Sunday, January 13, 2019
Wednesday, January 9, 2019
Gold: China Adds to Gold Reserves, Remains a Distant Second Behind the USA's ~8,000 t
http://www.mining.com/web/china-adds-gold-reserves-first-time-since-october-2016/?utm_source=digest-en-mining-190107&utm_medium=email&utm_campaign=digest
Still another month away from its own New Year, the gold party has already started and in light of recent trade and tariff tensions with the USA. For context, China's 59.6 million oz (1,861 t) compares to the USA's ~256 million oz (~8,000 t) and the SPDR Gold Trust's, world's largest gold ETF, at 25.6 million oz (796 t).
Significant, why? "The Asian nation has previously spent long periods without revealing increases in gold holdings. When the central bank announced a 57 percent jump in reserves to 53.3 million ounces in July 2015, it was the first update in six years."
Still another month away from its own New Year, the gold party has already started and in light of recent trade and tariff tensions with the USA. For context, China's 59.6 million oz (1,861 t) compares to the USA's ~256 million oz (~8,000 t) and the SPDR Gold Trust's, world's largest gold ETF, at 25.6 million oz (796 t).
Significant, why? "The Asian nation has previously spent long periods without revealing increases in gold holdings. When the central bank announced a 57 percent jump in reserves to 53.3 million ounces in July 2015, it was the first update in six years."
Tuesday, January 8, 2019
CPP Ads During NFL Playoffs? Your National Pension Plan (That Is, Legally Forced Contributions), Is Acting Like a Mutual Fund?!?!?
https://nationalpost.com/opinion/andrew-coyne-cpp-ads-on-nfl-playoffs-your-pension-dollars-at-work-for-the-liberals
"...True, the timing of the ad is suggestive, appearing as it is in the very week when workers are likely to notice the CPP taking a bigger bite out of their paycheques than ever before. Employer and employee contributions are rising from 4.95 per cent of pensionable earnings to 5.1 per cent, the first of several annual increases between now and 2023.
But the CPP isn’t a mutual fund: it doesn’t have to persuade Canadians to park their money with it. They have to, by law. No matter how irritated they may be at seeing more and more of their wages going to the CPP, there is no way they can withdraw from the plan, and no prospect of the increases being reversed. So why is the CPPIB paying — or rather, why are we paying — for expensive ads designed to make us feel good about all this “saving” and “investment”?.."
"...True, the timing of the ad is suggestive, appearing as it is in the very week when workers are likely to notice the CPP taking a bigger bite out of their paycheques than ever before. Employer and employee contributions are rising from 4.95 per cent of pensionable earnings to 5.1 per cent, the first of several annual increases between now and 2023.
But the CPP isn’t a mutual fund: it doesn’t have to persuade Canadians to park their money with it. They have to, by law. No matter how irritated they may be at seeing more and more of their wages going to the CPP, there is no way they can withdraw from the plan, and no prospect of the increases being reversed. So why is the CPPIB paying — or rather, why are we paying — for expensive ads designed to make us feel good about all this “saving” and “investment”?.."
Monday, January 7, 2019
Friday, January 4, 2019
Minister of Imagination: MP Navdeep Bains
Can anyone tell me what MP Bains does everyday or what a Minister of Innovation is supposed to be doing? Bains is less visible than Polkaroo ("Imagine, imagine, you can imagine...").
This "innovation" file has resulted in nothing for Canada except hundreds of millions of tax dollars being spent on the Liberal pipe dream of Canada moving away from resources and becoming a global tech giant? In a world where Silicon Valley and Asia have light years of a head start with etsablished tech cultures and industries, tax focused regimes, risk taking private capital groups, entrepreneurs, etc?
Thursday, January 3, 2019
Pensions - Even Though They are "Defined Benefit"...
"...Mercer Canada estimated that less than 30 per cent of Canadian defined pension plans were fully funded at the end of 2018, while Aon estimated 38.5 per cent of plans were fully funded as of Jan 1.."
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