Monthly Archives: March 2014

Cyprus abolishes maximum daily cash withdrawal limits

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“In a decree issued by the finance ministry, the 300 euro limit per person per day was scrapped, along with restrictions on breaking fixed-interest time deposits prior to maturity.  The decree also allowed, under conditions, individuals to open bank accounts in other credit institutions.  Restrictions remain on moving money abroad. Cypriot officials have previously said they anticipate that all controls could be fully lifted by the end of 2014.  Cyprus was forced to wind down a major bank and convert large deposits in a second to recapitalise it in order to qualify for aid from the International Monetary Fund and the European Commission.”

http://www.reuters.com/article/2014/03/28/cyprus-capital-controls-idUSL5N0MP3GP20140328

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Junior Mining Stocks to Beat Previous Highs

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“There’s been no fallout (yet) from the unprecedented currency dilution undertaken since 2008—and we don’t believe in free lunches.  The gold mania train has not yet left the station, but the engine is running and the conductor has the whistle in his mouth. This means…  Any correction ahead is a potential last-chance buying opportunity before the final mania phase of this bull cycle takes our stocks to new highs, well above previous interim peaks.  In spite of the good start to 2014, most of our 10-bagger gold stocks are still on the deep-discount rack.”

http://www.caseyresearch.com/articles/junior-mining-stocks-to-beat-previous-highs-1

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Should We Really Put Gold in an IRA?

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“Until now, foreign gold storage for IRAs, while available for US investors, has been a tedious process, with the setup requiring a good deal of time, paperwork, and expense. However, the Hard Assets Alliance just announced that its vault in Zurich, Switzerland can be used to store Gold Eagles (only) in an IRA with the same ease and convenience of a US IRA. This gives us an international storage option for our gold—and in one of the strongest jurisdictions to boot.  This is a breakthrough offering in the industry—one you won’t find elsewhere. The minimum for this vault is $10,000 (the Hard Assets Alliance only requires $5,000 for US storage).”

http://www.internationalman.com/articles/should-we-really-put-gold-in-an-ira

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Paulson claimed Russia ‘planned Wall Street bear raid’ in 2008

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“For me this is pretty jaw-dropping stuff – the Chinese told Hank Paulson that the Russians were suggesting a joint pact with China to drive down the price of the debt of Fannie and Freddie, and maximize the turmoil on Wall Street – presumably with a view to maximizing the cost of the rescue for Washington and further damaging its financial health.  Paulson says this guerrilla skirmish in markets by the Russians and Chinese didn’t happen.  But this kind of intelligence from China on Russian desire and willingness to embarrass the US in a financial sense may help to explain – in a small way – why President Obama shows little desire to understand Crimea as seen by Mr Putin.”

http://www.bbc.com/news/business-26609548

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Putin spokesman: S&P’s downgrade of Russia’s rating was directive

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“Russian President Vladimir Putin’s spokesman Dmitry Peskov has said the downgrade of Russia’s rating outlook by the Standard & Poor’s ratings agency was due to a directive rather than objective circumstances.  The downgrade decision ‘was clearly directive, not objective,’ Peskov told journalists Friday, adding that such forecasts reduce the degree of credibility of such agencies.  On March 20, S&P said it revised its outlook on the Russian Federation to negative from stable.  Fitch Ratings on Thursday revised the outlook on Russia’s long-term foreign and local currency Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at ‘BBB’.”

http://en.itar-tass.com/world/724878

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Putin eyes a Russian credit card system after Western sanctions

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“President Vladimir Putin on Thursday said Russia should create its own national payment settlement system, in a bid to reduce economic dependence on the West amid the controversy over Moscow’s seizure of Crimea.  In countries such as Japan and China these systems work, and work very well,’ Putin told lawmakers in televised remarks.  Initially, they started out solely as national systems limited to their own markets, their own territory, their own population but they are becoming more popular right now.’  ‘Why should we not do it? We should definitely do it and we will do it,’ he said, noting that Russia’s Central Bank and the government have been looking into the matter.”

http://news.yahoo.com/russia-create-own-national-payment-system-ptuin-says-000217707.html

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Russia may counter sanctions with foreign real estate ban for officials

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“A ruling party MP is suggesting to fast track a bill banning leading Russian politicians owning foreign real estate, claiming such a move would make the country less vulnerable to outside pressure and threats of sanctions.  Yevgeniy Fyodorov of the United Russia parliamentary caucus has asked the Lower House Committee for Security and Countering Corruption to speed up work on an amendment to an earlier bill forbidding top level Russian officials, both elected and appointed, to hold foreign bank accounts and possess shares in foreign companies.  The restriction also extends to these people’s spouses and underage children.”

http://rt.com/politics/officials-foreign-realty-sanctions-781/

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Sydney Property Agency Accepts Bitcoin Payments to Woo Chinese

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“Forsyth Real Estate, a Sydney-based property broker, will accept property deposits and payments from sellers in virtual currency Bitcoin to lure business from Chinese home buyers. The broker is Australia’s first property agency to accept Bitcoin, the most popular digital currency, to respond to an influx of foreign investors and expatriates seeking property in the nation’s most populous city, according to its website. Chinese buyers overtook their U.S. counterparts to become the biggest real estate investors in Australia in the year ended June 30, plowing A$5.9 billion ($5.5 billion) into residential and commercial property, according to the nation’s Foreign Investment Review Board.”

http://www.businessweek.com/news/2014-03-27/sydney-property-agency-accepts-bitcoin-payments-to-woo-chinese

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Canadian immigrant investor program scrapped, replacement planned

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“The federal government had announced in the February budget it was axing its immigrant investor and entrepreneur programs, wiping from a backlogged waiting list tens of thousands of people who had been willing to lend $800,000 interest-free in return for permanent residence.  But Alexander told the Post this week a new pilot program to attract wealthy immigrants was on its way.  Under the pilot, wealthy immigrants would lend for more than five years at least double the cash they were made to pay under the old program, according to the Post article. The money would be privately managed under the immigration investor venture capital pilot program.”

http://www.vancouversun.com/business/Hong+Kong+audience+hears+plans+Canadian+immigrant+investor+program/9643664/story.html

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5 Amazing, Cheap Places to Live as an Expat

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“After you finish college and work for a couple years but before you settle down and have kids, you might succumb to the wanderlust that makes people go expat. Maybe you have friends who have gone abroad. Maybe you were just too busy to do any traveling in college. No matter what the reason, living abroad is an amazing experience. Far more than just tourism, living abroad allows you to immerse yourself in another culture while also getting the keen view of an outsider. It can also make you highly attractive to prospective employers when you return to the states.  But where should you go? Here are five amazing places where you can live on the cheap as an American abroad.”

http://www.wisebread.com/5-amazing-cheap-places-to-live-as-an-expat

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