Global Wealth Distribution 2013

Cred­it Suisse have just released their lat­est Glob­al Wealth Data­book 2013

The most inter­est­ing point is this dia­gram rep­re­sent­ing Glob­al Wealth dis­tri­b­u­tion:

distribution of wealth around the world for 2013

Glob­al Wealth Pyra­mid 2013

If you have a net worth of over 1m USD then con­grat­u­la­tions — you have done extreme­ly well. You are in the top 0.7% of the Worlds Pop­u­la­tion. You lucky, lucky, lucky .… Stag­ger­ing. Con­verse­ly almost 70% of the world have less than 10k USD wealth.

Here’s an inter­est­ing quote from the report:

Apart from the rich lists, which cov­er a rel­a­tive­ly small num­ber of named indi­vid­u­als, there is a  scarci­ty of infor­ma­tion on wealth hold­ings above USD 1 mil­lion. Sur­vey details are patchy at best, and offi­cial sta­tis­tics based on tax returns are often inad­e­quate giv­en the com­plex­i­ty of  wealth own­er­ship arrange­ments.

Down­load a copy of the PDF report here — its inter­est­ing read­ing. And while you are there grab a copy of the Glob­al Wealth Report 2013 — it’s worth a skim too.

© Copy­right MMXIII RagingGoldenBull.com

Video — “Stop Thief!” — I am Being Robbed Blind!

Just made a Screen­cast of yes­ter­days Post called “Stop Thief! I’m being Robbed Blind!” — check-it out here:

 

Enjoy! As usu­al let’s us know what you think and give us your feed­back.

P.S.
This video is also post­ed on http://www.youtube.com/RagingGoldenBull

© Copy­right MMXIII RagingGoldenBull.com

Stop Thief!” — I am Being Robbed Blind!

We are surrounded by the Thievery Coporation - arm yourself with knowledge, a plan and take action now!

The Mas­ter Thief — But just who is it?

Most of humankind are being fleeced every­day and for the most part they are not even aware of it. Let me elab­o­rate if I may. In fact this has gone on for so long (longer than any­one alive can remem­ber), and so con­sis­tent­ly that peo­ple now think that this is nor­mal. How­ev­er, I am here to tell you — this is any­thing but.

Ques­tion: What was the price of an ounce of Gold in USD on May 1st 1933?

Answer: 20.67 USD/Ounce

Ok, so anoth­er ques­tion — just to make the point.

Ques­tion: What was the price of an ounce of Gold in USD on May 1st 2013?

Answer: 1,400 USD/Ounce (approx.)

So what’s the deal here?

The point is eas­i­er to under­stand if we invert the num­bers and take the rec­i­p­ro­cal (i.e.divide 1/[gold-price]). Refer to the fol­low­ing table:

Gold Price-Change Overview (1933 – 2013)

Gold Price-Change Overview (1933 – 2013)

Now it’s a bit clear­er to see what is going on. In 1933 one US Dol­lar would buy you 1/20th on an ounce of pure gold.

But if you try that today, you are only going to get 1/1400 on ounce of Gold.

Struth, I have been robbed! And you have been unless you took the time to buy a lit­tle Gold and/or Sil­ver.

Back in 1933 the US Dol­lar was real­ly pret­ty valu­able (com­pared to today at least!).

So just how do you think this grand theft took place? Have a pon­der and I will cov­er more next time. Till then, “Keep Stackin’ ” …

© Copy­right MMXIII RagingGoldenBull.com

Interesting Times …

The Chi­nese have an ancient curse which states:

May You Live in Inter­est­ing Times”

Well guess what? That’s exact­ly what you are doing right now, but maybe
you just haven’t noticed it. Or maybe you just accept it now as nor­mal.

Let me explain. We are liv­ing in the most unusu­al (read inter­est­ing) set
of finan­cial cir­cum­stances that this world have ever seen.

Maybe you have been so exposed to it and so famil­iar with it that you now
accept it as nor­mal. We no longer have a sound finan­cial sys­tem. It has
been replaced with the biggest Ponzi Scheme of all time. What is
con­sid­ered nor­mal or accept­able has shift­ed, slow­ly but sure­ly with the
pas­sage of time.

Cen­tral Bankers are to be blamed for all of these woes (ok TBTF banks
too). But con­tin­u­al­ly manip­u­lat­ing the sup­ply of mon­ey in their respec­tive
sys­tems, they have dilut­ed all our pre­cious mon­ey. so much so, that we are
near­ing the point of col­lapse, where it is just not cred­i­ble any­more.

Take some pre­cau­tions and make sure that you have at least 5 per­cent of
your net worth in some form of mate­r­i­al asset: Gold, Sil­ver, farm­land,
land, or some­thing. Of all Gold is prob­a­bly the eas­i­est to han­dle. That’s
why we rec­om­mend gold. It’s REAL MONEY!

