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    World Economic News and Discussion

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    kvs
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    Re: World Economic News and Discussion

    Post  kvs on Fri Feb 12, 2016 2:25 pm



    Canada's gold reserves are now basically nil but were around 1000 tons during the 1960s. I find the above chart interesting
    since it correlates with Canada's golden age (no pun intended). Back in the 1960s you could buy a good house in Canada for
    cheap and the standard of living was high. Now Canada is de facto poor as real estate is insanely overpriced and the real
    inflation rate for food is about 7% per year. I have been in Canada long enough to see the degradation of the standard of
    living.

    kvs
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    Re: World Economic News and Discussion

    Post  kvs on Fri Feb 12, 2016 2:30 pm

    sepheronx wrote:This hits closer to home, and KVS should read this, and any other Canadians here:
    "Jingle Mail" Makes Comeback In Canada As Underwater Borrowers Mail Keys Back To Banks

    It points to Alberta which is being devastated by the low oil prices. But really the situation in Canada is deteriorating for a long time and the current
    oil prices do not explain it:



    Instead of having real incomes Canadians are progressively living in a credit fantasy land like Americans.

    George1
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    Re: World Economic News and Discussion

    Post  George1 on Wed Mar 23, 2016 9:22 am

    Germany Continues Repatriation of Gold Reserves From Abroad

    Deutsche Bundesbank has already delivered the precious metal valued at approximately 11.5 billion euros to Frankfurt. The country is planning to bring back half of the country's gold reserves until 2020.

    The German central bank accelerated the withdrawal of Germany's gold reserves from overseas repositories, president of the Bundesbank Jens Weidmann said Sunday.

    According to Weidmann, the bank is working on a new concept of the gold storage adopted by Germany in 2013, according to which at least half of the total gold reserves of the country should be transferred to Frankfurt until 2020.

    Weidmann said that 366 tons of gold at a total value of approximately 11.5 billion euros have been delivered to Frankfurt so far.

    "Thus, there are now about 1,400 tons or 41.5% of our gold reserves here. We comply with the schedule," Deutsche Welle quoted the banker as saying.

    According to him, the rest of the gold will be stored in New York and London.

    Gold is an additional reserve currency for Germany. According to the Bundesbank, the German gold reserve amounts to approximately 3,400 tons and is the second largest in the world after that of the United States.

    "There are suggestions Germany wants its gold because it's worried its loans to less fiscally responsible sovereigns won't be repaid. But I believe Germany is preparing in case the euro were to eventually dissolve, so it wants its gold to potentially back a new Deutsche Mark. Perhaps they, too, recognize gold's return to its role as money," Peter Krauth wrote in 2013 for Money Morning.

    The gold reserve is to a certain extent a financial regulator for Europe as a whole and ensures Germany a leading role among European countries.

    Read more: http://sputniknews.com/business/20160320/1036618662/germany-repatriation-gold.html#ixzz43iE9U3PF


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    sepheronx
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    Re: World Economic News and Discussion

    Post  sepheronx on Tue Mar 29, 2016 11:05 pm

    Top Silicon Valley VC Laments: Startups Being Funded Are "Mostly Crap & Largely Worthless"

    This is one of the things I was talking about when I debated back with Mike regarding how silicon valley is a dotcom 2.0 burst waiting to happen again.

    sepheronx
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    Re: World Economic News and Discussion

    Post  sepheronx on Fri Apr 29, 2016 11:58 pm

    Turkey and Foreign Investors http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
    Over the past year, foreign investors have reacted in various ways to the situation in Turkey.. Most of them sold off the Turkish assets they held in their portfolios and left the country. Turkey has put foreign investors in a tough spot and they are faced with the dilemma: to stay or go? The flight of so-called “hot” money—short-term investments in treasury bonds and stock market securities—reached an unprecedented level in Turkish history.

    Faik Oztrak, former Deputy Undersecretary of Treasury, stated that in 2015, foreign-held portfolios had shown a net outflow of capital of $9.4 bn. This amount exceeded the volume of assets sold during the financial crises of 2001 to 2008. The capital flight in 2001 amounting to $7 bn was particularly painful, as Turkey’s exchange reserves were very low at that time.

    Oztrak said that, according to Central Bank statistics, the sale of foreign-held assets in the past year reached a record high. He also warned that “In 2016, global conditions remain uncertain. An unfavorable move by the US Federal Reserve, for instance, could lead to a repetition of what happened in 2015.”
    http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/

    magnumcromagnon
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    Re: World Economic News and Discussion

    Post  magnumcromagnon on Sat Apr 30, 2016 12:55 am

    sepheronx wrote:Turkey and Foreign Investors http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
    Over the past year, foreign investors have reacted in various ways to the situation in Turkey.. Most of them sold off the Turkish assets they held in their portfolios and left the country. Turkey has put foreign investors in a tough spot and they are faced with the dilemma: to stay or go? The flight of so-called “hot” money—short-term investments in treasury bonds and stock market securities—reached an unprecedented level in Turkish history.

    Faik Oztrak, former Deputy Undersecretary of Treasury, stated that in 2015, foreign-held portfolios had shown a net outflow of capital of $9.4 bn. This amount exceeded the volume of assets sold during the financial crises of 2001 to 2008. The capital flight in 2001 amounting to $7 bn was particularly painful, as Turkey’s exchange reserves were very low at that time.

