LIBOR Is Bigger Than We Thought And It May Have Relatives

Back in July of 2012 many of us first learned about the scandal involving LIBOR which stands for London Inter-Bank Offer Rate. It is in fact the daily global loan rates that banks charge each other to swap contracts, which are used to set the price from credit card rates to student loans and just about everything else. As it turns out, that amount figures upwards of hundreds of trillions of dollars. MIT professor Andrew Lo remarked that it “dwarfs … Read More »

Ghosts In The Stock Market Machines, And They Are Reading Twitter

Any one who remembers the Stock Market “Flash Crash” back on May 6, 2010 may have experienced a sinking “Oh no, not again!” feeling from the quick dip the stock market took recently. At first we were relieved to hear that it was a false call, that it was due to a trading computer picking up on a hacked Associated Press Twitter account. Then the implications began to become obvious and there was a collective “Uh oh.” Sal Arnuk, a … Read More »

Gold Coins, Netherlands 10 Guilder

Like its history, The Netherlands has minted a variety of Gold Coins with a number of different names and values including ducats, florins, florins d’or, duits, stuivers, cavaliers, gulden or guilders, and ducatons. The Netherlands or Holland, as it is known by some today, is nestled between Germany, Belgium and the North Sea and enjoys a wide ranging history from as early as the 8th century when it was included to make up the Empire of Charlemagne. Throughout history the … Read More »

Gold Price vs Gold Value

There has been much discussion in the press and elsewhere as to whether the amazing 12 year bull Gold Price rally may have come to a halt. There are those that point to the sell off and subsequent stabilization as proof of this, though many called for the price of gold to go much lower. In a recent article entitled “Gold Is Undervalued In Fiat Money Terms,” Author Ben Davies states, “First off to state publicly, gold is still undervalued … Read More »

Banks Too Big To Fail Or Too Big To Bail

In response to those that believe there are Banks Too Big To Fail, Ms Lagarde, Managing Director for the International Monetary Fund spoke in New York ahead of next week’s IMF Spring meeting, and blasted the financial services industry for opposing needed reform. “In too many cases – from the United States in 2008 to Cyprus today – we have seen what happens when a banking sector chooses the quick buck over the lasting benefit, backing a business model that … Read More »

Economy Idling Along – Recovery or a Recession

It should not surprise anyone who has found themselves observing our economy on idle for the last few years wondering if we are in a Recovery Or A Recession. Lets call it a “recussion,” an economy that either can’t quite make up its mind what it wants to do or a puppeteer that is getting the strings tangled up. Either way, it is confusing and a bit scary. Wilbur Ross, chairman & CEO of WL Ross & Co. LLC, observed … Read More »

Sub-Prime Auto Loans On The Horizon

If you remember the sub-prime mortgage loan debacle a few years ago and the recession that followed that popped bubble, it just might keep you up at night to know that the same inventive financing is beginning in another industry, in Sub-Prime Auto Loans. Meet Jeffrey Nelson, a local constable and part-time bus driver in Jasper, Alabama. One of the family vehicles had already been repossessed and bills were starting to pile up. Even though his credit history was less … Read More »