asterisk2a + gold   107

Here's Why All Pension Funds Are Doomed, Doomed, Doomed
Given that both The Economist and The Wall Street Journal have covered the impossibility of pension funds achieving their expected returns, this reality cannot be a surprise to anyone in a leadership role. [...] Here's problem #1 in a nutshell: the average public pension fund still expects to earn an average annual return of 7.69%, year after year, decade after decade.

This is roughly triple the nominal (not adjusted for inflation) yield on a 30-year Treasury bond (about 2.65%). The only way any fund manager can earn 7.7% or more in a low-yield environment is to make extremely high risk bets that consistently pay off. //&! Millennials are first gen to have earned less in their 20's than previous gens. - bit.ly/2a9M98K
ZIRP  NIRP  QE  unintended  consequences  pension  obligation  triple-lock  pension  babyboomers  Baby  Boomers  demographic  bubble  ageing  population  hunt  for  yield  life  insurance  insurance  industry  monetary  policy  Helicopter  Money  monetary  theory  bond  bubble  Richard  Koo  liquidity  trap  economic  history  recovery  Fed  BOE  ECB  Abenomics  western  world  Japan  BOJ  pension  fund  Beton  Gold  Betongold  property  bubble  asset  allocation  funds  allocation  asset  bubble  Pensioner  pension  scheme  secular  stagnation  austerity  deflation  deflationary  Confidence  Fairy  IMF  OECD  credit  boom  credit  bubble  New  Normal  Great  Moderation  economic  harm  economic  damage  reflate  reflation  equity  bubble  distortion 
july 2016 by asterisk2a
Keiser Report: Gold & World’s Debt Problems (Summer Solutions series E940) - YouTube
deflationary trap/liquidity trap - orthodox monetary policy w austerity = stagnation. & west is exporting deflation. // if it is good for consumers ... break up banks. // hedging is BS ... you double the system you double the risk. [...] banks are now bigger! ... ban most derivatives, and reintroduce glass stegall // Black-Schoeles - there is no such think as risk free rate and no such thing as the past reflect the future. risk is not equally distributed. [...] VAR is flawed. //
deflation  deflationary  NIRP  currency  war  currency  debasement  ZIRP  QE  Helicopter  Money  secular  stagnation  western  world  Abenomics  BOE  BOJ  Fed  ECB  economic  history  Richard  Koo  liquidity  trap  debt  overhang  balance  sheet  recession  consumer  debt  household  debt  mortgage  mortgage  market  mortgage  rates  distortion  hunt  for  yield  credit  boom  credit  bubble  PBOC  China  reflate  reflation  squeezed  middle  class  wage  growth  income  growth  income  distribution  income  disparity  working  poor  Precariat  Brexit  GFC  too  big  to  jail  productive  investment  underinvestment  austerity  history  productivity  gap  financial  instruments  investment  banking  global  economy  globalisation  globalization  derivatives  output  gap  productivity  recovery  neoliberal  neoliberalism  Chicago  School  neoclassical  economics  deregulation  Wall  Street  speculative  bubble  property  bubble  Beton  Gold  Betongold  stagnation  aggregate  demand  aggregate  demand  short-fall  too  big  to  bail  too  big  to  fail  TBTF  complexity  systemic  risk  systemrelevant  systemicrisk  systemrelevanz  zombie  bank  zombie  banks  non-performing  loan  leverage  hedge  Glass-Steagall  Black-Scholes  Equation 
july 2016 by asterisk2a
Bundesbank head Jens Weidmann - Brexit is no excuse to loosen EU budget rules
Reuters report that this puts Weidmann at odds with German Economy Minister Sigmar Gabriel, who has called for Europe's "Stability and Growth Pact" to be boosted for more growth.
-
So, we've got a politician wanting to spend more.
And the head of the Buba saying "No!"

Same old :-D //&! http://news.forexlive.com/!/germany-will-stick-to-balanced-budget-report-20160701
lost  decade  Brexit  fiscal  stimulus  fiscal  policy  BuBa  Bundesbank  ECB  MarioDraghi  trichet  Angela  Merkel  austerity  budget  deficit  Germany  Pact  Schuldenbremse  Wolfgang  Schäuble  liquidity  trap  Mark  Blyth  economic  history  inflation  targeting  inflation  expectation  inflation  expectations  recovery  Jens  Weidmann  monetary  policy  global  economy  Schwarze  Null  Exportweltmeister  Beton  Gold  Betongold  ZIRP  NIRP  QE  distortion  Richard  Koo  European  Union  zombie  bank  zombie  banks  NPL  PIGS  non-performing  loan  underinvestment 
july 2016 by asterisk2a
Brexit: Singapore bank UOB suspends London property loans
"With foreign exchange risks, even if the value of the overseas property rises, any gains will be eroded if the country's currency depreciates against the Singapore dollar," Mr Tok explained. // Chinese (and Asian) love their Betongold (most likely to be around 50% of their portfolio). Now in the hole because GBP lost 10%. But doesn't account for Yuan depreciation/devaluation.
Forex  GBP  devaluation  British  Pound  FX  Brexit  property  bubble  London  speculative  bubble  asset  bubble  asset  allocation  distortion  hunt  for  yield  Interest  Rate  Swap  Beton  Gold  Betongold 
june 2016 by asterisk2a
Canada Overwhelmed By 100,000 Chinese Millionaire Immigrants - YouTube
Flaunting your wealth. No connection w your culture and heritage. [...] also land taxes based on property value make it not affordable for some ... [...] Chinese love their property, half of their wealth/portfolio ... // http://www.theglobeandmail.com/report-on-business/top-business-stories/canadian-house-prices-from-overvaluation-to-downright-zany/article30535075/ &! http://www.cbc.ca/news/business/canada-banks-mortgage-1.3643793 - Canadian banks could survive a 25% house price decline, Moody's says. Banking system would be fine even if Toronto and Vancouver see a crash, ratings agency says.
Beton  Gold  Betongold  Canada  USA  China  property  bubble  real  estate  bubble  UK  globalisation  globalization  immigration  economic  history  asset  allocation  affordability  affordable  housing  social  housing  Generation  Rent  rent-seeking  rentier  ZIRP  NIRP  QE  BOC  secular  stagnation  migration  valuation  asset  bubble  asset  liquidity  distortion  distorted  Germany  1%  Super  Rich  Gini  coefficient  inequality  Latin  America  BRIC  emerging  middle  class  India  Asia 
june 2016 by asterisk2a
Capitalism and Mental Health: How the Market Makes Us Sick
POVERTY TRAP! // we were never as miserable as a nation as ever before.
profit  maximisation  profit  maximization  underinvestment  austerity  shareholder  capitalism  capitalism  in  crisis  capitalism  capitalist  working  poor  Precariat  squeezed  middle  class  status  anxiety  materialism  consumerism  consumerist  well  being  mental  health  burnout  work  life  balance  exploitation  exploited  part-time  part-time  employment  Contractor  self-employment  Soziale  Marktwirtschaft  cortisol  poverty  trap  poverty  child  poverty  low  pay  low  income  shareholder  value  Wall  Street  disposable  income  discretionary  spending  Robert  Skidelsky  Slavoj  Žižek  Disabled  vulnerable  DWP  WCA  Iain  Duncan  Smith  Stephen  Crabb  George  Osborne  David  Cameron  public  health  public  health  policy  public  health  risk  liberal  economic  reform  neoliberal  neoliberalism  JSA  sanctions  Food  Bank  self-medication  substance  abuse  abuse  alcohol  abuse  alcoholism  binge  drinking  coping  mechanism  GP  health  care  cost  health  care  demand  NHS  homeless  homelessness  Housing  Generation  Rent  UK  USA  precarious  work  precarious  employment  isolation  child  protection  education  policy  Self-esteem  sociology  psychology  Wertegesellschaft  Gesellschaft  values  Gentrified  Gentrifzierung  gentrification  Beton  Gold  Betongold  urban  planning  urbanisation  rat  capitalism  class  economic 
april 2016 by asterisk2a
What Happens Next (In Europe)?
the odds of another crisis are higher than a rally to fresh records. [...]
“The 2009-2015 rally originated from two main drivers: a massive stimulus, and credit expansion in China,” said Goette, who’s a partner at his firm in Zug, Switzerland and helps oversee 1 billion Swiss francs ($1 billion).

