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Goldman Is Selling The Last Of Its Stake In A Chinese Bank, And Communist Officials Are Probably Pretty Annoyed
Goldman Sachs bought a stake in the Industrial and Commercial Bank of China before it was cool — before it had the 2nd largest IPO in the history of the world in 2006, and before it was the largest bank in the world by market cap.
Initially, Goldman owned 4.9% of the bank, whose stock is [...]
Niclas Rolander
Wall Street Journal
May 20, 2013
Rioting youth torched cars and fought police in a Stockholm suburb into the early hours of Monday, injuring four police officers and causing substantial damage to property.
The rioting was caused by anger over the fatal police shooting of an elderly man in the Husby area a week ago, according to Megafonen, a local youth organization.
Police said between 60 and 100 persons, most of them young [...]
Chart: Wall Street Journal
http://www.zerohedge.com/news/2013-05-18/class-2013-most-indebted-ever
In a move considered aggressive by US and European officials, Russia has sent at least 12 warships to patrol waters near its naval base in Tartous, Syria.
The deployment appears to be a warning to Israeli and Western officials against military intervention in Syria’s bloody civil war, which has now claimed the lives of over 80,000 people.
Russia’s increased presence in the region — which began raising eyebrows in the US three [...]
Gregor Peter‏@L0gg0l2 min
ISRAELI SPECIAL FORCES CROSSING INTO #SYRIA, FOX NEWS VIDEO SHOWS
https://video.foxnews.com/v/video-embed.html?video_id=2387678544001
Russia Has Just Made Sure That Any US Deliveries Of Weapons To Syria Will Be Airborne
Russia has deployed upwards of a dozen ships to its naval base in Syria over the past three months, and recently sent advanced anti-ship missiles to the embattled Syrian government, highlighting the depth of Moscow’s commitment to the Assad regime and the challenges in [...]
News Channel “Fox News”, presented a video which shows IDF soldiers emerging from Syrian territory. Those who know and read between the lines, can understand that the story was probably in conjunction with the approval of the IDF and may aim to send a message to Assad.
Israel might strike Syria again soon, report says
The Wall Street Journal late Thursday cited US officials as saying that Israel could strike a weapon [...]
by Phoenix Capital Research
After the market’s close on Friday, Jon Hilsenrath at theWall Street Journal released an article implying that the Fed might remove or reduce its QE programs before the year end.
The reason this matters is because Hilsenrath is thought to be an unofficial mouthpiece for the Fed. Time and again he’s released articles hinting at the Fed’s future policies in advance. And many believe senior Fed officials such as Bernanke [...]
London Gold Market Report
from Ben Traynor, BullionVault
Monday 13 May 2013, 07:15 EDT
Precious Metals Fall as US Dollar Holds Gains, India’s New Import Restrictions “Could Cut Gold Imports by 50%”
SPOT MARKET gold bullion prices fell to $1430 an ounce Monday, 1.2% down on where they ended last week, as stock markets also fell and the US Dollar held onto most of its gains from last week.
Silver fell to $23.70 an ounce – [...]
No Volume, No Problem
Margin debt and the next stock market crash
The latest fear on Wall Street is that record levels of margin debt may end up toppling the stock market rally. NYSE margin debt recently reached its highest level since 2007 before the last major stock market peak and credit crash. Stephen Suttmeier, technical research analyst at Bank of America, noted that margin debt, rose 28% in March from a [...]
Word on the “street” is that there are trillions of unused, unwanted US dollars coming back to flood our markets in the next few weeks!!! Do with it what you will!
Funny… I didn’t see CNBC carry this story yet… I wonder why not…
Is this the reason the FED is going to be stopping QE?
The Fed Has Started Talking About Ending Its Economic Stimulus Program
Wall Street Journal reporter John Hilsenrath is [...]
Wall Street Journal reporter John Hilsenrath is so plugged in at the Federal Reserve that he has earned the nickname “Fed Wire.”
Whenever the Fed wants to start sending a new message to Wall Street, the story goes, they call up John Hilsenrath.
And then, thanks to Hilsenrath’s excellent articles, by the time the actual announcement comes out, it’s no big deal, because everyone already knows about it.
And now John Hilsenrath is reporting [...]
