China-Dumps-Dollars Hoax Not So Funny

“You have to love a hacker who can annoy China, America and Japan and prompt an existential debate about the state of the global economy — all with just 140 characters. Whoever got into CNN’s Twitter and Facebook accounts today sure did make the most of the opportunity. Before they were hastily deleted, postings said that […]

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Gold Bulls Boost Bets Amid Longest Rally Since 2012: Commodities

“Hedge funds got more bullish on gold for a fourth straight week before prices capped the longest rally in 16 months on mounting global growth concerns. The net-long position in gold climbed 0.2 percent to 43,353 futures and options in the week ended Jan. 21, U.S. Commodity Futures Trading Commission data show. Long wagers declined 0.2 percent, […]

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Gold Declines From Two-Month High as Investors Weigh Stimulus

“Gold retreated from the highest level in two months as some investors deemed the rally as excessive on speculation that the U.S. Federal Reserve will further reduce monetary stimulus at a policy meeting this week. Bullion for immediate delivery fell 0.2 percent to $1,268.14 an ounce at 4:15 p.m. in Singapore, after rising as much as […]

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Gold Mint Runs Overtime in Race to Meet World Coin Demand

“Austria’s mint is running 24 hours a day as global mints from the U.S. toAustralia report climbing demand for gold coins even while Goldman Sachs Group Inc. says this year’s price rebound will end. Austria’s Muenze Oesterreich AG mint hired extra employees and added a third eight-hour shift to the day in a bid to keep up […]

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Americans Can Still Benefit from Tax Havens

You are technically a slave when 100% of the fruits of your labor is taxed or otherwise confiscated by force. So, at what percentage are you not a slave? When you consider the totality of the countless direct and indirect taxes on the local, state, and federal levels, as well as the pernicious effects of inflation, the […]

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Argentina Seen Extending World’s Biggest Currency Decline

Argentina’s peso is poised to extend losses  government said it will relax controls on the currency, a day after allowing the biggest devaluation since 2002 to arrest a decline in foreign reserves.  Argentines will be able to buy dollars for savings in proportion to their income, Cabinet Chief Jorge Capitanich said today in Buenos Aires. The […]

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Turkish lira tumbles to new low against the dollar

The Turkish lira slid to yet another record low against the U.S. dollar on Thursday, marking the ninth-straight session of losses. The dollar USDTRY +1.94% jumped 1.4% to 2.2945 lira in recent trade from 2.2615 lira late Wednesday, according to FactSet data. The dollar rose as high as 2.3045 lira intraday. For the month, the greenback has surged […]

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The Fed's Solution to Income Stagnation: Make Everyone a Speculator

The elimination of low-risk interest income in favor of risky speculative credit/asset bubbles has led to a monumental misallocation of capital and the institutionalization of perverse and highly corrosive incentives. The stagnation afflicting advanced economies has several fundamental causes. 1. The dynamic between rising productivity, higher labor costs and technology replacing human labor has shifted […]

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Gold sets fifth straight weekly gain; ends $1,264

Gold settled higher on Friday as the dollar whipsawed and a global flight from emerging market assets set global stock markets on course for their worst week so far in 2014. The U.S. currency remained wobbly after registering its biggest one-day drop in three months on Thursday. Spot gold hovered near $1,265 an ounce, retreating after […]

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All that Glitters Shouldn't Be Fixed

All that glitters: Century-old gold benchmark faces overhaul … Gold-fixing refers to a ritual dating back to 1919 in which banks speak by phone from a couple of minutes to more than an hour about buying and selling gold. … Banks are considering an overhaul of London’s century-old gold benchmark used by miners, jewellers and […]

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