“European earnings have not followed suit so far. Skepticism regarding central-bank operations has started to emerge.”
ECB  Brussels  recovery  reflate  reflation  China  credit  bubble  Germany  PIGS  zombie  banks  European  Bank  Supervision  European  Economic  Area  European  Election  2014  working  poor  squeezed  middle  class  Soziale  Marktwirtschaft  MarioDraghi  OMT  LTRO  monetary  policy  monetary  stimulus  Fiscal  Pact  Schuldenbremse  sovereign  debt  crisis  France  Brexit  Grexit  Angela  Merkel  Wolfgang  Schäuble  history  underinvestment  Richard  Koo  Yanis  Varoufakis  liquidity  trap  zombie  corporations  youth  unemployment  demographic  bubble  OAP  discretionary  spending  disposable  income  liberal  reform  Precariat  precarious  employment  low  pay  low  income  Minijob  Zeitarbeit  Leiharbeit  1  Euro  Job  Structural  Impediments  imbalance  unemployment  monetary  transmission  mechanism  monetary  union  union  Rechtsruck  Bundesbank  fault  lines  shareholder  capitalism  bailout  GFC  2016  PBOC  Exportweltmeister  zombie  Financial  Stability  Board  crony  capitalism  Deutsche  Bank  infrastructure  investment  competitiveness  Beton  Gold  Betongold  asset  allocation  Super  Rich  1%  oligarchy  plutocracy  democracy  tax  evasion  tax  avoidance  Wall  Street  shareholder  value  profit  maximisation  profit  maximization  Russia  Crimea  Ukraine  U 
april 2016 by asterisk2a
Yanis Varoufakis: »MONEY AND POWER«, Public Lecture 2015-11-04
3rd bailout loan $0 went to Greece. All to pay off banks. extend & pretend. 1st: ~90% went to the banks. [...] ESM does not exist [...] banking union plan not progressing at all. //&! Yanis Varoufakis @Oxford Union - youtu.be/zWB6lY2GBjQ - ACADEMIA LACKS ANTI-ESTABLISHMENT ATTITUDE! Because going against the grain has become anti-reputation. [...] it's all about expectations, predictions about where S&P500 will be in 12 months. [...] regression between theory and reality. economists have never been humble. [ see Wall Street cottage factory of analysis and prediction shops ] [...] if you torture the data and model enough it will confess. [< EU monetary union based on theory ] [...] [34:00] Brussels is technically incompetent and will not reform itself. I am a libertarian marxist. Schumpeter. true creative destruction. great wealth currently created - all going to 1%. = not humanitarian. not democratic. [...] 41:00 Q&A, <48:50> gov budget not same as household budget; George Osborne.
bank  crisis  banking  crisis  European  Election  2014  sovereign  debt  crisis  austerity  Grexit  Yanis  Varoufakis  Tsipras  Syriza  Brussels  Wolfgang  Schäuble  Angela  Merkel  GFC  Great  Depression  credit  crisis  credit  creation  Super  Cycle  debt  overhang  liquidity  trap  ECB  Troika  MarioDraghi  economic  history  Richard  Koo  leverage  recovery  deflation  deflationary  Fiscal  Pact  Schuldenbremse  Germany  underinvestment  Super  Rich  reflate  reflation  Generationengerechtigkeit  1%  oligarchy  plutocracy  No  Representation  Career  Politicians  balance  sheet  recession  Euro  Gold  Standard  ESM  IMF  OECD  banking  union  EEA  Economics  Academia  Academics  Economists  Scholars  Soziale  Marktwirtschaft  income  distribution  inequality  Gini  coefficient  Gesellschaft  society  Yanis  Varoufakis  financial  crisis  economic  model  econometrics  social  theory  monetary  union  Chicago  School  poverty  economic  history  austerity  George  Osborne  David  Cameron  UK  nasty  party  Richard  Koo  macroeconomics  macroeconomic  policy  macroprudential  policy  aggregate  demand  Capital  Expenditure  income  tax  receipts  deflation  deflationary  Universal  Basic  class  warfare 
april 2016 by asterisk2a
Yanis Varoufakis Candid Interview - Shocking Disfunction and The Power Of Oligarchs
Europe will not survive next crisis. [...] end of interview - China looked after the rest of the world and especially Germany after 2009 (credit bubble) as USA looked after Germany in the 50's - Wirtschaftswunder. Now China is trying its best not to implode and fall below 5% of growth per annum. And now USA is trying to contest Asia (excluding China) economically and militarily through TPP and military increase in that region. //&! Yanis Varoufakis - Guardian Live - youtu.be/md6_WfF9Ky0
Grexit  Troika  IMF  oligarchy  plutocracy  Greece  corruption  bribery  Yanis  Varoufakis  Tsipras  referendum  Wolfgang  Schäuble  Angela  Merkel  Brussels  European  Union  Gold  Standard  economic  history  liberal  economic  reform  antitrust  cartel  tax  evasion  tax  avoidance  Schwarzgeld  Schwarze  Kassen  Schwarzkasse  ChristineLagarde  Panama  Papers  revolving  door  lobby  No  Representation  Career  Politicians  trust  far-right  right-wing  sovereign  debt  crisis  ECB  MarioDraghi  banking  crisis  bank  bailout  GFC  democracy  neoliberal  neoliberalism  shareholder  capitalism  crony  capitalism  Chicago  School  China  credit  bubble  BRIC  USA  Hegemony  TTIP  TPP  geopolitics 
april 2016 by asterisk2a
Inflation: Vermögenspreise stiegen 2015 im Rekordtempo - SPIEGEL ONLINE
Wohl dem, der Immobilien, Anteile an Familienfirmen oder Sammlerobjekte besitzt. Die Preise für Vermögenswerte sind 2015 so stark gestiegen wie kaum je zuvor. Schlechter sieht es für Normalsparer aus.
financial  repression  distortion  hot-money  Betongold  Beton  Gold  Germany  speculative  speculation  asset  allocation  ZIRP  NIRP  QE  income  distribution  hunt  for  yield  property  bubble  UK  foreign  direct  investment  credit  bubble  reflate  reflation  monetary  policy  austerity  fiscal  policy  secular  stagnation  demographic  bubble  emerging  middle  class  equity  bubble  speculative  bubbles  economic  history 
february 2016 by asterisk2a
Bank of England: Bitcoin is "Harder Money" than Gold Due to Deflation – Bitcoin Magazine
