Barcelona Threatens to Print Parallel Currency, Madrid Seethes … Over the next six months, Barcelona's left-wing city council plans to roll out a cash-less local currency that has the potential to become the largest of its kind in the world. The main goal of the project, according to a council spokesperson, is to boost economic opportunities for local businesses and traders. The idea is...Read More
Spoofing trial to shine light on secret world of high-frequency trading … In less time than it takes you to read this sentence, Michael Coscia could make more money than most Americans earn in an 8-hour day. If you blinked, you miss it. But if you slowed down time … you'd see the unmistakable evidence of a sophisticated criminal at work, the feds say. That's because Coscia, 53,...Read More
Gold has shown strength in the last couple of weeks – though inflation isn't the only catalyst. There's another factor, namely a bizarre new proposal from Bank of England Chief Economist Andy Haldane that's catching on with Fed governors and frustrated central bankers worldwide. You see, if Haldane gets his way, gold may not just be a store of value – it may be the only one...Read More
Mexico's supreme court plans to discuss a proposal that could effectively legalize the consumption and production of marijuana for recreational use in a session at the end of October. Judges will vote on whether to declare unconstitutional parts of a federal health law prohibiting the growth and consumption of marijuana after a nonprofit group filed an injunction against a 2013 decision by hea...Read More
The Internet May Be Changing Your Brain In Ways You've Never Imagined… Five years ago, journalist Nicholas Carr wrote in his book The Shallows: How The Internet Is Changing Our Brains about the way technology seemed to be eroding his ability to concentrate. "Once I was a scuba diver in the sea of words," he wrote. "Now I zip along the surface like a guy on a Jet Ski."...Read More
For example, Japan just reported another trade deficit. Despite forecasts for a gain in exports, they grew at the slowest pace in more than a year in September, while exports to China fell 3.5 percent. "China-bound exports fell for a second straight month in terms of value and volume, that weighed on exports," a finance ministry official said. "We must pay the utmost attention to Ch...Read More
Speaker John Boehner seeks compromise with Democrats over raising the debt limit … House Speaker John A. Boehner has lowered expectations for reaching a sweeping budget deal with the White House and instead is focusing on the more immediate task of averting a looming showdown over the debt ceiling. Raising the debt limit has become one of the most difficult votes for Republicans in Washingto...Read More
I met with the staff in charge of agricultural assistance at the World Bank and other international aid agencies, but no one recalled hearing about a Chinese pledge to provide $800 million for rice production or any stories of public outrage or government denials of a plan to bring in Chinese settlers. At the International Monetary Fund's Maputo office, a staff member who had been tracking Chi...Read More
The Liberal Party steamrolled to a stunning political comeback Monday night, forming a new, majority government and creating Canada's first family dynasty at the highest level of national politics as an historic campaign ended with a dramatic bang. The Liberals had collapsed to just 34 seats and third place in the House of Commons in the 2011 election. But they were leading or elected in almos...Read More
New Democrat Leader Thomas Mulcair said he would move toward the full legalization of marijuana, but he is focusing on decriminalization first because it can happen immediately … "I am going to start by immediately doing something that I know I can and will do overnight, which is to make sure that nobody ever has to face a charge for personal use or possession of marijuana and of course...Read More
Smoking gun emails reveal Blair's 'deal in blood' with George Bush over Iraq war was forged a YEAR before the invasion had even started. Leaked White House memo shows former Prime Minister's support for war at summit with U.S. President in 2002. Bombshell document shows Blair preparing to act as spin doctor for Bush, who was told 'the UK will follow our lead.' Publicly, Bla...Read More
Fed policymakers downplay divisions on U.S. rate hike … Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, one Fed official said on Thursday, while another said the differences of opinion reflect the countervailing economic data. Many Fed watchers are exasperated by the mixed mess...Read More
Illinois Will Delay Pension Payment Because of Cash Shortage … Illinois will delay payments to its pension fund as a prolonged budget impasse causes a cash shortage, Comptroller Leslie Geissler Munger said. The spending standoff between Republican Governor Bruce Rauner and Democratic legislative leaders has extended into its fourth month with no signs of ending. Munger said her office will p...Read More
Legalising cannabis would raise millions in tax, says government study … Leaked Treasury study, commissioned by the Liberal Democrats while in coalition, says the move would also save £200m a year in court and police costs … In a debate … pro-cannabis MPs argued that the UK should draw on the experience of US states that have legalised the drug … Legalising cannabis c...Read More
Case Study #3: Why you need a second passport … In recent years, the number of people who are divorcing themselves from the heavy hand of Uncle Sam has been increasing exponentially. In 2013 the number of people renouncing US citizenship jumped 221% over the previous year. In the last quarter of 2013 alone, people abandoning US citizenship jumped 1,402% over the same period a year earlier. T...Read More
Why Matt Drudge Can Stop Worrying … Matt Drudge appeared on Alex Jones's Infowars. Here is how he has been quoted. On the future of digital copyright: "I had a Supreme Court justice tell me to my face it's over for me. Said, 'Matt, it's over for you. They've got the votes now to enforce copyright law. You're out of there. They're gonna make it so headlines&nd...Read More
Agriculture, Coffee And Sugar: The Next Rally? … We discuss the long term bullish case for Rogers Agricultural Index ETN. 3 billion additional middle class consumers will support the demand for agricultural products over the next two decades. We discuss why Rogers Agricultural Index has been in a bear market since early 2011 and what is needed for the next bull market to start. We mention th...Read More
Politicians Exploit School Shooting While Ignoring Bombing Victims … Following the recent Oregon school shooting, many politicians rushed to the microphones to call for new gun control laws … The reaction to the shooting stands in stark contrast to the reaction to the US military's bombing of an Afghanistan hospital run by the international humanitarian (and Nobel Peace Prize winni...Read More
Fed's Fischer Says Economy May Merit Liftoff Later This Year … Federal Reserve Vice Chairman Stanley Fischer said the U.S. economy may be strong enough to merit an interest-rate increase by year end, while cautioning that policy makers are monitoring slower domestic job growth and international developments in deciding the precise timing of liftoff. At the Federal Open Market Committee...Read More
Here's what $66 gets you in Medellin … Last night after a flurry of legal meetings and property tours throughout the day, I had drinks with a Canadian real estate developer who set up shop here in Medellin a few years ago. Medellin's mountainous geography constrains growth, and this is likely going to heavily influence prices over the long term. So for now, this place is one of the m...Read More