Monthly Archives: June 2013

Gold rush as Lao prices drop

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“The recent drop in gold prices on the Lao market has brought buyers out in droves to purchase gold jewellery while it remains cheap.  According to gold shops in Vientiane, sale prices yesterday were at 5,060,000 kip (US$655) per baht-weight for gold jewellery – down about 500,000 kip per baht-weight on previous months.  According to gold traders, large numbers of buyers have visited gold shops in Vientiane to purchase gold jewellery and bars as an investment.  Some shops at the Talatsao Mall were stripped bare of all of their wares as a result of the gold rush.”

http://sg.news.yahoo.com/gold-rush-lao-prices-drop-060002085.html

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Silver Demand Surges In India While Gold Premiums at $35/oz In China

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“Attempts to prevent Indians from buying gold are contributing to them buying poor man’s gold, or silver. There has been a massive increase in silver demand in India in recent months and the government’s meddling and controls in the gold market will likely led to even more demand for silver.  While India imported 1,900 tonnes of silver in 2012, in the first five months of 2013 alone, imports have touched 2,400 tonnes.  According to industry estimates, silver imports during the January-March quarter stood at 760 tonnes. Imports shot up 720 tonnes in April alone, and in May, they further swelled by 920 tonnes.”

http://www.zerohedge.com/contributed/2013-06-27/silver-demand-surges-india-while-gold-premiums-35oz-china

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Gold rush 2013 style has Dubai scrambling

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“There is not enough space on airlines flying in to Dubai to meet the rapidly rising demand for physical gold in the emirate since the price plunged to record lows this week.  The price drop led to a rush of buyers for Dubai gold from the Middle East, South East Asia, the Balkans, Turkey and parts of Europe according to Tarek El Mdaka, the managing director of Kaloti Gold in Dubai.  ‘I cannot find a place for transporting gold on Emirates, on BA on Swiss Airlines this weekend,’ Mr El Mdaka said. ‘I am shipping in one-and-a-half to two tonnes of gold every day and it is going straight out.’ Gold is in such short supply in Dubai that he is able to charge a US$3 premium per ounce.”

http://www.thenational.ae/business/industry-insights/markets/gold-rush-2013-style-has-dubai-scrambling

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How Much Are the NSA and CIA Front Running Markets?

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“A 2008 paper by Arindrajit Dube, Ethan Kaplan, and Suresh Naidu (hat tip MS) found evidence that the CIA and/or members of the Executive branch either disclosed or acted on information about top-secret authorizations of coups. Stocks in ‘highly exposed’ firms rose more in the pre-coup authorization phase than they did when the coup was actually launched.  Given the fact that there’s reason to believe that people in the intelligence with access to privileged information weren’t above leaking it to people who could take advantage of it, why should we expect things to be different now?”

http://www.nakedcapitalism.com/2013/06/how-much-are-the-nsa-and-cia-front-running-markets.html

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Richard Retting, ‘Father Of Red Light Cameras In America’, Becomes A Paid Camera Lobbyist

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“Retting is being paid to oppose the measure introduced by Assemblyman Adrin Nazarian (D-San Fernando Valley) that would mandate one extra second of yellow warning time at intersections that use red light cameras. The policy has been in effect in Georgia since January 2009 where it has resulted in a massive reduction in red light violations. The prospect has photo ticketing firms like Redflex worried, because the majority of Georgia cities that once used red light cameras dumped them after the law took effect and revenue dried up. Lasercraft, then the number one photo ticketing firm in the state, went out of business.”

http://www.thenewspaper.com/news/41/4136.asp

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The Future of Building Your Own Guns

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“As more ridiculous anti-gun laws continue to be passed, the future of DIY gun building and parts is looking better all the time. People should always be able to go to the gun store and purchase fully-assembled guns. But, doing this could subject you to invasive scrutiny from government, higher prices, higher taxes, or flat-out denial based on variety of fabricated reasons. On demand CNC parts and 3-D printing services will soon bring the art of building your own guns to a whole new level.”

http://libertycrier.com/u-s-constitution/the-future-of-building-your-own-guns/

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Bill Bonner: No Real Recovery Without “Hitting Bottom” First…

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Bill-Bonner2

“The fireworks in the gold market are still, probably, far ahead. You’ll hear the explosions when consumer prices begin to rise. And that won’t happen for a while. And here is where the story gets interesting… and hard to follow. The bond market has turned. This could push the economy into a deeper funk unless growth starts to pick up. But it could be years before the new trend is firmly established. We remember the last turn… in the early 1980s. Paul Volcker announced it in 1979. But it was almost four years before investors fully absorbed the news.”

http://www.billbonnersdiary.com/articles/bonner-bottom-recovery.html

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Gold in them bits: Inside the world’s most mysterious Bitcoin mining company

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“This is the first in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware. In part one, we look at the company and the experiences customers have had with it. In part two, to be published on June 29, we share our experiences running a Bitcoin miner for a couple weeks. Spoiler alert: we made money.”

http://arstechnica.com/business/2013/06/gold-in-them-bits-inside-the-worlds-most-mysterious-bitcoin-mining-company/

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Elite Body Sculpture Becomes World’s First Cosmetic Surgery Center to Accept Bitcoin

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“Bitcoin, the world’s first peer-to-peer digital currency is now being accepted by cosmetic surgeon to the stars, Dr. Aaron Rollins, at his Elite Body Sculpture centers in Beverly Hills and Sacramento. Elite Body Sculpture is excited to be the very first cosmetic surgery center to accept this form of cutting edge payment. Bitcoin is the newest frontier in currency—decentralized and unbound by any country. This purely electronic system allows anyone to send a payment, anywhere in the world, for little or no cost. Secure and internationally accepted, Bitcoin is being rapidly adopted by pioneering users and businesses around the world.”

http://btcbible.com/cosmetic-surgery-center-first-to-accept-bitcoin/

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Survey: Quarter Of US Consumers Has Heard Of Bitcoin — And Majority Of Them Trust It

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“When it comes to trusting Bitcoin, U.S. consumers also lag their Argentinian and British counterparts, but trust levels are still apparently running high among U.S. Bitcoin-aware. The survey found 62% of U.S. consumers who are Bitcoin-aware said they trust the currency, vs 73% of Bitcoin-aware Argentinians and 69% of Bitcoin-aware Brits. Greater awareness of Bitcoin appears to help foster greater levels of trust, as you might expect.  Trust in Bitcoin is still relatively low when compared to trust in national currencies.  Unsurprisingly, Argentinians also come out on top as most likely to trust Bitcoin more than their national currency.”

http://techcrunch.com/2013/06/28/bitcoin-awareness-and-trust/

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