Latest Articles: Business/Finance
Chinese bus maker Yutong launches new vehicles in Cuba
Post Date: 2017-11-01 08:05:25 by Tatarewicz
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Xinhua| Editor: Liangyu Chinese bus maker Yutong on Tuesday presented to the Cuban market new models of buses, generating great expectations among locals and government officials at the 35th Havana International Trade Fair, the island's most important business event (Xinhua/Joaquin Hernandez) HAVANA, Oct. 31 (Xinhua) -- Chinese bus maker Yutong on Tuesday presented to the Cuban market new models of buses, generating great expectations among locals and government officials at the 35th Havana International Trade Fair, the island's most important business event. Dozens of people attending the fair, Yutong and Cuban government officials participated in the unveiling of the vehicles, ...
Canadian certified gold bar exposed as fake: how many more are out there?
Post Date: 2017-10-31 07:31:42 by Ada
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The Royal Canadian Mint has launched an investigation into the sale of a gold wafer that turned to be a fake. The one-ounce piece of gold was sealed and marked with proper mint stamps. On October 18, Ottawa jeweler Samuel Tang purchased a wafer, which was supposed to be 99.99 percent pure gold from the Royal Bank of Canada (RBC) branch located across the street from his shop. Tests carried out by the jeweler apparently revealed the small bar contained no gold. The wafer was hard to roll, snapped instead of being easily bent and failed an acid test. “Who is going to make sure those are real? I am worried there are more of those out there, and no one knows,” Tang told ...
Peter Schiff: Gold Is Going To Go Way Up, Not Down (Video)
Post Date: 2017-10-28 15:06:59 by BTP Holdings
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Peter Schiff: Gold Is Going To Go Way Up, Not Down (Video) Oct. 24, 2017 7:16 AM ET| (670 followers) By SchiffGold Harry Dent is a long-time gold bear. He used to say gold would fall to $250. He's revised that prediction up a bit, but still calls for a steep decline in the price of the yellow metal, perhaps to as low as $700. Peter Schiff took on this notion during a recent interview on RT's Boom Bust and explained why he thinks Harry is wrong. The bottom line is, Dent has too much faith in the US dollar. "There's a lot of things that Harry says that I agree with, but his price target on gold is not one of them. I think he has too much confidence in the US ...
Wall Street found a parasite growing in the US economy that could spur the next recession
Post Date: 2017-10-27 10:25:20 by Ada
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Wall Street's short sellers are beginning to talk about healthcare as the next major threat to the US economy. Costs are so high that the market will have to correct sooner rather than later. Left unchecked, a market-led correction will be brutal. Imagine a parasite living in the US economy, siphoning off the cash that has powered the middle class for decades. We know it's there, but no one — on the right or the left — is talking seriously about how to slow its growth. This parasite is our healthcare system. It is already causing more damage to the economy than you know, and at least one group of people seems to have this figured out: the same Wall Street doomsayers ...
White House Applauds Vote Removing Right To Sue Banks, Credit Card Companies
Post Date: 2017-10-27 09:38:37 by Ada
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The banking industry had been lobbying hard to roll back the regulation from the Consumer Financial Protection Bureau. WASHINGTON (AP) — The White House is welcoming a congressional measure killing the ability of millions of Americans to band together to sue bank or credit card companies to resolve financial disputes in a major win for Wall Street. The Senate narrowly voted late Tuesday night to nullify the rule, with Vice President Mike Pence casting the final vote to break a 50-50 tie. The measure now goes to President Donald Trump for his signature. “President Donald J. Trump applauds the Congress for passing,” the resolution, the White House said in a statement ...
Cultural Erosion and Violence
Post Date: 2017-10-09 08:14:29 by Ada
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When you observe shootings; divorce; drug use; low savings rates; diminished work ethic; an increased focus on recreational pursuits; few or no offspring; disrespect within the family; personal mutilation; skimpy clothing; loud-mouthed arrogance; foul-mouthed internet culture; youtube skate-and-crash motifs; non-musical music; and diminished desire and ability to read, study and learn; you may think, why now? Why all at once? Do these things somehow relate to each other? How can they? How can a shooting at a concert be related to the fact that millions of homes are affected by divorce or contain mongrel children from more than one father? (By the way, the latest shooter was twice divorced, ...
