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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    for the organization s loans London based researcher VM Group said The IMF s board approved a proposal in April to sell 403 3 metric tons of bullion as part of a plan to close the Washington based lender s annual deficit The gap had widened because of diminished income from loans to emerging markets where economic growth had reduced funding needs The IMF also planned sharp spending cuts at the time Loan demand has since strengthened because of the world slowdown potentially removing any need for the organization to sell gold VM said yesterday in a report The IMF has agreed to lend 47 9 billion to Iceland Ukraine Pakistan and other countries affected by the crisis The increase in loans means the fund s income will be rising too VM said Given the state of the world s economy and credit markets it is likely that outstanding loans will rise further boosting the fund s annual income A decision to sell any gold requires an 85 percent majority of the IMF s executive board and the board representative from the U S needs the approval of Congress to vote in favor of any sales according to the organization s Web site IMF Reserves The package of IMF governance reforms including gold sales was submitted to the U S Congress last November but will need to be reintroduced as a formality Conny Lotze an IMF spokeswoman said today in an e mail The timeline will depend on the Congress s schedule There are no plans to change the proposal for a new income model The IMF has the third largest gold reserves totaling about 3 217 tons according to December figures from the World Gold Council Bullion for immediate delivery traded at 946 59 an ounce as of 3

    Original URL path: http://www.tavid.ee/?main=11&newsID=235 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    risky assets for the relative safety of bullion amid renewed fears about the health of the global financial system The US Mint sold 92 000 ounces of its popular American Eagle coin last month almost four times that which it sold a year ago and more than it shipped during all of the first half of 2007 Other countries mints have also reported strong sales Large purchases of coins are perhaps the ultimate sign of safe haven gold buying said John Reade a precious metal strategist at UBS Inflows into gold backed exchange traded funds surged in January pushing their bullion holdings to an all time high of 1 317 tonnes Last month s flows of 105 tonnes were above September s previous record of 104 tonnes and absorbed about half the world s gold mine output for January said Barclays Capital We estimate that investment demand into gold could double in 2009 compared to 2007 said Mr Reade Purchases of physical gold have jumped over the last six months as investors fears about the current financial crisis have intensified The move into gold is being driven by the very rich with bankers saying that some clients are hoarding gold in their vaults UBS and Goldman Sachs said last week that investor hoarding would drive prices back above 1 000 an ounce Yesterday gold was trading at 892 an ounce Traders and analysts said jewellery demand historically the backbone of gold consumption had collapsed under the weight of the high prices Sharp falls in demand in the key markets of India Turkey and the Middle East have capped the potential of any price rally But the lack of jewellery demand has not discouraged investors Jonathan Spall director of commodities at Barclays Capital in London said We have seen more new

