Latest Articles: Business/Finance
Russia says oil freeze plan lost relevance
Post Date: 2016-05-30 02:44:25 by Tatarewicz
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PressTV... Russian Energy Minister Alexander Novak says a proposed plan for OPEC and non-OPEC producers to freeze their oil production to stabilize the prices has already lost its relevance. Russian Energy Minister Alexander Novak says a proposed plan for OPEC and non-OPEC producers to freeze their oil production to stabilize the prices has already lost its relevance. Russian Energy Minister Alexander Novak said the idea of freezing oil production has lost its relevance. "Today, since we are seeing that oil prices have bounced back, and bounced back quite high in comparison with the start of the year, this freeze issue has so far lost its relevance,” Novak has been quoted as ...
Russia keen on using Saudi sovereign fund: Report
Post Date: 2016-05-30 02:41:32 by Tatarewicz
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PressTV... Russian Energy Minister Alexander Novak (C) arrives for an Organization of Petroleum Exporting Countries (OPEC) meeting in the Qatari capital, Doha, on April 17, 2016. (AFP) Russian Energy Minister Alexander Novak (C) arrives for an Organization of Petroleum Exporting Countries (OPEC) meeting in the Qatari capital, Doha, on April 17, 2016. (AFP) Russia is said to be interested in having a stake in Saudi Arabia’s planned $2-trillion sovereign wealth fund. According to Russia’s Sputnik news agency citing the country’s energy minister, Moscow seeks to invest in the Saudi fund. "If they do launch such a fund and proceed with investing in projects, then we ...
Gold Is Rangebound, Summer Will Present Opportunity
Post Date: 2016-05-29 20:15:51 by BTP Holdings
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Gold Is Rangebound, Summer Will Present Opportunity Written by Gerardo Del Real Posted May 25, 2016 Gold remains rangebound and has for the past two months. The robust gains during the first quarter have many proclaiming a new gold bull market. Gold futures settled last Friday at $1,252 — down 1.6% — for a second straight weekly loss, as there are growing expectations of an increase of U.S. interest rates. Silver saw an even bigger loss — of 3.5% — its lowest in about a month, also on concerns about dollar strength due to a raise in rates. A raise nearly everyone had stated was not very likely before the latest Fed minutes were released. I outlined the reasons why ...
Why do Banks Fear Bitcoin?
Post Date: 2016-05-29 13:23:09 by Pinguinite
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This youtube discusses bitcoin, it's advantages, and shows a lives examples of doing an internet purchase and also an in person transaction using cell phones in a bar. It's a good 16 minute watch.
Losing Ground In Flyover America
Post Date: 2016-05-28 11:39:18 by Ada
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The cowardly dithering in the Eccles Building is sucking Wall Street punters into a vortex. And it promises to be the mother of all bubble implosions. There is no other possible outcome for a stock market that is trading at 24X reported earnings in the teeth of an enormous headwinds ever accumulated. The intensifying global deflation/recession lapping upon these shores gets more ominous by the day. Yet that’s only the half of it. When you take an unvarnished look at the domestic economy, the real recessionary skunk in the woodpile becomes apparent. Yet the casino is falsely capitalizing earnings as if recessions have been outlawed and the nirvana of Keynesian full-employment has ...
2016 to Become the Year of Bitcoin, Traders Predict
Post Date: 2016-05-27 12:02:28 by Pinguinite
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2015 was a successful year for bitcoin, with a record amount of investment and an increasing acceptance by leading financial institutions. 2016 is predicted to be an even more fruitful year for the cryptocurrency. Bitcoin is an innovative payment network perceived by some as the digital money of the future. Many, however, do not trust the platform, saying it is an unstable currency investment. Bitcoin was first introduced in 2008, by an unidentified person, or group of people, under the name "Satoshi Nakamoto." Its unique ‘blockchain' technology is aimed at avoiding central authority and allowing users to transfer the currency quickly and anonymously. Bitcoin ...
Extensive Bitcoin Use 'Could Disrupt Financial Stability' Unless Restricted
Post Date: 2016-05-27 11:54:44 by Pinguinite
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Extensive use of bitcoins and other virtual currencies could pose a threat to the state's financial stability unless restricted, Russia's Investigative Committee Chairman Alexander Bastrykin said Thursday. MOSCOW (Sputnik) — Bitcoin, a popular virtual web-based currency, has appreciated against the Russian ruble, rising in value from approximately 30,000 rubles ($392) to almost 33,000 rubles by mid-January, according to CoinDesk. Its value remains volatile against most currencies. "According to analysts, the circulation volume of monetary surrogates in Russia has already reached one percent of GDP. If this figure grows by 10 percent or more, this tool could become a real ...
