Global Intelligence
GIH: It appears that the so called “Gold Conspiracy” that Gold is being sold secretly and in some cases being replaced by tungsten, has been going on for years. According to the following internal central bank memo, Gold delivered to the Bundesbank was not received as “Good Delivery” – also, Germany’s recent project to repatriate […]
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The Fed’s Bill Dudley admitted what many of us already suspected. The Fed has no clue how QE would affect the markets. Such a statement from a high level Fed official is unusual, and a very telling sign. From Zero Hedge: Well, it took three years, but finally the Goldman Sachs-based head of the New […]
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Capitalism, or any free market system, is always defined by it’s participants. Goods and services in demand will be provided to the extent possible. We all make economic decisions on a daily basis, and by doing so, are creating the system. For example, if everyone decided not to buy watches, at some point, they would […]
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When you think of large banks, you probably don’t think of an eat what you kill approach to keeping your job. Probably it’s not commonly known that behind the scenes, most who work in financial institutions are paid very low wages, and are under constant pressure to sell financial products to customers, to earn a […]
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The PBOC said explicitly that it’s now forbidden for financial institutions to develop any business related to Bitcoin. But they left it open that the public is free to participate in such transactions, so long as they bear the risk. FT adds: The Chinese regulators noted three main risks. First, they said Bitcoin was an […]
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Today, the European Commission has fined six financial institutions for a total fine of $2.3 Billion USD, a record fine. This takes the total tally to $6 Billion in fines. It makes one wonder, at what point do the fines get so high that the activities they are being fined for are not net profitable? […]
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It’s hard to believe that the computer systems running multi-billion dollar markets are crashing, like the Nasdaq has been doing on a near weekly basis. But now it’s happening to the US Treasury market. It makes one wonder about the real stability of our markets, when the systems that run them are constantly breaking. While […]
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Bitcoin has breached the $500 mark as the US Congress convenes its first hearing on “Virtual Currencies.” From Zero Hedge: Finally, for those curious what a “fair value” on Bitcoin may be, here is what we presented [13]a week ago, courtesy of Global Macro Investor’s Raoul Pal: So yes: Bitcoin is volatile. Very. That much […]
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It appears the NSA is not the only agency with data collection programs that are not widely known. Several officials (both current and former) confirmed the programs’ existence anonymously as the program is classified. From the New York Times: The Central Intelligence Agency is secretly collecting bulk records of international money transfers handled by companies […]
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Bankers like Alan Greenspan, Ben Bernanke, Mervyn King, and many others, have a sense of posture and way with their words that projects an image of confidence in their policies, with near mystic quality. But even the Grand Wizard of banking Alan Greenspan admitted later that he made a mistake in not avoiding the financial […]
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