    Original URL path: http://www.tavid.ee/?main=11&newsID=233 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    that assessment The United States has financed debt with debt since the late 1980s when its external debt GDP broke the 0 mark Since then it has risen to over 100 of its GDP which in itself is quite artificially inflated because of manipulated hedonics adjusted inflation figures and now stands at 13 trillion That is what s called a debt bubble Bernie who But the debt bubble appears ready to collapse The pyramid scheme is finally running out of investors and many Treasury ETFs like SHY TLT IEF and IEI are showing classic parabolic topping patterns and the next few weeks should confirm or deny my suspicions Interest rates are at an obvious floor at zero so there is nowhere to go but up That means bond prices have nowhere to go but down and the falling prices will cascade into more selling until the debt bubble deflates and all the spending is financed by quantitative easing Judging by gold backwardation discussed later and the bearish charts on the bubbly debt ETFs I think the debt monetization and dollar devaluation will begin within the next six weeks The ProShares UltraShort Lehman 20 Year Treasury Bond ETF TBT and ProShares UltraShort Lehman 7 10 Year Treasury Bond ETF PST are good ways to play this debt market collapse With an insolvent public and no foreign demand for Treasuries the Federal Reserve will monetize debt to finance its continued bailouts and economic stimulus This is purely created capital pumped right into the system This is not anything new for the Fed for the past two decades it has kept interest rates artificially low and created massive artificial wealth in the form of malinvestment and debt financing In the past the Fed has been able to funnel the inflationary effects of its expansionary monetary policy into equity values with its low rates which discourage saving causing bubble after bubble The excess liquidity was soaked up by the stock market which gave the appearance of economic growth With inflation being funneled into equity and real estate over the last two decades illusory wealth was created and the public remained oblivious to the inflationary risk and the great disparity between real returns and nominal Now that the artificial wealth bubble of the past two decades is finally collapsing one of two scenarios can occur capital destruction or purchasing power destruction Capital destruction occurs when the monetary supply decreases as individuals and institutions sell assets to pay off debts and defaults and savings starts growing at the expense of consumption otherwise known as deleveraging This is deflation and the public immediately sees and feels its effect as savings accounts equity funds and wages start declining Deflation serves no benefit to the Federal Reserve as declining prices spur positive feedback panic selling and bank runs and debt repayments in nominal terms under deflation cause real losses Purchasing power destruction is much more desirable by the Fed Its effects are hidden to a certain extent as the public doesn t see any nominal losses and only feels wealth destruction in obscure price inflation It breeds perceptions of illusionary strength rather than deflation s exaggerated weakness The typical taxpayer will panic when his or her mutual fund goes down 20 but will probably not react to an expansion of monetary supply unless it reaches 1970s price inflationary levels In addition the government can pay back its public debt with devalued nominal dollars which transfers wealth from the taxpayers to the government to pay its debt Inflation is essentially a regressive consumption tax which the government wants and the Fed attempts to hide Not only is the Treasury s debt burden reduced but the government s tax revenues inherently increase The Fed in an effort to minimize inflationary perception has for the last two decades supported naked COMEX gold shorts to keep gold prices artificially low The Fed as well as European central banks unconditionally supported these naked shorts to deflate prices and stave off inflationary perception as gold prices stay artificially low This caused gold shorts to be guaranteed eventual profit by Western central banks offering huge artificial supply whenever necessary causing long positions in gold to be wiped out by margin calls and losses Now that the economy is contracting the Fed won t be able to funnel the excess liquidity into equities or other similar assets It also can t allow the unprecedented excess liquidity of today to be directly injected into the economy as that would be immediately very inflationary with more than three times the money chasing the same amount of goods technically leading to 300 price inflation These figures are strictly based on monetization of the Fed s current liabilities not including any future deficit spending which is sure to dramatically increase especially with Barack Obama s policies the American external debt or unfunded social programs that need payment as Baby Boomers retire In order to funnel the excess liquidity into a less harmful asset the Fed appears to be abandoning its support for gold naked shorts causing shorts to suffer their own margin calls and cause rapid price expansion in gold On December 2 for the first time in history gold reached backwardation Gold is not an asset that is consumed but rather stored so it is traditionally in what is called a contango market meaning the price for future delivery is higher than the spot price which is for immediate settlement This is sensible because gold has a carrying cost in the form of storage insurance and financing which is reflected in the time premium for its futures Backwardation is the opposite of contango representing a situation in which the spot price is higher than the price for future delivery On December 2 COMEX spot prices for gold were 1 99 higher than December gold futures which are for December 31 delivery This is highly unusual and it provides strong evidence for the theory that the Fed is abandoning its support

    Original URL path: http://www.tavid.ee/?main=11&newsID=230 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    asukohta Mida teada ja tähele panna välismaksete puhul Avaleht Uudised Uudised Goldman kuld 1000 dollarit kolme kuu pärast 05 02 2009 Äripäev Goldman Sachsi andmetel võivad nõrgenevad valuutad kulla lennutada 1000 le dollarile kolme kuuga kirjutab Bloomberg Turgu veavad praegu ootused kõrgemast inflatsioonist ja dollari nõrgenemisest sõnas Dresdner Banki tooraineanalüütik Bayram Dincer Goldmani analüütikud lisasid Kulla rallit tõmbab kasvanud nõudlus kulla kõigi vormide järele füüsiline kuld kullafondid ja kullafutuurid sest

    Original URL path: http://www.tavid.ee/?main=11&newsID=227 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    2009 Pärnu Postimees Mida soovitate inimesele kellel on näiteks 100 000 krooni vaba raha Osta kulda investeerida kulutada Kõige lihtsam on jätta see raha panka Hoiused on ju 50 000 euroni seadusega tagatud Olukorras kus tulevik ebakindel pole reservide kulutamine või nendega riskimine just kõige arukam tegevus Investeerimine kinnisvarasse või kulda on seotud ettevõtlusriskidega sest nii kulla kui kinnisvara hinnad kõiguvad üpris tugevasti mistõttu selline tehing võib inimesele kahjulikuks osutuda

