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, During the last 3 years we have been warning investors for the crash of the ultimate Bubble, the Bond market. In the course of history we have seen a lot of bubbles forming and subsequently bursting. The most recent ones were the IT-Bubble of 1997- 1999 and the housing market bubble of 2002-2007. In all these cases bursting of[…]
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-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, Today February 22nd 2012, the Bank of England published the minutes of their February 8 & 9 2012, Monetary Policy Meeting, which shows that members had considered increasing its quantitative easing programme by more than the 50 billion British Pound cash injection made earlier this month. Policymakers voted by seven to two[…]
Dear PGM Capital Blog readers In accordance with the USA Debt Clock http://www.usdebtclock.org/ the USA has today, February 3rd 2012, a National Debt of approx. 15.3 Trillion USD. Based on its estimated nominal GDP of approx. 14.5 Trillion USD for 2011, the USA currently has a Debt to GDP ratio of over 100%. On top of this the USA has a budgetary deficit of approximately 10% and[…]
Dear PGM Capital Blog readers, we believe that the year 2011 that came to an end approx. 10 days ago will go into history as the year of the big lie, a year in which you were led to believe that the safest asset on earth is the US-Treasury Bond. The media lying to investors is nothing new. If we go back 12 years we see[…]
Dear PGM Capital Blog readers, first of all we want to wish you a Happy Holiday and a very prosperous 2012. I think that most of you are happy that the year 2011, which will go into history as one of the most volatile and non-realistic markets dominated by fear, has come to an end.[…]