Dear PGM-Capital Blog readers, ECB and FED Chairmen have spoken and they both declared to do whatever it takes (read to buy an unlimited amount of bonds) to respectively save the Euro and to safeguard the USA from going into Recession/Depression. Ladies & Gentlemen, Look how far our moral and values have fallen! The Economy of the West is in such an alarming stage that it can only survive and not[…]
Dear PGM Capital Blog readers, Belize, a Central American nation, today announced that they will miss a coupon payment on about US$544 million of bonds and is unlikely to pay creditors during a 30-day grace period that starts today: The Central American nation, which owes investors about US$23 million today, can’t make the payment, Waight[…]
Dear PGM-Capital Blog readers, Yesterday, July 24th 2012, based by fear, investors fled into US-Treasuries with the consequence that the yield of the 10-year note depreciated to a 50- year low of 1.39% as can be seen from below charts. Subsequently the USD Index rose to a two year high of 84.1. Buying 10 year US-Treasuries at yield of 1.47% is more or[…]
Dear PGM-Capital Blog readers, Today July 23rd 2012, China CNOOC Ltd (NYSE: CEO, HKSE: 0883.HK) anounced that it has entered into a definitive agreement to acquire all the outstanding common shares of Canadian Oil & Gas Company NEXEN Inc (NYSE: NXY, TSX: NXY), for US$27.50 per share in cash. The purchase price, which totals approx US$ 15.1 billion, represents[…]
Dear PGM-Capital Blog readers, Last Thursday, July 5th 2012, will go into history as the day that 3 major Central Banks, “The Bank of England“, “The European Central Bank” and the “The People’s Bank of China“, signaled their determination to stimulate the flagging global economy. Highlights: The Bank of England’s monetary policy committee, said that it would inject an[…]
Dear PGM Capital, Blog readers, In our blog post of Last Sunday, May 6th 2012, entitled “Are You Prepared for a World Heading for Populism?” we analyzed how growing populism, combined with excessive debt and aging population in the west, may trigger a very hard, deep and long depression. Although we dislike being right about[…]
Dear PGM Blog readers, If you have watched the headlines lately, the following news headlines of the last two weeks should have captured your attention: Argentina Nationalizes “REPSOL-YPF” Bolivia Nationalizes Electricity Company “REE” Today, Sunday May 6th 2012 will go into history as the day that Greece and France shifted politically from the center to respectively extreme left[…]
Dear PGM-Capital Blog readers, During this weekend we took some time to read the book “Der Staatsbankrott kommt” (The state bankruptcy is coming!) by Michael Grandt, with the fitting sub-title “Retten Sie Ihr Vermögen, solange Sie es noch können!” (Save your wealth as long this is still possible). Using lots of examples taken from Greece, Michael Grant[…]
Dear PGM-Capital Blog readers, This weekend we would like to discuss with you the “Market Volatility Index”, better known as the VIX-Index or Fear-Index. The volatility index (“VIX”) is an index that measures expectations of volatility, or fluctuations in price, of the S&P 500 index. Higher values for the volatility index indicate that investors expect the value of the S&P 500[…]
Dear PGM-Capital Blog readers, Since July 22nd 2011 we have seen investors, driven by fear, running in the wrong direction, by buying US-Treasuries as a safe haven and sending the yield of the 10-year note to a historic minimum of approx. 1.75% by early October of 2011. History has proven that Greed & Fear will block common sense[…]