Commodity Trade Mantra

Posts Tagged ‘Creditors’

Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"

Effectively, the state of Texas will protect any gold stored in the depository from the federal government. This implicit subordination of The Fed’s gold sends a more ominous signal of rising fears of confiscation and leaves us wondering just how long before every state (and or country) decides to follow Texas’ lead?

More Euro Tragedy & Its Consequences For Gold

Gold price is an early warning of future monetary & currency troubles & it is now becoming apparent how they may transpire. The ECB move is likely to have important ramifications well beyond Europe & together with parallel actions by the BoJ, can now be expected to increase demand for physical gold in the advanced economies once more.

One Of Largest Russian Gold Miners On Verge Of Bankruptcy

Russian gold producer Petropavlovsk, was valued at more than $3 billion four years ago and was a potential candidate to move into the coveted FTSE100. But today the firm is now worth just $60 million and is in a perilous financial situation, with speculation it may even default on $310 million in convertible bonds in February.

China On The Verge Of First Corporate Bond Default Once More

In China, where corporate bankruptcies are taboo, a default would immediately reprice the entire bond market lower and have adverse follow through consequences to all other financial products. And so in the past two months, China was forced to bail out two Trusts with exposure to the coal industry.

China Sold Second-Largest Amount Ever Of US Treasuries In December

At a time when America’s two largest foreign creditors, China & Japan, went on a buyers strike, the entity that came to US rescue was Belgium which is another name for Europe – Wonder what favors were/ are being exchanged behind the scenes in order to preserve the semblance that “All is well.”

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