investment

Brazil Doubles Gold Reserves as Central Banks Buy Bullion

"Brazil boosted gold reserves for a third month in November to double the country’s holdings since August as central banks from Russia to Belarus and South Korea add the metal to diversify their assets. Central banks have been expanding reserves as the metal heads for a 12th annual gain and investors hold a record amount in bullion-backed exchange-traded products. Nations bought 373.9 tons in the first nine months of the year and full-year additions will probably be at the bottom end of a range from 450 to 500 tons, the London-based World Gold Council estimates." Continue reading →

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The Five Largest Landowners in the U.S. (Three you probably never heard of)

"1. John Malone - The cable tycoon has 2.2 million acres stretching from Wyoming to Maine. 2. Ted Turner - The media magnate has 2 million acres in Nebraska, New Mexico and other states. 3. The Emmerson family This low-profile family holds 1.8 million acres through Sierra Pacific Industries, the nation's second largest lumber producer. 4. Brad Kelley The reclusive billionaire, who drives a pick-up truck and made his money from discount cigarettes, owns about 1.5 million acres and uses much of it for cattle ranching. 5. The Irving family The Canadian forestry family behind J.D. Irving Inc. owns 1.2 million acres in Maine and other locations." Continue reading →

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Housing Up, Home Ownership Down: The Mysterious New Housing Bubble

"If the number of people who actually bought a home and moved in dropped by 175,000, then what we’re seeing is industrial-scale investment by Wall Street speculators who are getting lavish financing perks from the banks to buy distressed properties that, if they had been sold on the MLS or via bank auctions, would have driven prices down even further pushing bank balance sheets deeper into the red. In other words, the Obama administration, the banks, the Fed and the behemoth private equity firms are all in bed together to reward the people who blew up the financial system with another backdoor bailout." Continue reading →

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Older homeowners falling more into foreclosure

"Homeowners more than 50 years old are falling into foreclosure faster than any other age group, particularly widows whose husbands held the mortgage, said the New York Times. Foreclosures among homeowners over 50 increased by 23% over the past five years, resulting in 1.5 million foreclosures. The main reason for the rise in foreclosures is due to women outliving their spouses and not being able to cop with ballooning, medical costs, mortgage and pension cuts. About 6% of loans held by persons over 50 were delinquent in 2011, up from 1% in 2007. One of the problems is older Americans are saving less and borrowing more, said AARP." Continue reading →

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New Taxes to Take Effect to Fund Health Care Law

"Among the most affluent fifth of households, those affected will see tax increases averaging $6,000 next year, economists estimate. The law does not provide for the money to be deposited in a specific trust fund. It is added to the government’s general tax revenues and can be used for education, law enforcement, farm subsidies or other purposes. Under another provision of the health care law, consumers may find it more difficult to obtain a tax break for unreimbursed medical expenses. In addition, workers face a new $2,500 limit on the amount they can contribute to flexible spending accounts used to pay medical expenses." Continue reading →

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France Taxes America: The Robin Hood Tax

"As predicted, France has passed the world’s first Robin Hood Tax — a levy of two-tenths of one percent on all French share transactions, purchases or sales — even when they are bought or sold by Americans. The new tax is expected to raise E500 million annually, a portion of which French President Francois Hollande has committed to give to fight global poverty and HIV-AIDS. The French tax is a precursor for more ambitious Financial Transactions Tax that nine European countries plan on implementing as early as December of this year. The broader tax would apply 'not just to shares, but to bond and derivative transactions' and is supposed to raise E34 billion." Continue reading →

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Why the Gun Control Movement Is Doomed

"Within a decade, it will be possible for people to manufacture handguns inexpensively in their own homes. Even if it takes two decades, it is clear what is going to come. The ability of the government to confiscate handguns is surely limited when somebody can download a free piece of software that will enable him to manufacture a handgun, or the components of a handgun, in the privacy of his own home. The Left is now facing an ideological crisis. Either it bans 3D printers, raising civil rights issues, or else it must give up having any shot at banning guns." Continue reading →

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Hungary bars foreigners from buying farmland

"Hungary has amended its constitution to bar foreigners from buying farmland, a move the government called 'historic,' but one that could cause friction with the European Union. Hungarian lawmakers on December 17 voted by a large majority to amend the constitution to bar foreigners from buying Hungarian farmland. The vote was a 'historic decision' and the 'beginning of a new era for agriculture,' it continued. The government says farmland needs to be protected from speculators and bankers looking to score bargains at the expense of farmers." Continue reading →

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Banks Seek a Shield in Mortgage Rules

"The legal protection stems from the Dodd-Frank Act, the sweeping regulatory overhaul passed in 2010 to help repair the financial system. The legislation mandated that loans be affordable, but Congress conceded that banks might fear the legal consequences if the mortgages did not comply. So lawmakers created a type of home loan that would have legal protection, called a 'qualified mortgage.' In practice, the protection will make it harder for borrowers to sue their lenders in the case of foreclosure." Continue reading →

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