We are joined by Liam Halligan of BNE.eu. They talk rubles, sanctions and diversifying the economy with some technology investments. In the second half, Max interviews Konstantin Gurdgiev about the ruble, the Russian budget and David Cameron’s take on the causes and consequences of the crisis and sanctions. They also discuss the ruble’s ‘baptism by fire’ as it only just joined the five trillion dollar per day forex markets.
A retrace that fills open gaps and kisses the 50-day moving average surprises everyone who was confident oil was heading straight down to $40/barrel.
When the conventional media ordains oil inevitably dropping to $40/barrel, I start looking for something else to happen–like oil going to $70/barrel. There are number of reasons this isn’t as farfetched as it might seem at the moment.
Read more ›
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.
Senator Elizabeth Warren charged Citigroup last week with “holding government funding hostage to ram through its government bailout provision.” At issue was a section in the omnibus budget bill repealing the Lincoln Amendment to the Dodd-Frank Act, which protected depositor funds by requiring the largest banks to push out a portion of their derivatives business into non-FDIC-insured subsidiaries.
Warren and Representative Maxine Waters came close to killing the spending bill because of this provision. But the tide turned, according to Waters, when not only Jamie Dimon, CEO of JPMorgan Chase, but President Obama himself lobbied lawmakers to vote for the bill. Read more ›
The Fed-triggered feeding frenzy in stocks on Wednesday and Thursday was paralleled in the junk-bond market. Energy-related junk bonds had gotten shredded over the past couple of months, as the price of oil collapsed. The sell-off started spilling over to non-energy junk bonds. Tuesday, the day before the Fed’s announcement, junk bonds suffered their largest drop since October 2011. And just as all heck was breaking loose, and as yields were getting painfully high for our spoiled zero-interest-rate conditions, the Fed rode to the rescue once again to bail out the markets with its vague verbiage about being “patient.”
But it wasn’t enough, not in junk land.
Read…. So-Called ‘Dumb Money’ Flees Junk Debt. And the Market Quakes
Happy Christmas from all the team in GoldCore
Happy Christmas and Wishing You a Healthy and Prosperous 2015
Happy Christmas to you and yours,
We hope you had a fulfilling 2014 and thank you for your feedback, your sharing, your support and your business during the year and in recent years. Please take note of our office hours over the Christmas and New Year’s Season.
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Bloomberg and CNBC Interviewed GoldCore Today about Gold in 2015
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Why You Should Be Constructive On Gold In 2015
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