Keyword: currency

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  • Failed: GOP proposal that would have kept Harriet Tubman off $20 bill

    06/24/2016 4:47:54 AM PDT · by HomerBohn · 78 replies
    MSN ^ | 6/23/2016 | William Petrosky
    WASHINGTON ó U.S. Rep. Steve King introduced an amendment in Congress that would have prevented Harriet Tubman, an abolitionist and supporter of women's suffrage, from replacing President Andrew Jackson on the $20 bill. However, the House Rules Committee agreed Tuesday night to deny floor consideration of proposal, which would have prevented the Treasury Department from spending money to redesign paper currency or coins. The Iowan Republican's amendment, which was first reported by the Huffington Post, would scrap the federal government's plans to replace Jackson on the $20 bill with a picture of Tubman, a black woman who was born...
  • Malawi's new president sells off presidential jet and 60 Mercedes

    06/02/2012 5:47:37 PM PDT · by bruinbirdman · 17 replies
    The Telegraph ^ | 6/1/2012 | Aislinn Laing, Johannesburg and Damien McElroy
    Joyce Banda, Malawi's new president, has announced the presidential jet and fleet of 60 Mercedes limousines would be sold in a move applauded by a British cabinet minister as an example to other African leaders. Mrs Banda said she was happy to "offload" the presidential perks, adding: "I can well use private airlines. I am already used to hitchhiking." It means that the 62-year-old head of state Ė the second woman to hold the position in Africa Ė will fly to the Queen's Jubilee celebrations in London this weekend with British Airways. Andrew Mitchell, the UK International Development Secretary who...
  • Bank of England warns that shoppers could overpay because polymer notes are more adhesive [tr]

    05/30/2016 4:39:59 AM PDT · by C19fan · 10 replies
    UK Daily Mail ^ | May 30, 2016 | Hugo Gye
    Plastic banknotes set to be unveiled this week stick together when new meaning that shoppers could find themselves accidentally handing over more than one note at once, it has emerged. England's first polymer banknote, a new £5 featuring the image of Winston Churchill, will be formally revealed by the Bank of England on Thursday. But the Bank itself has warned that the notes might stick together when they are new, raising the prospect of users handing over more money than they intend.
  • Senators Demand Obama Fire Top Aide for Iran Deal Deception

    05/16/2016 6:16:28 PM PDT · by MarvinStinson · 25 replies
    freebeacon ^ | May 16, 2016 | Adam Kredo
    Leading members of Congress are calling on President Barack Obama to fire one of his top advisers amid a deepening scandal over accusations the White House intentionally misled lawmakers and the American public about the contents of last summerís comprehensive nuclear agreement with Iran, according to a letter sent Monday to Obama and obtained by the Washington Free Beacon. The lawmakers are pressing Obama to fire deputy national security adviser Ben Rhodes following revelations he and other officials ďspearheaded the charge to mislead elected lawmakers and the American people about the Iran nuclear deal and the negotiations that led to...
  • Trump: U.S. can never default because it prints money

    05/09/2016 6:09:29 AM PDT · by GIdget2004 · 183 replies
    Politico ^ | 05/09/2016 | Nick Gass
    Donald Trump assailed the media on Monday for what he said was a misrepresentation of his comments on debt, rejecting the notion that he would have the United States default on his debt. "I said if we can buy back government debt as a discount. In other words, if interest rates go up and we can buy bonds back as a discount, if we are liquid enough as a country we should do that. In other words, we can buy back debt as a discount," the presumptive Republican nominee said in a telephone interview on CNN's "New Day." Those who...
  • The Debasing of Our Civic Currency

    05/06/2016 2:05:51 PM PDT · by Kaslin · 10 replies
    The American Spectator ^ | May 6, 2016 | Gilbert T. Sewall
    Putting Harriet Tubman on the $20 concludes a long, concerted drive to reimage U.S. currency. More to the point, it illustrates a profound, probably permanent shift in American historiography. Tubman joins the historical pantheon of George Washington, Abraham Lincoln, Alexander Hamilton, and Ben Franklin. Going forward Lucretia Mott, Sojourner Truth, Elizabeth Cady Stanton, Alice Paul, and Susan B. Anthony will decorate the back of the $10. The New York Times calls the changes the ďmost sweeping and historically symbolic makeover of American currency in a century.Ē OK, no problem, we say, and maybe a good thing. Tubman on the $20...
  • 500 euro bill is being killed off

