Economy

Congressional report blames Corzine for MF Global’s collapse

Former MF Global CEO Jon Corzine Testifies To House Hearing On Company's Bankruptcy

Congressional investigators took aim on Wednesday at a former colleague, Jon S. Corzine, blaming the onetime senator’s risk-taking at MF Global for accelerating the brokerage firm’s demise. In excerpts from a broader MF Global report to be released on Thursday, Republican members of a Congressional panel outlined a withering critique of Mr. Corzine’s …

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Silver price to ‘increase 400% in three years’

silver bar

The silver bull run will continue says investment specialist Ian Williams of Charteris Treasury. Silver will increase in value five times over the next three years, according to mixed asset fund manager Ian Williams. “Silver is about to enter a sustained bull market that will take the price from the …

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Google, Starbucks, Amazon grilled over tax avoidance

Top US corporations faced tough questioning by British MPs who accused Google, Starbucks and Amazon of leaking tax revenues from the UK to tax havens abroad, labeling their actions as “immoral.” On Monday, lawmakers questioned the three business goliaths’ key executives on how exactly they managed to pay so little …

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Scamming the bankers – payback time

This clip is from the TV Show “The revolution will be televised. If you’ve ever been ripped off by a bank you’ll like this. Enjoy! [youtube height=”400″ width=”550”]http://www.youtube.com/watch?v=arKmquuJJY4[/youtube]  

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Youth unemployment in Greece hits 58%

Greece EU

Greek unemployment rose to 25.4pc in August. Youth unemployment rose to 58pc. Under the official forecast, the economy will contract by a further 4.5pc next year, so it fair to assume that lots more people are going to lose their jobs. It is certainly not going to improve in any …

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RBS and UBS traders to face arrests over Libor scandal within a month

RBS

RBS and UBS traders accused of manipulating the Libor face arrests within a month, Bloomberg’s Lindsay Fortado reports. In case you’ve forgotten, the Libor is the London Interbank Offering Rate, a benchmark rate for financial products worth $360 trillion world wide. This summer, traders were found allegedly colluding with Libor submitters to manipulate …

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Reserve Bank of Australia is printing money for foreign banks

Australian money

Global banking giant UBS says the Reserve Bank may be printing money to keep the Australian dollar under control. UBS analysts Gareth Berry and Andrew Lilley say the evidence that the RBA may have been printing Australian dollars is compelling, but not yet conclusive. The main evidence the analysts cite …

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BitCoin seen through the eyes of a central banker

To us, the ECB’s superficial, amusing take on BitCoin was merely a source of (Friday) humor. To others, such as Tuur Demeester, the ECB’s report on “Virtual Currency Schemes” which was merely a confused attempt to validate the Euro by bashing a prototype electronic currency that others have written far more informed articles …

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Are central banks overstating their gold holdings?

Empty Gold Vault

Romania has demanded for many years that Russia return its gold. Last year, Venezuela demanded the return of 90 tons of gold from the Bank of England. As everyone knows, the German high court ruled that Germany must audit its gold reserves held in foreign countries such as the U.S., England and France. And …

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Australians speak out against high-frequency trading on the ASX

High-frequency trading

The rise in algorithmic and high frequency trading (HFT) on the Australian Securities Exchange (ASX) and global stock exchanges has raised considerable alarm among investors, analysts and other market participants. In an effort to ascertain perceptions in the market relating to algorithmic trading and HFT and the impact both have …

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