Business

Autohred by Jim Rickards via The Daily Reckoning,

China is not only one of the world’s largest debtors, it is one of the world’s largest creditors.

China uses debt not in the customary financial manner, but as a political tool to generate employment and maintain social stability. Likewise China uses loans and investment as a tool to advance its strategic interests. This may be good geopolitics in the short run, but it will be a disaster economically in the long run.

It appears the Japanese bought the f**king dip in Bitcoin last week, as tonight's session has seen s sudden surge in the price of the virtual currency, taking out prior record highs and topping $2800.

http://www.bloomberg.com/api/embed/iframe

Additionally, Bloomberg reports, the speculative frenzy in bitcoin is spilling over into several small cryto-currency-related stocks on the Tokyo Stock Exchange.

The rate of rising home prices in Canada’s largest city slowed slightly in May as a new tax on foreign buyers – one of 16 new measures meant to cool the country’s white-hot housing market – failed to cool the Toronto housing market despite a dramatic rise in new listings, Reuters reported, citing data from the Toronto Real Estate Board.

Authored by Carey Wedler via TheAntiMedia.org,

Back in 2011, after making a killing off of his infamous mortgage short, John Paulson found himself running one of the largest hedge funds on wall street with $38 billion in total capital under management, including roughly $19 billion in outside capital.  But, after gaining instant fame with his massive subprime bet, Paulson can't seem to buy a clue in recent years which has left many investors wondering whether he may have been nothing more than a "one-trick pony".

Certainly returns in his Paulson Advantage fund would indicate some difficultly replicating historical success: