This is true. The big boys been waiting for this for a long time.
The Swiss franc has soared some 30% in chaotic trade as the central bank abandoned the country's cap on the currency's value against the euro.
The Swiss National Bank said the cap, introduced in Sept. 2011, is no longer justified.
At the same time it reduced a key interest rate from -0.25% to -0.75%, increasing the amount investors have to pay to hold Swiss deposits.
Following the SNB move the Swiss franc went from 1.20 to the euro to 0.8052.
Swiss shares fell some 6% and stock markets around Europe fell with investors buying "safe haven" assets such as gold and German bonds.
One trader described trading after the unexpected announcement as "carnage".
http://www.bbc.co.uk/news/business-30829917
The Swiss National Bank said the cap, introduced in Sept. 2011, is no longer justified.
At the same time it reduced a key interest rate from -0.25% to -0.75%, increasing the amount investors have to pay to hold Swiss deposits.
Following the SNB move the Swiss franc went from 1.20 to the euro to 0.8052.
Swiss shares fell some 6% and stock markets around Europe fell with investors buying "safe haven" assets such as gold and German bonds.
One trader described trading after the unexpected announcement as "carnage".
http://www.bbc.co.uk/news/business-30829917
got gold?
Don't do financials anymore, more interested in production nowadays, like to keep an eye on the money world though and there's plenty going on at the minit
I would still take bitcoins over gold. They day places like pay(dooby doo) pal take bitcoins is coming and they will go mad at that point
Don't do financials anymore, more interested in production nowadays, like to keep an eye on the money world though and there's plenty going on at the minit
I would still take bitcoins over gold. They day places like pay(dooby doo) pal take bitcoins is coming and they will go mad at that point
Gold roughly 250 to 1200 since 2000.. Equity markets not even close... The world as we know it has changed entire western world has gone Japanese... QE infinity 0 rates fighting a losing battle with over indebted debt deflation long term...
like me I said in a previous post gold miners should moonshot here if gold starts taking off... Most already well off their bottom... Really beat down and energy input/extraction costs way down to boot
like me I said in a previous post gold miners should moonshot here if gold starts taking off... Most already well off their bottom... Really beat down and energy input/extraction costs way down to boot
wonder if 45 was the oil bottom.. Spiked up to 52 quick than back to 46 and change now back to 48...
probably not the bottom if overal markets tank soon.. Probably if they don't tank and global QE props us up till oil supplies drop... NA Supply drops likely to start 2nd half of this year into 2016 ...
dont see it spiking back or anything .. Likely stuck in 40-60 range (lower if global economy completely tanks) for a year+
How long till fed starts to QE again? Talk of rate hikes complete laugher..
EU QE next week
probably not the bottom if overal markets tank soon.. Probably if they don't tank and global QE props us up till oil supplies drop... NA Supply drops likely to start 2nd half of this year into 2016 ...
dont see it spiking back or anything .. Likely stuck in 40-60 range (lower if global economy completely tanks) for a year+
How long till fed starts to QE again? Talk of rate hikes complete laugher..
EU QE next week
Swiss central bank move made a lot of sense. Europe economy is in the toilet, adding more EURO to its currency reserve proved to be a very bad investment. They should lifted the cap when the Fed stop printing and let CHF to slide against the USD, selling into US and China market is easier than the Euro zone for now.
[h=1]Hope and change!! QE infinity rules!
Wealthiest 1% will soon own more than rest of us combined, Oxfam says - CNN.com[/h]This place has the highest income equality in the U.S.(CNN)Turns out, the rich really are getting richer. And they'll soon own more than the rest of us put together.
So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year.
"The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014," Oxfam says in a report Monday.
At that rate, the wealthiest will own more than 50% by next year, according to the report.
"Do we really want to live in a world where the 1% own more than the rest of us combined?" asked Winnie Byanyima, executive director of the international aid agency.
[h=3]'Global inequality ... simply staggering'[/h]Byanyima will co-chair the annual World Economic Forum in Davos this week.
She plans to use the platform at Davos to call for urgent action on the rising inequality.
The 80 richest people on the planet have the same wealth as the poorest 3.5 billion people, the report says.
"The scale of global inequality is quite simply staggering; and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," she said.
"It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world."
[h=3]Call for action[/h]While 1% of the population owns 48% of the world's wealth, a majority of the remainder follows the same trend.
"Of the remaining 52% of global wealth, 46% is owned by the rest of the richest fifth of the world's population," the report says.
The remainder of the population only possesses 5.5% of global wealth.
Their wealth last year? An average $3,851 per adult, the report says.
[h=3]'Global elite'[/h]Meanwhile, the "global elite" members had an average wealth of $2.7 million each last year, it says.
The report comes a day before President Barack Obama is expected to unveil proposals that close tax breaks on the wealthy.
Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.
Wealthiest 1% will soon own more than rest of us combined, Oxfam says - CNN.com[/h]This place has the highest income equality in the U.S.(CNN)Turns out, the rich really are getting richer. And they'll soon own more than the rest of us put together.
So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year.
"The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014," Oxfam says in a report Monday.
At that rate, the wealthiest will own more than 50% by next year, according to the report.
"Do we really want to live in a world where the 1% own more than the rest of us combined?" asked Winnie Byanyima, executive director of the international aid agency.
[h=3]'Global inequality ... simply staggering'[/h]Byanyima will co-chair the annual World Economic Forum in Davos this week.
She plans to use the platform at Davos to call for urgent action on the rising inequality.
The 80 richest people on the planet have the same wealth as the poorest 3.5 billion people, the report says.