Migration of the Tax Donkeys
Post Date: 2017-10-07 06:13:00 by Ada
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A Great Migration of the Tax Donkeys is underway, still very much under the radar of the mainstream media and conventional economists. If you are confident no such migration of those who pay the bulk of the taxes could ever occur, please consider the long-term ramifications of these two articles: Stanford Says Soaring Public Pension Costs Devastating Budgets For Education And Social Services Which American Cities Will File Bankruptcy Next? Allow me to summarize for those who aren't too squeamish: a lot of cities and counties are going to go broke, slashing services and jacking up taxes, all to no avail. The promises made by corrupt politicos cannot possibly be kept, despite constant ...
3 Uncommon Signs That An Economic Collapse Could Happen Soon
Post Date: 2017-10-04 18:37:39 by Horse
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As stocks continue to climb and the U.S. economy sustains its third longest period of expansion in history, market forecasters are seeking clues for when our next crisis may strike. So far, three uncommon signals have them worried. Here’s an explanation of the three uncommon signs causing alarm, and what they mean for your savings… Sign #1: Resurgence of Synthetic CDOs The riskiest plays on Wall Street are made using financial instruments known as derivatives. Derivatives are named for how they “derive” their value from the underlying assets on which they’re based. They give investors the ability to leverage assets — that is, control large quantities of an ...
WE CAN FINALLY IDENTIFY ONE OF THE LARGEST HOLDERS OF PUERTO RICAN DEBT
Post Date: 2017-10-04 09:04:28 by Ada
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FOR YEARS, THE IDENTITY of the owner of one of the largest holdings of Puerto Rican debts has been a mystery. That mystery has finally been solved, with the help of the The Baupost Group, who unmasked themselves to The Intercept. The Baupost Group, a Boston-based hedge fund managed by billionaire Seth Klarman, owns nearly a billion dollars of Puerto Rican debt, purchased under a shell company subsidiary and hidden from public scrutiny. Baupost acquired the debt through an on-paper Delaware-based corporation named Decagon Holdings LLC, whose beneficial owner had been unknown until now. “The Baupost Group is a holder of COFINA bonds through the Decagon entities,” said Baupost ...
The GOP Tax Reform Plan: A Preliminary Libertarian Analysis
Post Date: 2017-10-03 21:18:16 by Ada
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The Republicans have released their latest tax-reform plan. “Unified Framework For Fixing Our Broken Tax Code” is a simple, 9-page document that leaves the reader with many unanswered questions. Back in 2015, I subjected the tax proposals President Obama made in his State of the Union address to a libertarian analysis. Earlier this year, I did the same for President Trump’s tax plan. It is only fitting that I now do the same for the Republicans’ framework. The “unified framework” developed by “the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance” claims to be a “pro-American, fiscally-responsible ...
As Wall Street Vultures Circle, Demands For Immediate Puerto Rico Debt Relief
Post Date: 2017-10-02 08:55:20 by Ada
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“Washington must abandon its austerity agenda and support the removal of all manmade obstacles to Puerto Rico’s recovery and reconstruction.” While Wall Street vultures circle amid an ongoing humanitarian crisis and try to entice Puerto Rico with “relief” offers in the form of more debt, advocates for economic justice are demanding immediate debt relief and federal stimulus spending to rebuild the island’s devastated infrastructure. “Puerto Rico needs immediate humanitarian assistance before many more lives are lost thanks to America’s latest climate catastrophe, and reconstruction aid to help them rebuild their infrastructure,” Wenonah ...
