Search Results for: currency

Australian Bitcoin bank hacked, $1.3million stolen

bitcoin

An Australian bitcoin bank holding over US$1 million of the crypto-currency has been hacked, leaving an unknown number of users with nothing – one of the largest thefts in the currency’s four-year history. The incident took place on October 26, when the bank was hacked, with 4,100 bitcoins valued at …

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Israel looking to become the first cashless society

Israeli currency

The government on Tuesday authorized establishment of a committee that will examine ways to eliminate cash from the Israeli economy – the better to prevent citizens from cheating on their taxes. The committee will be chaired by Harel Locker, director of the Prime Minister’s Office. Cash is easily passed from …

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America’s debt vizualized

We kicked butt in the Olympics and landed on Mars. It’s been a pretty good month of the United States but with the elections coming up around the corner our economy has become a major battle between Romney and Obama. The fact is our great country owes a lot of …

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Greece back to the Drachma?

Traders around the world have been staring at their Bloomberg screens, hardly believing their eyes. The electronic information platform has been showing details for possible Greek Drachma trading. The Bloomberg helpdesk described it as “an internal function which is set up to test.” The news comes in the wake of the …

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Currency wars: China threatens bond attack on Japan

China

A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees, unless Tokyo reverses its decision to nationalise the disputed Senkaku/Diaoyu islands in the East China Sea. Jin Baisong from the Chinese …

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China can now monetize US debt directly

The Treasury, apparently dissatisfied with the speed of indirect bank and/or Fed-inspired monetization of its exponentially rising debt-load at ever-cheaper costs of funds, decided in June 2011 to allow the Chinese, with their equally large bucket of USDs to bid directly for US Treasuries. As Reuters reports, China can now bypass Wall …

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China warns Soros against ‘declaring war’ on its currency

George Soros China

China’s official newspaper warned billionaire investor George Soros not to bet against the Yuan in a front-page opinion piece, as China tries to boost confidence in its home currency, also known as the renminbi, which has dropped 5 percent since August. “Soros’s war on the renminbi and the Hong Kong …

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The Gold War

Gold

The global financial crisis is better described as a global monetary war to defend the toxic US Dollar, whose sunset can be seen.In the last 12 to 18 months, the monetary war has again morphed, this time into a far more serious and financially violent global Gold War. Nations are …

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Gold, silver and a major October surprise – Celente

gold

Today top trends forecaster Gerald Celente told King World News, “They (central planners) are going to destroy the money, and they are going to do everything to try to keep the gold and silver markets down.”  Celente warned about a major “October surprise.” He cautioned, “Anything could happen at any time. …

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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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The US will be on a gold standard in 12 to 24 months – Schiff

Gold Standard America Peter Schiff

Today Peter Schiff stunned King World News when he said the US will be back on a gold standard “… in a year or two.” Schiff also said, “I would have expected a (financial) collapse to have already happened.”  Schiff went on to warn, “… at this point I’m going to …

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Does China plan a Gold-backed Renminbi?

We expect the Chinese central bank to continue gradually accumulating gold, and we think that it might be planning a gold backing for the renminbi. If that were to happen, international acceptance would soar. Not for nothing was the enormous amount of gold reserves in the United States (N.B. the US …

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Australia doomed: debt ceiling raised $200b, central bank given $8.8b

Federal Treasurer Joe Hockey

The Federal Government has given the Reserve Bank of Australia a $8.8 billion one-off grant to help it manage future economic crises. The money will be added to a fund used to offset the central bank’s exposure to risky financial assets. Federal Treasurer Joe Hockey says Australia’s economy continues to …

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The global central banker directory

If there’s printing going on in your neighborhood Who you gonna call? CENTRAL BANKERS! If a loaf of bread costs a trillion bux Who you gonna call? CENTRAL BANKERS! The Newer New Normal in paper destruction has arrived, and Benny and the Inkjets will soon learn that the one response …

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China is almost ready to replace the US dollar

Chinese Yuan world reserve currency

From Filip Karinja As the US dollar’s reign as global reserve currency appears to be ending, are we seeing the beginning of a new dawn in the east? Throughout history, global reserve currencies have proven to last for only so long. Before the United States’ currency reigned supreme, the currencies of …

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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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World’s first Bitcoin bank opens in Austrian capital Vienna

Bitcoin bank Austria Vienna digital currency

The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options. The digital currency outlet is owned and managed by a local Blockchain startup Bit Trust and is named …

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