During a presentation on digital currencies entitled “Old Money, New Money,” Andy Haldane, Chief Economist & the Executive Director of Monetary Analysis and Statistics of the Bank of England and his team stated that “Digital currencies are ‘harder money’ than a gold standard” because “sustained adoption [of bitcoin] would see ongoing deflation.” [...] 2 million UK adults do not have bank accounts and 2.5 billion people in the world have no access to financial services, said Haldane. However, given the estimate that 80% of the world’s population will own a smartphone within 5 years, Haldane believes that many could turn toward digital currency to store their savings. // &! bit.ly/1U0UYMM - Enabling New Internet Applications (no transaction minimum, no transaction fee) // &! W3C toEstablish Online Payment Standards - bit.ly/1Nye7py - Internet pioneers such as Ted Nelson, Marc Andreessen & Berners-Lee himself thought that the Internet should have a built-in framework for micropayments.
Bitcoin  deflationary  deflation  fiat  currency  fiat  money  monetary  policy  Gold  Standard  economic  history  FinTech  underbanked  emerging  market  Developing  World  W3C  micropayment  micropayments  payment  payment-system  payments  PayPal  Braintree  Stripe  Amazon  Google  Google  Wallet  creditcard  oligopoly  oligopol  banking  crisis  banking  fractional  reserve  banking  financial  market  barriers  to  entry  cost  of  entry 
august 2015 by asterisk2a
Immobilien: Wohnungspreise steigen schneller als die Mieten - SPIEGEL ONLINE
In Relation zum Kaufpreis lässt sich in diesen Städten mit den Mieteinnahmen bisweilen kaum noch Rendite erwirtschaften. Viele Käufer werden offenbar allein von der Aussicht auf weitere Preissteigerungen angelockt - die klassische Definition einer Spekulationsblase.
hunt  for  yield  fear  anxiety  Betongold  Beton  Gold  Germany  speculative  bubbles  speculative  property  bubble  ZIRP  NIRP  QE  asset  allocation  ECB  recovery  sovereign  debt  crisis  PIGS  economic  history  Europe  gentrification  Gentrified  Berlin  urbanisation  urban  planning  ROI 
may 2015 by asterisk2a
Inside Out London - The Great Property Race
London, one of the most expensive places on earth to live. // Inside Out London - The Great Property Race - Mark Jordan joins first-time buyers and cash-rich Chinese investors as they race to buy homes in the capital's fast, furious and often cruel market. >> London-mania, speculation, ASIAN individual investors leave flats empty & sell them again after 12-18m after much appreciation of value. Buying just based on the prospect & not one stone put down or even speculating on green fields planning permission 5 years down the road. Insane. // &! Existing owners building owners are in a Millionaire Basement Wars - bbc.co.uk/programmes/b05r86yg // Think about all that money being invested long-term into productive investments (STEM) creating current & future opportunity. Lowering the output & productivity gap of UK! Once, a high rise is finished, there are no jobs there that generate tax income from revenue/profit generation - that of a worker or company of the 21st century.
speculative  bubbles  Super  Rich  1%  London  London  Start-up  Scene  distortion  ZIRP  NIRP  hunt  for  yield  QE  secular  stagnation  savings  glut  incomplete  information  economic  history  liquidity  trap  asset  bubble  Wall  Street  ASIA  affordable  housing  property  bubble  UK  Betongold  Beton  Gold  bond  bubble  debt  bubble  zombie  corporations  zombie  banks  productive  investment  macroprudential  policy  BOE  BOJ  Private  Equity  symptom  unintended  consequences  recovery  productivity  output  gap  STEM  Future  of  Work  Mobile  Creatives  Mobile  Creative  Makers  short-term  thinking  short-term  view  policy  folly  policy  error  No  Representation  Career  Politicians  borderless  globalisation  globalization  flat  world  job  creation  research  human  progress  Philosophy  status  anxiety  superficial 
april 2015 by asterisk2a
Wirtschaftskrise: Deutsche Wirtschaft mit starkem Export ist anfällig - SPIEGEL ONLINE
Typischerweise produzieren dominante ökonomische Narrative zuerst Illusionen und dann große Probleme. Wo eine Geschichte von Marktteilnehmern, Regulierern und Beobachtern vorbehaltlos akzeptiert wird, ist der Boden bereitet für Irrtümer, die uns am Ende Kopf und Kragen kosten können, wie ich meinem neuen Buch argumentiere. >> Die Politik des billigen Geldes verzerrt die Wirtschaftsstrukturen .... - die deutsche Wirtschaft unterfinanziert & Dass die Politik des ultrabilligen Geldes die Wirtschaftsstrukturen verzerrt, auch hierzulande. [CreditCrunch/transmission mechanism broken/hunt for yield/betongold/no-investments] +++ die Digitalisierung auch die produktionslastige deutsche Wirtschaft fundamental durcheinanderwirbeln wird. [Year of Code/Education Policy/Human Capital - high ed imigrants/Mobile Creatives/Share Economy] +++ Spiegel 37/2014 "Deutschland der Scheinriese" Cover Story
GFC  bubble  property  bubble  bubbles  economic  history  economics  society  storytelling  narrative  journalism  journalismus  PIGS  UK  USA  Germany  Exportweltmeister  flat  world  globalisation  globalization  exports  export  Europe  Structural  Impediments  imbalance  faultlines  competitiveness  competitive  competitive  advantage  comparative  advantage  2014  Career  Politicians  short-term  thinking  short-term  view  long-term  thinking  long-term  view  Policy  Makers  error  folly  trust  trustagent  confidence  accountability  ZIRP  NIRP  QE  ECB  monetary  fiscal  LTRO  OMT  ABS  unconventional  monetary  monetary  transmission  mechanism  business  investment  infrastructure  investment  distortion  Wall  Street  centralbanks  IMF  IBS  liquidity  trap  creditcrunch  unintended  consequences  complexity  unknown  unkown  unknown  unknowns  blackswan  Black  Swan  Betongold  Beton  Gold  Future  of  Work  Mobile  Creative  Mobile  Creatives  Year  of  Code  education  Public  Policy  hunt  for  yield  human  capital  immigration  demographics  demographic  bubble  demography 
