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Swiss Gold Exports to China & India Doubled Bloomberg – Exports of Swiss-refined gold to China and India doubled in March to 46.4 metric tons and 72.5 tons respectively. This is the highest monthly data since January 2014, according to the Swiss Federal Customs Administration. Much of the gold is coming from the United Kingdom, which […]
The war on cash is a growing collection of laws and banking regulations that discourage or prevent citizens from doing business in physical currency. Last month, we reported on new laws in France that will limit the size of cash transactions. On a smaller scale, the state of Louisiana has recently made it illegal to […]
Yesterday a British stock trader was arrested on criminal fraud charges for stock market manipulation. The Commodity Futures Trading Commission and the United States Department of Justice accused Navinder Singh Sarao of single-handedly triggering the “flash crash” of May 2010. During this crash, the Dow Jones Industrial Average plunged about 600 points in just minutes, […]
According to Bloomberg Intelligence, China’s gold bullion reserves may have tripled since its last official report in 2009. Bloomberg estimates that the People’s Bank of China could now own as much as 3,510 metric tons of the metal. If true, China now has the second largest store of gold in the world, following the United […]
Many global banks and precious metals analysts are now forecasting that gold has seen its bottom and will be moving higher in the coming years. The timeframe varies from institution to institution, but the consensus seems to be that the price of gold in dollars will rise significantly after 2015. Very few expect it to […]
In a report ironically titled “A Better Monetary System for Iceland,” government officials in the small North Atlantic nation are considering a policy that would strip commercial banks of the power to increase the money supply through lending. Instead, they would hand all money creation to the central bank – in essence, completely nationalizing the […]
The US markets are closed today, but the March jobs numbers were release this morning — 126,000 non-farm payroll jobs were created last month. The forecast was for 245,000 new jobs, so this is a terrible report that falls nearly 50% short of expectations. Taking into account all the economic data thus far in 2015, […]
A new report from Goldman Sachs warns that mineable reserves of rare commodities like gold may dwindle to extreme scarcity within two decades. This means that easily-mined gold is getting harder and harder to find. With less gold being pulled out of the earth, less gold is being refined and produced for consumers. In fact, […]
Gold Prices Could Skyrocket as Asian Demand Increases Bloomberg – Australia & New Zealand Banking Group Ltd. published a report predicting that gold demand in Asia will double by 2030. The price of gold could increase to up to $2,400 in the same time frame to keep up with demand. As incomes in India and […]
In a stunningly despotic move, France has launched severe new restrictions on cash transactions. After September 2015, French residents cannot make cash payments of more than 1,000 euros, down from the current limit of 3,000. Foreign visitors’ cash payments will be capped at 10,000 euros rather than 15,000. Not only that, but any bank withdrawal […]
