ZURICH (Reuters) - A decade after a U.S. crackdown ended Swiss banking secrecy, rich Americans are flocking back to UBS (UBSG.S) as they look to diversify their investments in a volatile U.S. political landscape, a senior executive at the Swiss group told Reuters.“The interest has increased, for political reasons and for reasons of diversification,” Juergen Wegner said in an interview,...Read More
Erik Townsend and Patrick Ceresna welcome Keith McCullough to MacroVoices to discuss if interest rates have peeked. Erik and Keith discuss how the investment landscape has evolved, why deflationary pressures are on the horizon. They further discuss the marginal rates of change in growth and inflation, U.S. real GDP and CPI forecasts, the global economic landscape and the key macro themes into the...Read More
Pig iron exporters in the south of Brazil have sold out of material for shipment this year and have increased their offer prices for material for January deliveries."Sales last week have taken up material availability from suppliers in the south. That is why they have tried to increase their offers," one trader told Fastmarkets.Last week, several deals were done at $346-348 per tonne fob. This wee...Read More
Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 visits a month. Charles also contributes to AOL's Daily Finance site and has written eight books, most recently "Surviv...Read More
WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said on Friday.VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and explore...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
"He [Powell] could have leeway with inflation falling back underneath the Fed's 2% target, so that he actually has formal cover to pause."Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author...Read More
The Dow and the S&P 500 could be cut in half and they would still be overvalued, Fund Manager Dave Kranzler tells Silver Doctors. Kranzler thinks the fundamentals are showing the economy is headed south more quickly than many people are expecting. Kranzler estimates that the 2019 fiscal deficit could end up as high as $1.8 trillion, the largest in history. In that case, interest rates would need t...Read More
Buyers avoided making new deals in the United States pig iron market during the week ended Friday November 16 because they had restocked earlier in the month, Fastmarkets was told.Fastmarkets' price assessment for US imports of pig iron remained unchanged at $370-385 per tonne cfr on November 16.Numerous deals for pig iron for December deliveries to the US were done with the Commonwealth of Indepe...Read More
According to a new report from the U.K.'s Children's Commissioner's Office, by the time a kid becomes a teen in today's world, their parents will have uploaded an average of 1300 photos and videos of them. Add in any media kids post of themselves, and by the time they're 18, they'll have about 70,000 photos and videos of themselves online. And the implications are massive. The Resident breaks it d...Read More
LONDON (Reuters) - A group of eurosceptics who are leading a bid to oust British Prime Minister Theresa May might not know until Monday if they have enough letters to trigger a vote of confidence, the BBC’s political editor said on Friday.“Don’t necessarily expect to hear anything from Brady, who is the person who really knows, until Monday as to whether threshold has been reache...Read More
In a letter to shareholders, McEwen Mining (TSX: MUX; NYSE: MUX) updated its progress at the Gold Bar project in central Nevada and confirmed commercial production is expected to begin in the first quarter of next year.The company completed the heap leach pad and installed crushing, conveying and agglomeration systems this month. For the rest of the year, its focus will be on finishing the proce...Read More
Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), a gold royalty company with a portfolio centered on the Spring Valley Gold Project in Nevada, has reported that Waterton Global Resource Management, the project's owner/operator, is drilling on the property. The company first reported the drilling on October 31, and followed up on November 13 with more details.The royalty company noted that Waterton is...Read More
Yale University Professor Stephen Roach examines the United States concentrating on trade with China as it runs deficits with 102 nations. Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management. He the author, most recently, of Unbalance...Read More
You may have heard that the near-record stock market internals have turned ghastly, where most companies are lagging, leaving only a few standard-bearers to prop up the nameplate DJIA index (which gets all the news coverage, in the name of our "strong" economy.) But what you aren't being told is that the pool of buyers who are actually purchasing stocks and keeping even the few market leaders prop...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
The World Gold Council has published an update to its Guidance Note on all- in sustaining costs (AISC) and "all- in costs", which was first issued in June 2013.The Council worked closely with its member companies to develop these non-GAAP measures which are intended to provide further transparency into the costs associated with producing gold. These non-GAAP measures are intended to provide furthe...Read More
Global ferrous scrap prices surrendered to the downward pressure created by weak mill demand and tepid finished steel sales during the working week from Monday November 12 to Friday November 16, with the exception of those in India.Turkish import scrap prices fell, with only four cargo bookings made during the week. Import prices in Taiwan and Vietnam also continued to trend downward. India's impo...Read More
Ontario-based White Metal Resources Corp. (TSXV: WHM) is growing its recently acquired Williams Gold property, located in central Newfoundland, where a gold rush seems to be taking place.In a media statement, the junior explorer announced that it has staked an additional 50 claim units totaling 1,250 hectares near the project and south of the former producing Beaver Brook Antimony mine.In detail,...Read More
OceanaGold (TSE: OGC) is interested in buying Bravada Gold Corporation's (TSXV: BVA) low-sulfidation Highland gold/silver project, located within the Walker Lane Gold trend in western Nevada, USA.Both companies have signed a letter of intent which stipulates that Oceana has until December 15, 2018, to accept the opportunity of earning up to 75% interest in the project.In detail, Oceana may earn a...Read More