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Keyword: currency

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  • The Coming Monetary Collapse

    08/24/2020 7:53:59 AM PDT · by Roman_War_Criminal · 28 replies
    RR ^ | 8/23/2020 | Britt Gillette
    Since the arrival of COVID-19 and the subsequent decision to lockdown entire cities and nations, world economic activity has significantly decreased. When normal recessions strike, they typically involve only one nation or a single region. But the COVID Recession has hit the whole world at once. This is the first time every nation has simultaneously seen a decline in output since the Great Depression. Despite the scale of this economic disaster, many economists are calling for a quick V-shaped recovery once the coronavirus is brought under control. But is this likely? No. Even if the virus disappears tomorrow, we won’t...
  • US threatens to cut off Chinese banks' access to dollars

    07/16/2020 9:31:41 PM PDT · by BeauBo · 26 replies
    Nikkei Asian Review ^ | July 16, 2020 | TAKESHI KAWANAMI, (Nikkei staff writer)
    Chinese banks seen as complicit in Beijing's clampdown on Hong Kong face being cut off from much of the global financial system under wide-ranging sanctions that are a part of newly enacted U.S. legislation. The Hong Kong Autonomy Act, signed Tuesday by U.S. President Donald Trump, sets out punitive measures against lenders that do business with sanctioned officials, including bans on receiving loans from American banks, participating in foreign-currency and banking transactions, and investing in equity or debt. The government may also freeze the assets of designated institutions or restrict exports to them... China's economy "for the foreseeable future will...
  • THE BANK WAR: Jackson v. Biddle (The History of Wealth & "Money," from Ancient Coins to the Perils of Paper "Money" in America)

    07/10/2020 7:31:49 AM PDT · by Perseverando · 3 replies
    American Minute ^ | July 9, 2020 | Bill Federer
    Money supply has a mixed history. Originally, wealth was measured in precious metals of gold, silver, or copper. Exodus 25:3 "And this is the offering which ye shall take of them; gold, and silver, and copper." Items of gold, silver, or copper had to be weighed. A "shekel" was a fixed unit of weight. Shekels were placed on one side of a scale and on the other side were placed the items of gold, silver, or copper to be weighed. The Bible admonished not cheat, Deuteronomy 25:13 "Do not have two differing weights in your bag -- one heavy, one...
  • Syria devalues currency (44%) amid chaos ahead of new US sanctions

    06/18/2020 5:35:02 PM PDT · by BeauBo · 14 replies
    ABC News ^ | June 17, 2020 | ALBERT AJI Associated Press
    Syria devalued its currency by 44% on Wednesday, announcing a new official exchange rate for the pound amid chaos in the market, hours before new U.S. sanctions aimed at cutting off revenue for Syrian President Bashar Assad’s government took effect. The sanctions, known as the U.S. Caesar Syria Civilian Protection Act, are the toughest set of measures to be imposed on Syria yet, preventing anyone around the world from doing business with Syrian officials or state institutions or from participating in the country’s reconstruction... Syria’s already troubled economy has sharply deteriorated, prices have soared and the national currency, the Syrian...
  • It’s time to get rid of your $20 bills…; Almost Every Picture Depicted In American Money is Related To Slavery

    06/17/2020 2:31:03 PM PDT · by SeekAndFind · 49 replies
    The Sovereign Man ^ | 06/17/2020 | Simon Black
    On May 12, 1703, the Russian army under Peter the Great captured an important Swedish fort on the Baltic Sea called Nyenskans.It was a major victory for Peter in his war against the Swedish Empire. Russia was a rising power in the early 1700s, but Peter was in critical need of a Baltic seaport to be able to trade with the rest of Europe.The capture of Nyenskans was so important that Peter decided to move his capital there. And he renamed it Saint Petersburg.Technically he called it “Sankt-Pieter-Burch,” which is a Dutch/German spelling of the name; Peter made tremendous efforts...
  • CHINESE Yuan Registers Lowest Value in History: Dropping a record 16 days straight, the longest run since the currency basket was created 5 years ago

    06/12/2020 2:57:44 PM PDT · by SeekAndFind · 37 replies
    Epoch Times ^ | 06/12/2020
    Compared to a basket of other currencies, the Chinese Yuan is falling fast. It has been dropping for a record 16 days straight, the longest run since the currency basket was created 5 years ago. It has now fallen 4 percent against the Euro and Australian dollar. The yuan has also been falling against the dollar but has stopped recently. In late May, rising tensions with the U.S. contributed to the yuan falling to near its lowest level since 2008’s financial crisis and factors such as the Hong Kong protests and the US-China trade deal could increase the value of...
  • Is America headed for a post-apocalyptic currency collapse?

