Tuesday, October 18, 2011

Occupy Sydney

I went to the Occupy Sydney protest today and met up with the famous Danny.

I also spoke to another protester who was was giving a speech about the evil banks, we discussed silver and he gave a few shout outs to "Crash the Banks, Buy Silver"

Danny on youtube

More photos from the protest

Outside the headquarters of the Reserve Bank

A new global currency

Rome Riots

From: Euronews  | Oct 17, 2011

Dexia in the doldrums as rescue is probed

From: Euronews  | Oct 17, 2011

CrossTalk: Occupy Globe

From: RussiaToday  | Oct 17, 2011  

People are rising up against the authorities all around the world. Is this a crisis of the current political and economic system? What do these protests have in common? Is it democracy in action? Or is it all just an unwillingness to accept the new challenges new generations face? And can the government actually meet their demands? CrossTalking with Pepe Escobar, Richard Sennett and Ambassador Terry Miller.

Global Debt calculator

An amazing global debt calculator on the Economist website.Click here or on the image to go to the calculator.

OWS Mocked: US media backs the banks

From: RussiaToday  | Oct 17, 2011

HKG Trading Gold in Renminbi

By Nick Ferguson
Finance Asia, Hong Kong
Monday, October 17, 2011

Hong Kong's Chinese Gold & Silver Exchange Society officially starts trading gold denominated in renminbi today, in a bid to attract the HK$600 billion of Chinese currency sitting on deposit in the city’s banks.

Haywood Cheung, president of the 101-year-old bullion exchange, said the so-called Renminbi Kilobar Gold contracts could boost trading volumes by up to 30%, or HK$40 billion a day, during the next six months. Growth has already been strong this year, with average daily electronic transactions reaching HK$136 billion after a full-year average of just HK$31 billion in 2010.

"By attracting both local and international investors, the Renminbi Kilobar Gold is a significant step towards internationalising the renminbi," said Cheung. "It also consolidates Hong Kong's position as an offshore renminbi centre by providing investors with a new alternative in leveraged trading of renminbi."

Investors who choose to convert their renminbi bank deposits into the new gold contracts can gear up their exposure to the currency by as much as 25 times. During a visit to the exchange on Friday, Cheung told FinanceAsia that this ability to use leverage will prove attractive to investors, who until now have lacked opportunities to put their renminbi to work.

It also helps that gold and renminbi are both headline-grabbing investment trends. Cheung reckons they still offer value, arguing that gold is just half-way through a 10 to 15-year bull cycle and that renminbi will appreciate by 5% to 6% a year before it becomes freely convertible. That is an appealing proposition compared to moribund returns on bank deposits......read in full