    05/04/2016 11:25:53 AM PDT · by PAR35 · 30 replies
    CNN ^ | May 4, 2016 | Alanna Petroff
    The European Central Bank announced Wednesday that it will phase out the 500 euro banknote because of concerns that this banknote "could facilitate illicit activities" ... Europe's top law enforcement officials maintain that the 500 euro banknote (worth about $576) makes it easy for criminals to launder money since it's so easy to move around undetected. In a report last year, Europol said cash was still the "instrument of choice" for terrorists and 500 euro notes were in high demand, though they're not popular for everyday transactions. ...
  • Lunchroom Lunacy: ISD cops investigate $2 bill spent on school lunch

    05/03/2016 7:46:08 PM PDT · by ConservativeStatement · 75 replies
    ABC-13 ^ | Ted Oberg and Trent Seibert
    HOUSTON (KTRK) -- When you think of felony forgery your thoughts might turn to Al Capone or Bonnie and Clyde shooting it out with the Texas Rangers. Not for some local school cops. For one day, public enemy number one when it came to forgery was 13-year-old eighth grader Danesiah Neal at Fort Bend Independent School District's Christa McAuliffe Middle School. Now 14, Daneisha was hoping to eat that day's lunch of chicken tenders with her classmates using a $2 bill given to her by her grandmother when she was stopped by the long arm of the law. "I went...
  • U.S. Currency Goes PC Ė Harriet Tubman Displaces Old Hickory

    04/27/2016 5:56:25 PM PDT · by massmike · 48 replies
    grasstopsusa.com ^ | 04/27/2016 | Don Feder
    The Democratic Party is poised to change the name of its annual fundraisers from The Jefferson and Jackson Day Dinners to the Harriet Tubman and the Artist Formerly Known as Prince Day Dinners, where crow will be served to atone for the sins of slavery and misogyny and celebrate the triumph of racial- and gender-identity politics over reality. Not really. But the $20 bill is about to get a pc makeover, with Harriet Tubman, an obscure figure in U.S. history (an escaped slave who aided the Underground Railroad), replacing the 7th president of the United States, a man who gave...
  • The Unexpected Individuals Featured on American Currency

    04/26/2016 2:30:32 PM PDT · by NYer · 6 replies
    Atlas Obscura ^ | April 24, 2016 | Jessie Guy-Ryan
    Before presidents were the standard, a variety of American figures could be found on our banknotes. Twenty dollar bills, soon to be updated. (Photo: selbstfotografiert/CC BY-SA-3.0)This week, the U.S. Treasury announced a number of changes to the banknotesí designs, most prominently changing the face featured on the $20 bill from Andrew Jackson to Harriet Tubman. The makeoveróthe first change to the portraits featured on banknotes since 1928óincorporates numerous women and African-Americans from US history, such as Eleanor Roosevelt and Martin Luther King, Jr. While the currency overhaul seems novel to us, banknote portraiture has changed frequently enough that 53 individuals...
  • Van Susteren: Obama ďneedlessly dividing the countryĒ by putting Tubman on the $20 bill

    04/21/2016 1:05:13 PM PDT · by Kaslin · 74 replies
    Hot Air.com ^ | April 21, 2016 | ED MORRISEY
    It’s not often that one can take issue with the argument that Barack Obama is needlessly dividing the country, but this might be the exception. The US Treasury has decided to honor Harriet Tubman, the woman who helped innumerable slaves escape to freedom, by putting her face on the $20 bill, replacing President Andrew Jackson. Right now, more people are concerned about finding their next $20 bill than are emotionally invested on whose face will be peering back at them when they get it. Greta van Susteren, however, argues that Obama and Treasury Secretary Jack Lew are dividing the country...
  • CHINA SAYS "NO DOLLARS" FOR NEW YUAN

    04/16/2016 6:08:49 PM PDT · by combat_boots · 75 replies
    SuperStation 95 ^ | 4 13 2016 | US Reporter
    In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19. When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts...
  • Trump: Putting Tubman on $20 bill "pure political correctness"

    04/21/2016 7:31:49 AM PDT · by Biggirl · 88 replies
    The Hill ^ | April 21, 2016 | Jesse Byrnes
    Republican presidential front-runner Donald Trump on Thursday came out against removing former President Andrew Jackson from the front of the $20 bill, saying "pure political correctness" is behind the move. "Andrew Jackson had a great history and I think it's very rough when you take somebody off the bill," Trump said during a town hall interview on NBC's "Today" show.
  • Can I Get Two Hamiltons for a Tubman?

