TODAY'S recommended economics writing:
• The case for helicopter money (Martin Wolf)
• Big banks are told to review their own foreclosures (NYT)
• Fed bank chiefs back money-fund overhaul (WSJ)
• The history of Australian property...
With 2012 now behind us it's time to start looking for some new long-term investments that have big potential gains in the New Year. Copper is one metal that has caught my eye.
The SEC approved the first physical copper-backed exchange-traded fund despite complaints from some U.S. manufacturers and merchants that such a fund would make the metal more scarce.
Snowdown of Barclays Research has also questioned the SEC Research on Copper ETFs released last month which concluded that there is no strong relationship between copper inventories and copper prices.
US manufacturers have attacked plans by to launch an exchange-traded fund backed by physical , arguing that the product would “grossly and artificially inflate prices” and “wreak havoc on the US and global economy”. The FT reports.