Economy

2016: Stock market off to worst start in history

Stock market 2016 crash bear market

From Filip Karinja, for Birch Gold Group What a start to the year it has been! If the first week of 2016 is anything to go by, then the stock market is in for a wild year ahead. Within the first 15 minutes of trade for the year, the Chinese stock market plunged 7%, …

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China’s stock market halted after 7% plunge

Chinese stock market plunge

Trading on the Shanghai and Shenzhen stock markets was halted for the day on Monday (Jan 4th) after shares fell 7%. The drop in the CSI300 index, which covers both bourses, for the first time triggered an automatic early closure under a new system to curb volatility, after an earlier …

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Switzerland to vote on banning banks from creating money

Switzerland money currency Swiss

Switzerland will hold a referendum to decide whether to ban commercial banks from creating money. The Swiss federal government confirmed on Thursday that it would hold the plebiscite, after more than 110,000 people signed a petition calling for the central bank to be given sole power to create money in the …

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China and Japan dump billions of dollars

Dollar being dumped Japan China

Over the past few years the dollar has staged an impressive comeback. Not because there’s anything fundamentally good about this currency’s future prospects, but because for the interim, most of the economies in world aren’t doing so hot. For a lot of investors, it is the lesser of many evils …

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IMF forgives Ukraine’s debt to Russia

IMF Christine Lagarde Ukraine debt

On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day …

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Fed raises interest rates…now what?

Federal Reserve interest rate rise

From Filip Karinja, for Birch Gold Group This week, the Federal Reserve voted to raise interest rates a quarter of a percent to 0.5%, the first rate rise since 2006. But this wasn’t the only bold announcement the Fed made. In a report released the same day, titled “Economic Projections“, they predicted that by 2018 they …

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Fed rate hike is the beginning of the end

Janet Yellen Interest Rates Federal Reserve

From Filip Karinja, for Birch Gold Group With the Federal Reserve set to meet next week to vote on what to do with interest rates, many are speculating that we may see a rate hike. This is something Janet Yellen has hinted at over the past few months but has kept delaying. Should …

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Gold backed ruble and yuan to trigger global de-dollarization

Gold in hand

A gold-backed ruble and gold-backed yuan could start a ‘snowball exit’ from dollar F. William Engdahl notes, adding that it will diminish America’s ability to use the reserve dollar role to finance Washington’s perpetual overseas wars. The irony of the situation is that the central banks of China, Russia, Brazil and other …

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IMF approves Chinese yuan to rival US dollar on the global stage

International Chinese yuan IMF SDR

From Filip Karinja, for Birch Gold Group As we predicted it would happen, the International Monetary Fund (IMF) made a historic decision this week in international finance by adding the Chinese yuan into its basket of currencies that make up the global exchange unit known as the SDR. Created back in 1969, the SDR (Special …

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