september 2014 by asterisk2a
BBC News - ECB cuts rates and launches stimulus programme
1-Day Before: http://youtu.be/_6D_xVeoIXs "ECB faces crunch on deflation threat" +++ The ECB has cut its benchmark interest rate to 0.05%, and introduced new stimulus measures. The ECB had earlier cut its rate from 0.25% to 0.15% in June, and also became the first major central bank to introduce negative interest rates. It will also launch an asset purchase programme, which will buy debt products from banks. It is hoped this move will add liquidity to the financial system and revive lending. [...] "[A] last roll of the dice". "The ECB has now almost exhausted its ammunition for preventing the Eurozone sliding into a devastating deflationary, contractionary spiral," +++ Analysis: http://youtu.be/IErml4SmKmE "European banks – Work those ABS" +++ bit.ly/1A6pmLU - France and Friends: Merkel Increasingly Isolated on Austerity "Europe ... is threatened with lasting weak growth should the deficit rules continue to be strictly interpreted. [ BuBa demands higher wages, ECB fiscal stimulus ]."
ABS  OMT  LTRO  ECB  monetary  transmission  mechanism  monetary  policy  unconventional  monetary  policy  austerity  PIGS  faultlines  Structural  Impediments  IMF  Germany  BuBa  deflation  deflationary  communication  zombie  banks  confidence  trustagent  trust  balance  sheet  recession  fiscal  policy  QE  bond  bubble  deleveraging  lost  decade  lost  generation  SME  SMB  Mittelstand  creditcrunch  creditcrisis  economic  history  debtoverhang  NPL  EuropeanSystemicRiskBoard  riskaversion  ZIRP  NIRP  negative  real  interest  rate  secular  stagnation  Makers  policy  error  policy  folly  Career  Politicians  inflation  expectation  stagnation  Betongold  Beton  Gold  hunt  for  yield  unintended  consequences  complexity  incomplete  information  France  liberal  economic  reform  Stability  Pact  Italy  academics  academia  deficit  budget  deficit  fiscal  deficit  wage  growth  wage  inflation  fiscal  stimulus  Wolfgang  Schäuble  Angela  Merkel  Sick  Man  of  Europe  infrastructure  investment  investment  business  investment  labor  market  reform  recovery 
september 2014 by asterisk2a
Gefahr durch Niedrigzinsen - YouTube
ZIRP  NIRP  QE  asset  bubble  speculative  bubbles  Wall  Street  bond  bubble  PIGS  Fed  ECB  BOJ  Abenomics  BOE  GFC  unintended  consequences  unknown  unknowns  Europe  UK  USA  monetary  policy  unconventional  monetary  policy  monetary  transmission  mechanism  risk  taking  EuropeanSystemicRiskBoard  creditrisk  hunt  for  yield  deflation  deflationary  secular  stagnation  2014  balance  sheet  recession  deleveraging  Betongold  Beton  Gold  debtoverhang  Debt  Super  Cycle  sovereign  crisis  property  bubble  Germany  monetization  monetisation  NPL  IBS  zombie  banks  recovery  greatrecession  Structural  Impediments  deficit  unemployment  imbalance  faultlines  output  gap  productivity 
august 2014 by asterisk2a
Wachstum schwach wegen Innovationen und Investitionen - SPIEGEL ONLINE
Die Währungsmanager stecken in einer unkomfortablen Lage: Die EZB erreicht das Ende ihrer Handlungsfähigkeit. Die kurzfristigen Zinsen hat sie bereits auf knapp über Null gesenkt, Einlagen bei der EZB werden sogar mit einer Strafgebühr geahndet. Mit ihrem neuen Programm zur zweckgebundenen Liquiditätsvergabe greift sie auch noch direkt ins Kreditgeschäft der Geschäftsbanken ein. Trotzdem erholt sich die Wirtschaft nur äußerst schleppend - mit dem Ausnahmefall DE. [...] Offenkundig befinden wir uns auf einem Abstellgleis der kapitalistischen Entwicklung. Derzeit ist die These von der "säkularen Stagnation" populär, von mehreren Dekaden mit niedrigem Wachstum, die vor uns liegen. Dazu scheinen die ultraniedrigen Zinsen in der EU, den USA und Japan zu passen. Aus diesem Blickwinkel zeigen langfristige Sätze nahe Null an, dass es kaum noch sinnvolle Investitionsmöglichkeiten gibt - dass zu wenige Unternehmen existieren, die ordentliche Renditen versprechen. [have to build pillars 4 future]
ECB  liquidity  trap  ZIRP  NIRP  hunt  for  yield  Germany  Europe  Structural  Impediments  imbalance  PIGS  BuBa  monetary  policy  unintended  consequences  NPL  unknown  unknowns  complexity  monetary  transmission  mechanism  sovereign  debt  crisis  Super  Cycle  Richard  Koo  balance  sheet  recession  debtoverhang  deleveraging  economic  history  USA  Japan  UK  Fed  BOE  productivity  output  gap  Future  of  Work  Mobile  Creative  Mobile  Creatives  working  poor  squeezed  middle  class  Gini  coefficient  social  mobility  income  mobility  income  inequality  1%  Super  Rich  secular  stagnation  stagnation  deflation  deflationary  infrastructure  investment  investment  climate  change  Energiewende  knowledge  worker  long-term  thinking  long-term  view  Berlin  Start-Up  Scene  Silicon  Valley  Europe  Start-Up  Scene  education  policy  Makers  policy  folly  policy  error  Career  Politicians  Beton  Gold  Betongold  demographic  bubble  speculative  bubbles  equity  bubble  property  bubble  bond  bubble 
august 2014 by asterisk2a
Der Crash ist die Lösung | SWR1 Leute - YouTube
banks still TBTF, Systemrelevant. << enabled by Own Lobby influencing Career Politicians. haftungsgarantien von ECB are no more capitalism. +++ &&& +++ If even Germany - Wirtchaftslokomotive - export meister - does still have a budget deficit, while being that country that produces more than it consumes, who else if not Germany? But still doesn't. +++ "Die Zeit der Rendite ist vorbei." +++ Schulden zu haben, man ist nicht frei. Frueher hat man das sich gekauft was man sich leisten konnte, ohne kreditkarte, ohne dispo, ohne bankkredit. +++ NEW crash will come of even bigger proportion and even more rubble to clear up afterwards than 2008/9 - GFC. +++ Always buy in tranches, dispersed over time. +++ fractional reserve banking leads to this UBER crash as we live on a planet with finite resources. Current GDP fetish needs to stop. Change of mind, thinking, course. << this is the same with Mobile Creative, future workforce, Software eats the world, UK's productivity gap.
