Diamond News Archives
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The European Central Bank has to deal with the details of the financial markets in such a way that it has become a daytrader and organizes a planned economy. That said Econopolis economist Geert Noels yesterday.
The banks are still ‘too big to fail’, but much worse is that the central banks are ‘too big to fight’, said Danielle DiMartino Booth yesterday. The writer of the book ‘Fed Up’ was in Brussels for the third edition of Leergeld.eu[1], a debate series organized by the N-VA on the free money policy of the European Central Bank.
The Texan worked from 2008 to 2015 for the US central bank (Federal Reserve, abbreviated Fed) in Texan Dallas. When she left, she wrote the book and since then she has not received any postcards from her former colleagues during the holidays, she said. In ‘Fed Up’ she argues that the Fed has become an overly powerful institution that directs the economy without contradiction.
In central banks, there is an army of PhD economists working who share the same haughty belief in economic models and are too often disconnected from reality, said DiMartino Booth. According to her, since the arrival of Alan Greenspan in 1987, the Federal Reserve has been trying to disrupt the classic cycle of the economy by smoothing out the buisiness cycle, so nothing still works as it should.
The disadvantages are numerous. The free money does not go to expenses or investments, but to overpriced real estate. Companies that are ill do not go bankrupt because are kept alive with cheap money. Pensioners see the income from their savings shrink. Pension funds are forced to take greater risks than they want to reach a minimum return. In the US...
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(IDEX Online) – The Israel Diamond Institute Group of Companies (IDI) will host 38 companies this year, including three new exhibitors, in its national pavilion at the June Hong Kong Jewellery & Gem Fair. The event will take place from June 21 – 24 at the Hong Kong Convention & Exhibition Centre. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
In addition, five Israeli companies will be exhibiting in other locations throughout the show.
The Israel Diamond Pavilion will be located in the diamond area in Hall 3BC.It will include a lounge, with refreshments served throughout the day. “Get Diamonds Show” terminals in the lounge will enable buyers to search a computerized database in both English and Chinese of all goods offered by Israeli exhibitors at the show. Buyers are also able to access the Get Diamonds Show system on their smartphones.
In addition, the IDI will launch a special website for the Hong Kong June show with full details of all the Israeli companies participating, including background and contact information, as well as a map of the Israel Diamond Pavilion. The site will go live the day before the show opens.
Asia is Israel’s second largest market for polished diamonds representing about 30% of total polished diamond exports, with the greatest share going to Hong Kong. Israel is also a major supplier of polished diamonds to China, India, Thailand, Singapore, Taiwan, Japan and other Asian markets.
IDI Chairman Boaz Moldawsky said, “Asia is a key target market for our industry. We are optimistic about Asia and we are seeing a definite rise in demand...
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Spiking yields are the billowing black smoke on the horizon; you can’t see or feel the fire from your vantage point, necessarily, but you can make a confident educated guess about what you’ll find when you get there.
It happened in 2000. It happened in 2008. And it’s happening now.
Today we will summarize something I’ve been thinking about for a long time. Exactly how will we get from the credit crisis, which I think is coming in the next 12–18 months, to what I call the Great Reset, when the global debt will be “rationalized” via some form of nonpayment. Whatever you want to call it, I think a worldwide debt default is likely in the next 10–12 years.
The problem will be what I mentioned last week: massive illiquidity. Trading can and will dry up in a heartbeat at the very time people want to sell. In late 2008, the high-yield bond benchmarks lost a third of their value within a few weeks, and many individual bond issues lost much more, in large part because buyers disappeared.
The experts who investigate transport disasters, crimes, and terror incidents usually create a chronology of events. Reading them in hindsight can be haunting—you know what’s coming and you want to scream, “Don’t do that!” But of course, it’s too late.
We do something similar in economics when we look back at past recessions and market crashes. The causes seem obvious and we wonder why people didn’t see it at the time. In fact, some people usually did see it at the time, but excessive exuberance by the crowds and willful ignorance among the powerful drowned out their warnings.
ORIGINAL SOURCE: Train Crash Preview[1] by John Mauldin at Mauldin...
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It’s the story of the weekend. Even if you don’t follow the Royals, you probably got a glimpse of Prince Harry and Meghan Markle’s wedding somewhere.
One of the most important elements in the ceremony was the wedding ring, particularly the one given to the bride. Similar to her engagement ring and following a 100-year-old tradition, Markle’s band was fashioned from a piece of Welsh Gold, gifted by Her Majesty The Queen.
The 24-carat piece of gold originated at the Clogau St. David mine, located near Bontddu in northwest Wales and owned by Clogau Gold of Wales. The Royals started receiving nuggets of the yellow metal from this mine back in 1923.
Photo from The Royal Family's Facebook page.
From Clogau St. David was also extracted the gold behind three generations of royal wedding bands, including those of the Queen Mother, the Queen, Princess Margaret, the Princess Royal and Diana, Princess of Wales.
Later on, in 1986, the Windsors started receiving gold from the Gwynfynydd mine, which is also located in northwest Wales and is now owned by Clogau.
The Clogau St. David and Gwynfynydd mines are currently closed, having last operated in the 1990s. However, early this year it was announced that the former might reopen.
London-based Alba Mineral Resources said it has taken a 49 per cent interest in Gold Mines of Wales Limited and that it had decided to restart the project because it sits on "a vastly under-explored exploration ground."
In terms of Prince Harry’s wedding ring, a press release issued by Buckingham Palace revealed that his was made of platinum with a textured finish.
The couple chose Cleave and Company to make their bands. They...
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Gold traded lower overnight in a narrow range of $1291.20 - $1286.30, but it held above the key support level of $1285 (yesterday’s low, up trendline from 12/15/16 $1123 low).
It traded against a firmer dollar (DX up to 93.65), which was boosted by weakness in the yen (110.71 – 111.08, weaker Japanese CPI) and the euro (dips to near 5-month low at $1.1771, Italian political concerns outweigh stronger German WPI and PPI reports).
A move up to a fresh 7-year high in the US 10-year bond yield (3.128%) boosted the greenback and was also a headwind for gold, as were mostly firmer global equities.
The NIKKEI rose 0.4%, the SCI gained 1.2%, Eurozone shares were flat to -0.1%, and S&P futures were +0.2%. A modest increase in oil (WTI from $71.50 - $71.75) aided the up move in stocks.
After the NY open, further weakness in the euro ($1.1749) and the pound (near 4-month lows at $1.3454, Brexit concerns, BoE dovishness) pushed the DX higher to 93.83 – a fresh 5-month high.
Gold, which had drifted up previously to $1288.50 was knocked back to $1286, but support ahead of $1285 was solid and held.
From mid-morning into the afternoon, US stocks turned down (S&P -11 to 2709) as tensions surrounding the trade talks between the US and China and a downbeat assessment on NAFTA negotiations by US Trade Rep Lighthizer weighed on sentiment.
A dip in oil (WTI down to 71.08) was also a headwind for stocks. The 10-year yield pulled back to 3.071%, and the DX was tugged down to 93.55.
Gold popped up in response and took out some stops over the overnight high ($1291.20) and yesterday’s reaction high at $1291.50 to reach $1294.50 – where resistance...