the most-active contracts, traded at $1,266.50 an ounce, up $16, or 1.3%. March silver SIH4 +1.16%  added 20 […]

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"The Government Comes Up With the Money"

I’m half-heartedly watching the State of the Union address right now. What a cynic I’ve become. My younger self would be shocked and saddened to learn how I’ve come to view these annual addresses as little more than a game of charades. The President (not just Obama, but his predecessors, too) reads a carefully and […]

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Why Are Banking Executives In London Killing Themselves?

Bankers committing suicide by jumping from the rooftops of their own banks is something that we think of when we think of the Great Depression.  Well, it just happened in London, England.  A vice president at JPMorgan’s European headquarters in London plunged to his death after jumping from the top of the 33rd floor.  He […]

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Bernanke’s Unprecedented Rescue Unlikely to Be Repeated

As Federal Reserve Chairman Ben S. Bernanke shuts the door to his office for a final time in two days, he can say he took actions that were the first or the biggest of their kind in the central bank’s 100-year history. Some will probably also be the last. Bernanke was the first to devise a monetary […]

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US Major Markets Will Implode If Emerging Markets Implode

Analysis: Emerging markets as vulnerable to contagion as ever (Reuters) – Emerging markets may be unrecognizable from the small and fragile economies that fell like dominoes 15 years ago, but they are just as vulnerable today to the same sort of indiscriminate selling when investor panic sets in. continue reading at boston-massachusetts.us

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Gold Flows East as Bars Recast for Chinese Defying Slump

Gold’s biggest slump in three decades has been a boon for MKS (Switzerland) SA’s PAMP refinery near the Italian border in Castel San Pietro, whose bullion sales to China surged to a record as demand rose for coins, bars and jewelry. As prices plunged 28 percent in 2013, investors dumped a record 869.1 metric tons from gold-backed […]

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China’s Rescue of Troubled Trust May Stoke Risk-Taking

China’s eleventh-hour rescue of wealthy investors in a high-yield trust threatens to drive more money into the nation’s $6 trillion shadow-banking industry, undermining regulators’ efforts to deter excessive risk-taking. Industrial & Commercial Bank of China Ltd., the nation’s largest lender, yesterday told customers who had invested in the 3 billion-yuan ($496 million) trust product that they […]

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RBS Poised for Biggest Loss Since Crisis on Mortgages Provision

Britain’s biggest government-owned lender, is on track for its largest pretax loss since 2008 after setting aside 3.1 billion pounds more ($5.1 billion) for legal and compensation claims. The provision includes 1.9 billion pounds for lawsuits and fines tied mostly to the sale of $91 billion of mortgage-backed securities from 2005 to 2007, the lender […]

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Davos Crowd Uneasy as Long-Term Risks Replace Crisis Response

For the first time in seven years, the business and political elite gathered in Davos, Switzerland last week were able to focus on long-term challenges rather than short-term economic crisis. That didn’t make them less nervous. Delegates at the World Economic Forum’s annual meeting departed anxious about the risk to future prosperity caused by high […]

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IMF warns Fed could worsen markets rout

“The currency and equity rout across emerging markets over recent days is in danger of escalating as the US Federal Reserve turns off the spigot of global dollar liquidity, the International Monetary Fund has warned. Christine Lagarde, the IMF’s managing director, said spill-over effects from Fed bond tapering could destabilize vulnerable countries that have failed […]

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