Föhrenbergkreis Finanzwirtschaft

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Archive for 4. März 2017

Rethinking Productivity Growth

Posted by hkarner - 4. März 2017

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Trump Trade Pushes Gold, Dollar Further Apart

Posted by hkarner - 4. März 2017

Date: 03-03-2017
Source: The Wall Street Journal

The Trump era has brought a lot of polarization. And not just in the capital.

In financial markets, a deeper wedge is being driven between gold and the dollar, two long-standing foes. The pair often moves in opposite directions, a trend that became dramatically stronger starting late last year.

Their negative correlation hovers at -60%, compared with a -32% long-term average, said Suki Cooper, precious metals analyst at Standard Chartered Bank in New York. A Wall Street Journal analysis of the 60-day rolling correlation between gold and the dollar shows the two were recently moving more strongly against each other than any time in the last 13 years.

It started hitting those lows right around Election Day. Gold traders have been closely monitoring the U.S. economic and political environment, concerned about whether a new regime in the White House may lead to global instability, Ms. Cooper said. That overlaps with the historic negative relationship between gold and the dollar, pushing them even further apart. Den Rest des Beitrags lesen »

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Gold 2.0 (Bitcoin) Price Now Higher Than Gold 1.0 (Gold)

Posted by hkarner - 4. März 2017

Date: 03-03-2017
Source: The Wall Street Journal

Gold 2.0 is now pricier than gold 1.0.

Bitcoin CCThe price of bitcoin surged on Thursday to a fresh record, trading as high as $1,252. That is above the previous all-time high of $1,242 that the currency set back on Nov. 29, 2013, on the Mt. Gox exchange before that exchange’s collapse (because that price was recorded only on Mt. Gox, it generally was not regard as the currency’s “real” record high, though it was a real price paid).

More notably, the new high is symbolically important for this reason: It’s above the price of gold. The price on the most active gold futures contract on Thursday was down 0.7% at $1,241. That means that, at least for the time being, gold 2.0 has reached parity with gold 1.0.

While it’s debatable whether or not one bitcoin is the equivalent of one ounce of gold, if the prices hold, it would mark bitcoin’s first-ever “close” above gold, according to data from WSJ’s Market Data Group. That’s notable for bitcoin, and the groups that are promoting it as a 21st-century version of gold, a modern, digital, store of value. Den Rest des Beitrags lesen »

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Trump’s Trade Revanchism

Posted by hkarner - 4. März 2017

 

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The German Right Believes It’s Time to Discard the Country’s Historical Guilt

Posted by hkarner - 4. März 2017

Date: 02-03-2017
Source: The Wall Street Journal

As part of the nationalist tide sweeping Europe, the Alternative for Germany is pushing to change how the country views its Nazi past, upending decades of consensus

KARLSRUHE, Germany—The draft budget for Baden-Württemberg state set aside $69,000 this year for educational trips to “memorials of National Socialist injustice.”

The Alternative for Germany party submitted a motion to strike the reference to the Nazi Party and instead use the money for visits to “significant German historic sites.”

“We strive for a balanced view of history,” the motion said. “A one-sided concentration on 12 years of National Socialist injustice is to be rejected.” Den Rest des Beitrags lesen »

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