    04/21/2016 9:03:38 AM PDT · by HomerBohn · 36 replies
    National Review Email | 4/21/2016 | Jim Geraghty
    Biographer Kate Clifford Larson has noted Tubman was comfortable with guns: Harriet Tubman carried a small pistol with her on her rescue missions, mostly for protection from slave catchers, but also to encourage weak-hearted runaways from turning back and risking the safety of the rest of the group. Tubman carried a sharp-shooters rifle during the Civil War. Harriet Tubmanís pistol and saber are on display at the Florida A & M University (FAMU) Black Archives in Tallahassee, Florida. With an image like that, people would work harder just so they could have more Harriet Tubmans in their pockets. We...
  • Which White Guy Should Obama Replace When We Honor Him on Our Currency?

    04/21/2016 6:13:49 AM PDT · by C19fan · 55 replies
    Slate ^ | April 20, 2016 | Ben Mathis-Lilley
    In a triumph of common sense, historical awareness, and crazed enthusiasm for a Broadway rap musical, the Treasury Department has announced that Harriet Tubman will replace Andrew Jackson on the $20 bill, which will void a previous decision to take Alexander "Hamilton" Hamilton off the $10. (Update, 4:45 p.m.: Treasury says there will still be some sort of image of Jackson on the back of the bill.) This is great news, and it brings up another important question: Which historical figure should our current president, Barack Hussein Obama, replace when we honor his legacy by putting him on an item...
  • Harriet Tubman is the next face of the $20 bill; $5 and $10 bills will also change

    04/20/2016 7:29:55 PM PDT · by Cheerio · 69 replies
    LAT ^ | April 20, 2016 | Samantha Masunaga
    arriet Tubman will replace President Andrew Jackson as the face of the $20 bill, and Jackson will be moved to the back of the bill alongside an image of the White House, Treasury Secretary Jacob J. Lew said Wednesday. Alexander Hamilton, the nationís first Treasury secretary, will remain on the front of the $10 bill, but the back of that bill, which currently bears an image of the Treasury building, will feature leaders of the suffrage movement. The reverse of the $5 bill will be overhauled to include opera singer Marian Anderson, First Lady Eleanor Roosevelt and civil rights leader...
  • Treasury Dept. Announces Big Changes to $10, $5 Bills Following Tubman News

    04/20/2016 1:39:10 PM PDT · by markomalley · 42 replies
    Mediaite ^ | 4/20/16 | Josh Feldman
    The Treasury Department made it official this afternoon: Harriet Tubman is replacing Andrew Jackson on the front of the $20, and there are other bills getting big changes too.Treasury Secretary Jacob Lew announced today that in addition to Tubman, the $10 and $5 bills are getting makeovers. And donít worry, Alexander Hamilton isnít going anywhere.But the back will be changed to this: The new $10 will honor the story and the heroes of the womenís suffrage movement against the backdrop of the Treasury buildingÖ The new $10 design will depict that historic march and honor Lucretia Mott, Sojourner Truth, Susan...
  • Martin Luther King to go on $5 bill

    04/20/2016 2:18:50 PM PDT · by markomalley · 144 replies
    Washington Examiner ^ | 4/20/16 | Joseph Lawler
    Abraham Lincoln will not be the only person depicted on the $5 bill much longer. The Treasury Department announced Wednesday that it will overhaul the design of the $5 note, a move overshadowed by its decision to revamp the back of the $10 bill to include women and to feature Harriet Tubman on the front of the $20. Civil rights icon Martin Luther King Jr., famed opera singer Marian Anderson and first lady Eleanor Roosevelt will be depicted on the back of the updated $5 bill.All three will be portrayed in historical moments in front of the Lincoln Memorial, which...
  • Harriet Tubman will replace Andrew Jackson on the $20 bill

    04/20/2016 9:22:20 AM PDT · by ChicagoConservative27 · 211 replies
    Harriet Tubman is going to replace former President Andrew Jackson on the $20 bill, according to a report. Treasury Secretary Jack Lew is expected to make the announcement on Wednesday, according to Politico. Sources told the site that he has also decided to keep Alexander Hamilton on the front of the $10 bill.
  • Hamilton to Stay on $10 bill, Jackson Will be Replaced on $20

