Global Market Commentary, Analysis and Investments
While he’s not due back in court until August 23rd, the trial surrounding former International Monetary Fund (IMF) chief, Dominique Strauss-Kahn — who is charged with sexual assaulting a hotel maid — has become a circus, as would be expected.
The maid in the case, Nafissatou Diallo, who was working at the Sofitel New York Hotel at the time of the incident and is originally from Guinea, has recently gone public with her accusation.
[Read more...]Much like how China has surpassed the US in so many manufacturing and economic milestones — and South Africa in gold production — the world’s most populous country is now poised to topple India as nation with the strongest gold demand in the world.
[Read more...]Frank Holmes and the co-managers of the U.S. Global Investors Global Resources Fund (PSPFX), Evan Smith and Brian Hicks, participated in a special webcast for the Peak Advisor Alliance last week. Here are some candid portions of the Q&A:
Q. How are interest rates currently affecting commodity prices?
[Read more...]“Qu’ils mangent de la brioche!”
English readers will recognize this infamous phrase as, “Let them eat cake.” Marie Antoinette supposedly uttered it. Two centuries later, another member of French royalty comes along to express the phrase in 3-D.
Dominique Strauss-Kahn, the putative “public servant” overseeing the IMF, has been conducting himself in the classic tradition of lecherous, narcissistic, self-indulgent 18th century monarchs. And in the grand tradition of serfdom, we American taxpayers, along with working stiffs from 186 other “member countries,” transport the fruits of our labors inside the castle walls of the IMF. We are the ones who provide the capital that puts the “fund” in International Monetary Fund.
[Read more...]Gold remains in high demand among individual investors, hedge funds, and central banks all swapping cash for the yellow metal. This past weekend, an FT reportage looked into what the latest money flows into gold can tell us about it’s real importance.
Among others, the Financial Times spoke with Texas Republican Congressman Ron Paul:
[Read more...]Faith in Europe’s nearly $1 trillion bailout is sputtering considerably. The latest Bloomberg tally shows 73 percent of global investors polled think it’s likely Greece will still default.
In addition, over 40 percent expect Greece to quit the euro. All that bailout sounds like money well spent, indeed.
[Read more...]Faith in Europe’s nearly $1 trillion bailout is sputtering considerably. The latest Bloomberg tally shows 73 percent of global investors polled think it’s likely Greece will still default.
In addition, over 40 percent expect Greece to quit the euro. All that bailout sounds like money well spent, indeed.
[Read more...]After India bought 200 tons of gold from the IMF last November it seemed obvious to most prognosticators that China would be next up to bat. That hasn’t turned out to be the case. Yesterday, a new perspective emerged to take a stab at answering this yellow metal riddle.
From Commodity Online:
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Perfect Storm Creates Tidal Wave of Gold Demand
A few weeks ago we held our Case for Investing in Gold webcast with the World Gold Council’s (WGC) Jason Toussaint, who gave some remarkable insight into gold demand in the East. In these countries, gold is not only celebrated, acquired, worn or displayed during holidays or special occasions; it is seen as an everyday symbol of wealth.
[Read more...]