“If, in the words of the British economist John Maynard Keynes, gold were a “barbarous relic,” central banks around the world would not have so much of an asset whose rate of return, including storage costs, is negative.” – Alan Greenspan, former Fed Chairman
In the book called “The New Market Wizards“, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. One such trader was Stan Druckenmiller. Below is an excerpt that describes the lessons he learned from George Soros: George Soros has a philosophy that I have also adopted: The way to build long-term returns is through preservation of capital and home runs. You can be far more [...]
Is now the time to buy gold? In September 2011 gold prices peaked at around $1900/oz. The price subsequently plummeted, and over the past year or so has moved sideways, flirting with the $1200/oz lower threshold. Many have written gold off as dead. Others simply no longer develop an opinion about the metal as it no longer makes front-page headlines. So why on earth am I writing an article about gold and personal wealth? Here are the common views on gold: · If you ask the common man in the street about investing in gold, most will give you a [...]
This is an older article that pre-dates the latest ‘Goldman Tapes’ revelation. NY Fed Fired Examiner Who Took on Goldman by Jake Bernstein ProPublica, Oct. 10, 2013, 2:45 p.m. A version of this story was co-published with The Washington Post. In the spring of 2012, a senior examiner with the Federal Reserve Bank of New York determined that Goldman Sachs had a problem. Under a Fed mandate, the investment banking behemoth was expected to have a company-wide policy to address conflicts of interest in how its phalanxes of dealmakers handled clients. Although Goldman had a patchwork of policies, the examiner [...]
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the the supermassive black hole of debt at the center of the UK economy from which nothing escapes: Wealth, jobs, hope are all sucked in and still the hole grows. In the second half, Max interviews Ben Dyson of PositveMoney.org about the UK deficit and mounting debt and about the monetary ignorance of most Members of Parliament.
On this episode of Breaking the Set, Abby Martin speaks with former Congressman and three-time presidential candidate Ron Paul, discussing his views on the ramifications of expanding the war against ISIS into Syria, how US foreign policy has exacerbated the growth of Islamic extremism, the hypocritical partnership with Saudi Arabia, and the marginalization of alternative views outside of the two party system.
We all want to be financially stable and enjoy a well-funded retirement, and we don’t want to throw out our hard earned money on poor investments. But most of us don’t know the first thing about finance and investing. Acclaimed value investor William Ackman teaches you what it takes to finance and grow a successful business and how to make sound investments that will grant you to a cash-comfy retirement.
Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, “How does the economy really work?” Based on Dalio’s practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
In this film George Carey is searching for a site of murder which took place in Inner Mongolia, Northern China, nearly 80 years ago. The only video of the man who died is just a few seconds taken at a meeting with Adolf Hitler. The murdered man was a brilliant Welsh journalist called Gareth Jones. He was trying to find out what the Japanese army was plotting in China. His greatest scoop had been to expose the story few dare to put their name to. It made him enemies among those who wanted to hide the truth. So was he [...]
Source: NBER Homeowners borrowed $0.19 per $1 of home equity gains from 2002 to 2006. In House Price Gains and U.S. Household Spending from 2002 to 2006 (NBER Working Paper No. 20152), Atif Mian and Amir Sufi find that rising housing values promote spending, especially for low-income households, if refinancing provides “cash on hand.” They also find that this spending has a significant impact on GDP. The study finds that between 2002 and 2006, if one zip code experienced a rate of house price growth that was 20 percentage points greater than another, then it would also, on average, experience [...]
Full UC Berkeley course. Free. All 25 lectures. Description: A survey of trends in the American economy; emphasis on factors explaining economic growth and on the changing distribution of the gains and losses associated with growth.
Inside the New York Fed: Secret Recordings and a Culture Clash by Jake Bernstein ProPublica, Sep. 26, 2014, 5 a.m. Barely a year removed from the devastation of the 2008 financial crisis, the president of the Federal Reserve Bank of New York faced a crossroads. Congress had set its sights on reform. The biggest banks in the nation had shown that their failure could threaten the entire financial system. Lawmakers wanted new safeguards. This story was co-published with This American Life, from WBEZ Chicago. Hear the radio version on these stations or download the episode now. The Federal Reserve, and, [...]
Well duh! The there’s a hole in your cup you need to keep adding water if you want it to be full.
Iran’s President Hassan Rouhani has demanded an apology from those countries which he says made the strategic blunder of creating the terrorist groups with certain aims. Addressing the 69th UN General Assembly’s annual meeting, Rouhani said terrorist groups like al-Qaeda and the ISIL were created to give rise to Islamophobia worldwide and to pave the way for military expeditions by extra regional countries to the Middle East. Rouhani also expressed surprise that terrorists kill people in the name of religion while all divine religions consider the murder of a single human being equal to the murder of all humanity. Rouhani [...]