    04/19/2016 1:47:41 PM PDT · by SeekAndFind · 57 replies
    After much speculation on the possible replacement of Alexander Hamiltonís portrait on the $10 bill, it appears the nationís first Secretary of the Treasury will stay put on the heavily-circulated note. While the high-profile support voiced by the cast and creator of the popular Broadway musical, Hamilton, could not have hurt the founding fatherís case to remain on the 10, it seems current Treasury Secretary Jack Lew counts himself among Hamiltonís admirers and was reluctant to replace him from the beginning. This doesnít mean things will stay as they are. CNN notes that a ďmural-style depiction of the womenís suffrage...
  • The New $20 Bill

    04/17/2016 6:40:03 PM PDT · by huckfillary · 45 replies
    Artful Dilettante ^ | April 17, 2016 | Artful Dilettante
    As it is now widely known, Treasury Secretary Jack Lew is set to retire Andrew Jackson as the face of the $20 bill, to be replaced by a woman. Lew, a charter member of America's morally challenged Ruling Class, added that the choice would likely be a woman prominent in the nation's struggle for racial equality. Treasury spokepersons, reflecting the glacial-like pace at which the wheels of bureaucracy turn, added that the change would likely not be implemented until circa 2030, and that changes would be coming to other denominations of America's near-worthless fiat currency that would capture a "set...
  • Jack Lew nears decision to keep Hamilton on front of $10 bill, put a woman on the $20

    04/16/2016 9:02:05 PM PDT · by PROCON · 106 replies
    CNN ^ | April 16, 2016 | Kevin Liptak and Antoine Sanfuentes
    Treasury Secretary Jack Lew is expected to announce this week that Alexander Hamilton's face will remain on the front of the $10 bill and a woman will replace Andrew Jackson on the face of the $20 bill, a senior government source told CNN on Saturday. Lew announced last summer that he was considering redesigning the $10 bill to include the portrait of a woman. The decision to make the historic change at the expense of Hamilton drew angry rebukes from fans of the former Treasury Secretary. The pro-Hamilton movement gained steam after the smash success of the hip-hop Broadway musical...
  • Plan for Woman on $10 Bill in Question as Hamilton Fans Lobby [Bloomberg Link Only]

    04/15/2016 5:51:34 AM PDT · by C19fan · 50 replies
    Bloomberg [Link Only] ^ | April 14, 2016 | Margaret Talev and Angela Greiling Keane
    here
  • America The Awesome: The Mighty Dollar

    04/11/2016 6:08:24 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | April 11, 2016 | Mark Nuckols
    This is the first in an eight-part series about America's awesomeness.†The United States of America is the most awesome country in the world Ė even when I was a child. I was grateful to live in America and not in some impoverished Third World country. But it is really my experiences living abroad and traveling across the globe that have utterly convinced me that America is a uniquely great country. Democracy and liberty are clearly the two most important birthrights of Americans. But today I want to write about the U.S. dollar. A stable national currency and low inflation are...
  • Obama considering easing financial restrictions on Iran

    03/31/2016 5:20:28 PM PDT · by Eleutheria5 · 17 replies
    Arutz Sheva ^ | 1/4/16 | Ben Ariel
    The Obama administration is considering easing financial restrictions that prohibit U.S. dollars from being used in transactions with Iran, officials said on Thursday, sparking anger among Republicans as well as some Democrats. .....
  • Swiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010

    03/24/2016 8:48:56 AM PDT · by SeekAndFind · 3 replies
    Zero Hedge ^ | 03/24/2016 | Tyler Durden
    By now it is common knowledge that when it comes to massive, taxpayer-backed hedge funds, few are quite as big as the Swiss National Bank, whose roughly $100 billion in equity holdings have been extensively profiled on these pages, including its woefully investments in Valeant and the spike in its buying of AAPL stock at its all time high. But while the SNB's stock holdings are updated every quarter courtesy of its informative SEC-filed 13F (we wish the Fed would also disclose the equities it holds courtesy of its Citadel proxy), getting a gllimpse of the flow is more...
  • In Whose God Do We Trust?

    03/17/2016 1:25:28 PM PDT · by Jyotishi · 8 replies
    KSAL.com ^ | March 10, 2016 | Karen Shade
    According to Dr. Joel Mathews, the phrase "In God We Trust" was first printed on our coins in 1864 and on paper bills in 1957. It had been proposed that "Our Country, Our God, Our Trust" be used, but that was shortened to be able to stamp the motto onto coins. Kansas State University Polytechnic's March Civic Luncheon began with Kansas Weslyan University's Dr. Philip Meckley asking: o How can we look at comparative religious traditions? o How can we live with differences for the sake of our human community? Matthews, a K-State Polytechnic instructor, began the lecture by saying...
  • Hamilton May Stay on the $10 Bill, Thanks to Help From Broadway

    03/17/2016 8:33:03 AM PDT · by C19fan · 26 replies
    NY Times ^ | March 16, 2016 | Michael Paulson
    Has ďHamiltonĒ saved Hamilton? Lin-Manuel Miranda, the creator and star of the hit Broadway musical ďHamilton,Ē said on Wednesday that he had received assurances from Jacob J. Lew, secretary of the Treasury, that admirers of Alexander Hamilton would not be disappointed by a forthcoming redesign of the $10 bill. Mr. Lew has said that he wanted to add a womanís image to that bill, which now features Hamiltonís portrait. That plan has won support from many, but there have also been complaints from those who donít want to see Hamilton, the countryís first Treasury secretary, replaced.
  • Lord Monckton: ĎThe Texas Talent Will Replace the Dollarí

    03/06/2016 8:03:54 AM PST · by Texas Fossil · 44 replies
    San Antonio Tea Party (republished from American Thinker 10/17/15) ^ | Republished from AmericanThinker.com October 17, 2015 | John Griffing
    Christopher Monckton, 3rd Viscount Monckton of Brenchley, who advised Prime Minister Margaret Thatcher, wrote for the Yorkshire Post, was managing editor of the Telegraph Sunday Magazine, has lectured at faculty level on currency theory and is now a columnist for WND, has long given warnings that the over-borrowing governments of the West are on a course to bankruptcy, from which recovery will not be possible.Monckton has now come out with his personal plan to sideline the collapsing dollar and rescue western markets: a sound and fully asset-backed currency called the Texas Talent. Users of the Talent would trade in their...
  • Suggestions for a Trump Presidency: Issue $500 Bills

    03/05/2016 12:44:49 PM PST · by marktwain · 34 replies
    Gun Watch ^ | 6 March, 2016 | Dean Weingarten
    When I graduated high school, in 1969, a $20 bill had about as much value as a $100 bill today.† Inflation has taken a toll.† In 1969, $500 and $1,000 bills were still in reasonably common circulation.† They had been issued up until 1945.† With the turn toward ever increasing government snooping and tracking of financial transactions, the bills were taken out of circulation with an executive order by President Richard Nixon. It is long past due to bring the $500 bill back into common use. The European Union issues 500 Euro bills. Cash is useful for preserving privacy...
  • Why Big Government Is Waging War Against Cash

    03/01/2016 7:13:31 PM PST · by MtnClimber · 53 replies
    Forbes ^ | 1 Mar, 2016 | Steve Forbes
    GAINING ATTENTION these days is the idea of abolishing high denominations of the dollar and the euro. This concept graphically displays the astonishing stupidity-and intellectual bankruptcy-of today's liberal economic policymakers and the economics profession. Larry Summers, a former Treasury Secretary and Harvard president, is pushing the U.S. to ban $50 and $100 bills. There's a lot of chatter, too, about prohibiting the Ä500 note. The ostensible reason is to help in the fight against terrorists, bribers, drug dealers and tax evaders by making it more inconvenient for these bad guys to move around and store their ill-gotten cash........ If the...
  • The Global Run On Physical Cash Has Begun: Why It Pays To Panic First

    02/28/2016 10:25:51 PM PST · by blam · 22 replies
    Zero Hedge | 2-29-2016 | Tyler Durden
    Tyler Durden2-29-2016Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about negative rates and wrote "Be Careful What You Wish For" saying that "if rates go negative, the U.S. Treasury Departmentís Bureau of Engraving and Printing will likely be called upon to print a lot more currency as individuals and small businesses substitute cash for at least some of their bank balances." Well, maybe not... especially if physical currency...
  • Banning the Benjamin Suggests the Democrats Are Running Out of Ideas

    02/21/2016 5:44:46 AM PST · by SeekAndFind · 42 replies
    New York Sun ^ | 02/20/2016 | Seth Lipsky
    Banning the Benjamin would strip Americans of a layer of privacy and a currency of convenience. It's being advanced as a war measure to make it harder for terrorists to carry cash. But it's a smokescreen for the fact that the Democrats are out of ideas on both the economy and national security. The putsch against the Benjamin is being sprung by Lawrence Summers. He was President Bill Clinton's treasury secretary and also a president of Harvard. He came within a whisker of being chairman of the Federal Reserve under President Obama. Mr. Summers wrote up his idea in the...
  • China warns Soros against ‚Äėdeclaring war‚Äô on its currency

    01/26/2016 2:07:18 PM PST · by SaveFerris · 70 replies
    http://www.marketwatch.com ^ | Published: Jan 26, 2016 4:02 p.m. ET | by Sue Chang
    Not long after billionaire George Soros forecast a so-called hard landing for the Chinese economy, Beijing fired back by calling out the high-profile investor, warning him of betting against its currency, according to media reports Tuesday. ‚ÄúSoros‚Äô challenge against the renminbi and Hong Kong dollar is unlikely to succeed, there is no doubt about that,‚ÄĚ said a government official in an opinion piece widely cited by several media outlets. The article headlined, ‚ÄĚDeclaring war on China‚Äôs currency? Ha ha,‚ÄĚ was published by the People‚Äôs Daily, the official newspaper of the Chinese Communist Party which is widely viewed as Beijing‚Äôs propaganda...
  • This Is What Gold Does In A Currency Crisis, China Edition

    01/10/2016 12:19:29 PM PST · by blam · 47 replies
    TMO ^ | 1-10-2016 | John Rubino
    John_Rubino January 10, 2016 As China’s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See Pressure on China central bank for bigger yuan depreciation. Chinese citizens, meanwhile, are anxiously awaiting tomorrow’s market open while mentally repeating the same three lines: Sure am glad I bought that gold last year. Wish I’d bought more gold last year. Wonder what I’ll have to pay for gold next week… Here’s what that looks like in...
  • Sources: China may devalue by 15%

    01/07/2016 3:45:27 PM PST · by sunrise_sunset · 4 replies
    Reuters ^ | 9-7-2015 | Kevin Yao and Pete Sweeney
    China's central bank is under increasing pressure from policy advisers to let the yuan currency fall quickly and sharply, by as much as 10-15 percent, as its recent gradual softening is thought to be doing more harm than good. The People's Bank of China (PBOC) has spent billions of dollars buying yuan over recent months to defend the exchange rate, but has failed to stabilize market sentiment. The currency has steadily lost another 2.6 percent against the U.S. dollar even after the bank sprung a surprise devaluation of nearly 2 percent in August.
  • Amid Bitcoin Centralization Worries, Core Developers Start New Currency Called Decred

    12/27/2015 9:06:03 PM PST · by Utilizer · 19 replies
    Softpedia ^ | 28 Dec 2015, 01:33 GMT | Catalin Cimpanu
    Some of Bitcoin's core developers have left the project and are now starting their separate digital currency called Decred, promoting an open governance model, which they say is missing in Bitcoin. Few people know how Bitcoin works, and even fewer know who are the men and companies behind the cryptocurrency, and who takes the decisions. According to a press release put out by Company 0 LLC, formed by former Bitcoin developers, there are a few external entities that fund the actual development of the Bitcoin cryptocurrency, forming a power-group that is in sole command of the direction the currency takes.
  • Zimbabwe Becomes Beijing's First African Colony With Adoption Of Chinese Yuan

    12/24/2015 8:47:31 AM PST · by SeekAndFind · 26 replies
    Zero Hedge ^ | 12/24/2015 | Tyler Durden
    To say that Zimbabwe has not had much luck with its monetary system experiments, would be an understatement. After its disastrous adventures with hyperinflation denominated in its own currency...†... Zimbabwe decided to entirely abandon its reserve currency and shift to the dollar. As we reported over the summer, the Zimbabwe Central bank completely "demonetized" the old Zimbabwe Dollar which would be removed as legal tender after the currency's use was abandoned in 2009 following a surge in inflation to 500 billion percent. To do this, the bank would exchange up to 175 quadrillion Zimbabwe dollars for $5 US dollars,...
  • Armored Federal Agents Raid Texas Secessionist Meeting.

