"This new Libertarian City-State, inspired by New York University economist Paul Romer, has the backing of the libertarian-minded government in Tegucigalpa. It has also received plaudits from noted economists, pundits, and policymakers across the globe since it emerged nearly two years ago." Continue reading →
"Oct 15 - International investor Jim Rogers says he's shorting Treasuries in anticipation of the Fed-fueled bond bubble bursting. He's also thinking about buying the ruble as a way to play the Russian markets." Continue reading →
"Be very careful. Study some history and study some economics and see how these things always play out in the end. Prepare yourself. Make sure you have a professional advisor and you should do okay. Make sure you have investments that will do okay. Move to a new country if you are worried about your own country. I own commodities and currencies. I short stocks. I teach my children Mandarin. Both of my children speak perfect Mandarin. Both English and Mandarin will be important in the 21st century, in my view. We moved to Singapore so my children could learn and speak Mandarin. That's how I'm living my life." Continue reading →
"The $108 million BlackRock contract to trade Maiden Lane was large enough that, had it been designated sole source, it would have to have been approved by the New York Fed's board of directors...which includes Mr. Jamie Dimon. Wouldn't it have been embarrassing to have to disclose that Mr. Dimon voted to approve a dubious no-bid contract to BlackRock to trade the very portfolio of Bear Stearns assets that his firm, JP Morgan, was first in line to absorb any losses? Better for the New York Fed to throw away the file and lie to the GAO (allegedly)." Continue reading →
"Most of the gold produced in the world transits physically through Switzerland. Four of the world’s major refineries of gold are located on Swiss soil. In 2011, over 2,600 metric tons of raw gold were imported into the country, to a total value of SFr96 billion ($103 billion). This was a record, the quantity having more than doubled over the last ten years, not including the gold that transits through Swiss free ports. What keeps the Swiss refineries going at full pace right now is not so much the demand for semi-finished products for jewellery and watchmaking, but the demand for gold bars." Continue reading →
"Greece's largest company is to move its headquarters to Switzerland and list its shares in London, in a further blow to the struggling eurozone country. Shareholders, most of whom are abroad, will exchange their stock for shares in Coca Cola HBC AG, based in Switzerland. Most investors have already accepted the plan after long complaining about Greek taxes, according to Reuters. The company, in which The Coca-Cola Co of the US has a 23pc stake, bottles drinks in 28 countries from Russia to Nigeria." Continue reading →