Tag Archives: Asia

Indians should help Bitcoin eclipse the empires of rupee and dollar

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“Once upon a time human transactions were underpinned by exchange of cows, camels, goats and cowrie shells. Then came metal coins. A gold standard reigned until just half a century ago. It was only in this millennium that credit card penetration achieved depth in India. Change is the only constant on earth.  Now we are set for journeys to Mars. As we prepare to work and live in space, we wonder how we will conduct transactions up there. Not in rupees and dollars, surely? So when downloading our first bitcoin, we should take heart from Spock’s advice — For everything, there is a first time. Beam me up, Scotty — beam me up right there.”

http://timesofindia.indiatimes.com/home/opinion/edit-page/Indians-should-help-digital-currency-eclipse-the-empires-of-rupee-and-dollar/articleshow/25075830.cms

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A $100k earner gets to keep $99k in Singapore but $57k in San Francisco

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“You’re about to quit your job and start living the life of a one-man entrepreneur. Living in your basement, you have no rent and no employees, and since you’re selling your skills you don’t need venture capita yet, but you’re still dreaming big. All things being equal, where should you base your business? Tip: Probably not in the place where the taxman takes a red bite like this out of your income donut.”

http://gyrovague.com/2013/10/30/half-the-donut-why-an-entrepreneur-earning-100k-gets-to-keep-over-99k-in-singapore-but-under-57k-in-san-francisco/

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IMF Happy Talk Cannot Obscure Japan’s Reality

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“Printing a lot of money is really helping the Japanese economy, according to the International Monetary Fund. In fact, according to the IMF, there’s plenty of room to do more if need be. This is part of a larger trend we’ve been observing of late. Whether it is Janet Yellen in the US or Mark Carney in England or the ECB or the BOJ itself, aggressive money printing is becoming a signature calling card.  So what is all this money printing accomplishing? Well … from our point of view, it’s nothing more or less than a promotional exercise. It’s clear to us. We couldn’t figure it out at first but now we can. They’re printing because there’s nothing else to do.”

http://www.thedailybell.com/news-analysis/34708/IMF-Happy-Talk-Cannot-Obscure-Japans-Reality/

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India’s third biggest gold fund reopens to investors

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“India’s third biggest gold fund will begin accepting fresh investments again after shutting off new buy-ins three months ago to support government efforts to curb bullion demand and control a rising trade deficit.  The government and the central bank launched a series of measures this year to curb the country’s appetite for gold as India battled a ballooning trade deficit and a weak currency. Gold is the biggest item on India’s import bill after oil.  The gold fund is part of Reliance Capital, controlled by billionaire Anil Ambani. India has imposed a 10 percent duty on imports of gold, and tied imports to exports. Imports have fallen to a mere 7 tonnes in September from a record 162 tonnes in May.”

http://www.reuters.com/article/2013/10/23/idUSL3N0ID0OD20131023

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Rumors of War

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“We live in scary times … and they’re going to get even scarier.  But at least you can rest assured that your money will be safe and will continue to grow not just DESPITE the break-out of regional and civil wars … but BECAUSE of them.  To survive and prosper during this new era of global warfare and ever-more repressive governments, it will help to have greater wealth — and you’ll sleep better knowing that your wealth will be there when you need it most.  And when you take advantage of the opportunities I’ve described, I believe it will be virtually impossible NOT to make money.”

http://www.moneyandmarkets.com/reports/RWR/0813/89/?&p=2

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How Thailand’s Botched Rice Scheme Blew a Big Hole in its Economy

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“The plan was simple: Thailand’s government would buy rice from local farmers at a generous price, some 50 percent above the market rates. It would hold the rice in warehouses, cutting off exports to the rest of the world. The sudden shortage from the world’s heavyweight champion of rice exports would cause a spike in global prices.  It was Thailand’s great misfortune that exactly one week after it slashed exports, India lifted its export ban, flooding the market with 10 millions tons of rice. Rather than orchestrate a price hike, Thailand helplessly stood by as global prices sank.  Moody’s warned that the program could swallow up an astonishing 8 percent of the national budget.”

http://world.time.com/2013/07/12/how-thailands-botched-rice-scheme-blew-a-big-hole-in-its-economy/

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Doug Casey & Jim Rogers Legendary Investors’ Roundtable

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“Jim and Doug discuss today’s world economic and financial situation within the context of financial history and past financial panics.  Jim and Doug talk about central planning, central banking, big government and how governments have only 3 real options to raise money.  Next, Jason asks Doug and Jim about competing currencies like Bitcoin, gold and silver and whether they will be allowed under any circumstance.  Jason asks Jim and Doug about the turmoil in the currency and bonds markets.  Doug and Jim also talk about commodities like farmland, cattle, gold and other natural resource investing opportunities.
Jim Rogers was in Singapore and Doug Casey was in Argentina.”

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For Bitcoin’s Biggest Believers, Digital Currency Is Better Than Gold

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“‘It is always the government paper fiat money that gets corrupted throughout history,’ Shishido will later tell us. ‘Bitcoin is not just a new digital currency. It is actually about liberty.’  Shishido gives his brief lecture at a long table just inside The Pink Cow, the first restaurant in Tokyo that lets you pay for dinner and drinks with bitcoins. He helps oversee the Tokyo Bitcoin Meetup Group, and this Thursday evening, the group is holding its weekly meeting at The Pink Cow, a California-Mexican joint, run by an American expatriate, that sits at the heart of Tokyo’s Roppongi neighborhood, an area famous for housing expats and money-minded business types.”

http://www.wired.com/wiredenterprise/2013/10/bitcoin-in-japan/all/

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Bitcoin Magazine Interview: India

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“Bitcoin Magazine asks Sunny Ray, India Bitcoin Meetup organizer about the bitcoin movement in India. Visit www.indiabitcoin.com for more information.”

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India arrests man caught smuggling gold bars in cellphone

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“The Air Intelligence Unit (AIU) arrested a passenger for attempting to smuggle gold through Mumbai airport on Saturday. The passenger, Ibrahim Khaleel, was carrying four gold bars worth Rs 48 lakh. Two of the bars were concealed in his mobile phone in place of the battery. The other two were found in his bag.  Khaleel landed in Mumbai from Riyadh by a Jet Airways flight. Just as he was trying to clear Customs through the green channel, AIU officials intercepted him on suspicion and asked for a thorough check.”

http://articles.timesofindia.indiatimes.com/2013-09-30/mumbai/42535018_1_aiu-bars-air-intelligence-unit

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