Bitcoin Beware: Russia Developing National Cryptocurrency
Post Date: 2016-05-27 04:45:24 by Tatarewicz
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MOSCOW (Sputnik) — Russia plans to introduce its own cryptocurrency, while banning the use of all others, local media reported Friday, ciring Federal Financial Monitoring Service (Rosfinmonitoring) Deputy Director Pavel Livadny. According to the Kommersant newspaper, the move will help ensure that cryptocurrency is not used in unlawful schemes, consumer rights are protected and it may also reduce the costs of financial transactions. The new currency would have to be regulated by Russian laws and will have an issuer, which may be a financial organization, whose activities would be licensed. Bitcoin is a decentralized form of digital currency, created and held online all over the ...
Russia’s Gazprom No Longer Interested in Israeli Gas Field Development
Post Date: 2016-05-26 07:18:36 by Tatarewicz
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© Sputnik MOSCOW (Sputnik) — Russian energy giant Gazprom is no longer interested in participating in the development of Israel’s Leviathan gas field in the Mediterranean Sea, Russian media reported Wednesday, citing an unnamed Gazprom source. According to the Vedomosti newspaper, the source did not specify why the company had decided to abandon the project. Gazprom is reportedly not considering any other projects in Israel at the moment. In 2012, the company was in talks with Leviathan’s operating firms on buying a 30-percent stake in the development project. At the time, Total, ExxonMobil, ConocoPhillips, Chevron, Woodside Petroleum also wanted a part in the ...
Yet ANOTHER Billionaire Warns About Coming Chaos ... Maybe There's Something to This Trend?
Post Date: 2016-05-24 21:57:24 by BTP Holdings
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Yet ANOTHER Billionaire Warns About Coming Chaos … Maybe There’s Something to This Trend? Mike Larson | Tuesday, May 24, 2016 at 4:30 pm Is there something in the water that billionaires drink? Because yet ANOTHER one just warned about coming market and economic chaos this morning! Sam Zell is his name, and real estate is his game. Zell has founded or invested in multiple public and private real estate firms from his home base in Chicago over the years, and is now worth an estimated $4.8 billion. As a guest host on CNBC today, he offered nothing but cold water and harsh reality for the starry-eyed optimists. Specifically, he said “holding a lot of cash right now ...
Flim-Flam: the Scheme to Impoverish America
Post Date: 2016-05-24 16:57:48 by Ada
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Former students are suffering. First, the establishment mandated that all American children had to suffer years of indoctrination – the inculcation of statist doctrines in free public schools. The move toward compulsory, but free, public education for US children began decades ago. So for some time, our children have each had to endure years of indoctrination – the overt and covert programming of radical leftist dogma in “free” government- public schools.* *Government public schools are hardly free. They are paid for by property owners and governmental taxes, with those taxpayers having virtually nothing to say about how these public schools are run. Should college ...
Russia Working on Trains Faster Than Planes
Post Date: 2016-05-23 03:29:17 by Tatarewicz
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RI... They're taking Elon Musk's idea and running with it Russian researchers are working on high-speed transportation technologies similar to the Hyperloop system, Russian Transport Minister Maxim Sokolov said Friday. "Our scientists are also working on the creation of such projects [as the Hyperloop]. Initial research is ongoing at St. Petersburg State Transport University. Two years ago, I was shown a prototype — the track traveled by a railway container carried by magnetic levitation is not very long yet, but such technological concepts have already been tried and tested by Russian specialists," Sokolov said. He added that Russia clearly understood that ...
“G-DAY”
Post Date: 2016-05-22 18:23:33 by BTP Holdings
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“G-DAY” The Day Stocks, Bonds And Bank Accounts Could Head Towards ZERO Potentially Sending Gold Prices Haywire… To as much as $14,454 per Ounce (Or More) **Warning: The following presentation contains controversial content** Dear Reader, Jim Rickards here… And I call it “G-Day.” Others will call it the most paralyzing financial event in America’s financial history. No matter what you call it, know this... This event could be barreling towards us… And it could arrive as soon as June 15, 2016. That’s my best estimate of how quickly this could happen. When it happens, you won’t hear any bells go off. And you won’t hear ...
