Insanity: Now even JUNK bonds have NEGATIVE yields

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negative interest rates

75 years ago this month, a group of 744 delegates from around the world gathered at the very posh Mount Washington Hotel in New Hampshire to build a brand new global financial system. The year was 1944. World War II was still raging in Europe and the Pacific. But with the successful invasion of Normandy… Read More

Here’s how to get a second passport (almost) for free

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italypass

I remember the day like it was yesterday. Fifteen years ago, I received my Italian passport in the mail, shipped to me directly by the Italian consulate in New York. A few years prior, I found out I was eligible for an Italian passport through ancestry. My grandparents are of Italian descent…so Italy deemed me… Read More

Why Singapore is an outstanding “Plan B” option

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singapore 100758969 large

Every time I come to Singapore I can’t help but marvel at its spectacular rise. I have a number of local friends who have been living here since independence in the 1960s, and they tell me the most incredible stories about how impoverished and underdeveloped Singapore was back then. Things were so backward back then… Read More

Texas wants to make sex jokes illegal

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Here’s our Friday roll up of the most absurd and concerning articles we came across this week. UK bans advertisement with “harmful gender stereotypes” UK bureaucrats will now decide if ads and commercials are too offensive. New regulations ban advertisements with gender stereotypes “that are likely to cause harm, or serious or widespread offence.” So… Read More

Mainstream media acknowledges China will likely compel Saudi’s to sell oil in RMB, causing major hit to dollar and Petrodollar

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In an interview on CNBC on Oct. 11, economist Carl Weinberg told the business network that China is going to compel Saudi Arabia to sell them their oil in the Yuan currency, which will have a serious consequence to the dollar and the Petrodollar system.
Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. In an interview with CNBC Weinberg said China has become a key player in the oil market since overtaking the US to become the world's largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,”Weinberg told the media.
“I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them,” he added. A..

How I Became a Gold-Bug

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My father was Hugo Salinas Rocha -“Salinas” was his father’s surname, and “Rocha” was his mother’s surname; the custom of using both parents’ surnames is universal in Latin America. Father was a successful merchant in Mexico City, and in the 1930’s he ran a store in downtown Mexico City. The store belonged to a company… Read More

Baltic Dry Index

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The global economic activity has been falling since the end of 2010. The chart below, called the Baltic Dry Index, measures shipping activity around the world. Due to company and personal debt being too high, global trading is on the decrease, thus affecting the GDP growth. Capital (money) and not debt creates growth. Daily essentials… Read More