Israel has warned the United States that Russia plans to sell sophisticated missile systems to Syria that would complicate any foreign intervention there, the Wall Street Journal reported.
The Journal reported late Wednesday that Israel had provided information to Washington about the imminent sale to Syria of Russian S-300 missile batteries, advanced ground-to-air weapons that can take out aircraft or guided missiles.
Read more: http://www.businessinsider.com/russia-plans-to-sell-sophisticated-missile-systems-to-syria-2013-5#ixzz2SnITWC7H
By Paul B. Farrell, MarketWatch
Yes, flipping houses, your big new window of opportunity. Flipping commercials increasing on drive-time radio.
The Wall Street Journal reports “housing market accelerates … prices jump 9.3% in quickest rise since 2006, gains seen across country.” Over on 24/7WallSt.com you can see its coast-to-coast “10 Best Cities to Flip a House:” The New York/New Jersey/North East sector had average $118,376 profits on holdings of 118 [...]
From ETF Trends:
Risk and returns often go hand-in-hand, and income hunters who are willing to stomach a little more risk can look overseas for attractive dividends in globally focused exchange traded funds.
With the Federal Reserve depressing yields on U.S. government bonds, investors have branched out to riskier investments for yields. [Surveying the Dividend ETF Landscape]
“What we have is money that had typically gone to fixed income now coming into equities,” [...]
by Michael
Do you actually believe that the central banks of the world are going to sit back and do nothing while their monopoly over money creation is being threatened? Do you actually believe that the governments of the world are going to allow a digital currency that they have no control over to become “the future of money”? If so, then you are incredibly naive. Wars have been started over much [...]
by Charles Hugh-Smith
The entire financial management industry is a profit-skimming rentier arrangement.
It may seem uncharitable to note that only .4%–that’s 4/10th of 1%–of mutual fund managers outperform a plain-vanilla S&P 500 index fund over 10 years, but that is being generous: by other measures, it’s an infinitesimal 1/10th of 1%.
Most Hedge Funds Underperforming The S&P 500 For Fifth Year In A Row – Full YTD Performance (Zero Hedge)
Beginner’s Strategy: Investing in Low-Cost [...]
Taipei, April 16 (CNA) Unidentified lights have been seen over the Bohai Sea at night, which could be a sign that China is testing new nuclear missiles, Duowei News, a Chinese-language media based in New York, cited Chinese websites as reporting Tuesday.
The Bohai Sea is the innermost gulf of the Yellow Sea on China’s northeastern coast.
The Nezavisimaya Gazeta, a Russian newspaper, reported a day earlier that China must have developed [...]
by WashingtonsBlog
Ponzinomics
Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky, the Wall Street Journal and many others say that our entire economy is a Ponzi scheme.
Former Reagan budget director David Stockton just agreed:
So did a top Russian con artist and mathematician.
Even the New York Times’ business page asked, “Was [the] whole economy a Ponzi scheme?”
In fact – as we’ve noted for 4 years (and here and here) – the banking system is entirely insolvent. And so are most countries. [...]
While gun-control legislation is a politically risky vote for red-state Democrats, it’s also an issue that could hurt the GOP’s efforts to attract female voters.
A new NBC/Wall Street Journal poll shows that 65 percent of women favor stronger gun laws, compared to 44 percent of men. That’s consistent with previous polling; a recent Quinnipiac University poll showed 61 percent of women and 45 percent of men in favor stricter gun laws.
Richard Feldman, the Independent Firearms [...]
From Carpe Diem:
The Wall Street Journal reports on a fascinating new paper by Columbia University finance professor Charles Calomiris (“The Political Foundations of Scarce and Unstable Credit”), which is based on a forthcoming book he’s co-authored with Stephen Haber. Here are some excerpts from the WSJ article “Why Canada Can Avoid Banking Crises and U.S. Can’t”:
Since 1790, the United States has suffered 16 banking crises. Canada has experienced zero — not even during the [...]
by Michael
The big banks are breathlessly proclaiming that now is the time to sell your gold. They are warning that we have now entered a “bear market” for gold and that the price of gold will continue to decline for the rest of the year. So should we believe them? Well, their warnings might be more credible if the central banks of the world were not hoarding gold like crazy. During [...]
by GoldCore
Today’s AM fix was USD 1,581.50, EUR 1,207.16 and GBP 1,032.24 per ounce.