book  GFC  Debt  Super  Cycle  jubilee  sovereign  crisis  liquidity  trap  investigative  journalism  journalismus  monetization  private  consumer  bubble  monetisation  public  household  balance  sheet  recession  PIGS  Europe  lostdecade  lost  decade  lost  generation  greatrecession  greatdepression  toobigtofail  TBTF  OTC  derivatives  systemrelevant  Systemrelevanz  toobigtojail  Career  Politicians  accountability  transparency  Politics  Democratic  Process  democracy  short-term  thinking  long-term  thinking  financial  industry  LIBOR  rigging  scandal  trust  trustagent  confidence  corporatism  crony  capitalism  Lobbying  lobbyist  lobby  revolving  door  IMF  IWF  centralbanks  economic  history  capitalism  Thomas  Piketty  ECB  EZB  OMT  faultlines  budget  deficit  structural  deficit  Impediments  structural  imbalance  history  financial  repression  New  Normal  ZIRP  NIRP  QE  Beton  Gold  property  bubble  fragile  world  fagile  financial  system  external  shock  balckswan  monetary  stimulus  hunt  for  yield  speculative  bubbles  growth  round  equity  bubble  credit  bubble  asset  bubble  bond  bubble  Island  Agentina  Japan  UK  fractional  reserve  banking  GDP  economic  model  fiat  currency  fiat  money  USA  academia  acade 
june 2014 by asterisk2a
Dax knackt 10.000 Punkte: Rekord wegen billigen Gelds von EZB - SPIEGEL ONLINE
Erstmals überspringt der Dax die Marke von 10.000 Punkten. Das beweist erneut, wie sehr der deutsche Leitindex vom billigen Geld der Notenbank abhängig ist - und wie schnell die gute Stimmung an der Börse vorbei sein kann. + http://www.spiegel.de/wirtschaft/unternehmen/dax-steigt-ueber-10-000-punkte-auf-neuen-rekordstand-a-972849.html + http://www.spiegel.de/wirtschaft/unternehmen/geldanlage-bei-niedrigzinsen-gold-immobilien-einen-jaguar-a-973671.html ""Wohin also jetzt mit den Ersparnissen?"" +++ Spekulationsblasen: Wirtschaftsweiser warnt vor Gefahren der Niedrigzinsen - http://www.spiegel.de/wirtschaft/ezb-wirtschaftsweiser-wieland-warnt-vor-spekulationsblasen-a-975400.html +++ Niedrigzinsen: Schäuble befürchtet Immobilienblase in Deutschland - http://www.spiegel.de/wirtschaft/soziales/zinsen-schaeuble-befuerchtet-immobilienblase-in-deutschland-a-976154.html
asset  bubble  Betongold  Beton  Gold  ZIRP  QE  OMT  ECB  BOE  BOJ  Fed  monetary  policy  unconventional  monetary  policy  monetary  stimulus  asset  allocation  property  bubble  London  PIGS  monetary  transmission  mechanism  liquidity  trap  liquidity-trap  zombie  consumer  zombie  corporations  zombie  banks  Europe  sovereign  debt  crisis  Super  Cycle  hunt  for  yield  New  Normal  financial  repression  2014  MarioDraghi  BuBa  Bundesbank  banking  union  unintended  consequences  unknown  unknowns  complexity  macroprudential  policy  Politics  Career  Politicians  policy  folly  policy  error  austerity  fiscal  policy  Structural  Impediments  unemployment  faultlines  imbalance  recovery  greatdepression  greatrecession  lost  decade  lost  generation  speculative  bubbles  equity  bubble  credit  bubble  debt  bubble  bond  bubble  Wolfgang  Schäuble 
june 2014 by asterisk2a
SPIEGEL.TV - Landflucht der Deutschen
+ property price bubble in cities. but no end in sight because underlying trend is demographic change and the move to the city, the move where employers are. thus it is a generational change, a change that is structural, ...
Betongold  Beton  Gold  demographic  bubble  demographics  demography  Germany  property  bubble  urbanisation  urban  planning  structural  change  generational  change  Leipzig  Frankfurt  am  Main  Strukturschwach 
march 2014 by asterisk2a
BBC News - Gene doping: Sport's biggest battle?
This could be a battle like no other in sport. The authorities are so concerned, they have been preparing for it for more than 10 years. But it is still unclear whether they have the tools to test for it - or whether anyone has done it successfully. It is gene doping. [...] The authorities, the athletes, the fans may need to agree a whole new definition of what we want sport to mean.
gene  doping  doping  Anti-Doping  WADA  Price  of  Gold  elite  sports  elite  athlete 
january 2014 by asterisk2a
Olympia-Aus für Lindsey Vonn: Das Ende einer Irrfahrt - SPIEGEL ONLINE
Im November wollte Vonn ihr Comeback geben. "Ich fühle mich frisch und trainiere hart. Alles ist perfekt", sagte sie. Doch beim Training in Copper Mountain verletzte sie sich erneut. Zuerst hieß es, ihr Kreuzband sei angerissen. Erst später, nach ihrem Aus bei der Weltcup-Abfahrt in Val d'Isère im Dezember, machte sie öffentlich, dass das Kreuzband komplett gerissen war. [...] Vonn stand im Zentrum der PR-Kampagne der NBC. Als die Skirennfahrerin vor vier Jahren Abfahrtsgold holte, freute sich der Sender über die besten Einschaltquoten bei Winterspielen seit 1994. Womöglich fühlte sich Vonn deshalb verpflichtet, bis zum letzten Moment und gegen jede Vernunft für die Teilnahme an den Spielen in Sotschi zu kämpfen. Eine Operation? Wäre danach immer noch möglich gewesen. Auch Spekulationen, der Sender habe Druck auf Vonn ausgeübt, halten sich hartnäckig. + http://www.spiegel.de/video/selbstbewusster-schweinsteiger-laesst-sich-zeit-beim-comeback-video-1318976.html
ACL  Price  of  Gold  elite  sports  elite  athlete  NSAID  Lindsey  Vonn  brand  brands  personal  brand  branding  Sponsoring  Sponsorship  Perception  celebrity  culture  Pop  Gossip 
january 2014 by asterisk2a
Hamburg, München, Berlin: Mieten in Großstädten steigen weiter - SPIEGEL ONLINE
