Alternative News

Paul Krugman’s Great Forecasting Failure: Argentina

"This is what Krugman wrote in May sandwiched in between my April and June warnings: 'Matt Yglesias, who just spent time in Argentina, writes about the lessons of that country’s recovery following its exit from the one-peso-one-dollar 'convertibility law'. As he says, it’s a remarkable success story, one that arguably holds lessons for the euro zone.' Some success story: out of control inflation. It will happen in the United States next, if the Federal Reserve continues to follow the mad dog printing advice of Krugman." Continue reading →

Continue ReadingPaul Krugman’s Great Forecasting Failure: Argentina

China Central Bank Injects Record Cash Into Money Market

"China's central bank on Tuesday injected CNY 450 billion into the money markets through open market operations, reports said. This was the largest ever single-day injection. The People's Bank of China conducts repurchase agreements and offers bills to maintain short-term liquidity. The bank has introduced more funds as liquidity tightened ahead of the Chinese Spring Festival holiday." Continue reading →

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Hong Kong 2012 net gold flow to China hit record high

"Hong Kong’s net gold flow to mainland China jumped 47 percent in 2012 to a record high of 557.478 tonnes, indicating robust demand in China, which vies with India to be the world's top gold consumer. Hong Kong shipped 114.372 tonnes of gold to China in December, also a record high for monthly exports. The former British colony received 19.644 tonnes of gold from the mainland in that month." Continue reading →

Continue ReadingHong Kong 2012 net gold flow to China hit record high

Turkey will not halt Iran gold exports despite sanctions pressure

"U.S. officials are concerned that Turkey’s gold sales, which allow Iran to export natural gas, provides a financial lifeline to Tehran, which is largely frozen out of the global banking system by Western sanctions imposed over its nuclear programme. Turkey, Iran's biggest natural gas customer, has been paying the Islamic Republic for oil and gas imports with Turkish liras, because sanctions prevent it from paying in dollars or euros. Iranians then buy gold in Turkey, and couriers carry bullion worth millions of dollars in hand luggage to Dubai, where it can be sold for foreign currency or shipped to Iran." Continue reading →

Continue ReadingTurkey will not halt Iran gold exports despite sanctions pressure

Iranians shun own currency for Gold

"Iranians continued to purchase gold from every available centers on fears about it's economy, particularly the risk of soaring inflation and a wobbly currency. Worries about the declining buying power of the rial and doubts over the currency’s stability are the main drivers behind the flight to gold. Due to sanctions, Iranians have no choice but to invest in gold coins as they can't move their capital and invest in other countries. Treasured as a store of value, Iran’s gold coins, minted over centuries, are also culturally important. Produced by the Central Bank of Iran, a standard gold coin weighs 8.133 grams. It is also sold in smaller denominations." Continue reading →

Continue ReadingIranians shun own currency for Gold

Jim Rogers: Don’t Sell Your Gold and Silver Coins

"Demand for gold and silver coins is raging, and given the weak outlook for paper currencies, investors should hold on to these coins, says star investor Jim Rogers, chairman of Rogers Holdings. Gold coin sales hit a 19-month high last month, while silver eagle sales climbed to a record peak. 'You can’t get [silver coins]. They sell out,' Rogers tells Yahoo. 'Several mints have run out of coins, … because everybody’s worried about the future of the world.' Rogers says he 'wouldn’t rush in right now' to buy more coins, but would consider purchasing gold if prices fall further." Continue reading →

Continue ReadingJim Rogers: Don’t Sell Your Gold and Silver Coins

Another Hypocritical Leftist Caught with His Hand in the Tax-Haven Cookie Jar

"Treasury secretary nominee Jack Lew will face questions at his confirmation hearing next week about an investment fund registered in a Cayman Islands building that has been called a notorious site for tax haven abuse. Lew held between $50,000 and $100,000 in the fund… The investment fund could become an issue during the upcoming hearing because Lew’s job as Treasury secretary would give him a major role in shaping the administration’s tax policy. The president has targeted tax haven abuse as a major problem in the country’s tax system." Continue reading →

Continue ReadingAnother Hypocritical Leftist Caught with His Hand in the Tax-Haven Cookie Jar

DHS Raids Gun Collector – Confiscates Nearly 1,500 Guns – No Charges Filed

"On Wednesday, the Department of Homeland Security, along with a SWAT team and Bernalillo County sheriff’s deputies raided the home of Robert Adams in Albuquerque, New Mexico and, according to a federal search warrant affidavit the raid seized nearly 1,500 firearms from the man’s home and business. While having been watched for years and no charges filed as they seized Adam’s firearms, Federal investigators are saying that they are investigating him for gun smuggling, tax evasion, violating importation laws." Continue reading →

Continue ReadingDHS Raids Gun Collector – Confiscates Nearly 1,500 Guns – No Charges Filed

Obama Administration Demanding All Americans Must Have “Healthy Housing”

"The Strategy for Action unifies, for the first time, federal action to advance healthy housing, demonstrating the connection between housing conditions and residents’ health. It also promotes strategies and methods intended to reduce in-home health hazards in a cost-effective manner. 'Thanks to unprecedented collaboration across the federal family and among our many partners, we now have a specific plan for action to address radon and other preventable hazards found in homes across the country. This is important progress,' said EPA Administrator Lisa P. Jackson." Continue reading →

Continue ReadingObama Administration Demanding All Americans Must Have “Healthy Housing”

FAA Releases New Drone List—Is Your Town on the Map?

"The Federal Aviation Administration has finally released a new drone authorization list. This list, released in response to EFF’s Freedom of Information Act (FOIA) lawsuit, includes law enforcement agencies and universities across the country, and—for the first time—an Indian tribal agency. In all, the list includes more than 20 new entities over the FAA’s original list, bringing to 81 the total number of public entities that have applied for FAA drone authorizations through October 2012." Continue reading →

Continue ReadingFAA Releases New Drone List—Is Your Town on the Map?