Yesterday’s AM fix was USD 1,572.50, EUR 1,205.26 and GBP 1,026.50 per ounce.
Gold climbed $12.20 or 0.78% yesterday to $1,584.70/oz and silver surged to a high of $28.06 and finished +2.68%.
Yen versus Currencies and Precious Metals, YTD –( Bloomberg)
Soros’ yen “avalanche” would appear to have begun with the yen having fallen by 9.5% against gold in 5 [...]
Former Treasury Secretary Hank Paulson spoke with Judy Woodruff in an interview airing on Bloomberg Television at 9:30 pm/ET this Friday. Paulson said that he “had to pinch himself” in reaction to the news that Fannie Mae generated record profits last year. “I could hardly believe what I was reading.”
Paulson also said that the U.S. needs to slow the growth of entitlement programs and raise more tax revenue by closing [...]
U.S. sees highest poverty spike since the 1960s, leaving 50 million Americans poor as government cuts billions in spending… so does that mean there’s no way out?
The number of Americans living in poverty has spiked to levels not seen since the mid 1960s, classing 20 per cent of the country’s children as poor.
It comes at a time when government spending cuts of $85 billion have kicked in after feuding Democrats [...]
From Newsmax:
Renowned commodities investor Jim Rogers is buying all the North Korean coins he can get his hands on.
At a recent coin fair in Singapore, an assistant for Rogers purchased 13 rare North Korean coins, typically featuring pictures of Korean generals,The Wall Street Journal reported.
“He wanted to buy more, but we only had 13 left,” a representative of the state-owned Korea Pugang Coin Corp. that sold gold and silver coins at [...]
An important premise of “The American Dream” is that a college education guarantees a successful career.
However, that dream is slipping away — unless being a coffee shop barista is the job goal. Ben Casselman of the Wall Street Journal takes a look at a recent job report for the latest crop of college graduates, which has some concerning numbers (hat-tip, a tweet from Iowahawkblog’s David Burge).
284,000: Number of American college [...]
by WashingtonsBlog
Was the Real Purpose of the Iraq War to Restrict Oil … So As to Raise Oil Prices?
U.S. Secretary of Defense Chuck Hagel, 4 Star General John Abizaid, Fed boss Alan Greenspan, President George W. Bush, Senator John McCain, Sarah Palin, Bush speechwriter David Frum, key war architect John Bolton, and a high-level National Security Council officer all say that the Iraq war was about oil.
Documents from Britain show the same thing.
But BBC and Guardian investigative reporter [...]
In an article titled, “Use of Food Stamps Swells Even as Economy Improves,” the Wall Street Journalreports that “The financial crisis is over and the recession ended in 2009. But one of the federal government’s biggest social welfare programs, which expanded when the economy convulsed, isn’t shrinking back alongside the recovery.”
The report continues, “Enrollment in the Supplemental Nutrition Assistance Program, as the modern-day food-stamp benefit is known, has soared 70% since 2008 to [...]
German Unemployment Comes In Worse Than Expected
The German labor market is still the envy of the world, but this particular monthly datapoint wasn’t quite as hot as expected.
Rather than a net creation of 2K jobs (as expected) it was actually a loss.
Read more: http://www.businessinsider.com/german-unemployment-comes-in-worse-than-expected-2013-3#ixzz2OpxKdaid
Cyprus Market‏@russian_market5 min
German 10-year drops to 1.255%: lowest since August 3, 2012
Cyprus Market‏@russian_market7 min
German March Unemployment rose adj 13.000 vs. est. 2.000 drop
CYPRIOT BANK OPEN DOORS
At 6:00 AM [...]
Still recovering from the backlash to its flawed Maps app, Apple is looking to beef up the iPhone’s indoor location capabilities by acquiring WiFiSlam. According to The Wall Street Journal, which first reported the deal, Apple paid $20 million to scoop up the two-year-old startup based in Silicon Valley.
As per usual for Apple, which made a splash when it bought Siri back in 2010, the company didn’t provide any details as to why [...]
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