Tag Archive: China

U.S. Imports Record Amount Of Gold From Switzerland In July

2016-09-24

by

2016-09-24

Switzerland's gold exports to the U.S. are already 60.7 mt in 2016, up more than 18 times the volume in 2015. For the first year since 2011, U.S. gold imports are higher than exports.

Read More »

Rogoff Warns “Cash Is Not Forever, It’s A Curse”

2016-09-14

by

2016-09-14

Kenneth Rogoff, Professor of Public Policy at Harvard University, postulates to get rid of cash. In his opinion, killing big bills would hamper organized crime and make negative interest more effective. Kenneth Rogoff makes a provocative proposal. One of the most influential economists on the planet, he wants to phase out cash.

Read More »

FX Daily, September 13: Much Noise, Weak Signal

2016-09-13

by

2016-09-13

The last ECB meeting and Dragh's hawkish comments is for us the main reason of the euro strength, this despite stronger Swiss GDP growth.

Read More »

Attack The Fed’s War On Savers, Workers And The Unborn (Taxpayers)

2016-09-13

by

2016-09-13

The central banks have gone so far off the deep-end with financial price manipulation that it is only a matter of time before some astute politician comes after them with all barrels blasting. As a matter of fact, that appears to be exactly what Donald Trump unloaded on bubble vision this morning:

Read More »

The Dos Santos Succession Saga

2016-08-21

by

2016-08-21

Arguably one of the easier calls for us to make after 37 years in power was that President dos Santos would find ways of affording himself another 5 years in. Like any ‘effective’ leader, Mr. Santos made sure the final deal to do just that was stitched up long before the Party Congress formally convenes in Luanda, with a lower level MPLA ‘Central Committee’ already rubber stamping his name in mid-August.

Read More »

Norway: Towards Stagflation

2016-08-19

by

2016-08-19

We have all heard the incredible stories of housing riches in commodity producing hotspots such as Western Australia and Canada. People have become millionaires simply by leveraging up and holding on to properties. These are the beneficiaries of a global money-printing spree that pre-dates the financial crisis by decades.

Read More »

Spectacular Chinese Gold Demand Fully Denied By GFMS And Mainstream Media

2016-08-18

by

2016-08-18

In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes. As Chinese wholesale demand, measured by withdrawals from Shanghai Gold Exchange designated vaults, accounted for 2,596 tonnes in 2015 the difference reached an extraordinary peak for the year.

Read More »

Yuan and Why

2016-08-17

by

2016-08-17

It is as if Hamlet, the confused prince of Denmark, has taken up residence in Beijing. The famed-prince wrestled with "seeming" and "being". So are Chinese officials. They seem to be relaxing their control over financial markets but are they really? Are they tolerating market forces because they approve what they are doing, such as driving interest rates down or weakening the yuan? If so what happens when the markets do something which they...

Read More »

UK Imported Net 152 Tonnes of Gold in June, 68 from Switzerland

2016-08-16

by

2016-08-16

On a firmly rising gold price the UK is one of the largest net importers of gold in 2016. The gold price went up 25 % from $1,061.5 dollars per troy ounce on January 1 to $1,325.8 on June 31. Over this period the UK net imported 583 tonnes and GLD inventory mushroomed by 308 tonnes.

Read More »

FX Daily, August 12: Summer Markets Grind into the Weekend

2016-08-12

by

2016-08-12

There is a general consolidative tone in the capital markets as the week draws to a close. The US retail sales report may offer a brief distraction, but it is unlikely to significantly shift expectations about the trajectory of Fed policy. Indeed, it might not really change investors' information set.

Read More »

Silver Kangaroo Coins – Sales Surge To Over 10 Million

2016-08-02

by

2016-08-02

Silver kangaroo coins have seen sales surge to over 10 million coins which is double the expected demand for the year. Introduced to the market less than 11 months ago in September 2015 at a launch attended by GoldCore, sales of the new release Perth Mint’s 2016 Australian Kangaroo 1 ounce silver bullion coin were anticipated to reach 5 million coins in their introductory first year.

Read More »

FX Daily, August 01: Dog Days of August Begin

2016-08-01

by

2016-08-01

The US dollar is trading with a small upside bias in narrow trading ranges. The main news has consisted of PMI reports, while investors continue to digest last week's developments. In particular the BOJ's underwhelming response to poor economic data and a missed opportunity to reinforce the fiscal stimulus, and the dismal US GDP.

Read More »

US To Seize $1 Billion In Embezzled Malaysian Assets Which Goldman Sachs Helped Buy

2016-07-21

by

2016-07-21

The last time we wrote about the long-running saga of the scandalous collapse and constant corruption at the Malaysian state wealth fund, 1MDB, which also happened to be an unconfirmed slush fund for president Najib, was a month ago when we learned that the NY bank regulator was looking into fundraising by the fund's favorite bank, Goldman Sachs.

Read More »

The World’s Central Banks Are Making A Big Mistake

2016-07-20

by

2016-07-20

While everyone was talking about Brexit last month, the Bank for International Settlements released its 86th annual report. Based in Basel, Switzerland, the BIS functions as a master hub for all the world’s central banks. It settles transactions among central banks and other international organizations. It doesn’t serve private individuals, businesses, or national governments.

Read More »

Hans-Hermann Hoppe: “Put Your Hope In Radical Decentralization”

2016-07-19

by

2016-07-19

All major political parties in Western Europe, regardless of their different names and party programs, are nowadays committed to the same fundamental idea of democratic socialism. They use democratic elections to legitimize the taxing of productive people for the benefit of unproductive people. They tax people, who have earned their income and accumulated their wealth by producing goods or services purchased voluntarily by consumers (and of course...

Read More »

FX Daily, July 15: Sterling and Yen Remain Key Drivers in FX

2016-07-15

by

2016-07-15

The US dollar is broadly mixed against the major currencies. The Swiss franc's 0.25% gain puts it at the top of the board, after sterling's earlier gains were largely unwound in late-morning turnover. The yen is the weakest major; extending its loss by 0.6%, to bring the weekly decline to more than 5%. The pre-referendum result high for the dollar was near JPY106.85. Today's high has been about JPY106.30. In emerging markets, we note that the...

Read More »

Central Bank Wonderland is Complete and Now Open for Business — The Epocalypse Has Fully Begun

2016-07-14

by

2016-07-14

Summer vacation is here, and the whole global family has arrived at Central-Bank Wonderland, the upside-down, inside-out world that banksters and their puppet politicians call “recovery.” Everyone is talking about it as wizened traders puzzle over how stocks and bonds soared, hand-in-hand, in face of the following list of economic thrills:

Read More »

“The World Is Walking From Crisis To Crisis” – Why BofA Sees $1,500 Gold And $30 Silver

2016-07-11

by

2016-07-11

With both stocks and US Treasury prices at all time highs the market is sensing that something has to give, and that something may just be more QE, which likely explains the move higher in gold to coincide with both risk and risk-haven assets. As of moments ago, gold rose above $1,370, and was back to levels not seen since 2014.

Read More »

FX Weekly Preview: Sources of Movement

2016-07-10

by

2016-07-10

Electoral politics remains significant. BOE is likely to cut rates, while BoC may tilt more dovishly. US Q2 earnings season formally begins.

Read More »

Chinese Gold Demand 973 tonnes in H1 2016, Nomura SGE Withdrawals Chart False

2016-07-08

by

2016-07-08

Chinese wholesale gold demand, as measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), reached a sizable 973 metric tonnes in the first half of 2016, down 7 % compared to last year.

Read More »