Here is a link to one of my favorite sites — a global map that shows the performance all of the world’s stock markets. It gives you at quick at-a-glance view of the global stock market.
Not just the big ones — the U.S., Germany, China, Japan, United Kingdom — but even the more obscure markets like Pakistan, Nigeria, and Bolivia.
- China Shuangji Cement IPO The U.S. isn’t the only place Chinese companies go to be listed. There are many in Singapore, London, a few...
- Nintendo, the Japanese superstar If you own Nintendo (or are thinking about buying stock), you should read this article about it. Here is just...
- 3 Chinese ETFs This article has a nice description of the three ETFs that focus on Chinese stocks. FXI — FTSE/XINHUA China 25...
{ 6 comments… read them below or add one }
In Financeasia.com
article: Credit markets could be first to rebound
“Asian companies are buying back their debt with gusto”
Do you agree with this? Is this a sign that China is bouncing back?
Thanks Tony! …That’s a great link …..
Nothing I like better that a complete photo of what’s happening globally!
Cheers
B
Good afternoon,
PLEASE pass this on to Tony Sagami.
In his Money and Markets column of Tuesday, February 17, 2009, he stated that it costs $10 to produce a barrel of oil from tar sands. However, Matt Badiali, writing in the Wednesday, February 18, 2009 edition of “The Growth Stock Wire” (http://co115w.col115.mail.live.com/mail/InboxLight.aspx?FolderID=00000000-0000-0000-0000-000000000002&InboxSortAscending=False&InboxSortBy=Date&n=1935197336#), says that it costs at least $60 to produce a barrel of oil from tar sands. Which figure is correct?
Sincerely,
Jeff Kelsey
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The Government of Canada has no hatred to the Swiss banking system (per se), as Canada has a role in the French Speaking world similar to Switzerland. Swiss banks are at best working banks, with the real banking secrecy problems being in the Caribbean.
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One aspect of the Swiss Banking law that never has propagated outside the French speaking world is that in Switzerland itself:
It practically does not exist INTERNALLY, due to a clause inserted to help mainly the Swiss Postal Bank.
The clause was intended for Rural Switzerland, but it can be used in Urban Switzerland.
The clause allows anyone in Switzerland, in a transaction making capasity (ie: tradesmen) to not only look up your account, but to withdraw from it.
Paying bills by post is also probably part of the clause, or elsewhere — and there are security holes there too.
The clause does not allow for audit trails, that is to say you should have to at least have to sign something for the transaction to go thru.
For individuals with less than 300k EUR in Switzerland, you probably have good banking secrecy.
However, those with more than 300,000 EUR probably need to move their money to Monaco, Andorra and I will just say “The Cook Islands”… Let it be said that 300k EUR = 1m AUD.
The Swiss Postal Bank is probably the only safe bank in Europe, as the CHF is partly backed by Gold and the bank’s assets are backed by the state. Swiss private banks, due to some of them being part of the Madoff Scam — should be avoided like the plague.
Editorial note (AMEND):
“Banking Privacy practically does not exist INTERNALLY”
I forgot to make the correction … without it you may be confused a little.
Max Power’s remarks are almost all correct however, lack in clarity. The 300k€ threshold does not exist (our currency is Swiss francs) and any citizen, known or not to a bank in Switzerland receiving an amount more or less greater than CHF 100k is questioned as to its origin. Very often, in order to verify authenticity of existence, the bank asks to meet you in its offices. Most private banks won’t open an account unless you invest over Chf 500k with them.
As for banking secrecy, indeed it is embedded into Swiss law which provides substantial protection, both internally to Swiss citizens and externally to non-residents. However, it should be added that if a criminal offence is committed, all Swiss banks are required to provide any financial information belonging to an accused. It should also be stated that many Swiss banks have indeed collaborated with foreign authorities in many cases over the years. The problem Switzerland currently has in this respect lies in a substantially wide grey area that defines tax evasion and tax fraud, that differis considerably between one country and another.
UBS’s aggressive marketing policies in the United States has exacerbated the situation for Switzerland, where it is believed its management encouraged the more dubious incentive for investing in its bank than a more sound commercial one. In such financially tumultuous times (requiring governments to come to the rescue), this has quite rightly infuriated the American government and they have every incentive to expose those wealthy citizens shying away from civil resposabilities.
The Swiss however are crying ‘foul’ because there are many other counties, including Luxembourg, Austria, the United Kingdom, Cayman Islands to name but a few who harbour American citizens’ money just as secretly, some with less international collaboration in case of misdemeaner than Switzerland.
As for Tony Sagami’s article “How to Profit from Switzerland’s Loss”, it would seem amazing that whilst Switzerland is in effect acting as the scapegoat for harbouring hidden tax dues, others in the US are openly encouring exactly the same thing, through Singapore.
Quote:
The privacy laws in Singapore are also very strict. Divulging private financial information is now punishable by a fine of up to $78,000 and a prison sentence of three years.
For wealthy investors worried about the IRS getting hold of their not-so-secret Swiss bank accounts, Singapore is looking better and better.
Unquote
I fully agree with the US Government: Switzerland is not the target of wrath, it is those actively seeking tax evasion it is looking to repatriate. Let the above quote be a testimonial.
Will Singapore become the next global wrongdoers, or will it be yet again a Swiss bank operating out of Singapore?