Saturday, January 18, 2014
And let's catch up on some news
Here's a bit of news:
BI - wave of Chinese trust defaults coming. If Bill Bishop's not worried, then neither am I. But I can see the US markets refusing to go higher if it's because all the clowns on Wall Street are worried that there's a Chinese banking system collapse coming.
Reuters - Rahul Gandhi wants more subsidized cooking gas. An admirable goal, if it wasn't a blatant bribe for the coming election, and if India actually had another 60 billion rupees to spend on cooking gas, which I'd assume all has to be imported because Indians are useless morons who can't make anything of value in their own country.
Mineweb - gold triumphs over real estate buys in south India. Important to watch gold's relative status within the constellation of available asset classes in India. Then again, the south has been collecting the world's gold for at least 25 centuries, so I don't think relative allocation percentages are going to change that much in the next few years.
Yahoo Finacne - Deutsche Bank quits the gold fix as PM price manipulation probe widens. We all know the fix is manipulated - in fact, we saw it this week where gold got held down below $1250 til Friday afternoon.