Ursache sei vor allem die Wohnungsknappheit in den Städten, in die immer mehr Menschen zögen. Die Entwicklung gebe es aber bereits seit einigen Jahren. "Nach mehreren Jahrzehnten stagnierender Immobilienpreise befindet sich der deutsche Immobilienmarkt seit 2010 in einer Boomphase", teilte das Institut mit. Die höchsten Mietpreissteigerungen habe es seit Anfang 2010 in Berlin, München, Freiburg, Ulm und Wolfsburg gegeben.
unintended  consequences  ZIRP  Beton  Gold  QE  hunt  for  yield  asset  bubble  speculative  bubbles  Germany  NIRP  negative  real  interest  rate  ECB  2013  urbanisation  Gentrified  urban  planning  demographics  demography  Demographic 
december 2013 by asterisk2a
OtterWood Observations on Japan, May 2013 - YouTube
As the BoJ prepares to thrill us with even moar in its latest policy meeting (or not as we discussed earlier) and with Amari et al. now jawboning JPY to some extent to control the out-of-control chaos in JGBs, it is perhaps worth taking 20 minutes to comprehend just what all this extreme policy action means. The following brief presentation covers it all in a Kyle-Bass-ian facts-and-fallacies manner, Christine Hughes sums it all up perfectly, for Japan, "The Math Is Stacked Against Japan - It's Not 'If', It's When." >> "The Math Is Stacked Against Japan - It's Not 'If', It's When" >> - 5 year time horizon - + http://www.businessinsider.com/kyle-bass-warns-against-japanese-stocks-2013-4 + http://www.creditwritedowns.com/2013/04/kyle-bass-gets-it-wrong-on-japanese-bonds.html "The bond vigilante stuff is a myth."
currency  debasement  monetary  policy  bond  bubble  currency  war  bond  vigilante  GFC  reflation  unintended  consequences  New  Normal  Yen  BOJ  currency-war  Gold  Abenomics  lostdecade  debtoverhang  QE  JGB  NIRP  financial  repression  economic  history  Debt  Super  Cycle  Carry  Trade  monetisation  bubble  sovereign  crisis  hunt  for  yield  ZIRP  inflation  monetization  Japan 
may 2013 by asterisk2a
Marc Faber: "Something Will Break Very Badly" | Zero Hedge
Q: Is it a good time to buy gold? Faber: Nobody knows whether it’s a good time to buy gold or not…as I have repeatedly said in my reports, I buy gold every month and on the recent decline I bought more at $1,400 and I have an order at $1,300 and one at $1,200 and one at $1,100 an ounce. But they were not filled, just the $1,400.   I will never sell my gold, as I repeatedly told people. .... My maximum allocation to gold at present time is 25 per cent of assets.” [...] "In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up... Something will break very bad."
QE  ZIRP  NIRP  2013  greatdepression  GFC  bubbles  asset  allocation  Gold  unintended  consequences  greatrecession  wealth  management 
may 2013 by asterisk2a
El-Erian's Summary: "Virtually Every Market Is Trading At Very Artificial Levels" | Zero Hedge
http://live.wsj.com/public/page/embed-85F75B51_F954_46E1_861D_EC47CC278296.html >> "if these levels aren’t validated by the fundamentals, then investors will get hurt." WORTH LISTENING EVERY MINUTE. > http://www.zerohedge.com/news/2013-04-16/not-what-low-volatility-environment-looks > http://www.zerohedge.com/news/2013-04-16/margin-clerks-were-working " Long experience in the markets will inform you that this kind of massive sell-off is indicative of someone or perhaps a numbers of someones with serious problems. " [...] The markets can turn on a dime and the move can be severe and painful. [...] The cash provided by the Central Banks has been leveraged to the nines as indicated by the severity of the sell-off in both gold and equities. > Europe lost out on design and execution to overcome crisis. > Rating Agencies have monopoly. With monopoly comes problems. > Trust, but verify.
unemployment  monetary  policy  bond  bubble  asset  bubble  modern  monetary  theory  Europe  zombie  banks  New  Normal  BOE  BOJ  Gold  Structural  Impediments  Equity  QE  2013  UK  debt  monetisation  creditcrunch  imbalance  debt  bubble  Error  trustagent  austerity  bubble  greatdepression  zombie  consumer  deleveraging  ratingagencies  debt  monetization  balance  sheet  recession  PIMCO  Politics  GFC  monetary  theory  unintended  consequences  liquidity-trap  ECB  debt  restructuring  monetary  system  political  folly  income  growth  China  greatrecession  uncertainty  lostdecade  monopoly  debtoverhang  Fed  trust  economic  history  financial  repression  bubbles  income-growth  sovereign  debt  crisis  unconventional  monetary  policy  ZIRP  USA  PIIGS  Japan 
april 2013 by asterisk2a
Gold Buying Frenzy Continues: China, Japan, And Australia Scramble For Physical | Zero Hedge
Gold had its worst 4 day move in history. >> those that worry, see it as an opportunity to buy cheap again.
Gold 
april 2013 by asterisk2a
Texas Wants Its Gold Back - YouTube
Texas State, introduces legislation that State Gov can't seize its Gold. Also plans to relocate its Gold from NYFed to Texas. Germany already announces (via Bundesbank) that its Gold (held @ NY Fed) will be shipped to the Bundebank. All is the same tone of Cyprus bail-in.
bail-in  currency  debasement  economic  history  Cyprus  currency-war  Gold  Bundesbank 
april 2013 by asterisk2a
Lest We Forget | ZeroHedge
The view of the ECB raises some interesting questions. I believe most would agree on two issues; first that the ECB is an insolvent institution and so highly leveraged and under-capitalized that a normal bank would have been in bankruptcy long ago but then a normal bank can’t print money. However it must also be said that the ECB is not a stand-alone institution living on another world and that the national central banks of Europe own it. Second I think most thoughtful people would agree that at some point in time that the financial condition of a central bank matters either in terms of increasing inflation by increasing the money supply or as a matter of valuation if no one or not enough financial institutions will support their currency or if some national central bank opts out on the basis of the economic threat to its citizens. This could be exemplified by Germany.