    06/05/2020 10:46:10 AM PDT · by Roman_War_Criminal · 37 replies
    fxstreet ^ | 6/3/2020 | Stefan Gleason
    Just when it seemed as though America may be turning the corner after months of lockdown… just when it seemed as though we were on a path to reopening and gradually returning to normalcy… just when the prospects of panic-induced social unrest seemed to be behind us… …America’s cities erupted into flames. Antifa and BLM-organized rioting, looting, violence, and mayhem have pushed cities across the country into pandemonium. Even if the insurrections are soon quelled – as President Donald Trump promised to do in a speech in front of the White House on Monday – the consequences won’t soon go...
  • Dubai Police Arrest Man for Sneezing on UAE Dirham Notes (Currency)

    05/17/2020 6:01:35 PM PDT · by nickcarraway · 5 replies
    Khaleej Times ^ | May 18, 2020
    He insulted the currency and shared the video on social media. The Dubai Police have arrested a young man over a video that he posted on social media in which he can be seen insulting the UAE's national currency. In the viral video, the suspect can be seen pretend-sneezing and using a currency note to clean himself. He has been referred to the authority concerned for further action, the police said. The police said that the cybercrime law specifies a maximum fine of Dh1 million and a prison term for insulting the country or its symbols. The police also posted...
  • McDonald’s and Starbucks are reportedly part of China’s digital currency trial

    04/26/2020 1:00:50 PM PDT · by RomanSoldier19 · 14 replies ^ | APR 24 2020 | Arjun Kharpal;Evelyn Cheng
    China has rolled out a digital currency trial in Xiong’an, an area southwest of Beijing in the Hebei province, according to state-backed media reports. McDonald’s, Starbucks and Subway are the only three American firms among 19 companies participating in the trial. The People’s Bank of China (PBOC) has been working on a digital yuan for the past few years but has made clear that it has not yet officially launched. McDonald’s and Starbucks are among a handful of companies taking part in a new pilot program for China’s upcoming digital yuan, according to state-backed media, as the world’s second-largest economy...
  • 1st America the Beautiful quarters of 2020 features a fruit bat mother and her pup

    04/23/2020 8:19:18 PM PDT · by Beowulf9 · 24 replies ^ | January 9, 2020 | Unk
    Keep an eye out for a shiny new quarter with a raised image of fruit bats and be careful not to let the coin fly out of your wallet or pocket. As part of the U.S. Mint's America the Beautiful Quarters Program, the new National Parks quarter dollar celebrates American Samoa and on the relief features a mother fruit bat and her pup hanging upside down.
  • China disinfects BANK NOTES and quarantines them for 14 days as Beijing announces 143 new coronavirus deaths and 2,641 additional cases

    02/15/2020 9:11:29 AM PST · by MeneMeneTekelUpharsin · 83 replies
    The Daily Mail ^ | 15 February 2020 | Isabella Nikolic
    Chinese banks use ultraviolet light then seal and store the cash for up to 14 days The banks have been urged to provide new banknotes to customers if possible Central bank made an emergency issuance of four billion yuan in new notes China has today started disinfecting and isolating used banknotes in an effort to stop the spread of the coronavirus (Covid-19) that has killed 1,527 people. Banks use ultraviolet light or high temperatures to disinfect yuan bills, then they seal and store the cash for seven to 14 days - depending on the severity of the outbreak in a...
  • The Debt is a Wobbling House of Cards

    02/15/2020 5:14:19 AM PST · by Kaslin · 48 replies ^ | February 15, 2020 | Dan Celia
    America’s long-term national debt problem could lead to economic Armageddon. The misguided belief that we are actually paying down our debt is giving this administration a false sense of security. We can have all the growth we can muster in our GDP but if we are spending more than what’s coming in, the debt will only keep building. The days of growing our way out of debt were lost $5 trillion ago. This week the CBO announced that for the first four months of the government’s fiscal year ending in January we had created a deficit of $1.2 trillion. As a...
  • [China] Bo Xilai Alleged Financier: George Soros (???)