So to recap. Don’t loose the faith and keep stackin’ …

© Copy­right MMXIII RagingGoldenBull.com

No Way Out for the Federal Reserve

No Way out for the Federal Reserve

No Way out for the Fed­er­al Reserve

There is no way-out of here for the Fed­er­al Reserve now.

After so much talk of taper (“Taper-Talk”) the Fed final­ly did­n’t fol­low-through. Why not? Because they can­not. That should be clear to any­one. There is not sur­prise here.

This is just talk. Schmoozing…Jive-talk…Rhetoric..Lies?

This is the clear­est sign yet that Bernanke’s poli­cies have failed. The roll­back deci­sion. He knows what’s com­ing and does not want to be around when it hits — and thus he is resign­ing (read — “get the hell out of Dodge!”) at end of year.

It is very, very, very sim­ple to under­stand:

  • Inter­est rates MUST stay low
  • If not the amount of bor­ing of US Gov­ern­ment will bank­rupt USA (it is already tech­ni­cal­ly bank­rupt)
  • So print mon­ey, buy bonds, keep rates low

There is a HUGE prob­lem with this approach — They will either want to stop or be made to stop some­time:

  • They will be made to stop by oth­er coun­tries aban­don­ing “incred­i­ble” US dol­lar (quite sim­ply no longer sound mon­ey)
  • They will want to stop to try to restore cred­i­bil­i­ty to the USD cur­ren­cy (not pos­si­ble when print­ing 85 Bil­lion USD per month — 1 Tril­lion USD per year)

When they stop (or the print­ing press is tak­en off them) the inter­est rates will rise.

The house of cards will fall.

© Copy­right MMXIII RagingGoldenBull.com

IMF “to admit mistakes” in handling Greek debt crisis and bailout — My response…

Here is a short piece that I felt I had to inter­ject at The Guardian (UK)

RagingGoldenBul unleashes on The Guardian (UK) about the IMF (International Mafia Federation)

Rag­ing­Gold­en­Bul unleash­es on The Guardian (UK) about the IMF (Inter­na­tion­al Mafia Fed­er­a­tion)

😉

Rag­ing­Gold­en­Bul — 05 June 2013 6:54pm

Rec­om­mend: 77

Let us not ponce about the prover­bial bush here my brethren:

The IMF (short for: Inter­na­tion­al Mafia Fed­er­a­tion) is noth­ing more than anoth­er pho­ny instru­ment cre­at­ed by the US gov­ern­ment, for the US gov­ern­ment, along with World Bank at that infa­mous Bret­ton Woods (1944) meet­ing where they strong armed the rest of the world over 21 long, gru­el­ing, and I would put it to you ardu­ous days (blood must have been pour­ing from the poor del­e­gates ears after day 12) while the world was still at WAR. Pic­ture it.

Oh how they seized their chance, dragged in John May­nard Keynes (UK in col­lu­sion – spe­cial rela­tion­ship you know), and invent­ed a crock, because no one had any choice. No Choice.

It is well known that M. Lagarde (after they ditched DSK) let the cat out of the “bail-in” bag way too ear­ly for the FedReserve, and the ECB, and thus both the Bernanke and the Draghi are now sour-puss­es. After those tril­lions of USDs that heli­copter Ben print­ed-up, M. Lagarde blew it in one momen­tary lapse of rea­son. Now Ben will bail-out him­self of the pic­ture at end of the cur­rent term as Gov­er­nor of the Fed.

Every­one knows that “Bail-ins” are com­ing now to a Bank near you real soon.…Are you ready for that?

Why does any­one lis­ten to a word these guys (Inter­na­tion­al Mafia Fed­er­a­tion) say any­more? Why do they point to them as if they are cred­i­ble?

It all leads back to one thing — US Dol­lar hege­mo­ny, and any­thing to keep that pup­py alive – alas brethren, the end is nigh.

Please excuse my rather fruity and col­or­ful lan­guage (sausage I hate US Eng­lish 😉 )…

Orig­i­nal Arti­cle:

The Inter­na­tion­al Mon­e­tary Fund is to admit that it has made seri­ous mis­takes in the han­dling of the sov­er­eign debt cri­sis in Greece, accord­ing to inter­nal reports due to be pub­lished lat­er on Wednes­day.

Doc­u­ments pre­sent­ed to the Fund’s board last Fri­day will reveal that the Wash­ing­ton-based organ­i­sa­tion under­es­ti­mat­ed the dam­age aus­ter­i­ty would cause to the euro­zone coun­try, which has required two bailouts in the past three years.