"The scale of global inequality is quite simply staggering; and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," she said.
"It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world."
[h=3]Call for action[/h]While 1% of the population owns 48% of the world's wealth, a majority of the remainder follows the same trend.
"Of the remaining 52% of global wealth, 46% is owned by the rest of the richest fifth of the world's population," the report says.
The remainder of the population only possesses 5.5% of global wealth.
Their wealth last year? An average $3,851 per adult, the report says.
[h=3]'Global elite'[/h]Meanwhile, the "global elite" members had an average wealth of $2.7 million each last year, it says.
The report comes a day before President Barack Obama is expected to unveil proposals that close tax breaks on the wealthy.
Obama will discuss his plans to help the middle class during his State of the Union Address on Tuesday.
Obama state of union should be a knee slapper.. Guy is a total pawn for the elite and doubt he even knows it... Redistribute wealth yada yada.. socialist countries on a LARGE scale always fail to level the playing field... ... It can work in small sample sizes where the population has the same mindset and culturally similar relate to eat other etc.. When u get large scale always ends up corrupt .. Population are divided into groups to bicker amongst themselves... and a few owning everything...
Of course in all this discussion there is never any mention of monetary policy and how that effects inequality.. Comedy gold..
Of course in all this discussion there is never any mention of monetary policy and how that effects inequality.. Comedy gold..
Gold knocking on 1300 door.. Miners well off the bottom.. Best time to get into gold since early 2000 IMO.. Storm clouds a forming after a long consolidation period for gold.. Nothing has changed about the long term economic gloom and doom story.. QE solve nothing just bought time and created greater inequality which in the end makes the system increasingly unstable..
Just QE some more that'll fix it..
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[h=1]Obama says wages are growing. They're not
January 21[/h]NEW YORK
Wait, rewind that video: Did President Obama just say wages are growing?
The president's State of the Union speech had a lot of economic highlights. The U.S. had its best year of job growth since 1999. Unemployment is falling, economic activity is increasing. But then:
"Wages are finally starting to rise again," Obama said.
Unfortunately, new numbers published Thursday by the government don't back up that claim.
Related: American jobs are back, but wages aren't. Is this normal now?
Wages basically didn't grow at all in 2014, according to the Labor Department. The median weekly wage at the end of 2014 was $796 (seasonally adjusted). That's barely changed from the same time in 2013, when the weekly wage was $794.
The usual trend is that as more Americans get jobs, wages rise. So far, that's not happening.
Even the most recent data available for the fourth quarter of 2014 shows that median weekly wages actually decreased $1 from the third quarter if you look at the seasonally adjusted figures.
Related: This is why Obama is so concerned about the middle class
From the big picture perspective, median annual household income in 2013 is essentially the same as it was way back in 1995. It's also 8% lower than where it was before the recession, according to the most recent figures from the Census Bureau.
Middle class America is still frustrated because they aren't earning more money.
The only evidence to back up the president's wage increase claim is that non-seasonally adjusted wage numbers are rising slightly. But a spokesperson for the Bureau of Labor Statistics, which tracks wages, says the seasonal numbers provide the best comparison over time.
----------
[h=1]Obama says wages are growing. They're not
January 21[/h]NEW YORK
Wait, rewind that video: Did President Obama just say wages are growing?
The president's State of the Union speech had a lot of economic highlights. The U.S. had its best year of job growth since 1999. Unemployment is falling, economic activity is increasing. But then:
"Wages are finally starting to rise again," Obama said.
Unfortunately, new numbers published Thursday by the government don't back up that claim.
Related: American jobs are back, but wages aren't. Is this normal now?
Wages basically didn't grow at all in 2014, according to the Labor Department. The median weekly wage at the end of 2014 was $796 (seasonally adjusted). That's barely changed from the same time in 2013, when the weekly wage was $794.
The usual trend is that as more Americans get jobs, wages rise. So far, that's not happening.
Even the most recent data available for the fourth quarter of 2014 shows that median weekly wages actually decreased $1 from the third quarter if you look at the seasonally adjusted figures.
Related: This is why Obama is so concerned about the middle class
From the big picture perspective, median annual household income in 2013 is essentially the same as it was way back in 1995. It's also 8% lower than where it was before the recession, according to the most recent figures from the Census Bureau.
Middle class America is still frustrated because they aren't earning more money.
The only evidence to back up the president's wage increase claim is that non-seasonally adjusted wage numbers are rising slightly. But a spokesperson for the Bureau of Labor Statistics, which tracks wages, says the seasonal numbers provide the best comparison over time.
The European Central Bank (ECB) is expected to announce a huge bond-buying programme later on Thursday, aimed at revitalising the eurozone economy.
Reports suggest that asset purchases could be €50bn (£38bn) per month until the end of 2016 - double the amount previously expected.
The programme would in part be designed to counter low eurozone inflation.
On Wednesday, the OECD urged the ECB to launch unlimited bond-buying until the eurozone economy improves.
According to reports on Wednesday, the ECB's executive board proposed this week that the €50bn quantitative easing programme would start from March.
http://www.bbc.co.uk/news/business-30915210
Reports suggest that asset purchases could be €50bn (£38bn) per month until the end of 2016 - double the amount previously expected.
The programme would in part be designed to counter low eurozone inflation.
On Wednesday, the OECD urged the ECB to launch unlimited bond-buying until the eurozone economy improves.
According to reports on Wednesday, the ECB's executive board proposed this week that the €50bn quantitative easing programme would start from March.
http://www.bbc.co.uk/news/business-30915210
