Asia

U.S. flies B-52 bombers over South Korea

"The United States said it was flying training missions of nuclear-capable B-52 bombers over South Korea, in a clear signal to North Korea at a time of escalating military tensions. The flights — part of annual joint South Korea-US military exercises — should be seen as underscoring US commitment and capacity to defend Seoul against an attack from the North, Pentagon spokesman George Little said. B-52s have taken part in annual exercises before, but Little said the Pentagon wanted to underline their use this time given the current, heightened tensions, and he added that further B-52 flights would be carried out." Continue reading →

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India enacts law to enforce ‘Know Your Customer’ norms for Gold purchases

"World's largest gold consumer India enacted a law making it mandatory for jewellers to collect a KYC (know your customer) document from every customer purchasing jewellery worth Rs 50,000. India made an amendment to extend the purview of the Prevention of Money Laundering (PML) Act to enforce Know Your Customer norms for retail purchases of gold and precious stones. Indian authorities hope this move will eventually cut down gold imports which is responsible for country's staggering current account deficit (CAD)." Continue reading →

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Kyle Bass Warns: “The ‘AIG’ Of The World Is Back”

"His single best investment idea for the next ten years is, 'Sell JPY, Buy Gold, and go to sleep,' as he warns of the current situation in markets, 'we are right back there! The brevity of financial memory is about two years.' The main thrust of the discussion is Bass' thesis on Japan's pending collapse - which we wrote in detail on here, here, and here - and while the details of this thesis should prepare most for the worst, it is the Q&A that provides some very clear insights into just what is going on in the world." Continue reading →

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Norway’s Sovereign Wealth Fund Flees Currencies Tainted by Stimulus Addiction

"Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures. The Government Pension Fund Global, the world’s largest wealth fund, cut its holdings in French and U.K. government bonds by almost half last year as it raised its share of government bonds in emerging-market currencies to 10 percent of its fixed-income holdings by adding investments in Turkey, Russia and Taiwan." Continue reading →

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Japan To Hike Utility Prices By 14-19% As Inflation Surges In All The Wrong Places

"First it was gas prices, then it was food prices, and now it is the turn of basic utilities to see costs surge by double digits. 'Japanese utilities, forced to idle their nuclear power plants over the past two years and facing higher fuel costs due to a weak yen, are now looking to push through double-digit rate hikes for their commercial customers.' This means less disposable income, less corporate profits, less monetary velocity, less growth and ultimately less 'inflation' in other things such as the much desired stock market, which was supposed to be the wealth effect offset to all staples price increases." Continue reading →

Continue ReadingJapan To Hike Utility Prices By 14-19% As Inflation Surges In All The Wrong Places

Japan PM: Hyperinflation ‘Unthinkable’ Even With Bold Easing

"Hyperinflation is 'unthinkable,' Prime Minister Shinzo Abe said Monday, citing the Bank of Japan's ability to make adjustments after enacting bold monetary easing. 'If the rate of inflation exceeds the 2% target, the BOJ would naturally proceed with a policy to keep it within 2%,' he told reporters. At the same time, Abe noted that the government 'must keep a keen eye on trends in prices and long-term interest rates.' The prime minister stressed the need to improve the country's finances, indicating a stance of limiting monetary policy side effects with an eye on government bond prices." Continue reading →

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Dennis Rodman ‘planning a vacation’ with Kim Jong-Un

"The odd couple is getting odder: first, Dennis Rodman and North Korean leader Kim Jong-Un took in a hoops game side-by-side. Now they’re planning a holiday together. The retired and flamboyant 51-year-old Rodman, who announced the vacation plan Monday, became the most high-profile American to meet Kim, doing so during a recent trip to Pyongyang which came against a backdrop of increased North Korean saber-rattling on the peninsula. Officials in Washington have played down the significance of the trip, stating that the former Chicago Bulls star does not represent the views of the United States." Continue reading →

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Private Schools in India Serve the Poor, but Can They Survive Attacks by Government?

"I despise policies such as corporate subsidies, bailouts and minimum wage laws. So you’ll understand why I’m particularly upset that the government of India is now trying to undermine opportunity for the poor by shutting down private schools. Because the government schools do a terrible job, there are millions of poor families who are sacrificing to send their kids to private schools. Apparently embarrassed by the fact that so many millions of poor families would rather pay for good private schools than go to free state institutions, the government is trying to regulate the private schools out of existence." Continue reading →

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Indian starving children’s fund used to fix buses

"A fund of millions of dollars raised to help malnourished children in western India has been diverted to maintain public buses, a report said on Friday. The 'Child Nutrition Surcharge' was set up 16 years ago to collect a small percentage of each bus ticket fare in major cities in Maharashtra state, where thousands of children die from malnutrition each year. But public transport officials say that millions raised have yet to be transferred to the state treasury because they allegedly need the funds to maintain buses and keep them on the road, the NDTV news channel reported." Continue reading →

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Shanghai Introduction

"Shanghai is the world's largest city, when considering population size living within city limits -- not counting suburbs. With 18 million people, it if filled with action and ideal people-watching conditions, with its densely-packed population. Shanghai is one of the world's most modern cities, which might surprise those who think that China is not yet a developed nation. Glistening new skyscrapers make this the largest collection of tall buildings on Earth. It is a great place to discover on foot." Continue reading →

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