Diamond News Archives

Nomi Prins: Collusion will change the way we understand the new world of international finance.

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Usually, when you hear the word collusion, you might think of Russia and Special Counsel Robert Mueller's investigation. But there's also a troubling financial issue associated with that word exposed by former Wall Steet insider Nomi Prins. Ali Velshi speaks with Prins about the her new book, "Collusion: How Central Bankers Rigged the World^[1]."...

References

1. ^{^} Collusion: How Central Bankers Rigged the World (www.amazon.com)

Wolf Richter, Lance Roberts, Sven Henrich…familiar names all if you keep up with the news feed here at GoldSilver.

They and seven of their compatriots were asked by MarketWatch to offer up a single chart that best shows where we are in the economic cycle and what is likely to come.

By and large, they offered widely varying data points and theses, but with a resounding agreeance about where markets are headed: Down. A lot. Soon.

“Oh, that’s all, huh? No pressure.”

That’s basically the initial response we got when we asked an assortment of financial and economic types for what they consider to be “the chart of the century” — in other words, the chart that’s been hugely influential to their perspective, and positions.

Wolf Richter, the man behind the Wolf Street blog,^[1] had no trouble zeroing in on the theme for his pick for “chart of the century”: U.S. debt.

He did have trouble choosing whether the chart should show ballooning student loans, or ballooning government debt. Either way, ballooning’s the key, as he predicts both narratives will continue to raise alarms. When push came to shove, he opted for the government debt chart.

Spending and debt are also the theme of the chart selected by Lance Roberts, chief strategist for Clarity Financial. But his chart focuses on the consumer side of that picture.

Visualized here is the widening gap between cost of living, and the income and credit Americans have at their disposal. Up until the late 1980s, disposable income, savings and debt funded the standard cost of living. Since then, however, this chart shows that hasn’t been the case -- and the national personal savings rate has dropped from above 10%...

Botswana Diamonds (LON:BOD) is expanding its operations from its base country to neighbouring Zimbabwe by teaming up with Vast Resources (LON:VAST) to jointly explore for diamonds in that country.

The memorandum of understanding signed Tuesday sees the two companies exchanging past exploration information on areas prospective for diamonds in Zimbabwe. It also says the parties will set up a jointly-owned special purpose vehicle to develop and exploit diamond resources.

Vast acquired a database related to diamonds in Zimbabwe back in 2008. It has also, until 2010, carried out its own exploration in the field using information from the database.

Botswana Diamonds, in turn, has independently acquired a Zimbabwe diamond database and has expertise in exploration, development and mining of precious stones. In particular, it has access to technology relating to extracting diamonds from hard rock.

The Southern African nation has “excellent” diamond potential, Botswana Diamonds chairman John Teeling said in a statement.

Vast CEO Andrew Prelea said in a separate release that the new Zimbabwe government's desire to open the country up for business triggered the deal with Botswana Diamonds. He added his company believed it was the right time to use its industry knowledge to bring value for stakeholders by developing new resources.

Prelea was referring to Zimbabwe’s decision, announced in March, to relax its ownership laws requiring companies to sell or transfer 51% equity to black citizens, particularly in the platinum and diamond sectors.

Botswana, which was overtaken by Russia as the world’s top diamond producing country in 2014, is grappling with...

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