Investment/Trends

Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

Continue ReadingBusted California Cities: Pension Liabilities

Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

Continue ReadingBusted California Cities: Pension Liabilities

Nine Things You Need to Know to Survive the New Economy

"There is a way out. You have to hustle. It's hard. But there's nothing else. You have to choose between being a temp staffer (and I can see this from the front lines) or being an entrepreneur/artist. It's going to sound corny, but you have to stay physically, emotionally, mentally, and spiritually healthy. You have to work on coming up with ideas every day. You have to be around positive people who love you. You have to be grateful for the abundance you have and invite more into your life. This is not economics. This is the real world and how to survive in it. Not the fantasy land of cubicles and fluorescent lights." Continue reading →

Continue ReadingNine Things You Need to Know to Survive the New Economy

Nine Things You Need to Know to Survive the New Economy

"There is a way out. You have to hustle. It's hard. But there's nothing else. You have to choose between being a temp staffer (and I can see this from the front lines) or being an entrepreneur/artist. It's going to sound corny, but you have to stay physically, emotionally, mentally, and spiritually healthy. You have to work on coming up with ideas every day. You have to be around positive people who love you. You have to be grateful for the abundance you have and invite more into your life. This is not economics. This is the real world and how to survive in it. Not the fantasy land of cubicles and fluorescent lights." Continue reading →

Continue ReadingNine Things You Need to Know to Survive the New Economy

Jim Rogers: 50% Correction in Markets not Uncommon

"Jim Rogers sat down with Kitco News during FreedomFest to talk about gold, the fed and the current state of the markets. Rogers explains his book 'Street Smarts' and shares his experiences living in Singapore. Watch now to hear what he has to say about the US economy and the recent corrections in gold prices." Continue reading →

Continue ReadingJim Rogers: 50% Correction in Markets not Uncommon

U.S. banks eye metal storage exit

"JPMorgan Chase and Goldman Sachs are seeking to sell their metal warehousing units just three years after their controversial entry to the industry. The two US banks got in to the niche warehousing business in 2010 at a time when a build-up in stocks following the financial crisis had triggered a boom for storage companies. But their ownership of warehouses struck a nerve when metal users began complaining that warehousing companies were profiting from bottlenecks in the system that have distorted prices. The Federal Reserve is also weighing whether banks should even be allowed to own physical commodities infrastructure, such as warehouses." Continue reading →

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Gold Deliveries From Shanghai Bourse Jump on Physical Demand

"Physical gold delivered to buyers by China’s largest bullion bourse in the first half of this year almost matched the entire amount taken from its vaults in 2012, and was more than double the country’s annual production. The surge in deliveries underscores buying interest in China, which may pass India as the largest bullion consumer as early as this year after the government in New Delhi raised import taxes while regulators in Beijing made investing in the metal easier. Miners, smelters and refineries are required to sell gold via the Shanghai bourse, the only state-sanctioned marketplace for spot bullion in China." Continue reading →

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Gold Diverging From Fine Wine as Bullion Investors Lose Faith

"The Liv-ex Fine Wine 100 Index (LIVX100) tripled in the past 10 years and gold advanced fourfold. The wine gauge rose 5.9 percent this year as bullion slid 17 percent. The Wine Investment Fund, which manages about $50 million of assets, expects the Liv-ex gauge to rise by about another 7.6 percent by the end of December. Demand for gold, wine and other alternative assets gained in the past several years as equities retreated and bond yields tumbled to record lows as central banks printed money on an unprecedented scale. Gold held through exchange-traded products exceeded all but two of the world’s central-bank reserves." Continue reading →

Continue ReadingGold Diverging From Fine Wine as Bullion Investors Lose Faith

India finance minister to countrymen: Contain ‘uncontrolled passion’ for gold

"Finance Minister P Chidambaram today asked countrymen to contain their 'uncontrolled passion' for gold and instead save in financial instruments. 'Have faith in our financial sector. Unfortunately, we have difficulty shedding our old habits and put our money in gold,' he said while speaking at an event to mark the platinum anniversary celebrations of state-run Dena Bank. 'The uncontrolled passion for gold must be contained,' Chidambaram said. People should rather switch to financial products to funnel their savings, the Minister said and added the soon to be launched inflation indexed bonds is a very lucrative option." Continue reading →

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Granny’s Gold Bars Are Key to Vietnam Push to Boost Dong

"The target of Vietnam’s campaign to stabilize its currency is in the locked bedroom wardrobe of retired civil servant Vu Thi Huong: gold bars. Huong is among millions of Vietnamese who hold an estimated 300 tons to 400 tons of bullion to store their wealth -- valued at as much as $19 billion at domestic prices and equal to official U.K. holdings -- a legacy of more than a century of war, revolution and economic turbulence. The central bank wants to convert the hoard, much of it smuggled in, into dong deposits to strengthen the currency, which has slid 21 percent against the dollar in five years." Continue reading →

Continue ReadingGranny’s Gold Bars Are Key to Vietnam Push to Boost Dong