Now, Paytm allows you to buy ‘digital gold’ for as low as Re 1

April 27, 2017 Posted by admin

India’s e wallet firm, Paytm has joined hands with with MMTC-PAMP to launch ‘Digital Gold’ that will allow its users to buy and sell gold through the electronic platform.

With the help of Paytm wallet , users can purchase 24K 999.9 purity gold online and store it in MMTC-PAMP’s secure vaults free of charge.

The gold will be delivered at users’ doorstep in the form of minted coins. Users can also sell back the purchased gold online to MMTC-PAMP.

“Indians have traditionally bought gold at high fixed denominations, and without visibility to market linked prices. Purity, security, and storage charges are some of the challenges they face,” MMTC-PAMP Chairman Mehdi Barkhordar said.

He added that the partnership will ensure that masses can have access to high quality gold and they can also invest in gold in an affordable manner.

India is the world’s largest consumer of gold. An estimated 24,000 tonnes worth USD 900 billion of gold is locked away in homes and bank lockers in India.

“Gold is the preferred form of investment for Indians, and we are making it easier for our users to invest in gold digitally. With this product, our customers can buy and sell international quality gold at market-linked prices instantly,” Paytm founder and CEO Vijay Shekhar Sharma said.

He added that consumers will be able to buy gold for as low as Re 1 using their Paytm wallets.

Meanwhile, Alibaba-backed Paytm expects its platform to facilitate 4 billion transactions this fiscal, enthused by the strong uptake of digital payments in the country.

It had registered 1.5 billion transactions on its platform last year.

“We have seen significant growth and this year too, we expect to see a manifold growth to 4.5 billion. A significant part of this growth is coming from tier II and beyond cities,” Paytm founder and CEO Vijay Shekhar Sharma said.

He added that cities like Jaipur, Sonipat, Vijayawada, Visakhapatnam and Durgapur were among the fastest growing for the company.

At the end of March 2017, Paytm had 218 million mobile wallet users.

Paytm has been one of the biggest beneficiaries of the government move to scrap old notes of Rs 500 and Rs 1,000 in November last year.

The company today announced partnership with MMTC-PAMP to enable consumers buy digital gold for as low as Re 1 using their Paytm accounts.

Consumers, once they buy about 1 gram of gold in their account, can also ask for the coin to be delivered to their doorstep.

(With inputs from PTI)

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Wayne State encourages going green in residential areas

April 26, 2017 Posted by admin

Recycling is not a hard task to do, its actually quite easy. Throwing away trash has a tremendous effect on the environment,

“Recycling is not a hard task to do, it’s actually quite easy. Throwing away trash has a tremendous effect on the environment,”

Posted: Tuesday, April 25, 2017 12:30 pm

Updated: 2:27 pm, Tue Apr 25, 2017.

Wayne State encourages going green in residential areas

Kyshela Gardner


Wayne State students may have noticed the green and gold recycling bins on campus. 

WSU currently uses a program where recyclables are picked up and sorted at a recycling facility to later be made into new items. WSU’s waste and recycling service provider, Advanced Disposal, outlines the waste stream process in its recycling diagram.

WSU students should expect to see more recycling bins in their living areas by fall 2017.

Student Senate Housing and Residential Life Representative Giselle Gaitan said WSU is working with campus housing to place more receptacles in residential areas. She said they recently ordered an additional 60 recycling bins assigned for designated areas.

Gaitan is one among many at WSU who are passionate about the environment.

“Recycling is not a hard task to do, it’s actually quite easy. Throwing away trash has a tremendous effect on the environment,” Gaitan said.

Student recycling habits were noticed by seven-year WSU custodian Jerome Moulden.

“Some of the students do put the items in the recycling bins, some students ask where the recycling bins are so they can put the proper items in the right place and some of them just don’t do it all,” he said. “But there are students that do care about the recycling program. I think the recycling program is under control, it’s more up to the students to know where the recycling bins are.”

Daryl Pierson, sustainability coordinator for the Office of Campus Sustainability, said WSU recycled 552 tons of cardboard, 165 tons of paper, 17 tons of plastic, 16 tons of aluminum and 34 tons of scrap metal last year.

In January alone, WSU has already recycled 14.96 tons of paper, 50.06 tons of cardboard and 1.51 tons of plastic and aluminum in total, according to an Advanced Disposal recycling report.

Recycling bins can be seen all over WSU’s main campus. From Woodward to the John C. Lodge service drive, the OCS provides a list with of over 50 buildings that host these green and gold bins.

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Tuesday, April 25, 2017 12:30 pm.

