The Senate Committee on Business Professions and Economic Development and the Senate Committee on Banking & Financial Institutions have coauthored a bill that was initially designed to take aim at “hard-money” lenders in California, but experts say SB978 will sweep too many innocent borrowers and real estate investors into its net. Hard-money lending is when investment brokers take money from investors to make high-risk loans to others, and paying off the initial investor with the profits. Analysts say the current form of the bill requires copious filings for borrowers and brokers that hinder legitimate investment and slow good growth.
Some of those investors entrusted their entire life savings to brokers who used the money to make high-interest loans to people who either didn’t qualify for a traditional bank loan or who needed money fast.
First, the bill would amend Section 25102(e) to require a notice-filing for the offer or sale of evidences of indebtedness. This
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It’s This Bad Because It’s a Bottom: Eric Coffin
Eric Coffin, editor and publisher of the newsletter, has never heard so much negativity from investors. “Everybody thinks the world is coming to an end,” he tells As a contrarian, all the doom and gloom tells him the market is about to pull out of its tailspin. In this exclusive interview, Coffin talks about the hard-hit juniors in the Yukon and why it’s an area play he still believes in.
Eric, the gold bears recently outnumbered the gold bulls in Bloomberg’s weekly Gold Bull/Gold Bear Sentiment Survey for the fourth time in a year. Are you a bull or a bear?
Eric Coffin: I think the gold price is going to end the year higher, so I guess that makes me bullish, but I think of myself as agnostic.
There needs to be a return of calm to Europe for the gold price to move much higher.
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Travelling, you have several ways to exchange currencies, including airlines, banks, credit and debit cards, and ATM. These services are the most commonly used. But on the Web, you will find links that will guide you to discover more ways to exchange money is a fast and easy way. For example, if you decide to use Caxton foreign exchange services.
In addition, some professional and reliable foreign exchange providers are proving to be even better than the banks, because banks are not so constantly vigilant about market fluctuations. And therefore, they do not contact you about the current rate of currency exchange. This often results in missing the train! In other words, if there is a good rate of foreign currency exchange, and if banks do not inform you, then you will not get the maximum return on your money.
Professional currency exchange rate service providers are different from banks so that their specialists are in constant contact with the market, and when they get the best return on your money, they’ll call and ask your consent to execute of the transaction. Read more…
Gold’s London AM fix this morning was USD 1,660.75, EUR 1,245.31, and GBP 1,038.68 per ounce.
Yesterday’s AM fix was USD 1,655.75, EUR 1,245.86 and GBP 1,041.22 per ounce.
Gold fell $3.00/oz or 0.18% in New York yesterday and closed at $1,660.10/oz.
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The Canadian Real Estate Association’s most recent MLS Home Price Index indicates the country’s residential real estate market, which has been become well-known in recent years for its robust growth despite financial crises, may have finally found its peak. Year-on-year comparisons continue to grow smaller, with February’s increase marking the smallest since June 2011. Experts agree any gain is preferable to a drop in value, but the slowdown has many wondering how long it will be before price falls enter the picture.
Price growth in the residential property market in Canada is slowing with the latest MLS Home Price Index from the Canadian Real Estate Association (CREA) showing its smallest increase since June 2011.
Year on comparisons continued shrinking, providing further evidence that Canadian home price growth may be topping out, said CREA.
The index in February 2012 was up 5.1% from its year ago level, the smallest increase since June 2011 and the fourth consecutive month in which gains slowed.
Toronto posted the largest increase at 7.3%, but momentum continued fading. Price
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