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Featured Post

RV Intel/Thoughts/News - All Posts for December 5, 2016

Below is a list of all of the content posted for Monday, December 5, 2016. This will be useful for those of you who may have missed somethin...

Tuesday, August 23, 2016

"Yellow Brick is Golden" - Tues. PM KTFA News

KTFA

Thunderhawk » August 23rd, 2016


AND THE YELLOW BRICK IS GOLDEN - NEWS FROM THE LAND OF OZ



Gold and gems pile up in Singapore vault as investors seek refuge


SINGAPORE — The stash of gold, silver and gems stored in the vaults and safe deposit boxes of Malca-Amit in Singapore has jumped almost 90 per cent in the past year as wealthy investors seek a refuge in a world of negative interest rates, stagnating economies and political uncertainty.

The company’s facilities in the city-state are about 70 per cent full and more than 90 per cent of the hoard comprises precious metals, according to Mr Ariel Kohelet, managing director of Malca-Amit Singapore, a logistics and storage provider, without giving specific figures. Revenue has grown at least 45 per cent in 2016 from a year earlier, he said in an interview last week.

Gold has rallied 26 per cent this year and silver’s up 37 per cent as negative interest rates, the UK vote to leave the European Union and the US presidential race spur investors to protect their wealth. Billionaire bond-fund manager Bill Gross has said there’s little choice but gold and real estate given current bond yields, while hedge fund manager Eric Mindich almost tripled his options bet on a bullion-backed exchange-traded fund in the second quarter.

“We’re seeing a trend where high net-worth individuals are looking to diversify their portfolio into tangible assets like precious metals, precious stones,” said Mr Kohelet, who’s been with the company for 12 years. “This is mostly to preserve and protect their wealth. They’re looking into places like Hong Kong and Singapore as places they deem to be safe.”

MONEY PRINTING

A raft of investors have underscored the attraction of gold in a world where central banks are trying to revive growth by buying bonds and keeping their economies flush with cash. While billionaire George Soros cut his holding in Barrick Gold Corp in the second quarter, he bought shares in the SPDR Gold Trust. Mr Paul Singer, Mr David Einhorn and Mr Stan Druckenmiller have all expounded reasons this year for owning gold.

In Asia, where more than half the world’s bullion is consumed, people have always invested in gold, according to Mr Kohelet. “If you take China and India, it’s part of the culture and tradition to put some aside,” he said.

Malca-Amit has 1,000 square feet of space at the Singapore FreePort, a free trade zone, capable of storing 700 metric tonnes, while another warehouse at Changi airport’s airfreight centre has a capacity of 200 tonnes, Mr Kohelet said. In May, the company started a safe depository service called UltraVault and opened new facilities in the central business district, he said. BLOOMBERG

http://www.todayonline.com/singapore/gold-and-gems-pile-singapore-vault-investors-seek-refuge



Samson » August 23rd, 2016


China a booster, not a burden, for world economy

2016/8/22

China and its role in avoiding the "new mediocre" that threatens the global economy are again in the spotlight as the country prepares to hold the 11th G20 summit in Hangzhou.

Recent news about China's economy has not all been good. Economic growth has slowed, and expansion in retail sales, industrial output and investment have decelerated.

For those who cannot see the forest for the trees, pessimism and worries may persist about the state and future of the Chinese economy. Some have even pointed to China as a potential burden on the global economic recovery.

The anxiety is understandable, given the huge role China plays in the world economy. The slowing Chinese economy contributed over a quarter of global economic growth and added an equivalent of the Swedish economy in 2015. Any faltering of the second-largest economy would ripple throughout the world.

However, if one looks a bit deeper, it is clear the transforming Chinese economy will only improve the lackluster global situation.

Sure, the slowdown may linger, at least for the near future, as it will take time to digest the legacy of a long economic boom. And China, the largest developing and most populous country, has to strike a balance between remaking the economy and securing growth to create jobs.

From slashing industrial overcapacity to shutting down polluting factories, the short-term effects of China's efforts to nurture consumer-driven growth and reduce reliance on investment, low-end exports and energy consumption will be felt acutely.

In addition, new problems, such as high debt levels, industrial overcapacity, environmental degradation and sluggish global demand, mean the economy must be directed along a more sustainable path.

However, global investors are poised to reap gains from a more robust market.

As David Dollar, a senior research fellow at the Brookings Institution, put it, China's continued strong growth in recent years, despite slowed investment, was achieved thanks to increasing consumption.

China's economic growth is entering a positive cycle, as domestic consumption grows due to rising wages, leading to the expansion of services, which generate more jobs and higher spending power, said the former official of the World Bank.

For China's massive economy, the transition to a service and consumption-driven economy, accompanied by an improved social security system, will unleash huge demand and business opportunities.

From Uzbek cotton to Chilean wines, from Brazilian soybeans to Ecuadorian seafood, from Japanese robots to American movies, more and more countries are discovering the growing market for their exports as China's 1.3 billion people become more prosperous and start to consume more.

As China transitions from being the world's workshop to an influential global consumer of goods and services, its economy will boost developing and developed countries alike.
The transition is already under way, with the service sector expanding 7.5 percent in the first half of 2016, accounting for 54.1 percent of the overall economy, up 1.8 percentage points from a year earlier.

In 2015, consumption accounted for over 66 percent of China's gross domestic product, up 15.4 percentage points from 2014.

As heavy industry and traditional manufacturing wrestle with slowing demand overseas and overcapacity at home, new engines are humming: social media, cinemas, travel and R&D are driving consumption, services and the high-tech sector.

Growing demand from Chinese consumers is set to continue, bringing more services, imports and new investment opportunities for the world economy.

China's economic transition will continue and will be positive overall for the global economy, the International Monetary Fund (IMF) said in a report earlier in August.

"Many countries could only dream of achieving growth rates that China has and is likely to achieve, which also reflects positively on the reforms that Chinese policymakers have undertaken," said James Daniel, the IMF mission chief for China.

http://www.globaltimes.cn/content/1001963.shtml

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