The Wall Street Jour­nal report­ed that the papers would say that finan­cial sup­port from the Fund, the Euro­pean Cen­tral Bank and the Euro­pean Com­mis­sion had bought time for Greece but had only been made pos­si­ble because the IMF had bent its own rules to make the coun­try’s debt look more sus­tain­able than it was. Accord­ing to the WSJ report, Greece failed to meet three of the Fund’s four tests to qual­i­fy for help.

A Fund spokes­woman said: “We will be pub­lish­ing a num­ber of papers on Greece lat­er today. The board met last Fri­day to dis­cuss sev­er­al doc­u­ments on Greece includ­ing the review of its pro­gramme and its annu­al eco­nom­ic assess­ment.”

Greece became the first euro­zone nation to require a bailout by the inter­na­tion­al com­mu­ni­ty in 2010, but need­ed a sec­ond round of finan­cial assis­tance in ear­ly 2012 when a deep reces­sion and high inter­est pay­ments threat­ened to send its debts spi­ralling out of con­trol.

The so-called troi­ka of the IMF, ECB and EC forced pri­vate sec­tor bond­hold­ers to write down the val­ue of their Greek bonds in an attempt to bring the coun­try’s debts down to sus­tain­able lev­els of 120% of nation­al income by 2020.

Chris­tine Lagarde, the man­ag­ing direc­tor of the Fund, has said many times over the past year that Greece should now be in a posi­tion to pay off its debts, but the WSJ reports that IMF staff believe this can­not be said with any cer­tain­ty.

In Athens, offi­cials react­ed with bare­ly dis­guised glee to the news.

The report con­firms what Greek offi­cials have long said: that the first bailout of uncom­pro­mis­ing bud­get cuts and tax increas­es, the price of 110 bn euro in emer­gency funds in May 2010, was the wrong pre­scrip­tion for a coun­try not only bat­ting a mon­u­men­tal debt load but ram­pant tax eva­sion and a flour­ish­ing black econ­o­my.

Under the weight of such mea­sures – applied across the board and hit­ting the poor­est hard­est – the econ­o­my, they said, was always bound to dive into an eco­nom­ic death spi­ral. “For too long they [troi­ka offi­cials] refused to accept that the pro­gramme was sim­ply off-tar­get by hid­ing behind our fail­ure to imple­ment struc­tur­al reforms,” said one insid­er. “Now that reforms are being applied they’ve had to accept the bit­ter truth.”

The Greek media recent­ly quot­ed IMF man­ag­ing direc­tor Chris­tine Lagarde describ­ing 2011 as a “lost year” part­ly because of mis­cal­cu­la­tions by the EU and IMF. The author­i­ta­tive Kathimeri­ni news­pa­per said the report iden­ti­fied a num­ber of “mis­takes” includ­ing the fail­ure of cred­i­tors to agree to a restruc­tur­ing of Greece’s debt bur­den ear­li­er – a fail­ure that had had a dis­as­trous effect on its macro-eco­nom­ic assump­tions.

From what we under­stand the IMF sin­gles out the EU for crit­i­cism in its han­dling of the prob­lem more than any­thing else,” said one well-placed offi­cial at the Greek finance min­istry. “But acknowl­edge­ment of these mis­takes will help us. It has already helped cut some slack and it will help us get what we real­ly need which is a hair­cut on our debt next year.

See the full sto­ry: http://www.guardian.co.uk/business/2013/jun/05/imf-admit-mistakes-greek-crisis-austerity#comment-24097893

© Copy­right MMXIII RagingGoldenBull.com

Howard Marks — Investing in Uncertain Times

Howard Marks (no, not the Gan­ga smug­gler) of Oak­tree Cap­i­tal has writ­ten some inter­est­ing (and haunt­ing­ly famil­iar) thoughts about invest­ing in uncer­tain times. The note are from the uni­ver­si­ty of oxford pri­vate equi­ty insti­tute pri­vate equi­ty forum 2013 on March 5.

There are some inter­est­ing ideas here about the macro set­ting of your strat­e­gy mov­ing for­ward from here. I think it would prove a use­ful exer­cise to review the points and check your own per­son­al answers. For exam­ple — Set­ting your strat­e­gy:

Do you expect pros­per­i­ty?

  • Yes -> lever­age, equi­ties, growth
  • No -> debt, val­ue, less lever­age

Which are you more con­cerned about los­ing?

  • Cap­i­tal
  • Oppor­tu­ni­ties

About you and your strat­e­gy:

  • Aggres­sive and risk bear­ing?
  • Cau­tion, con­ser­v­a­tive, risk con­trol

See the full pre­sen­ta­tion here (PDF for­mat): Howard Marks — Invest­ing in Uncer­tain Times

© Copy­right MMXIII RagingGoldenBull.com