Search Results for: debt

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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China calls for new global currency to replace US dollar

Gold Chinese Dragon

China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis. The surprise proposal by Beijing’s central bank governor reflects unease about its vast holdings of U.S. government bonds and …

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Report: $21 trillion hidden from taxman in offshore accounts

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network. James Henry, former chief economist at …

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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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Bayer acquires GMO giant Monsanto for $66 billion

bayer-acquires-monsanto

German pharmaceuticals giant Bayer has completed its takeover of American GMO company Monsanto. Shareholders have reportedly accepted $128 a share, making the deal worth $66 billion, including debt. The deal is the largest corporate takeover in almost two decades for a German company. The latest bid offered by Bayer is …

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Billionaire George Soros dumps US stocks, buys gold

George Soros stocks gold

Billionaire George Soros has cut investment in US stocks by one-third and acquired a $264 million stake in the world’s biggest bullion producer, Barrick Gold, Bloomberg reports, quoting the investor’s fund data. Overall, in the first quarter of 2016 the value of publicly disclosed holdings of Soros Fund Management fell by 37 …

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95% of Greek ‘bailout’ money went to European Banks

Greek bailout European banks

I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything. What is happening to Greece follows the exact same …

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Goldman Sachs fined $5.1 billion over mortgage-backed securities fraud

Goldman Sachs fined 5.1 billion

Goldman Sachs said it agreed to a $5.1 billion civil settlement to resolve federal and state probes into its handling of mortgage-backed securities before the 2008 financial crisis. The proposed deal, which the Wall Street giant announced in a Thursday statement, would settle “actual and potential civil claims” by the US Justice Department and …

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IMF warns global economy is slowing

Christine Lagarde IMF

IMF chief Christine Lagarde has warned that the global economy could be sinking into a prolonged period of “mediocre” growth which could endanger efforts to bring down unemployment worldwide. Lagarde said on Thursday that the world’s economy has weakened in the past six months, despite the efforts of leading central …

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Argentina and China sign $1b currency swap deal

currency swap China Argentina

Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy’s foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina’s …

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Ecuador to replace the US dollar with its own digital currency

Ecuador Central Bank

Ecuador is planning to create the world’s first digital currency issued by the country’s central bank, in what is seen by many as a step to abandon the US dollar, the currency now used by the Central American country. The currency is expected to start circulating in December, according to …

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Bank run fears in Bulgaria

Dozens of depositors have withdrawn savings from Bulgaria’s third biggest bank despite assurances from the government and the European Union that their money was safe after a similar run shut down another major lender last week. Bulgarian authorities have arrested four people suspected of trying to destabilise the banking system in a concerted …

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Germany to repatriate gold from US and France

Gold bars 9999

Germany’s Bundesbank plans to store half the national gold reserves in its own vaults by 2020. It will mean the return of 700 tons of the precious metal from the US and France This year the Bundesbank got back about 37 tons of gold from the US and France. The …

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“We are in a financial holocaust” – Max Keiser says in Parliament

Max Keiser George Galloway

The economic crisis has led to a “financial holocaust” which will lead to millions of deaths, said Max Keiser, the outspoken activist and financial presenter for the Russia Today television channel. On invitation from Respect MP George Galloway to deliver an address on “the coming currency collapse” on Tuesday night in Parliament’s …

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ASX favours charging for high-frequency trading

ASX Elmer Funke Kupper

The head of the Australian Securities Exchange (ASX) says charging for certain high-frequency trades is the best way to manage problematic behaviour. ASX Ltd CEO Elmer Funke Kupper estimates that about 15 to 25 per cent of trading on the Australian market is done through high-frequency transactions. “When it comes …

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United States puts its crosshairs on Russia

Russia Putin in meeting

Washington’s attack on Russia has moved beyond the boundary of the absurd into the realm of insanity. The New Chief of the US Broadcasting Board of Governors, Andrew Lack, has declared the Russian news service, RT, which broadcasts in multiple languages, to be a terrorist organisation equivalent to Boko Haram …

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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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The $1.25 trillion US national security state budget, taxpayers money wasted

US national security state budget taxpayers money wasted

In its latest budget request, the Trump administration is asking for a near-record $750 billion for the Pentagon and related defense activities, an astonishing figure by any measure. If passed by Congress, it will, in fact, be one of the largest military budgets in American history, topping peak levels reached during the Korean and …

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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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Cui Bono: who benefits from the Federal Reserve?

Does the Federal Reserve benefit the nation, or just the banks? Cui bono–to whose benefit?–is a skeptic’s scalpel that cuts through the fat of propaganda and political expediency to the hard truth. Since the world has been trained (in Pavlovian fashion) to hang on every word issued by America’s privately owned …

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