OPINION: Jim Rogers notices what no-one else is noticing
Post Date: 2017-10-02 08:43:54 by Ada
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JOHANNESBURG - Step away from the crowd, look, see what no-one else is noticing - and that is where you can find what everyone is searching for. This is Jim Rogers’ key to success. He should know, he is a US dollar billionaire, one of the world’s foremost financial analysts and commentators and an author. Rogers is increasingly bullish about investing across Africa and emerging markets. Rogers, 74, has investments in many countries. One of his most recent is into a Hong Kong-listed coal mine in Indonesia. He was scoffed at, while the rest of the world is moving away from fossil- fuels, that one of the world’s most savvy investment seers had bought into a coal mine. In ...
Paul Craig Roberts Warns Americans: "Oligarchic Rule Prevails Regardless Of Electoral Outcomes"
Post Date: 2017-10-02 00:10:25 by Horse
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Do the Wall Street Journal’s editorial page editors read their own newspaper? The frontpage headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out correctly that an economy alleged to be expanding at full employment, but absent any wage growth or inflation, is “a puzzle that complicates Federal Reserve policy decisions.” On the editorial page itself, under “letters to the editor,” Professor Tony Lima of California State University points out what I have stressed for years: “The labor-force ...
Why the U.S. Dollar Constantly Loses Value
Post Date: 2017-10-01 11:54:39 by BTP Holdings
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Why the U.S. Dollar Constantly Loses Value Your wealth is steadily evaporating. Why doesn’t a dollar stretch like it used to? By Robert Morley From the February 2007 Trumpet Print Edition Ever wonder why your dollar doesn’t seem to stretch as far as it used to? There is a simple explanation: It’s worth less. The reason? The nation’s money supply is constantly being expanded. Between 1783 and 1913, the U.S. dollar was a real store of wealth. Except during wartime periods, inflation within the United States was essentially zero. If you saved one dollar in 1800, a hundred years later you could still purchase approximately the same amount of goods with your savings. ...
Syria offers preferential trade to Russian business
Post Date: 2017-09-19 07:21:18 by Tatarewicz
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RT... The President of Syria Bashar Assad has told the embassy in Russia to give preferential treatment to Russian entrepreneurs wanting to do business in Syria. Read more © Ministry of Defence of the Russian Federation Russia sends 4,000 tons of pipes, cables & machinery in reconstruction aid to Syria – MoD Syria’s Ambassador to Russia Riyad Haddad explained the new policy at a meeting of the Syrian-Russian business council in Moscow. The meeting was attended by a delegation of Syrian businessmen who hope to establish contacts with Russian counterparts. "We will always be side by side; our doors will be open to help you cope with all the bureaucracy ...
Venezuela Just Officially Stopped Accepting Dollars for Oil Payments
Post Date: 2017-09-15 10:54:32 by Ada
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Blowback from Trump's sanctions against the country Coming fast on the heels of a serious Chinese-Russian challenge to the petrodollar, this is important. We published an excellent article about this yesterday titled: 'We Should Take the Latest China-Russia Challenge to the Dollar Seriously', by William Engdahl, one of the best experts on this subject in the world. Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for ...
Trump blocks $1.3bn sale of US tech company to China for ‘national security’ reasons
Post Date: 2017-09-14 02:35:06 by Tatarewicz
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RT President Donald Trump has blocked one of the largest attempted acquisitions of a US company by a Chinese firm, with the tough policy against China continuing, despite the exiting of White House chief strategist Steve Bannon, who favored “economic nationalism.” Read more U.S. Treasury Secretary Steve Mnuchin. © Yuri Gripas US threatens to ‘cut China off’ from dollar if it does not uphold sanctions against N. Korea On Wednesday, Trump issued an executive order through the Defense Production Act of 1950, denying the Chinese-backed private equity firm Canyon Bridge Capital Partners from acquiring US-based chipmaker Lattice Semiconductor Corporation for $1.3 ...
Venezuela takes decisive steps to get rid of the US dollar
Post Date: 2017-09-09 06:27:13 by Tatarewicz
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Pravda.Ru Venezuela will create an alternative to the dollar, President Nicolas Maduro said. According to him, Venezuela will also develop a new international payment system. "Venezuela is going to introduce a new international payment system and create a currency basket to get rid of the dollar peg. We, together with such freely convertible currencies as the yuan, yen, rupees, international currencies, will get rid of the clutches of the dollar that have been strangling our country," Maduro said. Venezuela's daring move comes as a response to the sanctions that US President Donald Trump imposed on the country. American businessmen were prohibited from making deals with ...
The 529 College Plan Scam
Post Date: 2017-09-08 21:57:09 by ghostdogtxn
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Giant Equifax data breach: 143 million people could be affected
Post Date: 2017-09-07 21:41:25 by farmfriend
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Equifax says a giant cybersecurity breach compromised the personal information of as many as 143 million Americans — almost half the country. Cyber criminals have accessed sensitive information -- including names, social security numbers, birth dates, addresses, and the numbers of some driver's licenses. Additionally, Equifax said that credit card numbers for about 209,000 U.S. customers were exposed, as was "personal identifying information" on roughly 182,000 U.S. customers involved in credit report disputes. Residents in the U.K. and Canada were also impacted. The breach occurred between mid-May and July, Equifax said. The company said it discovered the hack on July ...
Russian firm seals energy exploration deal to drill South African shelf
Post Date: 2017-09-05 04:02:27 by Tatarewicz
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RT... Russia’s geological research company Rosgeo and South African national oil company PetroSA have signed an offshore drilling agreement on the sidelines of the of the BRICS Summit in Xiamen, China. The deal is worth an estimated $400 million over the next 10 years. Read more © Evgeny Biyatov Russia's Rosneft inks oil production & supply deal with China Rosgeo aims to start exploring two blocks off the country's south coast. The agreement covers a huge amount of geological exploration work, including drilling exploratory wells. The company is expected to undertake 1,500 square miles of 3D seismic operations and over 8,000 miles of gravity-magnetic exploration ...
Norway’s Big Fish Story
Post Date: 2017-09-04 07:50:33 by Ada
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Decision Season With Parliamentary elections looming, more Norwegians than usual are asking themselves the tough questions. It is now apparent that the slump in oil is not a temporary one. What will the country do now? Time for the lottery winner, after receiving the last annuity, to get a job before burning out the savings. Many are looking towards the sea, fishing and exploiting underwater natural resources. Others are looking to blast open the mountains to do the same. However, commodity based economies, third-world in nature, are subject to mother nature’s whims, innovation, and ruthless competition. Moreover, it creates complacency, catching the nation off guard when there is ...
"Economics Nobel Prize" Winners Are Advocating For Universal Basic Income
Post Date: 2017-09-04 05:50:43 by Tatarewicz
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Up until very recently, most people had not heard of universal basic income (UBI). While the idea itself isn't entirely new, its significance has been explored lately because of job displacement fears intelligent automation is expected to bring with it. As such, UBI has been endorsed by experts from various industries, including some of the Silicon Valley's bigwigs. Now, some of the world's top economists are backing it up, too. Speaking at a panel discussion at the 6th Lindau meeting on economic sciences back in June, winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel - more commonly known as the "economics Nobel prize" - ...
A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says
Post Date: 2017-09-02 09:48:52 by BTP Holdings
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A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says CNBC Catherine Clifford 7 hrs ago Giving every adult in the United States a $1000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to a new study on universal basic income. The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College's Levy Institute, and Gennaro Zezza at the University of Cassino and Southern Lazio in Italy co-authored the study. The study made economic forecasts for three proposals: a full universal basic income in which every adult gets $1,000 a ...
Japanese companies are looking at upstream tender opportunities in Iran.
Post Date: 2017-09-02 08:58:03 by Tatarewicz
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PressTV... With Japanese companies looking at upstream tender opportunities in Iran, Japan's Ministry of Economy, Trade and Industry (METI) says it has requested an 11% hike in its budget for acquiring exploration and upstream development-stage assets in fiscal 2018-19. A ministry official, quoted by Platts, said METI has asked for a $552.8 million budget for exploration and upstream oil and natural gas assets. Besides Iran, Japanese companies are also considering explorations and surveys in Russia, as well as studying US shale assets, the official said. Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor has said Japan’s Inpex was among the major companies ...
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