Shariah Gold Standard Is "Revolutionary" Says Mark Mobius
One of the world's leading investors, Mark Mobius told a gold conference in Dubai that the new 'Shariah Gold Standard' is both "innovative and revolutionary" and importantly will bring "transparency" to the physical gold market which suffers from a lack of trust.
Source: Bloomberg
Submitted by Paul-Martin Foss via The Mises Institute,
With crude oil prices up over 50% YoY (the most in 6 years), and retail gas prices up over 10% YoY (the most in 5 years), Bloomberg's Garfield Reynolds suggests the Saudis have sealed it then, 2017 will be the year when inflation takes over from disinflation. That’s certainly the tale the market is telling us right now and any devils out there are tucked well away in the details.
Having seen 10Y JGB yields spike to 10bps (highest since Feb), The Bank of Japan has decided enough is enough and intervened to bring yields back to the stable 0.00% level they decree as fair. The entire Japanese curve is bull-flattening as the long-end is also rallying after Kuroda and his cronies up their purchases to 200 billion yen, from 190 billion previously. All else equal, this will prompt more demand for US paper from Japanese sources.
10Y Yields had risen to their highest since Kuroda unleashed NIRP.
And so it was time to step in
In today's technologically advanced world, who needs an actively managed hedge fund generating proprietary trading ideas? The hassle of hiring financial analysts and/or quant coders is just too burdensome. That's why the 29-year old former quantitative trader, Richard Craib, has decided to run his hedge fund using algorithms sourced from anonymous programmers around the world who he never meets and pays in Bitcoin. Per the New York Times: