Yearly Archives: 2013

Tax Haven Reputation Plagues Planned EU Bailout of Cyprus

"The euro rescuers face a dilemma. On the one hand, they want to prevent the country from going bankrupt. On the other hand, they lack the support of a majority of member states for an aid program that would mostly benefit rich Russian tax fugitives. The tricky situation is prompting European leaders to do what they always do when a crisis comes to a head: play for time. Until now, someone who wanted a safe haven for his money could simply take a plane to Nicosia, because the country is an EU member and yet is lax when it comes to financial regulation, say German investigators." Continue reading →

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The Fed’s Bailout Of Europe Continues With Record $237 Billion Injected Into Foreign Banks In Past Month

"In the past 4 weeks, the Fed has injected a record $237 billion of cash into foreign banks with access to the Fed's excess reserves: a number greater than both the cash influx surge seen after the Lehman collapse, and faster and more acute than the massive build up of cash during the spring and summer of 2011 when all the Fed's brand new QE2 cash was once again, solely used to overfund European bank cash." Continue reading →

Continue ReadingThe Fed’s Bailout Of Europe Continues With Record $237 Billion Injected Into Foreign Banks In Past Month

Tear gas, water cannons as Egyptians throw stones at presidential palace

"The clashes broke out after several hundred demonstrators marched to the palace on a day of marches against Egyptian President Mohamed Morsi. Thousands of other protesters took part in separate demonstrations across the country. Protesters are demanding that Morsi fulfill the goals of the revolution which brought him and his Muslim Brotherhood party to power. Those demands include a new unity government, amendments to an Islamist-drafted constitution, and the sacking of Egypt's prosecutor general. The demonstrators are also angry that no one has been held accountable for the deaths of dozens of protesters in clashes with police during recent months." Continue reading →

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Greeks strip country for scrap cash

"Train lines, bridges, cables and even cemeteries have all been targeted for scrap to feed a market driven by China and India. Police now arrest an average of four metal thieves every day, compared to a few cases every month before the crisis started in late 2009. The profile of the metal thief is also changing, authorities say, from gypsies and immigrants living on the margins of society to mainstream Greeks who have fallen on hard times. Athens' nine-year-old light rail system has been a prime magnet for metal robbers, with at least five major disruptions reported in the past six months due to cable theft." Continue reading →

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Venezuelan devaluation sparks panic buying

"Panic buyers thronged Venezuelan shops over the carnival weekend after the government of Hugo Chavez announced a surprise devaluation. Domestic appliances such as fridges and cookers were in particularly high demand as Venezuelans snapped up goods imported at the now-defunct exchange rate of 4.3 bolívars per dollar. From now on they will be imported at 6.3 bolívars per dollar. Opposition politicians seized on what is Venezuela's fifth devaluation since strict currency controls were introduced in 2003, criticising the socialist government for quietly announcing it on Friday while people headed for the beach over the holiday." Continue reading →

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*BREAKING* ObamaCare Vote Imminent!

We have learned that the 30.9 million of Federal money being offered to Michigan to fund the Health Care Exchange (referenced in our Jan. 29th “2013 Obama Care in MI and More! article) could see a Committee vote anytime! Grassroots in Michigan joined with other activists from across the state has issued a Press Release …

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Yahoo, Dell Swell Netherlands’ $13 Trillion Tax Haven

"The Netherlands, in the heart of a continent better known for social welfare than corporate welfare, has emerged as one of the most important tax havens for multinational companies. Now, as a deficit-strapped Europe raises retirement ages and taxes on the working class, the Netherlands’ role as a $13 trillion relay station on the global tax-avoiding network is prompting a backlash. The Dutch Parliament is scheduled to debate the fairness of its tax system today. Lawmakers from several parties, including members of the country’s governing coalition, say they want to remove a stain on the nation’s reputation." Continue reading →

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European central banks to shun fresh gold sales limits

"The amount of gold the region's central banks can sell in any given period has been capped by a series of Central Bank Gold Agreements (CBGAs) since 1999, after a spate of disposals by the official sector, including a 395-tonne tonne sale by the Bank of England, shook up the bullion market. Prices are more than five times higher than they were when the first CBGA was signed by 15 central banks, including those of Germany, Italy and France as well as the European Central Bank, in 1999. That limited sales to 400 tonnes of gold per year, for a five-year period. Signatories struggled to stay within those limits." Continue reading →

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Bipolar Silver: How to Profit

"Most precious-metals investors know that silver is more volatile than gold. But do they know just how big that difference really is? We thought it would be interesting to measure how much greater silver's daily moves are – both in gains and declines – than gold. We documented the daily price movements for both metals, and then calculated the difference using absolute values." Continue reading →

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Gold ETFs in India touch 40 tonne (40,000 kilo)

"The government's import restrictions are hurting the populace. The only organisation not worried, as of now, are gold backed exchange traded funds. Worried investors are veering towards the country’s 14 gold exchange traded funds (ETFs), which together have garnered 40,000 kilo of the precious metal. Gold ETFs debuted in India about six years ago. The first gold ETF launched in 2007 by Benchmark Mutual Fund (now Goldman Sachs) was followed by 13 others in quick succession. The 14 mutual fund houses present in this segment are managing gold assets worth nearly $2.2 billion (Rs 120 billion)." Continue reading →

Continue ReadingGold ETFs in India touch 40 tonne (40,000 kilo)