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According to a joint release from China’s Ministry of Culture and Ministry of Commerce this past Friday, virtual currency (as well as “prepaid cards of cyber-games”) may no longer be legally traded for real goods or services. The official statement from the Ministries states: “The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services.” This decision,
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by Peter Blake For investors like small companies, an investment portfolio without precious metals like gold is embarrassing now, and there are too many compelling reason for investing in gold. Small companies now consider gold bullion to be the wisest investment tool to bank on. Most of the countries such as India are now investing on precious metals like gold by making jewelries and ornaments. This is a healthy and wealthy practice. However, it is better to invest in gold bars and c
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Mid-Day Report: Dollar Fights Back, More Sideway Trading? Dollar strikes back in early US session, with the help from falling oil and gold prices, and rebounds against most major currencies. In addition, worse than expected consumer confidence data ...
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by Peter Blake For investors like small companies, an investment portfolio without precious metals like gold is embarrassing now, and there are too many compelling reason for investing in gold. Small companies are now considering gold as the prudent resource to rely on. Almost every country including India and others are investing on gold through ornaments. This is definitely a wealthy investment. Though gold bars and gold coins are the best choice for investment, but gold which can b
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“Words from the Wise” this week comes to you in a shortened format as I do not have access to my normal research resources while on the road in Europe (also see my post “ Gone A.W.O.L. - to Slovenia and Switzerland “). Although very little commentary is provided, a full dose of excerpts from interesting news items and quotes from market commentators is included. While investors’ hopes of an economic recovery might have got ahead of reality, the cartoonists continually reminded us of worrisome
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The Chinese government stepped up and decided to ban all World of Warcraft gold farming and all other MMORPGs that has a currency exchange. Even the developers themselves are not permitted to exchange ingame assets for real goods and services. The Ministry of Commerce issued a press release yesterday stating: “The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goo
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Not much action in the markets on Friday. The Dow was off 34 points. Oil slipped to $69. Bonds rose a bit. Gold and the dollar remained pretty much where they were. The thought we kept having this weekend was an old one: that nothing is more dangerous than good luck. As Bret Harte said, "The only sure thing about luck is that it will change." And it certainly has a way of kicking you in the derriere. If you're lucky enough to win the lottery, you should watch your back. Almost all lotter
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BASEL, Switzerland Unprecedented attempts to stimulate economic growth may fail to bring a sustained recovery, yet withdrawing them too late could be even more risky, leading central bankers said on Monday. Regional currencies would gain in importa ...
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In the near-century since 1913, (the year the U.S. Federal Reserve was established) the World’s Reserve Currency, the U.S. Dollar, has lost at least 96% of its purchasing power. Among the many casualties of this Massive Devaluation are Retirees, Investors, and Savers who “stored”, they thought, the fruits of their labors in U.S. Dollar (i.e. U.S. Federal Reserve Note) denominated paper “Assets”.In the near-year since the Equities Markets began their Crash today’s hopeful wealth-builders, Invest
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You may have heard a lot about currency trading and though you might have heard about it’s profitability, thought it was not your cup of tea. In reality, the fact is once you get to know more about exchange currency you will change your opinion. Forex is actually a kind of trading market similar to the stock market, but it involves the trading of currencies of different countries by investors and business houses from across the globe. Basic knowledge about this trading will help reap sizable amo
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