Economy

Switzerland chooses gold over paper wealth backed by US dollar

Switzerland gold paper wealth backed US dollar

Another country is betting on physical gold. Switzerland’s pension fund has boosted its investments in bullion, switching from the paper-backed securities in US dollars. “The Swiss government Pension System decided to change from paper gold in the amount of 700 million CHF into physical gold and store it in Switzerland. …

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Top pitfalls to avoid in the mortgage process

With the escalating prices of homes in the US, mortgage loans have become a popular financing option for those who dream of owning a home. Considering that buying a home is perhaps the biggest purchase you’ll ever make, it’s no surprise that there are multiple ways you can find yourself …

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Bitcoin is now bigger than Bayer, Goldman Sachs & Nike

Bitcoin market cap Goldman Sachs

The value of the world’s largest cryptocurrency bitcoin has broken the $5,800 mark, hitting another all-time high before retreating to the $5,600-$5,700 level, still close to the maximum. Its market capitalization is approaching $97 billion. If bitcoin were a company, its market cap puts it in the same league as …

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How Puerto Rico can rebuild and become a powerhouse economy

How Puerto Rico can rebuild economy

After a particularly devastating hurricane season, Puerto Rico has an uncertain future. Already mismanaged and saddled with debt, the island territory now faces the virtually insurmountable task of rebuilding its infrastructure and economy. But amidst the rubble and heartache lies one of the greatest opportunities in the modern era not …

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China claims gold reserves at end of 2016 a massive 12,100 tonnes

Chinese gold reserves 2016

China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association. China has been the world’s biggest gold producer for 10 years and the largest consumer of the metal for four years, it …

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Venezuela ditches the US dollar and prices its oil in Chinese yuan

Venezuela US dollar oil price Chinese yuan

President of Venezuela, Nicolas Maduro, has made good on his promise to forsake the US dollar and publish their oil prices in yuan, which is the currency of China. This highly controversial move is likened to Venezuela giving the US “the middle finger”. Former Venezuelan leader, Hugo Chavez has threatened …

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Credit Card Tips You Might Have Overlooked

When it comes to credit cards, most everyone knows the basics. Keep your balance well within your limits, use your card in conjunction with your budget, plan for the big stuff—they’re all common sense credit card rules that come as second nature to most anyone with a credit history. There …

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