Economy

BRICS bank to begin borrowing in yuan

BRICS summit Russia 2015

The BRICS New Development Bank (NDB) could start operations by borrowing in the Chinese currency, according to the bank’s Vice President Vladimir Kazbekov. He says the bank will focus on loans in the national currencies of the bank’s potential customers. “Considering the stability of the Chinese currency and the scale …

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US Mint American Eagle gold coin sales surge, silver at record

US mint american eagle gold silver coin

The U.S. Mint’s sales of American Eagle coins surged in November, with gold nearly tripling month-over-month and silver already reaching a new annual record as bullion prices fell to multi-year lows, data released on Monday showed. The mint sold 97,000 ounces of American Eagle gold coins in November, up 185 …

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IMF set to include Chinese yuan into SDR currency basket

IMF meeting IMFC International Monetary Fund

From Filip Karinja, for Birch Gold Group The International Monetary Fund (IMF) is set to meet in just over a week – on November 30 – to discuss what will almost certainly see the Chinese yuan added to the Special Drawing Rights (SDR) currency basket. IMF Chief Christine Lagarde has already …

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Stock prices of weapons manufacturers soaring since Paris attack

The Paris attacks took place on Friday night. Since then, France’s president has vowed “war” on ISIS and today significantly escalated the country’s bombing campaign in Syria (France has been bombing ISIS in Iraq since last January, and began bombing the group in Syria in September). Already this morning, as Aaron Cantú noticed, the stocks of the leading weapons manufacturers — …

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JP Morgan’s databases hacked, financial system vulnerable

Hack secret data

From Filip Karinja, for Birch Gold Group Three people have been charged this week in connection to “the largest theft of customer data from a U.S. financial institution in history.” Those are the words of Preet Bharara, the U.S. Attorney involved in the case involving a major cyber hack on JP Morgan in …

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The War on Cash advances

War on cash

The War on Cash is advancing on all fronts. One region that has hogged the headlines with its war against physical currency is Scandinavia. Sweden became the first country to enlist its own citizens as largely willing guinea pigs in a dystopian economic experiment: negative interest rates in a cashless …

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China to allow direct conversion between Yuan and Swiss Franc

Chinese clerk with yuan notes

China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund. The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making …

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US debt sees record $339 billion increase in a single day

Obama signing debt

From Filip Karinja, for Birch Gold Group On Monday, the U.S. national debt jumped a record $339 billion in a single day following President Obama signing into law new legislation that sees the debt ceiling suspended. Imagine that, our monetary problems “solved” with the single stroke of a pen. The Treasury Department can …

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Deutsche Bank fined $258m for conducting business with Iran, Syria and Libya

Deutsche Bank

German Deutsche Bank has been fined $258 million by American regulators for conducting business with US-sanctioned countries including Iran, Syria and Libya. The fine will be paid to the Federal Reserve and New York State Department of Financial Services. The ruling against Deutsche Bank also stipulated that the people responsible …

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Industrial hemp now legal in North Carolina

Industrial hemp

Numerous industries would benefit from the industrialization of hemp as they once did in America. But thanks to the federal government, this widely-diverse crop has been highly underutilized, even despite the fact that it is entirely different than psychoactive marijuana. Now, in a huge game-changing move for the US, North Carolina has …

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