The German government will allocate nearly €94 billion for incoming refugees over the next five years. This includes housing, integration, German language courses and social welfare benefits, and dealing with the underlying causes of the refugee influx.
Germany’s Der Spiegel cites a Federal Ministry of Finance (BMF) statement, which estimates that the number of asylum seekers entering the country will be around 600,000 in 2016, some 400,000 in 2017 and about 300,000 each consecuti... (more)
Vox Day joins Stefan Molyneux to discuss objections to free trade, the European response to the migrant crisis, the lack of immigrant assimilation, why liberals don't value diversity, how equality is impossible, the rise of nationalist political parties, generational differences on multiculturalism in Europe, how we're running out of time and the connection between migration and warfare.
Overnight a historic event took place when China, the world's top gold consumer, launched a yuan-denominated gold benchmark as had been previewed here previously, in what Reuters dubbed "an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market." Considering the now officially-confirmed rigging of the gold and silver fix courtesy of last week's Deutsche Bank settlement, this is hardly bad news and may finally lead ... (more)
Donald Trump continued to streamroll over all conventional narratives when during a massive 96-minute interview with the Washington Post on Thursday which was released today, in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president, he said that economic conditions are so perilous that the country is headed for a "very massive recession" and that "it's a terrible time right now... (more)
The basic idea of free trade -- that two people trading with each other do not benefit from a third party intervening with taxation -- is certainly solid in theory, but in the real world with competing nation states how does it work in practice?
The legacy recording industry just has a way with attacking any new technology service that helps it adapt, doesn't it? Whether it's ringtones or video games or YouTube or iTunes, the industry always takes the same basic approach: denounce the new offering as evil. Threaten and/or sue. Maybe take some equity as a way to "settle" the legal thr... (more)
The Bundesbank has announced plans to repatriate some of Germany's gold reserves from abroad. At least half of the country's gold would be transferred to Frankfurt by 2020, according to Bundesbank President Jens Weidmann.
Weidmann says 366 tons of gold worth €11.5 billion have been delivered to Frankfurt so far. "There are now about 1,400 tons or 41.5 percent of our gold reserves here," the banker said.
In October last year Germany’s gold reserves stood to arou... (more)
Whenever Marc Faber appears in the financial media, in this case Bloomberg TV, one can expect the usual fire and brimstone sermon of how micromanagement of the global economy by central bankers will lead to disastrous results, something which we agree with wholeheartedly and as of two months ago, so did virtually every billionaire at Davos. Recall that just at the end of January, the WSJ when reporting from Davos said that "The world's central banks can't save us anymore. That was the messag... (more)
Media analyst Mark Dice tries to sell a 100 ounce bar of .999 fine silver bullion for $25 outside of a coin shop in San Diego, California. HINT- It's worth WAY more than that, but does anyone want it? He even offers to trade the bar for a woman's bottle of water. Watch to find out what happened!
Central banks around the globe are pursuing strategies that will put all financial assets into government hands, Marc Faber explains to CNBC this morning, taking the opportunity to endorse Donald Trump's bid for the U.S. presidency. As CNBC reports, Faber expects that asset buying by global central banks will only increase, even though he ... (more)
Uncle Sam hauled in $1.248 trillion in taxes for the first five months of fiscal year 2016, costing each taxpayer $8,263, according a monthly Treasury Department statement. Even after adjusting for inflation, however, the government is still in the red.
The federal government collected more money between October 2015 and February 2016 than it did any other five months in history, said the Treasury statement, released on Thursday. The US fiscal year begins on October 1 and... (more)
Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold.
The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left.
According to Finance Department data, Canada sold 41,106 ounces of gold coins in December and another ... (more)