During six months of protracted and terribly fraught negotiations between Athens, Berlin, Brussels, and the IMF, the idea that Spain, Italy, and Ireland somehow represented austerity “success stories” was frequently trotted out as the rationale behind demanding that Greece embark on a deeper fiscal retrenchment despite the fact that the country is mired in recession….
On CNBC’s Futures Now, Peter Schiff shared his take on the Chinese devaluation of the yuan and how it affected the price of gold. Once again, Peter reminded us that gold may not have moved up very much in terms of the US dollar, but in the Chinese currency the yellow metal rose significantly. While the…
<< Read Part I: Hammer Time Last Friday it was Hammer Time, Part 1 as the indexes Hammered to close the day, setting up Monday’s bounce. Then came the jawbone, the pump, the failure and now… (would-be) Hammer Time, Part 2. Isn’t this market fun? However, NFTRH.com posted a chart this morning, while the market was near…
Shares of Ceres (CERE) are up 118% at the close after the company announced it was given a patent for its I-Code multi-gene trait development system. This new patent helps the company to develop and license this technology to other crop companies and organizations. The reason the stock surged so much is that licensing out…
Last week Disney (DIS) released earnings that fell short of Wall Street’s expectations, specifically Disney announced that Nielsen estimated that ESPN lost over 3.2M subscribers over the previous twelve months. That set off a wave of selling in not only Disney’s stock but other media companies as well. As other media companies released earnings later…
Royalty companies are a good way to get low-risk exposure to the gold sector while retaining most of the upside. In essence, a “pure” royalty provides the royalty owner with a share of the production without having to take on the cost of building the mine and ongoing capital requirements. The cost of the royalty…
‘Pet Rocks.’ I hope you don’t allow that sort of nonsense to affect your longer term investment decisions. The Street’s windtalkers have an uncanny way of cheerleading the ‘small investor’ into the maw of the big trading desks. What a striking coincidence. A little more gold was redeemed out of the Sprott Physical Gold Trust…
In case you missed it, China has devalued their currency for two consecutive days. The devaluation has been just over 2% and it has caused markets around the world to implode. This is just the beginning. They plan on devaluing their currency by 10% in a desperate attempt to revive their floundering economy. What they…
Puppet Government The Financial Times reports Memo Reveals Extent of Control Bailout Monitors Will Have on Greece. The 29-page memo details what Greece will have to do in order to get a third bailout program. The memo covers damn near every aspect of Greek finances, effectively making the Greek parliament a puppet government of Germany. Devil…
The Securities and Exchange Commission approved a rule last week requiring that large publicly held corporations disclose the ratios of the pay of their top CEOs to the pay of their median workers. About time. For the last thirty years almost all incentives operating on American corporations have resulted in lower pay for average workers and higher pay…
