investment

Bernanke Said to Minimize Asset-Bubble Concern at Meeting

"The Fed chairman brushed off the risks of asset bubbles in response to a presentation on the subject from the group, one person said. Among the concerns raised, according to this person, were rising farmland prices and the growth of mortgage real estate investment trusts. Falling yields on speculative- grade bonds also were mentioned as a potential concern, two people said. The 'first line of defense' if bubbles emerge 'needs to be regulatory and supervisory' actions rather than changes in monetary policy, according to Bernanke." Continue reading →

Continue ReadingBernanke Said to Minimize Asset-Bubble Concern at Meeting

Minting Pennies & Nickels Cost U.S. Taxpayers $436 Million Since 2006

"Pennies and nickels have cost more than their face value to mint since 2006, resulting in a loss of at least $436 million to U.S. taxpayers. The CHART OF THE DAY shows that in 2012, the penny cost almost 2 cents to make and the nickel more than 10 cents, according to the U.S. Mint’s annual report released in January. Those prices have almost doubled over the past seven years. American lawmakers seeking a model need not look beyond the Royal Canadian Mint, which stopped distributing pennies to financial institutions on Feb. 4, saving C$11 million ($11 million) annually. The last Canadian cent was minted in May." Continue reading →

Continue ReadingMinting Pennies & Nickels Cost U.S. Taxpayers $436 Million Since 2006

Congress Asks Bernanke For Full Risk Analysis On Fed’s Soaring Balance Sheet

"In a letter penned by the Chairman of the House Oversight & Government Reform Committee, Jim Jordan, says that he is 'troubled by the corresponding effect that the Federal Reserve's expanding portfolio could have on current and future economic growth' and has asked the Fed what its 'future plans to unwind the [$3 trillion and rising at $885 billion per month] portfolio' are." Continue reading →

Continue ReadingCongress Asks Bernanke For Full Risk Analysis On Fed’s Soaring Balance Sheet

The Herd: Wrong About Alaska, Wrong About Gold

"My message lately has been very simple: buy low. And do it now. The essential formula for investing, as you know, is to buy low and sell high. So easy to say, so hard to do. It takes real mettle to be a successful contrarian, and it's precisely because so many investors are so nervous about our market today that it's a buyer's market. Let me digress for a crucial, relevant sliver of history." Continue reading →

Continue ReadingThe Herd: Wrong About Alaska, Wrong About Gold

Tech Industry Sets Its Sights on Gambling

"Two states, Nevada and Delaware, are already laying the groundwork for virtual gambling. Within months they will most likely be joined by New Jersey. Bills have also been introduced in Mississippi, Iowa, California and other states, driven by the realization that online gambling could bring in streams of tax revenue. In Iowa alone, online gambling proponents estimated that 150,000 residents were playing poker illegally. Overseas, online betting is generating an estimated $32 billion in annual revenue — nearly the size of the U.S. casino market. Juniper Research estimates that betting on mobile devices alone will be a $100 billion worldwide industry by 2017." Continue reading →

Continue ReadingTech Industry Sets Its Sights on Gambling

Peter Schiff: Gold Pullback Explained

"Reports of the death of the gold bull market have been greatly exaggerated. In the global currency war the biggest loser wins. However, the real winner will be gold. The race to debase means no fiat currency is safe. Savers are assured of being collateral damage unless they protect their purchasing power with a monetary asset central banks cannot print." Continue reading →

Continue ReadingPeter Schiff: Gold Pullback Explained

Fed, uneasy over ‘QE,’ plans bond-buy debate

"Minutes of the Federal Reserve’s January meeting released Wednesday reveal that many Fed officials are worried about the costs and risks arising from the $85 billion–per–month asset-purchase program. And they all seem to have their own ideas on how to proceed. Several Fed officials said the central bank should be prepared to vary the pace of the asset-purchase plan depending on the outlook or how the program was working. One wanted to vary it on a meeting-by-meeting basis." Continue reading →

Continue ReadingFed, uneasy over ‘QE,’ plans bond-buy debate

New Zealand signals readiness to join currency wars

"New Zealand’s central bank governor was ready to intervene in foreign exchange markets, he said yesterday, the latest in a string of countries from South Korea to Brazil warning their currencies were too strong even as Group of 20 (G20) nations pledged to refrain from competitive devaluation. Policymakers in South Korea and the Philippines are weighing curbs to capital inflows while Norway’s central bank said it was ready to cut interest rates to counter the krone’s strength. 'There seems to be a sense that the gloves are off in terms of central bank action in currency markets,' said Mitul Kotecha, global head of foreign exchange strategy at Credit Agricole." Continue reading →

Continue ReadingNew Zealand signals readiness to join currency wars