... The game could end if a major European bank falters
... Loss of Trust = Out of Bonds/Equity - into Gold&Co;.
Jens  Weidmann  Mark  Grant  operationtwist  QE3  QE2  OMT  SMP  greatrecession  GFC  unintended  consequences  Fed  ZIRP  QE  Gold  toobigtofail  confidence  trust  bank  crisis  banking  crisis  debt  monetisation  monetization  PIIGS  sovereign  debt  crisis  Europe  Germany  Bundesbank  MarioDraghi  economic  history  monetary  theory  monetary  policy  balancesheet  accounting  ECB 
october 2012 by asterisk2a
The euro crisis: We haven't forgotten how to make depressions | The Economist
GREECE is in a depression. A real deal, no kidding, bad-as-the-1930s depression.

The Greek economy is imploding for no other reason than that the prices are wrong.

***

sticky wages = sticky price for everything else

+

1930's Depression was excaserbated by countries sticking to the Gold standard.
The Euro is today Greece's, Spain's and so forth (PIIGS) Gold Standard that is ruinous.
EU Politicians made a grave error of judgement and assumptions - and are too stuck up as always to admit mistakes and revert course, OR drive full steam ahead with fiscal integration and assuming liabilities as a whole.

***

http://www.economist.com/node/21560252
book  Brussels  policy-makers  politics  economic-thought  goldstandard  gold  sticky-wages  economics  supply-demand  demand-curve  economic  history  Euro  EMU  Europe  policy  folly  policy  error  depression  2012  sovereign  debt  crisis  austerity  Greece  greatrecession  greatdepression 
august 2012 by asterisk2a
UBS Issues Hyperinflation Warning For US And UK, Calls It Purely "A Fiscal Phenomenon"
Hyperinflation: Paper money only has a value because of the confidence that the money can be exchanged for a certain quantity of goods or services in the future. If this confidence is eroded, hyperinflation becomes a threat.

We think that a creditor nation is less at risk of hyperinflation than a debtor nation, as a debtor nation relies not only on the confidence of domestic creditors, but also of foreign creditors. We therefore think that the hyperinflation risk to global investors is largest in the US and the UK. The more the fiscal situation deteriorates and the more central banks debase their currencies, the higher the risk of a loss of confidence in the future purchasing power of money.

Hyperinflation is a fiscal phenomenon. Period. BUT cases of hyperinflation have been preceded by the central bank monetizing a significant proportion of the government deficit.

http://www.zerohedge.com/news/pick-your-debt-poison
policy  folly  policy  error  Fed  NIRP  deflation  austerity  fiatmoney  fiat  currency  Gold  politics  trustagent  trust  confidence  monetary  theory  centralbanks  BIS  shadowbanking  economics  economic  history  bond  bubble  GFC  ZIRP  QE  monetary  policy  fiscal  policy  BOE  debtoverhang  debt  monetisation  debt  bubble  inflation  hyperinflation  USA  UK 
july 2012 by asterisk2a
Should You Be in Gold? - Video - Bloomberg
April 18 (Bloomberg) -- In the first installment of Squash on the Street, Thomas Winmill of Midas Funds trades swings with Bloomberg's Matt Miller and talks about the volatility of gold. (Source: Bloomberg)

- Gold is unregulated, lots of noise, lots of dark pools
- When the tide goes out, you will know who holds this form of investment vehicle (safety net against deflation and inflation, .. etc)
Gold 
april 2012 by asterisk2a
BBC iPlayer - Analysis: What Is Money?
We dream about it, argue about it, worry about it, celebrate it, spend it, save it, we transfer it from one emotion to another. But what exactly is money? And why do we trust it? Frances Stonor Saunders takes a journey through some of the fundamentals of money. During her journey she dips her toe into the world of quantitative easing. How is that money invented? Is it as real as the pieces of paper in our wallets? And she explores some of the reasons for the calls to return to a gold standard. Essentially, she tries to gain a better understanding of what this stuff which we call money is really about; how and why do we maintain our faith in it, or has it just become too complicated?

Fiat Currency - It shall be.

In the end it all is based on trust, that money keeps its value.

Store of value?!
Means of exchange?!
Because of uncertainty about future value - GOLD has appreciated substantially over the last +10 years.

Debt, Credit, Money, its the language, syntax.
BOE  QE  monetary  policy  book  sovereign  debt  crisis  politics  promise  governance  centralbanks  Gold  trustagent  trust  fiatmoney  fiat  currency 
march 2012 by asterisk2a
As Retail Sells, Central Banks Wave Gold In With Both Hands | ZeroHedge
The Bank for International Settlements, which acts on behalf of central banks, has been buying significant quantities of gold on the international market amid falling prices, traders said.

According to several estimates, the BIS bought 4-6 tonnes of gold, worth roughly $250m-$300m at current prices, in the over-the-counter physical market last week, with purchases particularly strong at the end of the week. The total purchases over the past three or four weeks were likely to be as much as double that, the traders added.

In a note to clients this week, Credit Suisse referred to “aggressive central bank buying seen last Friday”.

---

PHYSICAL ! PURCHASES !
- it is a safety net they try to build.