Updated: 2:27 pm.

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Recycling Bin,

Daryl Pierson,

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Giselle Gaitan,


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Jerome Moulden,

Student Senate,

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Sustainability Coordinator

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Nearly 100 Days In, Is Trump Any Closer to Fiscal Reform?

April 25, 2017 Posted by admin

 — Published: Tuesday, 25 April 2017 | Print  | Disqus 

By Frank Holmes

I will be visiting the White House next week for the Energy Policy  Geopolitics Conference

This week I will be in Washington, D.C., attending Evercore ISIs Energy Policy Geopolitics Conference, where I will be visiting senior staff from the White House infrastructure team and House Energy and Commerce Committee. I will also be meeting with John Fagan, head of the Treasury Departments Markets Room, and Robin Dunnigan, the Bureau of Energy Resources Deputy Assistant Secretary for Energy Diplomacy. Among the topics of discussion will include energy independence, legal and policy issues impacting the energy sector, tax reform and geopolitical risks in Syria, Russia and Iran.

I want to extend my gratitude for this opportunity to Evercore ISI chairman Ed Hyman, who was ranked as the top economist by Institutional Investor magazine for 35 straight years, from 1980 to 2014. Ill have much to share with our investment team when I return.

Lets Get Fiscal

Last FridayPresident Donald Trump tweeted his frustration with the ridiculous standard of the first 100 days, claiming that no matter what he accomplishes during this period, the media will kill it.

Theres some truth here. No U.S. president in modern history has been so vehemently and routinely lambasted by a hostile press corps as Trump has. Harsh jabs have even been thrown by business news sources such as the Wall Street Journal and Bloomberg, which are normally pretty centrist. 

But for those keeping score, Trumps 100th day arrives this Sunday, April 29, and it would be disingenuous to describe his tenure so far as smooth sailing. Hes faced a number of significant setbacks and distractions, including federal judges smackdown of his two travel bans, a failure to repeal and replace Obamacare and an ongoing investigation into his administrations possible collusion with the Russian government in the months leading up to the November election.

Although consumer confidence remains at scorching-hot levels, markets are beginning to express doubt in Trumps ability to streamline corporate tax and regulation reform. From their all-time high in mid-March, blue chip stocks have given back more than 1 percent, while the U.S. dollar has contracted more than 3.4 percent since late December.

Are markets pricing in a longer-than expected delay in tax reform?
click to enlarge

I believe this response is way overdone. BCA geopolitical strategist Marko Papic said as much during his visit to our office last month. Marko insisted that tax reform is still on its way, despite Congress earlier failure to repeal Obamacare. Just last week, House Speaker Paul Ryan said lawmakers were putting the finishing touches on a new health care billone that reportedly might scrap protections for people with preexisting conditionswhile Treasury Secretary Steven Mnuchin reassured Americans they can soon expect to see proposals for the most significant change to the tax code since Reagan.

Trump himself says a massive tax reform package could be unveiled as early this Wednesday.

Treasury Secretary Steven Mnuchin: This will be the most significant change to the tax code since Reagan.

Such change cant come soon enough. Since 1993, the U.S. has had a top statutory corporate tax rate of 35 percent, the highest of any other economy in the Organization for Economic Cooperation and Development (OECD). Trump expressly prefers to lower the rate to 15 percent, but I wouldnt be surprised if it ends up between 20 and 25 percent. Regardless, tax relief would be a major win for small and mid-cap firms especially and encourage large multinational companies to repatriate foreign cash. According to one recent estimate, the top 50 largest American corporations stashed as much as $1.6 trillion overseas in 2015. Its time we give them an incentive to bring some of that cash back home.

Its worth pointing out that Trump is not yet lagging his predecessors in terms of delivering fiscal reform. Going back to the Kennedy administration, the average number of months into a new presidential term for fiscal legislation to be enacted is six months, according to LPL Research. It took nearly a year for the Tax Reform Act of 1969 to reach President Nixons desk. Last week marked Trumps third month in office, so I see no cause for alarm just yet.

As for the American Recovery and Reinvestment Act of 2009, signed by President Obama not 30 days into his first term, it had already been in the works before he took office.

There are other obvious reasons for lowering the corporate tax rate. Just take a look at Singapore and Hong Kong, both of which enjoy a top tax rate of between 16 and 17 percent. Consequently, they stand as glittering marvels of the modern world.

In the World Banks 14th annual Doing Business 2017 report, Singapore ranked second in the world in ease of doing business, Hong Kong fourth. The U.S., meanwhile, came in at number eight. Tax reform could have the potential of moving the country up the scale.

