Argentina accuses U.S. Judge Griesa of "imperialist" attitude

Argentina on Friday accused the U.S. judge who called the country’s debt restructuring plan illegal of making “imperialist” comments against the South American nation. Argentine Cabinet Chief Jorge Capitanich said U.S. District Judge Thomas Griesa’s choice of words were “unfortunate, incorrect and even, I would say, imperialist expressions”. Continue reading on reuters.com

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LATEST NEWS : JPMorgan in talks to buy Argentine holdout bonds, among other options: DJ

JPMorgan is discussing the possibility of buying Argentina’s sovereign debt from a group of dissident bondholders, Dow Jones reported on Thursday, citing sources familiar with the matter. The South American nation is fighting a court decision that determined it must treat all bondholders the same, despite a massive restructuring agreement stemming from its default more than a decade […]

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Look to gold and silver in these uncertain times

The gold and silver prices are still gathering themselves, now that the $1,300 level has been overcome. With a calmer market, traders, speculators and heavy computer trading pushes prices in line with the weakening of the dollar, using the Dollar: Euro relationship as a guide. The developed world sees the dollar’s moves against gold as […]

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Emerging-Market Shakeout Putting Reserves Into Focus: Currencies

Foreign-exchange reserves are emerging as the latest battleground between traders and developing nations trying to stem the worst rout in their currencies since 2008. Nations with the smallest reserves to fend off currency speculators will continue to see their exchange rates under pressure, options prices show. Of the 31 major currencies tracked by Bloomberg, traders […]

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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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World Bank Sees Record Demand for Political Risk Insurance

Investors’ demand for insurance against political risk is on track to match last year’s record as instability persists in the Middle East and disputes in Latin America erode confidence, the World Bank said. Investment insurance for developing economies by a group of the main public, private and multilateral providers reached $45 billion by mid-2013, according to the bank’s Multilateral Investment Guarantee […]

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Argentines Hit With 35% Foreign Credit Card Tax for Holidays

Argentine President Cristina Fernandez de Kirchner increased a tax on credit card purchases abroad ahead of the southern hemisphere summer vacation period to stem a hemorrhaging of reserves to a seven-year low. The government raised a levy on card purchases in foreign currency to 35 percent from 20 percent, according to a resolution published in today’s Official Gazette. […]

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Banca d'Italia says gold reserves key to cenbank independence

“Keeping gold reserves is a key support to central banks’ independence, an official from Banca d’Italia told a bullion industry conference on Monday, dampening talk that it might sell some of its holdings. Speculation has emerged since the financial crisis hit the euro zone that Banca d’Italia might be pressured to leverage or even sell […]

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Gold Now Beginning Its Long-Awaited Ascent…

“As mentioned in last Sunday’s note, technical gold trader Gary Savage indicated a potential “1-2-3 Reversal” was forming in the miners. This week saw that pattern complete and confirm itself. Based on that confirmation, Gary now expects an explosive move higher over the next few months, in which gold should retest the September 2011 highs.” […]

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The Most Profitable Route For Gold And Silver Bugs

“While much information circulates in our community regarding the impetus to buy gold, there is one classical item which could use attention with respect to the value of buying during corrective periods. That item is the power of dollar cost averaging over time. When one creates and reviews a set of dollar cost averaging numbers, […]

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