    Original URL path: http://www.tavid.ee/?main=11&newsID=225 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    1 5 protsenti eilsest enam Ennenägematud keskpankurite sammud pangandussüsteemi päästmiseks on pannud investoreid kulla poole vaatama kirjutas Bloomberg 5 1 mld dollarilise mahuga Greenlight Capitali fondijuht David Einhorn ostis kulla esmakordselt Mullu tootlusega 99 fondijuhte löönud Federated Investorsi fondijuht Steven Lehman panustab kulla hinnatõusule ostes kaevanduskompaniide Yamana Gold ja Goldcorpi aktsiaid London Bullion Market Associationi küsitluse kohaselt tõuseb kulla hind tänavu vähemalt 17 protsenti aastalõpu 882 05 dollari tasemelt untsist Valitsused võivad trükkida piiramatult raha kuid nad ei saa suurendada kulla pakkumist ütles Delta Global Advisorsi peaökonomist Michael Pento kes kahekordistab kulla osakaalu varadest kaheksale protsendile Kõike mida valitsus ei saa paljundada tahan ma omada USA rahapada lõpetas juba septembris ühe untsiste American Buffalo kuldmüntide müügi kuna varud lõppesid Austraalia Perthi mündikoda teatas oktoobris et on viimasel kuuel kuul müntinud topeltkoguse Kangaroo ja Nugget münte Austria mündikoda on eelmise aasta esimese üheksa kuuga neljakordistanud kuldmüntide löömist SPDR Gold Trust mille aktsiaid saab börsidelt osta ja mis investeerib saadud raha kulda kasvas suuremaks kui enamus maailma keskpankade kullalaovarud seda on Vaid viiel keskpangal ja IMFil on rohkem kulda Šveitsi Züricher Kantonalbank teatas oktoobris et nende kullahoidla on täis Analüüsifirma GFMSi prognoosi kohaselt võib selle aasta esimesel poolaastal kuldplaatide nõudlus kasvada 49