Banks Awaiting Deregulation

Besides tax reform, hearings are expected to take place this week on how best to loosen Wall Street regulations. At the top of the docket is the 2010 Dodd-Frank Act, for which Rep. Jeb Hensarling of Texas has drafted a 600-page replacement called the Financial Choice Act 2.0. If passed, the legislation would relax some of Dodd-Franks more restrictive rules and limit the powers of the Consumer Financial Protection Bureau (CFPB) and Securities and Exchange Commission (SEC). It would also roll back the so-called Volcker Rule, named for former Federal Reserve Chair Paul Volcker, which effectively bans banks from making speculative investments that dont directly benefit their customers.

In Hensarlings words, the Financial Choice Act holds Wall Street and Washington accountable, ends taxpayer-funded bank bailouts and unleashes Americas economic potential.

Also facing a questionable future is the Labor Departments Fiduciary Rule, which regulates how financial advisors service their clients, specifically by eliminating conflicts of interest. Originally scheduled to go into effect April 10, the Trump administration has delayed it until June 9, pending review.

As I wrote back in January, the Fiduciary Rule, though well-intentioned, would inevitably limit the number of investment products available to retail investors. In an effort to remain compliant with the rule, well-meaning financial professionals would recommend only the least expensive products, regardless of whether theyre a good fit. As a result, many mutual fundswhich might be better performing but have higher expenses than other investment vehicleswould fall off of brokerage firms platforms.

In all fairness, theres definitely demand for improved investor service among financial professionals. In a recent survey conducted by advisory firm Financial Engines, 93 percent of respondents said they felt financial advisors should legally be required to put investors interests first. 

Nine out of 10 Investors Favor the Fiduciary Rule
click to enlarge

However, the same survey found that nearly 70 percent of respondents had not heard of the DOLs Fiduciary Rule. This tells me they might not have considered all the ramifications, including the good and the bad, of holding advisors to such strict standards.

A Modest Proposal

To be clear, Im not in favor of scrapping every banking regulation thats been introduced post-financial crisis. I am in favor of reviewing them, as Trump has ordered, and streamlining them to make them work for the financial sector and consumers rather than against them. This week Federal Reserve Governor Jerome Powell made a similar statement, cautioning policymakers against rolling back core reforms that in many ways have strengthened our financial system.

In addition, the International Monetary Fund (IMF), in its Global Financial Stability Report, warned that a wholesale dilution or backtracking of existing regulations in the U.S., coupled with deep tax cuts, could lead to dangerously high financial risk-taking such as we saw pre-2008.

Many nonfinancial firms do have the balance sheet capacity to expand investment, and reductions in corporate tax burdens could have a positive impact on their cash flow, the IMF writes. But reforms could also spur increased financial risk-taking and, in some scenarios, could raise leverage from already-elevated levels.

Indeed, as you can see below, median corporate leverage among the largest U.S. companies is nearing a record high as measured by debt-to EBITDA (earnings before interest, taxes, depreciation and amortization).

Median corporate leverage among big U.S. firms is close to an historic high
click to enlarge

Aux yeux de tous

The world was watching France this past weekend as voters headed to the polls in the first round of the countrys presidential election. It was currently a four-way race, with political novice  and social liberal Emmanuel Macron polling slightly ahead of the far-right candidate Marine Le Pen. Radical socialist candidate Jean-Luc Mlenchon had gained impressive ground, closing in on center-right Franois Fillon, the former prime minister of France.

Likely influencing voters decisions was last weeks attack on Paris iconic Champs-lyses boulevardjust a few blocks from the presidential palacewhich left one police officer dead. ISIS has already claimed responsibility. The incident is eerily reminiscent of a 2012 French thriller film titled Aux yeux de tous, about a terrorist attack in Paris that occurs mere days before a presidential election.

In the end, voters gave centrist Macron a slight edge over Le Pen, prompting global stocks to soar. Nevertheless, the outcome is a sharp rebuke of Frances more traditional parties. Macron and Le Pen will face off in the second round of voting on May 7.


All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content.

The SP 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.

The Doing Business Report (DB) is a study elaborated by the World Bank Group since 2003 every year that is aimed to measure the costs to firms of business regulations in 185 countries.

The Global Financial Stability Report is a semiannual report by the International Monetary Fund (IMF) that assesses the stability of global financial markets and emerging market financing.

The net debt to earnings before interest, depreciation, and amortization (EBITDA) ratio is a measurement of leverage, calculated as a company’s interest-bearing liabilities minus cash or cash equivalents, divided by its EBITDA.

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