Gold will ultimately do well both in extreme deflation and inflation cases.
Fed  benbernake  2012  Gold 
march 2012 by asterisk2a
Guest Post: About Those High Gasoline Prices… Look Again | ZeroHedge
GOLD - It’s an anti-currency… appropriate for those who want to sit out of the market and be in cash without having to be in cash.
commodities  Oil  2012  monetary  policy  inflation  reflation  unintended  consequences  centralbanks  LTRO  QE  ZIRP  currency-war  currency  debasement  Gold 
march 2012 by asterisk2a
Eric Sprott On Unintended Consequences | ZeroHedge
All of this pervasive intervention most likely explains more than 90 percent of the market's positive performance this past January. Had the G6 NOT convened on swaps, had the ECB NOT launched the LTRO programs, and had Bernanke NOT expressed a continuation of zero interest rates, one wonders where the equity indices would trade today. One also wonders if the European banking system would have made it through December. Thank goodness for "coordinated action". It does work in the short-term.

... bank bailout in the shadows of unconventional monetary policy (nonstandard measures) - QE, ZIRP, LTRO,

The second unintended consequence is the impact that interventions have had on the non-G6 countries' perception of western solvency.
ZIRP  centralbanks  China  Russia  currency  debasement  currency-war  Gold  solvency  monetary  policy  sovereign  debt  crisis  reflation  2012  2011  LTRO  BOJ  BOE  QE  ECB  Fed  unintended  consequences 
february 2012 by asterisk2a
A Very Different Take On The "Iran Barters Gold For Food" Story | ZeroHedge
Finally, the big question: How can one profit from this evolving situation? Playing with currencies is always very risky and, with the global game set to shift to significantly, it would require a lot of analysis and a fair bit of luck. The much more reliable way to play the game is through gold. Gold is the only currency backed by a physical commodity; and it is always where investors hide from a currency storm. The basic conclusion is that a slow demise of the petrodollar system is bullish for gold and very bearish for the US dollar.
foreignexchange  foreignaffairs  2012  barter  economy  Asia  India  Gold  Dollar  USA  Iran  China  currencies  currency-war 
february 2012 by asterisk2a
James Turk Interview With Eric Sprott On, You Guessed It, Gold | ZeroHedge
They talk about the disparities between the physical market and the paper silver markets. Eric talks about supply and demand and how the upward pressures on silver price from demand growing much faster than supply are not being accurately reflected. A 900 million ounce silver supply simply cannot cope with a 380 million ounce increase in demand and maintain current prices. Eric also explains that investment sales of silver are 50 to 1 in volume compared to gold and that this means a decreasing gold/silver ratio.

http://www.youtube.com/watch?v=EzsER-T-QPU
Gold  Silver 
november 2011 by asterisk2a
China Takes Advantage Of September Price Drop; Imports Record Amount Of Gold | ZeroHedge
Data from the Hong Kong government showed that China imported a record 56.9 tonnes in September, a sixfold increase from 2010. Monthly gold imports for most of 2010 and this year run at about 10 tonnes, but buying jumped in July, August and September. In the three-month period, China imported from Hong Kong about 140 tonnes, more than the roughly 120 tonnes for the whole 2010.
Gold  china 
november 2011 by asterisk2a
This gold rush is nothing new - Telegraph
This gold rush is nothing newThe gold rush of 2011 is almost invisible compared with the discovery of the precious metal in California back in 1848. More than 40,000 'miners' from around the world made a beeline for Sacramento with picks, shovels and pans in search of the bright yellow metal that has become the international symbol for wealth, glamour and greed.
gold 
august 2011 by asterisk2a
Rekordpreis fr Edelmetall: Wenn aus Angst Gold wird - SPIEGEL ONLINE - Nachrichten - Wirtschaft
Auch die Furcht der Investoren vor der Geldentwertung wird wohl noch einige Zeit akut bleiben. "Derzeit ist das Umfeld so riskant, dass der Goldpreis wohl weiter steigen wird", meint Ulrich Kater, Chefvolkswirt der DekaBank. Und selbst Gold-Skeptiker Wermuth glaubt, dass der angstgetriebene Boom "noch eine Weile so weitergehen kann".
Gold 
august 2011 by asterisk2a
Standard Chartered: "Three Factors Will Drive Gold To $5,000" | zero hedge
The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the  global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production. We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the  gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report." And what according to Std. Chartered is the best way to capitalize on this undervaluation: "We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners...
http://www.scribd.com/doc/57833659/In-Gold-We-Trust-061411
gold  centralbanks  Fed  PBoC  fiat  currency  outlook  forecast  monetary  policy  monetization  2011 
june 2011 by asterisk2a
Business Line : Columns / S S Tarapore : Drifting back to gold standard
The International Monetary Fund (IMF) must give up its strong aversion for the precious metal. The SDR basket should include gold with an initial weightage of, say, 15 per cent and this should be progressively raised over the next five years to a third. Gold is no country's liability and it does not suffer the inherent disadvantages of other reserve currencies.
SDR  IMF  reserve  currency  Gold  dollar 
may 2011 by asterisk2a
A Brief Reminder On NYSE Margin Debt | zero hedge
Today seems like an opportune time to remind readers that as of March, margin debt, and specifically net leverage, were at near all time highs. Surely, selling off from a market that has more leverage now than almost ever, will lead to a perfectly orderly unwind
leverage  speculation  commodities  2011  silver  gold  oil 
may 2011 by asterisk2a
Presenting John Paulson's Complete Les Echos Interview In Which He Is Bearish On Housing, Bullish On Gold | zero hedge
 "Over time, the price of gold will rise in proportion to the creation of paper dollars. In an inflationary environment where the demand for protection increases, the price of gold can rise even further. Historically, gold has always been a safe haven against inflation and a safe haven in times of political instability. Today we face both risks." As for whether or not we will have QE3: Paulson is not the guy to ask. He is as confused as the Fed presidents.
JohnPaulson  2011  gold  Dollar  inflation 
april 2011 by asterisk2a
Guest Post: Bottleneck Or Supply Deficit? | zero hedge
ie

4. The market cap of the entire gold industry is about the size of Microsoft, is less than Exxon Mobil, and is 10 times smaller than the banking industry. The whole of the silver industry is smaller than Starbucks.

Gold and Silver and precious metals are advertised as wealth saviour in the eye of ZIRP / inflation / deflation risk.
Thus, we can conclude that we are not out of the woods - when we include confidence in policy making.
gold  silver  speculation  2011  fear  ZIRP  monetary  policy  confidence 
february 2011 by asterisk2a
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