Another high ranking banker death this weekend.
Nicholas Valtz, a managing director in cross-asset sales at Goldman Sachs Group Inc. (GS) in New York, was found dead yesterday by family members who went searching for him after he didn’t return from a kiteboarding outing.
Thanks for the heads-up, Dick.
This infographic, part four in our 2014 Gold Series, covers the best reasons to own gold.
1) Gold helps investors diversify their portfolios.
2) Gold is a great store of value.
3) Gold helps protect against inflation and other risks.
4) Gold demand is driven by a growing east, while grades are dropping and new discoveries are more scarce.
5) Gold stocks are as cheap as they have ever been, using the GDX as a proxy.
Fitts correctly predicted that there would be no financial collapse in 2013. She characterizes what is going on in the global economy as a “slow burn.” Fitts contends, “The dominant economic scenario that I think that has been going on for quite some time is what I call the ‘slow burn.’ The ‘slow burn’ is a process where our incomes fall steadily and our expenses rise steadily. That is what is squeezing the middle class in the developed world.
Despite popular belief, very few things in our world are exactly what they seem. That which is painted as righteous is often evil. That which is painted as kind is often malicious. That which is painted as simple is often complex. That which is painted as complex often ends up being disturbingly two dimensional. Regardless, if a person is willing to look only at the immediate surface of a thing, he will never understand the content of the thing.
This fact is nowhere more evident than in the growing “tensions” between the elites of the West and the elites of the East over the crisis in Ukraine.
I am continually astonished at the refusal of many otherwise intelligent people to consider the evidence or even the possibility that there is, in reality, no fundamental political or philosophical conflict between the power brokers of the East and the West. As I outlined in great detail in Russia Is Dominated By Global Banks, Too, the truth is they are both working toward the same goal; and both ultimately benefit from an engineered and theatrical display of international brinksmanship.
Director of National Intelligence James Clapper is touring universities and colleges in the United States in an attempt to persuade students that they should not consider former NSA contractor Edward Snowden a whistleblower or a hero.
Best-selling author Nomi Prins warns, “Never before have the Government and the Fed collaborated so extensively by propping up the banking system to the detriment of the population.” Prins lays out a long history of the relationships between U.S. Presidents and bankers that date back to Teddy Roosevelt and JP Morgan.
Every once in a while, an Off the Cuff interview is so important that we decide to make it available to the entire public. This is one of those occasions.
In this week's Off the Cuff podcast, Chris and Alasdair Macleod build on the insights laid out in Chris' recent mega-report last week on gold: The Screaming Fundamentals for Owning Gold. And specifically, they delve deeply into the poorly-understood topic of why Chinese demand has become such a game changer in recent years.
By Bruce Wilds
The modern economy that has evolved over the last several decades is loaded with interwoven contracts reeking of contagion. I contend that if faith drops in these intangible "promises" and money suddenly flows into tangible goods seeking a safe haven inflation will soar. In a recent article I wrote "never before has mankind diverted such a large percentage of wealth into intangible products or goods and made the claim this is the primary reason that inflation has not raised its ugly head or become a major economic issue in recent years." Like many of those who study the economy I worry about the massive debt being accumulated by governments and the rate that central banks have expanded the money supply.
With every new leak from Edward Snowden’s bottomless trove of pilfered documents, it gets harder to keep track of all the bizarre ways the National Security Agency has cooked up to spy on people and governments. This may help.
THE 2014 GOLD SERIES: PART 2 OF 5
This infographic, part two in our 2014 Gold Series, covers the full supply picture behind the yellow metal. See Part 1: A Visual History Of Gold here.
Within the planet’s crust, there is only 1 gram of gold for every 250 tonnes (550,000 lbs) of earth. Gold’s rarity means that finding economic deposits is extremely difficult. To understand how gold mining and supply work, we must first unearth how gold deposits form.
Over time, gold dissolves in hot water deep in the crust under immense pressure. It is then transported and deposited upwards as the water travels up cracks and fissures towards the surface. Generally, the major gold deposit types include: placer, volcanogenic massive sulphide (VMS), epithermal, porphyry, carlin-type, and orogenic deposits.
More than seven months after the suicide of Zurich Insurance Group AG (ZURN) Chief Financial Officer Pierre Wauthier, his widow said she and her family cannot accept Zurich’s claim that his death wasn’t brought on by undue stress.
“We who knew him best cannot accept your conclusion that his suicide is simply inexplicable,” said Fabienne Wauthier, speaking at the insurer’s annual general meeting in Zurich today, which she attended together with her daughter, mother-in-law and brother-in-law.