Tag Archives: money

Currency wars: Venezuela devalues its currency by 46%

Venezuela Bolivar

While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, “quantitative easing” being the most popular, here comes Venezuela and shows the banana republics of the developed world what lobbing …

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Now the Swiss want their gold back…all 1040 tons of it!!

Swiss gold

With last week’s announcement by the Bundesbank of the repatriation of 674 tons of German gold from Paris and NY over the next 7 years, we predicted that an avalanche of gold repatriation requests would soon be made to the BOE and the NYFed. It appears that Switzerland may be next …

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US banks shaken by biggest deposit withdrawals since 9/11

Bank run

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system hasn’t seen such a massive fund outflow since 9/11 attacks. The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 …

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US mint sold out of 2013 silver eagle coins

Silver Eagle 2013

The United States Mint has informed authorized purchasers that 2013 American Silver Eagle bullion coins are temporarily sold out. This follows intense demand for the silver bullion coins since the initial release on January 7, 2013. On the first day of availability for 2013-dated Silver Eagles, authorized purchasers had placed …

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Bitcoin invades mainstream banking system

bitcoin

Digital Currency Exchange, Bitcoin-Central, has been authorized by the French government to conduct bank style operations. In an announcement last month on bitcointalk.org, Paymium, the organization behind Bitcoin-Central said this: We’re announcing today that Bitcoin-Central.net is getting, through a partnership with Aqoba, allowed to operate like a bank, (or more precisely like …

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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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The future of money?

With Christmas coming, sales of chocolate gold coins have no doubt soared as parents get ready to fill their little ones’ stockings with edible treasure. But wealthy individuals worried about what the New Year could bring are instead stocking up on gold chocolate bars. Swiss refinery Valcambi has been selling …

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Australia will be a casualty of the currency wars

Australian money currency

The world’s most powerful nations are sitting on zero interest rates and printing money to get their currencies down, and there’s very little Australia can do about it, writes Alan Kohler. The currency war will be on in earnest in 2013 as the United States, Europe, Japan and China all …

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