Gold Silver

One Fund’s Instant Destruction – Slope of Hope

This is a cautionary tale. A tale of a fund of nearly 300 clients and nearly $80 million which blew up in the span of hours from a market move that was, in the grand scheme of things, not that big a deal. It illustrates how excessive leverage can completely torch the risk-taker (and, in this case, his clients). And ...

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If GE Debt Gets Junked, Markets Have Reason to Shudder

Holders of General Electric bonds are preparing for one of the world’s biggest borrowers to be downgraded to junk. To get a sense of what that might do to the markets, take a look back to the turmoil caused by the 2005 downgrades of General Motors and Ford—but worry that this time it might be worse because so many companies ...

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Bubble Trouble: Seattle-Bellevue Metro Housing Market Goes South

The inflection point was July. Conditions have deteriorated since. Active listings of houses and condos for sale in October in King County – which includes Seattle and Bellevue but does not include Tacoma – nearly doubled compared to October last year, jumping 91% to 5,749 listings, according to data by the National Association of Realtors. This was the largest inventory ...

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Utah rare coin dealer accused of defrauding investors in a $170 million Ponzi scheme involving silver

A federal judge has frozen the assets of a Utah rare-coin dealer after state officials accused the business of defrauding hundreds of people in a precious-metals Ponzi scheme. A civil complaint was filed Thursday by the Securities and Exchange Commission against Gaylen Dean Rust and his company, Rust Rare Coin Inc. The Utah Department of Commerce said in a Friday ...

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Does China Have Enough Gold to Move Toward Hard Currency?

Are the Chinese Keynesian? We can be reasonably certain that Chinese government officials approaching middle age have been heavily westernised through their education. Nowhere is this likely to matter more than in the fields of finance and economics. In these disciplines there is perhaps a division between them and the old guard, exemplified and fronted by President Xi. The grey-beards ...

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GE is now fighting to avoid becoming a junk bond name

Once-mighty General Electric is fighting to stay off the junk heap. GE’s stock has become a sliver of its former self, and its bonds are now trading as if they are already junk-rated. That puts pressure on new CEO Larry Culp to quickly raise cash and cut debt to keep its debt rating from falling further to sub-investment grade junk ...

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