“G-DAY”
Post Date: 2016-05-22 18:22:56 by BTP Holdings
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“G-DAY” The Day Stocks, Bonds And Bank Accounts Could Head Towards ZERO Potentially Sending Gold Prices Haywire… To as much as $14,454 per Ounce (Or More) **Warning: The following presentation contains controversial content** Dear Reader, Jim Rickards here… And I call it “G-Day.” Others will call it the most paralyzing financial event in America’s financial history. No matter what you call it, know this... This event could be barreling towards us… And it could arrive as soon as June 15, 2016. That’s my best estimate of how quickly this could happen. When it happens, you won’t hear any bells go off. And you won’t hear ...
The 'Petroyuan' Is the Big Bet of Russia and China The two BRICS giants are leading the world in 'de-dollarization'
Post Date: 2016-05-22 07:39:40 by Tatarewicz
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In place of humiliating Russia, the “economic war” that Washington and Brussels had promoted was counterproductive, since it only contributed to fortify the energy team between Moscow and Beijing. We recall that in May of 2014 the Russian company Gazprom agreed to supply gas to China up to 38 billion cubic meters annually during three decades (starting in 2018) through the signing of a contract for 400 billion US dollars with the China National Petroleum Corporation (CNCP) [1]. At the present time both powers coordinate the work of an ambitious plan of strategic projects that include the construction of gas and oil pipelines as well as the combined operation of refineries and ...
China to play "very important role" at G20 Summit: Jim O'Neill
Post Date: 2016-05-22 05:48:41 by Tatarewicz
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LONDON, May 21 (Xinhua) -- The economist who coined the acronym BRIC to describe the four powerhouse emerging economies of Brazil, Russia, India and China has said that he thinks China will play a "very important role" in promoting economic cooperation at the G20 Summit held in China in September. Jim O'Neill, formerly chief economist with Goldman Sachs and now a minister in the British government as commercial secretary to the Treasury, told Xinhua in an exclusive interview that he expected China to nurture the growth of emerging economies when it hosts the G20 Summit, held for the first time in China in the city of Hangzhou in September. O'Neill said: "I think ...
Marc Faber: Now's the Time to Buy Mining Stocks, Oil and Gas
Post Date: 2016-05-21 16:20:42 by BTP Holdings
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Marc Faber: Now's the Time to Buy Mining Stocks, Oil and Gas Image: Marc Faber: Now's the Time to Buy Mining Stocks, Oil and Gas (DPC) By F McGuire | Friday, 20 May 2016 12:14 PM Marc Faber, author of the Gloom, Boom & Doom Report, says he is bullish on mining stocks as well as oil and gas shares despite his well-known gloomy outlook. "Some depressed sectors are showing signs of major lows," Faber told CNBC. "I am still negative about stocks but I can see more money printing in the future, which will lift some sectors." However, he is bullish on mining, oil and gas because if the values of currencies become depressed, gold and other commodities could see ...
Saudi Arabia Delays Payment to Contractors, Considers IOUs: Liquidity Crunch at Best
Post Date: 2016-05-18 13:34:52 by Horse
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Liquidity Crunch or Worse Saudi Arabia burnt through its reserves faster than anyone thought. In signs of a huge liquidity crunch, at best, the country has delayed paying contractors and now considers paying them in IOUs and tradable bonds. In retrospect, the Saudi threat to dump US assets looks more ridiculous than ever. Please consider Saudi Arabia Considers Paying Contractors With IOUs. Saudi Arabia has told banks in the country that it is considering giving contractors IOUs to settle some outstanding bills, according to people with knowledge of the discussions. A projected budget deficit this year is prompting the government to weigh alternatives to limit spending. Contractors ...
Inflation?
Post Date: 2016-05-18 08:13:06 by BTP Holdings
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Inflation? Larry Edelson | Wednesday, May 18, 2016 at 7:30 am The most frequently asked question I seem to get, even these days, is: "Larry, don’t you see hyperinflation for the U.S. in the years ahead?" So let me clarify my position, here and now. There was a time when I expected the U.S. economy would eventually experience hyperinflation. But when the price of gold failed to react to the Fed’s QE III announcement of virtually unlimited money-printing in September 2011 and the yellow metal entered a bear market, I knew something had radically changed. So I further researched the known periods of hyperinflation in the world. And I found something that completely ...
