Asia

Jim Rogers on Price Inflation, Investing in Asia and China’s Boom

"As we speak, there is this meeting in Beijing on what to do about the Chinese economy. It's a plenary council, which only meets periodically. The first meeting was in 1978 where [Deng Xiaoping] started opening up the Chinese economy, which has certainly been the most important thing in the world economy in the past 35 years. In 1993 they had another one, which had dramatic results. The Chinese say that this meeting is going to have equally dramatic and dynamic results and come up with very important changes. It may be as important as 1993 or 1978, and if they do big things, it's going to be perhaps the most important thing affecting the world economy over the next 10 or 20 years." Continue reading →

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IMF Happy Talk Cannot Obscure Japan’s Reality

"Printing a lot of money is really helping the Japanese economy, according to the International Monetary Fund. In fact, according to the IMF, there's plenty of room to do more if need be. This is part of a larger trend we've been observing of late. Whether it is Janet Yellen in the US or Mark Carney in England or the ECB or the BOJ itself, aggressive money printing is becoming a signature calling card. So what is all this money printing accomplishing? Well ... from our point of view, it's nothing more or less than a promotional exercise. It's clear to us. We couldn't figure it out at first but now we can. They're printing because there's nothing else to do." Continue reading →

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India’s third biggest gold fund reopens to investors

"India's third biggest gold fund will begin accepting fresh investments again after shutting off new buy-ins three months ago to support government efforts to curb bullion demand and control a rising trade deficit. The government and the central bank launched a series of measures this year to curb the country's appetite for gold as India battled a ballooning trade deficit and a weak currency. Gold is the biggest item on India's import bill after oil. The gold fund is part of Reliance Capital, controlled by billionaire Anil Ambani. India has imposed a 10 percent duty on imports of gold, and tied imports to exports. Imports have fallen to a mere 7 tonnes in September from a record 162 tonnes in May." Continue reading →

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Doug Casey & Jim Rogers Legendary Investors’ Roundtable

"Jim and Doug discuss today's world economic and financial situation within the context of financial history and past financial panics. Jim and Doug talk about central planning, central banking, big government and how governments have only 3 real options to raise money. Next, Jason asks Doug and Jim about competing currencies like Bitcoin, gold and silver and whether they will be allowed under any circumstance. Jason asks Jim and Doug about the turmoil in the currency and bonds markets. Doug and Jim also talk about commodities like farmland, cattle, gold and other natural resource investing opportunities. Jim Rogers was in Singapore and Doug Casey was in Argentina." Continue reading →

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India arrests man caught smuggling gold bars in cellphone

"The Air Intelligence Unit (AIU) arrested a passenger for attempting to smuggle gold through Mumbai airport on Saturday. The passenger, Ibrahim Khaleel, was carrying four gold bars worth Rs 48 lakh. Two of the bars were concealed in his mobile phone in place of the battery. The other two were found in his bag. Khaleel landed in Mumbai from Riyadh by a Jet Airways flight. Just as he was trying to clear Customs through the green channel, AIU officials intercepted him on suspicion and asked for a thorough check." Continue reading →

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Might India Confiscate the Gold of the Temples?

"If the financial woes of the Government worsen, as seems likely, the temptation will increase for them to tap into Temple resources at some point. Who the actual owners of the resources may be, is likely to become more blurred along the way. We are heading into a confiscatory era—a time when banks and governments reserve the right to go beyond the old method of taxation and to actually pillage the purse of the public. This has begun with bank accounts and pension funds in some countries, and, as the concept becomes a trend, it will take on many forms. Confiscation of temple, church, or synagogue funds may therefore soon be on the table in a variety of countries." Continue reading →

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Surging Bitcoin Downloads in India

"Fears that the Federal Reserve will scale back its easy-money policies sent India’s rupee tumbling to record lows against the U.S. dollar this summer. And more recently, Moody’s warned that when the Fed does actually begin tapering its $85 billion in monthly bond purchases, countries with large current-account balances, like India and Brazil, will see even greater capital outflows. The outflows, in turn, will put their currencies and debt ratings further under pressure. In 2013 so far, India’s current-account deficit has grown to a record 4.9% of GDP. That loss of confidence in the rupee has translated into an opportunity for bitcoin." Continue reading →

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Bitcoin billionaires

&"Since graduating in mechanical engineering this June, Sanket Shah hasn't bothered hunting for a job. But that hasn't thrown a spanner in his lifestyle. The secret to Sanket's self-sustenance lies in Bitcoins. The Reserve Bank of India has not yet formulated regulations to govern trading or profits generated from Bitcoins. An RBI spokesperson told Mirror over email that the RBI doesn't consider Bitcoin legal tender and, therefore 'trading in Bitcoin is not legal. Obviously, there cannot be regulations from RBI for an illegal activity. People who use it, do so at their own risk and responsibility.'" Continue reading →

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A Tale of Two Giants: The Elephant and the Dragon

"China and India are developing countries with vast growth potential. However, amid a liquidity boom, they over-marketed their potential, and nurtured and enjoyed a bubble ride. Their governments felt lucky and hoped that they could grow out of all their problems. Of course, bubbles cover up problems for a time and make them bigger after. As the global liquidity boom unwinds, investors need a better story to stay in emerging markets. Too much money around was good enough before. Now China and India need to convince investors that they can revive growth without a global liquidity boom." Continue reading →

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