Economy

Ukraine’s National Bank receives another $1 billion from the IMF

Ukraine IMF International Monetary Fund

The fourth tranche of the International Monetary Fund credit of $1 billion to Ukraine has entered the reserve of the National Bank of Ukraine, Ukrainian Finance Minister Oleksandr Danyliuk said Wednesday. The IMF approved a four-year program of financial aid to Ukraine in March 2015. Kiev has already received three tranches of aid totalling …

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Japan legalizes cryptocurrency as form of payment

Japan cryptocurrency Bitcoin

New legislation authorizing digital currency as a legal payment method has come into force in Japan. The text of the law was released by Japan’s Financial Services Agency on March, 24. Earlier this week, the Accounting Standards Board of Japan said that it would begin work on the creation of a …

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Audit the Fed bill passed by House panel

Audit the Fed bill Ron Paul

A House panel on Tuesday approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank. The House Committee on oversight and government reform passed the measure by voice vote after roughly 30 minutes of debate. The bill …

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Goldman Sachs buys $5.7 billion in toxic mortgages

Goldman Sachs toxic mortgages delinquent loans

Most banks hear “delinquent loans” and run, but Goldman Sachs is not most banks. The massive investment bank is greedily betting that it can squeeze value out of delinquent mortgages with a multi-billion dollar purchase of auctioned loans that have unpaid loan balances of $5.7 billion. The Wall Street Journal reports that the investment bank …

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Paper silver contracts are being dumped on the market

Paper silver contracts

Recently I spoke with author and economic analyst John Sneisen about the astonishing breaking story that half of the daily global silver production was dumped in a matter of minutes. A massive sell-off of paper contracts! The culprits appear to be unknown but it has resulted in a 4% fall …

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Bitcoin crashes below $1000 after SEC rejects ETF

After much anticipation (and a spike to record highs earlier today), The SEC has decided to reject the Winklevoss application for a Bitcoin ETF. The SEC premise appears to be the unregulated natuire of the underlying: Based on the record before it, the Commission believes that the significant markets for bitcoin …

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Bitcoin is now officially more valuable than gold

Bitcoin gold

The price of bitcoin rallied to all-time highs on Friday, climbing above the price of one ounce of gold for the first time. The cryptocurrency was trading at $1,294, while a troy ounce of gold stood at $1,234. Bitcoin’s rally was attributed to high demand in China despite the country’s central …

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