    04/27/2012 6:38:41 AM PDT · by TigerLikesRooster · 5 replies
    i4u ^ | 04/25/12
    Bo Xilai Alleged Financier: George Soros BEIJING: Billionaire oil tycoon George Soros, an executive board member of the International Crisis Group, has played a major role in deposed Chinese Communist Chongqing Boss, Bo Xilai’s rise to fame and fortune in Dalian and Chongqing. ...
  • South Carolina Bill Would Make Gold and Silver Legal Tender

    12/01/2019 3:22:12 AM PST · by Openurmind · 35 replies
    The New American ^ | Nov 30, 2019 | Joe Wolverton, II, J.D.
    A bill filed in advance of the next legislative session would make gold and silver legal tender again in the state of South Carolina. State Representative Stewart O. Jones submitted legislation that would restore gold and silver to their status as legal tender in his state. In an op-ed written in October, Representative Jones set out the sound economic principles that support his proposed statute: To understand the full extent of the debt and the destruction of the dollar, it’s essential to realize that paper money has a history of being printed as bills of credit to finance runaway government....
  • South Carolina Legal Tender Act Would Treat Gold and Silver as Money

    11/26/2019 6:40:43 PM PST · by Perseverando · 26 replies
    Tenth Amendment Center ^ | November 22, 2019 | Mike Maharrey
    COLUMBIA, S.C. (Nov. 22, 2019) – A bill prefiled in the South Carolina House would make gold and silver coins legal tender in the state. Passage of this bill would take a step toward creating currency competition in South Carolina and undermine the Federal Reserve’s monopoly on money. Rep. Stewart Jones filed House Bill 4678 (H.4678) on Nov. 20. Under the proposed law, “gold and silver coins minted foreign or domestic shall be legal tender in the State of South Carolina under the laws of this State. No person or other entity may compel another person or other entity to...
  • Set Money Free

    11/06/2019 2:46:49 AM PST · by Kaslin · 8 replies ^ | November 6, 2019 | John Stossel
    House members summoned Facebook’s Mark Zuckerberg to Washington, D.C., and grilled him -- harshly -- about his plan to create a new currency, Libra. “Why should we trust you?!” asked Congressman Mike Doyle. I liked it when Zuckerberg said, “I actually don’t know if Libra’s going to work, but I believe that it’s important to try new things.” He was right. That’s very important. The Libra would make it easier to transfer money anywhere in the world. It also promises stability. Its value would be based on a basket of currencies from different countries, which would protect Libra owners from...
  • Canada's currency, energy shares fall as new government relies on left-leaning parties

    10/22/2019 10:36:51 AM PDT · by SeekAndFind · 12 replies
    Reuters ^ | 10/22/2019 | Fergal Smith
    TORONTO (Reuters) - The Canadian dollar weakened against the greenback on Tuesday and its heavily weighted energy sector fell on the Toronto stock market, as investors worried that a minority government would make building of new oil pipelines more difficult. Canada’s energy industry saw its worst-case election result materialize on Monday as the Liberals failed to secure a majority government, leaving them in need of support from left-leaning parties that are opposed to new oil pipelines. Canada’s energy sector declined 0.5% even as oil prices rose, with shares of Canadian Natural Resources Ltd falling 0.8 and pipeline company Encana Corp...
  • China’s Banks Are Running Out of Dollars

    10/07/2019 5:21:37 AM PDT · by BeauBo · 43 replies
    WSJ ^ | April 23, 2019 | Mike Bird
    China’s major commercial banks have a funding issue outside Beijing’s control: They’re running low on the U.S. dollars they need for activities both at home and abroad. The combined dollar liabilities at the big four commercial banks exceeded their dollar assets at the end of 2018, their annual results show—a sharp reversal from just a few years ago. Back in 2013, the four together had around $125 billion more dollar assets than liabilities, but now they owe more dollars to creditors and customers than are owed to them. Bank of China is by far the greatest contributor to the shift....
  • Visa, Mastercard, Others Reconsider Involvement in Facebook's Libra Network

    10/02/2019 6:55:29 AM PDT · by C19fan · 10 replies
    Wall Street Journal ^ | October 2, 2019 | AnnaMaria Andriotis and Peter Rudegeair
    Cracks are forming in the coalition Facebook Inc. assembled to build a global cryptocurrency-based payments network. Visa Inc., Mastercard Inc. and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from U.S. and European government officials, according to people familiar with the matter. Wary of attracting regulatory scrutiny, executives of some of Libra’s backers have declined Facebook’s requests to publicly support the project, the people said. Their reluctance has Facebook scrambling to keep Libra on track. Policy executives from Libra’s more than two dozen backers—a group called...
  • The Coming Currency War: Digital Money vs. the Dollar

    09/24/2019 10:17:56 AM PDT · by Enlightened1 · 19 replies
    WSJ ^ | 09/22/19 | Dave Michaels and Paul Vigna
    The future of money might be a digital version of the cash that’s already in people’s wallets—potentially upending the currency system that the world has known for many decades. Such a future, of course, might be a disappointment to many libertarians and tech-savvy investors who are pinning their hopes (and in some cases their money) on private cryptocurrencies such as bitcoin. Instead, central bankers and governments—the entities that cryptocurrencies’ backers hoped to render obsolete—are increasingly warming to the idea of “digitizing” their own national currencies. That is, they would issue money that would exist only virtually, without a paper or...