ZIMBABWE CURRENCY – WORTHLESS!! The definition of “Hyperinflation” is given below by “THE CONCISE ENCYCLOPEDIA OF ECONOMICS” “Hyperinflations are caused by extremely rapid growth in the supply of “paper” money. They occur when the monetary and fiscal authorities of a nation regularly issue large quantities of money to pay for a large stream of government expenditures. [...]
Paulson Said to Tell Clients Gold Fund Will Top Others By Kelly Bit, from Bloomberg John Paulson, the hedge fund manager seeking to rebound from record losses in 2011, told investors his Gold Fund will outperform his other strategies over five years, according to a person with knowledge of the matter. The billionaire, at a meeting [...]
German Inflation Accelerates to 2.8%, Reaching Fastest Pace in Three Years By Jana Randow and Christian Vits, from Bloomberg Inflation in Germany, Europe’s biggest economy, accelerated more than economists forecast in September to the fastest pace in three years. The inflation rate, calculated using a harmonized European Union method, increased to 2.8 percent from 2.5 [...]
Inflation in August Is Above Forecasts By Bob Willis, from Bloomberg The cost of living in the U.S. rose more than forecast in August as consumers paid more for food, energy and housing. The consumer-price index increased 0.4 percent after a 0.5 percent gain in July (This is close to six percent per annum!) The [...]
Atlanta Grows Lettuce Near Runway as Urban Farms Bloom By Jennifer Oldham, from Bloomberg Designer lettuce will soon bud under the flight path of the world’s busiest airport in Atlanta. An orchard is taking the place of a parking lot in Davenport, Iowa. And homeowners near downtown Denver are turning lawns over to farmers like [...]
Gold Tops $1,880 in Longest Weekly Rally Since ’07 By Debarati Roy and Maria Kolesnikova, from Bloomberg Gold rose to a record above $1,880 an ounce in New York, rallying for the seventh straight week, as concern that the global economy is slowing drove equities lower. The metal had its longest run of weekly gains [...]
Gold is rising like a rocket around the world as Hedge Funds, Banks and even National Treasuries buy the metal and sell the paper. Of course, the man on the street is also buying, but his purchases do not make the movements that are pushing gold in the last week. WHAT ARE THE REASONS? There [...]
It had to happen. The Chinese people…One and One Half Billion People ! (21 percent of the world’s population!) are earning more than they ever have in their history. Using Chinese standards, the Chinese people are also wealthier than they have ever been throughout their five thousand year history. CHINESE MANUFACTURING China is the manufacturing [...]