Corporate CEOs earn 335 times more money than employees – report
Post Date: 2016-05-18 02:18:38 by Tatarewicz
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RT... The head honchos of America’s 500 largest companies earn 335 times more money than their employees, a new union report found, which also highlighted how corporations are offshoring jobs and hiding their money overseas to avoid taxes. Intended to shine a light into the wide gap between corporate management and their employees, the report from the AFL-CIO federation of labor unions said that the average pay for workers in 2015 was under $37,000. By contrast, CEOs of S&P 500 Index companies earned an average of $12.4 million. “The income inequality that exists in this country is a disgrace. We must stop Wall Street CEOs from continuing to profit on the backs of working ...
'Big Oil Worry': Nigeria's Chaos Adds to Increasing Fuel Prices
Post Date: 2016-05-17 06:22:05 by Tatarewicz
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Sputnik... The ongoing crisis in Nigeria adds significantly to the current increase in global oil prices, according to Bloomberg. An employee fills a container with diesel at a gas station in Riyadh. © REUTERS/ Fahad Shadeed/File Photo Wind of Change: Saudi Arabia Prepares for the End of 'The Oil Age' Bloomberg's Julian Lee believes that the political standoff in Nigeria has added greatly to upward pressure on global oil prices. In his article 'Forget the Saudis, Nigeria's the Big Oil Worry', Lee said that apart from "Saudi Arabia's oil market machinations," policymakers should also be concerned about what is now "happening 3,000 miles away ...
Crude Future: Oil Era Far From Being Over in Global Energy Market
Post Date: 2016-05-16 04:42:23 by Tatarewicz
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Sputnik... The US Energy Department released their outlooks for oil in 23 years, in the year 2040. Their expectations varied though, with prices ranging from $76 on the low end of expectations to $250 on the high end. What is more, the report is busting the myth that the era of fossil fuel is nearing its end. The US Energy Department has worked out three scenarios for oil prices – optimistic, realistic and negative. Optimistic: $250 a Barrel In the most optimistic scenario, oil will reach $250 a barrel (in 2013 prices) in 23 years. Natural Gas, Oil Prices to Rise by 2017 - US Energy Info Administration Such an extreme level of prices will only be possible if non-OECD countries ...
The Debt Offensive
Post Date: 2016-05-15 10:13:22 by Ada
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God help Donald Trump’s critics. The paroxysms they have after the mogul–turned–GOP nominee’s policy pronouncements can’t be good for their health. The latest is a real hoot. For dealing with our enormous national debt, Trump wants to do what he does best: negotiate with creditors. How so? By pressuring bondholders to accept a haircut on their payments. And if they don’t like the terms? Well, they’ll get their money by hook or by crook. In an interview with CNBC’s Squawk Box, Trump gave a brutally honest take on our dismal fiscal prospects. “We owe so much money—nobody talks about it. Nobody talks about it until the bubble pops,” he ...
SATYAJIT DAS: Talks Financial Repression & “The Age of Stagnation”
Post Date: 2016-05-14 15:04:08 by BTP Holdings
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SATYAJIT DAS: Talks Financial Repression & “The Age of Stagnation” Submitted by IWB, on May 13th, 2016 by FRA FRA Co-founder Gordon T. Long is joined by Satyajit Das in discussing the consequences of financial repression and current policy making, along with the effects of the Chinese economy. SATYAJIT DAS is an internationally respected expert in finance, with over 35 years’ experience. Das presciently anticipated many aspects of the global financial crisis in 2006. He subsequently proved accurate in his warnings about the ineffectiveness of policy responses and the risk of low growth, sovereign debt problems (anticipating the restructuring of Greek debt), and the ...
Trillion Dollar Deficits Are Coming Back Soon
Post Date: 2016-05-14 14:46:25 by BTP Holdings
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Trillion Dollar Deficits Are Coming Back Soon Image: Trillion Dollar Deficits Are Coming Back Soon By David Stockman Friday, 13 May 2016 01:04 PM I recently noted that the frogs of Wall Street linger in the boiling pot because they are under the delusion that stocks are cheap based on the sell- side hockey sticks that always show $135 per share of S&P earnings and a 15X multiple in the next year ahead. Besides that, should anything go awry with the economy, Washington purportedly stands ready to bail-out the stock market with a new round of fiscal stimulus after the election. The latter delusion brings to mind what might be called the “CBO hockey stick,” which is a ...
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