    Oztrak said that, according to Central Bank statistics, the sale of foreign-held assets in the past year reached a record high. He also warned that “In 2016, global conditions remain uncertain. An unfavorable move by the US Federal Reserve, for instance, could lead to a repetition of what happened in 2015.”
    http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/

    The Turkish economy is a clusterfuck, extremely dependent on imports, their tourism is in the shitter with an outstanding 1,200 high class hotels shutting down operations in a month that followed the Su-24 shoot down...they're despised by Europeans as a whole and hated by virtually all there territorial neighbors (even by the Azerbaijani govt. cryptically)...all accelerate for the fire that will light the powder keg underneath the Turkish straw house. In a few years from now Turkey will put Syria and Iraq to shame with the amount of turmoil they will see, and everyone from Russia, Armenia, Syria, Iraq, Iran, Greece, Cyprus, and yes even Azerbaijan will be waiting to carve a slice out of the Turkey.

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    Re: World Economic News and Discussion

    Post  Grazneyar on Sat Apr 30, 2016 2:15 am

    magnumcromagnon wrote:
    sepheronx wrote:Turkey and Foreign Investors http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
    Over the past year, foreign investors have reacted in various ways to the situation in Turkey.. Most of them sold off the Turkish assets they held in their portfolios and left the country. Turkey has put foreign investors in a tough spot and they are faced with the dilemma: to stay or go? The flight of so-called “hot” money—short-term investments in treasury bonds and stock market securities—reached an unprecedented level in Turkish history.

    Faik Oztrak, former Deputy Undersecretary of Treasury, stated that in 2015, foreign-held portfolios had shown a net outflow of capital of $9.4 bn. This amount exceeded the volume of assets sold during the financial crises of 2001 to 2008. The capital flight in 2001 amounting to $7 bn was particularly painful, as Turkey’s exchange reserves were very low at that time.

    Oztrak said that, according to Central Bank statistics, the sale of foreign-held assets in the past year reached a record high. He also warned that “In 2016, global conditions remain uncertain. An unfavorable move by the US Federal Reserve, for instance, could lead to a repetition of what happened in 2015.”
    http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/

    The Turkish economy is a clusterfuck, extremely dependent on imports, their tourism is in the shitter with an outstanding 1,200 high class hotels shutting down operations in a month that followed the Su-24 shoot down...they're despised by Europeans as a whole and hated by virtually all there territorial neighbors (even by the Azerbaijani govt. cryptically)...all accelerate for the fire that will light the powder keg underneath the Turkish straw house. In a few years from now Turkey will put Syria and Iraq to shame with the amount of turmoil they will see, and everyone from Russia, Armenia, Syria, Iraq, Iran, Greece, Cyprus, and yes even Azerbaijan will be waiting to carve a slice out of the Turkey.

    Turkey is indeed in trouble, their officals have degenerated into poo flinging matches.

    http://www.hurriyetdailynews.com/video-another-fight-breaks-out-at-tense-turkish-parliament-.aspx?pageID=238&nID=98497&NewsCatID=338

    Also this article, the opposition seems to be making some sense here. It is not easy reading, quote “There is 790 percent increase in prostitution. More than 300,000 women are being held by prostitution gangs like slaves. What is this Justice and Development Party is doing, can you tell me? Where is justice here? Where is the development here?”. That will certainly mean Ukranian and no small number of Russian girls kept as slaves. Probably similar numbers in Israel.

    http://www.hurriyetdailynews.com/chp-leader-turkey-suffering-from-moral-collapse.aspx?pageID=238&nID=94382&NewsCatID=338

    OminousSpudd
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    Re: World Economic News and Discussion

    Post  OminousSpudd on Sat Apr 30, 2016 6:25 am


    Excellent analysis by Pepe Escobar on the new Silk Road project.

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    Re: World Economic News and Discussion

    Post  Regular on Sat Apr 30, 2016 10:05 pm

    Was expecting something different when I've read Silk Road Very Happy

    sepheronx
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    Re: World Economic News and Discussion

    Post  sepheronx on Sun May 22, 2016 1:44 am

    America's "Advanced Stupid" In 2 Stunning Charts



    sepheronx
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    Re: World Economic News and Discussion

    Post  sepheronx on Wed Jun 22, 2016 5:00 pm

    It Took $10 In New Debt To Create $1 Of Growth In The First Quarter

    And some on here wants Russia to mimic such economic success.

    George1
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    Re: World Economic News and Discussion

    Post  George1 on Sun Sep 04, 2016 4:59 am

    The yuan is nearing to become a true international currency. In October, the Chinese currency will be added by the International Monetary Fund (IMF) to its list of reserve financial instruments.

    Read more: http://sputniknews.com/business/20160903/1044933366/china-russia-yuan.html


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    Re: World Economic News and Discussion

    Post  DerWolf on Sun Sep 04, 2016 12:47 pm

    George1 wrote:
    The yuan is nearing to become a true international currency. In October, the Chinese currency will be added by the International Monetary Fund (IMF) to its list of reserve financial instruments.

    Read more: http://sputniknews.com/business/20160903/1044933366/china-russia-yuan.html

    If IMF is a US tool, then why would IMF accept yuan as a reserve currency?

    kvs
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    Re: World Economic News and Discussion

    Post  kvs on Sun Sep 04, 2016 3:58 pm

    DerWolf wrote:
    George1 wrote:
    The yuan is nearing to become a true international currency. In October, the Chinese currency will be added by the International Monetary Fund (IMF) to its list of reserve financial instruments.

    Read more: http://sputniknews.com/business/20160903/1044933366/china-russia-yuan.html

    If IMF is a US tool, then why would IMF accept yuan as a reserve currency?

    Why would the US and EU invest so much production in China at the expense of their own domestic workers?

    George1
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    Re: World Economic News and Discussion

    Post  George1 on Thu Sep 29, 2016 3:27 am

    Russia climbs two notches in World Economic Forum's Global Competitiveness ranking

    More:
    http://tass.com/economy/902681?_ga=1.122805067.1337049799.1447427261


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