Check out this article from MarketWatch.com: Global equity ETFs are vacuuming up cash
Looks like money’s getting offshore and headed to emerging markets… again. Diversified Emerging Market ETFs have seen inflows of $6.8 billion so far this year. Boy, I love it when we’re right.
Economic sanctions are starting to have an effect on Iran. Reuters reports that the country has defaulted on its payments for rice to India.
Iranian buyers have defaulted on payments for about 200,000 tonnes of rice from their top supplier India, exporters and rice millers said on Tuesday, a sign of the mounting pressure on Tehran from a new wave of Western sanctions.
Now Iran can’t buy Indian rice on credit. Read More
At long last, investigators have tracked the billions of dollars in MF Global customer money. They found it –
Oh, wait. They’re not saying where they found it, because their afraid it’ll disappear again, and they won’t be able to retrieve it or potentially prosecute anyone for wrongdoing.
Either this is a big ruse to make people feel better that their money’s been found, or investigators are just dumb. If I was holding $20 million in dirty money from MF Global, do you think I’d wait around after you said you were able to trace it? Heck no!
The chances of those customers getting that money back are falling quickly…
