Monday, July 27, 2009
Spitzer: Federal Reserve Is ‘A Ponzi Scheme, An Inside Job’
The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.
China's Car Sales Boom, Reshaping A Way Of Life
This city is a symbol of
Getting Real About Gold
America's third largest life insurer, Northwestern Mutual Life Insurance, has been in existence for 152 years. It has never in all those years bought gold - until now. The company has disclosed it recently invested around $US400 million to buy the yellow metal in the expectation that it was not only a prudent way to preserve its funds but also that the metal's price will rise significantly. This is significant because here is a presumably conservatively-run company putting a good deal of faith in gold. We’re not just listening to the gold bugs anymore - their predictions are finally coming true. The rest of the world is now starting to buy the gold story.
Friday, July 17, 2009
China’s Market Value Overtakes Japan
China overtook Japan as the world’s second-largest stock market by value for the first time in 18 months, after government stimulus spending and record bank lending boosted share prices this year. The Shanghai Composite Index rose 1.4 percent yesterday, sending the value of China’s domestic stock market to $3.21 trillion, compared with Japan’s $3.20 trillion, according to data compiled by Bloomberg. The Shanghai index has gained 75 percent this year, the best-performing major market, against a 5.5 percent advance in the Nikkei 225 Stock Average. The U.S. has the biggest equities market worth $10.8 trillion.
Moon Landing Tapes Erased
The original recordings of the first humans landing on the moon 40 years ago were erased and re-used, but newly restored copies of the original broadcast look even better, NASA officials said on Thursday.NASA released the first glimpses of a complete digital make-over of the original landing footage that clarifies the blurry and grainy images of Neil Armstrong and Buzz Aldrin walking on the surface of the moon. The full set of recordings, being cleaned up by Burbank, California-based Lowry Digital, will be released in September. The preview is available at http://www.nasa.gov.