Investment/Trends

Malta: new residency scheme for foreign buyers & renters

"The new residence scheme, referred to as Global Residence Programme, will allow people who buy or rent a property in Malta and direct their income to Malta to benefit from a residence permit (and thus income tax at 15 per cent). In order to qualify for residency, under the new Global Residence Programme, a non-EU foreigner will need to buy a property of €220,000 or over. Foreign nationals who are interested in renting a property, can also do so and they are eligible for residency given that the annual rental value is of €9,600 (or €800 monthly). The new Residence Scheme for Foreigners replaces the High Net Worth Individuals Scheme." Continue reading →

Continue ReadingMalta: new residency scheme for foreign buyers & renters

The Smart Money is Investing Here…

"Wal-Mart paid $2.4 billion for Massmart, a major retailer in South Africa, in 2011. This year, Coke is launching solar-powered kiosks to reach some of the remotest parts of sub-Saharan Africa – parts that lack electricity – with ice-cold soda. Pepsi announced a $30 million manufacturing plant in Kenya to compete against Coke for market share of the continent. And Yum! Brands is expanding quickly, adding another 50 stores in Africa this year alone. Google is also investing in a solar plant in South Africa and developing high-speed internet access across the continent." Continue reading →

Continue ReadingThe Smart Money is Investing Here…

Why Buffett Bailed on India

"Buffett isn’t alone in voting with his feet. Wal-Mart Stores Inc., ArcelorMittal (MT) SA and Posco are pulling back on investments in India that they had announced with great fanfare. What’s scaring foreigners away? A rampant political dysfunction that has stopped India’s progress cold. Headwinds from New Delhi are contributing to the slowest growth rates in a decade, a record current-account deficit and a 7.9 percent plunge in the rupee this year. Fiscal neglect has bond traders demanding higher yields for government debt than India wants to pay. Foreign-direct investment slid about 21 percent last fiscal year, and this one doesn’t look promising." Continue reading →

Continue ReadingWhy Buffett Bailed on India

US blows out $16.7 trillion debt limit

"The US Treasury has already exceeded the federal legal borrowing limit of $16.7 trillion in May. That signals the main structural problems remain unresolved putting at risk the fragile recovery. The country’s outstanding public debt is already $38.82 million above the statuary debt ceiling and now at $16,738,220,000,000.00, according to Treasury data. In the debt ceiling debate two years ago, lawmakers and the White House battled for months before Obama signed an increase into law on Aug. 2, 2011, the day the Treasury Department warned that US borrowing authority would expire, Reuters reports." Continue reading →

Continue ReadingUS blows out $16.7 trillion debt limit

Obama, Republicans gear up for bruising U.S. budget fight

"Another dramatic showdown between Republicans and the White House over federal spending looks inevitable this fall, with scary talk of government shutdowns and default on government debt. While Capitol Hill analysts are not predicting catastrophe, they have several reasons to worry that the conflict just weeks away could be even worse than usual. Obama and Congress face two fiscal deadlines in quick succession. They must agree by October 1 on a stop-gap measure to keep the government funded or face a shutdown. And in early November, Congress must raise the legal limit on the country's borrowing authority or risk an unprecedented default." Continue reading →

Continue ReadingObama, Republicans gear up for bruising U.S. budget fight

JPMorgan Chase stops trading ‘non-financial’ commodities amid federal pressure

"JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street’s role in the trading of raw materials comes under unprecedented political and regulatory pressure. After spending billions of dollars and five years building the banking world’s biggest commodity desk, JPMorgan said it would pursue 'strategic alternatives' for its trading assets that stretch from Baltimore to Johor, and a global team dealing in everything from African crude oil to Chilean copper. The bank said it will continue to trade in financial commodities such as derivatives and precious metals." Continue reading →

Continue ReadingJPMorgan Chase stops trading ‘non-financial’ commodities amid federal pressure

San Francisco Taxis Promote Bitcoins

"In times when the US financial authorities are leaving no stones unturned in sacking Bitcoin transactions, some of the 375 taxis in San Francisco are now promoting the currency, and quite effectively. The new campaign can now be seen on the streets of San Francisco in which the taxis are playing a 'We use coins' promotion video. Among the 375 taxis, 75 of them are also featuring a still-image monitor. Bitcoin forum member Dadj explained that how they were looking for local companies interested in accepting bitcoins in their business transaction, to put their advertisement on the still-image monitors in the taxis." Continue reading →

Continue ReadingSan Francisco Taxis Promote Bitcoins

DetroitCoin: Why we should make Detroit into a Bitcoin Hub

"For one, it’s got nothing to lose. By now Detroiters should be sick of being pumped and dumped by the financial system. Detroit desperately needs to diversify its economy. Detroit and its neighbor, Windsor, form North America’s largest cross-border conurbation. It’s the ideal location for taking advantage of bitcoin’s frictionless, cross border transactions. Assets are selling like hotcakes in Detroit and lower costs mean less risk for the kind of entrepreneurs that are already starting to turn Detroit into a lab for innovation. Detroit is already the birthplace of two bitcoin exchanges. Coincidence? No. The solutions come from the people with the pain." Continue reading →

Continue ReadingDetroitCoin: Why we should make Detroit into a Bitcoin Hub

Have gold miners missed the hedging boat?

"With many gold shafts underwater at current prices on the back of seemingly inexorable cost inflation, there are likely to be a few CEOs that will be secretly wishing they had done some hedging at $1,900. Banks still rather like it because it provides certainty when it come to project finance and, as a result, hedging continues but, for the most part it hasn’t really worked in gold companies’ favour over the course of the 13 year bull run – and, as a result it isn’t really considered a serious option. This view continues to predominate, as is evident in the latest figures on the global gold hedgebook for Q1 2013, released today by Thompson Reuters GFMS and Societe Generale." Continue reading →

Continue ReadingHave gold miners missed the hedging boat?

Shortages, warehouses and misinformation: Comex gold explained

"There has been a lot of misinformation recently about Comex warehouse gold stocks. Most notably, there's confusion about how this year's sharp drop in the quantity of gold bullion held in Comex warehouses might point to some looming shortage of metal to settle gold futures contracts, or even signal an outright default by sellers to buyers. But there is no mystery or hidden agenda of how Comex works. In this article our goal is to explain how the Comex works in the simplest fashion. Having been involved in the physical gold markets for thirty years, I hope I'm in a position to share a true 'insider' view, the better to inform this debate properly." Continue reading →

Continue ReadingShortages, warehouses and misinformation: Comex gold explained