Back in March of last year we noted, with some incredulity, that some 30% of China’s newly-minted day traders had an elementary education or less. Even more incredible, we learned that nearly 6% of the country’s new “investor” class were illiterate.
Submitted by Nick Giambruno via InternationalMan.com,
The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better. - Ron Paul
Ron Paul is calling for the end of the petrodollar system. This system is one of the main reasons the U.S. dollar is the world’s premier reserve currency.
Having made its warning to the Fed loud and clear ("if you hike or otherwise push the USD any higher, we will crush your markets by devaluing the Yuan against everyone but mostly the USD"), the PBOC continued the fragile ceasefire between the world's two most powerful central banks, when moments ago it kept the onshore Yuan virtually unchanged, by weakening today's fixing by 0.03% to 6.5637. However, as can be seen on the chart below, this has barely even registered.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Peddling Fiction
On Tuesday, as I watched the President’s State of the Union Address, the President made the following statement.
“Anyone claiming that America’s economy is in decline is peddling fiction.”
An Australian Bitcoin company called the Bitcoin Group is about to be listed on the Australian Securities Exchange (ASX). The cryptocurrency company could be your next investment opportunity. Bitcoin is a decentralized digital currency that comes with a built in ledger and safety, based on the encryption techniques used in its creation. It is in contrast to a central bank based fiat currency, that is under the control of politicians and bankers. Bitcoins are created by masses of computing power worldwide and are for the privileged few who hold them.