    Original URL path: http://www.tavid.ee/?main=11&newsID=224 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    1660 muutusid Inglise kullasseppade kviitungid mugavaks alternatiiviks müntide või kullakangide kasutamisele Kullasseppade tähelepanek et laenajate jaoks osutusid need sama mugavaks kui hoiustajate jaoks tähistab rahatähtede kasutuselevõtu algust Inglismaal Aastal 1661 sai Rootsi Pangast esimene ametlik pank Euroopas mis väljastas pabertaalritena tuntud rahatähti Joonis 2 Rootsi Panga 50 taalriline rahatäht aastast 1666 1680 aastateks oli paberraha kasutamine hakanud levima ka teistesse Euroopa riikidesse ja Uude Maailma Alam Kanada Prantsusmaa koloonias kasutati mängukaartidele paigutatud rahatähti Ka teised kolooniad töötasid peagi välja oma paberraha Olemasolevad valuutad ringluses Praegu on kogu maailmas ringluses 176 valuutat Neist sugugi kõiki ei kasutata ega tunnustata laialdaselt nagu näiteks mitmed mitteametlikud Inglismaa piirkondade rahatähed Mani saar Jersey ja Guernsey Kõikide praeguste valuutade keskmine ringluses olemise vanus on ainult 39 aastas ja vähemalt üks neist Zimbabwe dollar rappub hüperinflatsiooni käes Allpool on loetletud kakskümmend pikima eaga valuutat Valuuta Kasutuselevõtt Ringluse kestus aastates Staatus Naelsterling GBP 1694 315 Ringluses Shoti nael SSP 1727 282 Ringluses USA dollar USD 1792 217 Ringluses Hollandi kulden NLG 1814 188 EURO 2002 Shveitsi frank CHF 1825 184 Ringluses Guernsey naelsterling GGP 1827 182 Ringluses Mehhiko peeso MXP 1822 170 Hüperinflatsioon Kanada dollar CAD 1841 168 Ringluses Belgia frank BEF 1835 167 EURO 2002 Kuuba peeso CUP 1857 150 Ringluses India ruupia INR 1861 148 Ringluses Mani nael IMP 1865 144 Ringluses Austria paberkulden ATP 1753 139 Asendati kursiga 1 2 Austria Ungari krooniga aastal 1892 Jaapani jeen JPY 1871 138 Ringluses Haiiti gurd HTG 1872 137 Ringluses Rootsi kroon SEK 1874 135 Ringluses Taani kroon DKK 1875 134 Ringluses Hispaania Peseeta ESP 1874 128 EURO 2002 Peruu sol PEH 1864 121 Kadus hüperinflatsiooni tõttu 1985 Itaalia liir ITL 1882 120 EURO 2002 Väljaspool ringlusse laskmise piirkonda ametlikult tunnustamata või väärtuseta Allpool on toodud graafikud mis näitavad kahe kõige kauem käibel olnud valuuta langevat väärtust Inglise naelsterling ja Ameerika Ühendriikide dollar mida peetakse kõigi aegade edukaimateks paberrahadeks Inglise naela ostujõud alates aastast 1694 Algselt oli Inglise naela väärtuseks üks troiunts 373 242 grammi proovihõbedat aastal 1560 Proovihõbe on hõbe puhtusega 92 5 ja ühes troinaelas on 12 troiuntsi Elizabeth I ja tema nõunik Sir Thomas Gresham kes sõnastas Gresham i seaduse kehtestasid uue valuuta et saavutada kord mille oli loonud aastate 1543 51 Suur devalveerimine kui Henry VIII püüdis rahastada oma kulukaid sõdu Prantsusmaa ja Šotimaaga Paberist rahatähed lasti ringlusse varsti pärast Inglise Panga asutamist aastal 1694 23 veebruari 2007 seisuga on praegu tarvis 86 2 GBP et sama troinaela koguses proovihõbedat osta langus on 98 8 USA dollari ostujõud alates aastast 1774 1792 aasta USA Müntimisseaduse alusel oli dollar seotud 24 75 graani kullaga Ühes troiuntsis on 480 graani Seega läks ühe troiuntsi kulla ostmiseks tarvis 19 4 USA dollarit 23 veebruaril 2007 läks sama troiuntsi kulla ostmiseks tarvis peaaegu 863 USA dollarit mis tähendab väärtuse langust 97 8 Käibelt kadunud valuutad Käesolev analüüs hõlmab 599 valuutat mis on käibelt kadunud Nende valuutade keskmine eluiga on ainult viisteist aastat 2 Järgnevas tabelis on kirjeldatud nende valuutade saatus gruppide lõikes Valuuta Valuutade arv Kirjeldus Võeti

    Original URL path: http://www.tavid.ee/?main=11&newsID=223 (2016-02-13)
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  • Valuutavahetus, Investeerimiskuld - Tavid Kuld & Valuuta
    said The commodity peaked at 1 032 70 on March 17 Morgan Stanley joins Standard Chartered Plc in raising its target for gold prices amid concern that the dollar may drop as the supply of the currency is increased President Barack Obama sworn in yesterday plans an 850 billion stimulus on top of a 700 billion bank bailout package enacted under his predecessor Devalued currencies growing global incomes and a renewed appreciation for gold should keep prices higher Morgan Stanley s New York based analyst Hussein Allidina wrote A globally synchronous and aggressive fiscal and monetary stimulus may be needed to re inflate the global economy and we think this continues to present significant upside to gold prices The International Monetary Fund has forecast that advanced economies including the U S will contract simultaneously this year for the first time since World War II spurring stimulus plans backed by more state debt Gold regarded by some investors as a safe haven asset can rise when the dollar falls Weaker Dollar Gold will remain relatively stable in the first half of the year then later a weaker dollar pickup in inflation and flight to safety will help gold test its record high again said Chen Yonglin an analyst at Citic Securities Co Gold climbed for an eighth year in 2008 gaining 5 8 percent in a year when most other asset classes saw double digit losses Morgan Stanley s Allidina wrote The U S dollar should weaken as the global economy recovers The metal for immediate delivery traded at 851 35 an ounce at 2 37 p m in Singapore and has averaged 846 18 an ounce this year Standard Chartered said in a report e mailed Jan 15 that gold may average 971 an ounce in 2009 up 11 percent

    Original URL path: http://www.tavid.ee/?main=11&newsID=222 (2016-02-13)
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