    03/03/2015 8:48:16 AM PST · by grumpygresh · 26 replies
    patdollard.com ^ | 3/1/15 | Jack Flash
    In a deliberate ďshow of force,Ē federal and local police forces raided a political meeting in Texas, fingerprinting and photographing all attendees as well as confiscating all cell phones and personal recording devices. Members of the Republic of Texas, a seccession movement dedicated to restoring Texas as an independent constitutional republic, had gathered Feb. 14 in a Bryan, Texas, meeting hall along with public onlookers. They were debating issues of currency, international relations and celebrating the birthday of one of their oldest members.
  • THE BANKRUPT IRISHMAN WHO CREATED THE DOLLAR SIGN BY ACCIDENT

    11/25/2015 2:52:09 PM PST · by NYer · 13 replies
    Atlas Obscura ^ | November 23, 2015 | DAN HESS
    The only known depiction of Oliver Pollock, in Baton Rouge, Louisiana.¬†(Photo:¬†Richard Cummins/Alamy)Wars cost money. So when the Revolutionary War broke out, the Colonies turned to a number of sources for backing. The top contributors to America‚Äôs Independence: The Kingdoms of France and Spain, the Dutch banking conglomerate, and a single Irish merchant based in New Orleans. His name was Oliver Pollock, and he was the ‚ÄúFinancier of the Revolution in the West.‚ÄĚ ¬†Pollock saw opportunity in war‚Äď the chance for a young but wealthy immigrant to stand as a symbol of success and greatness. He desired to carve out a...
  • Treasury Sells 3-Month Bills At 0% Yield For First Time Ever

    10/10/2015 4:16:27 PM PDT · by Lorianne · 77 replies
    Zero Hedge ^ | 06 October 2015 | Tyler Durden
    "Investors" are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today's auction. That is a 0% yield - for the first time ever - lower even than the auction right after Lehman's bankruptcy in Nov 2008. It is probably safe to say that NIRP is next, followed by more negative yields further to the right of the curve, as the US gradually becomes Europe. But don't worry: as Yellen admitted during her healthcare-scare speech, "nominal interest rates cannot go much below zero", just a little.
  • Lazard Asset Management Fund Dumps The Dollar

    10/26/2009 11:07:33 AM PDT · by Lorianne · 6 replies · 495+ views
    Istock Analyst ^ | October 23, 2009
    It was only a matter of time before asset managers said "enough" to Bernanke's plan of debasing the dollar day after day, and took appropriate measures. In a not very surprising, yet quite shocking at the same time, development, caught by Annuity IQ, Lazard's The World Trust Fund has had enough of the dollar. Lazard will "change the currency in which the Fund's shares are traded from US dollars to Sterling." Good work Mr. Chairman and Wall Street lobby. The reason for the seismic shift: In response to comments from a number of shareholders and potential investors in the Fund...
  • You know the stock market is in trouble when Apple's Tim Cook is emailing Jim Cramer

    08/24/2015 6:21:07 PM PDT · by SeekAndFind · 52 replies
    The Verge ^ | 08/24/2015 | By Ben Popper
    Stock markets around the world have been†posting big losses for the last few days. The route was especially rough this morning, with the DOW Jones at one point falling 1,000 points in less than an hour. At the heart of the current slide is an issue which could impact many tech companies:†economic weakness in China. Two weeks ago China's government made an aggressive move to†devalue its currency. This followed several weeks of tumult in the Chinese stock market, during which the government had also interceded with force. Taken together, investors saw a Chinese market where growth was flagging. That...
  • George Soros: We Are On The Threshold Of A Third World War

    05/27/2015 8:46:07 AM PDT · by aimhigh · 57 replies
    ETF Daily News ^ | 05/27/2015 | Paul Joseph Watson
    Billionaire investor George Soros told the World Bank this week that the planet is on the verge of a third world war that could arise out of an economic collapse in China. ďIf there is conflict between China and a military ally of the United States, like Japan, then it is not an exaggeration to say that we are on the threshold of a third world war,Ē Soros said during a Bretton Woods conference. . . . . Soros said the only solution to the prospect was to allow China to join the IMFís basket of global currencies so that...
  • What Donald Trump Doesnít Know about U.S. Trade

    08/19/2015 6:42:03 AM PDT · by SeekAndFind · 86 replies
    National Review ^ | 08/19/2015 | Kevin D. Williamson
    A great deal of Donald Trumpís silly and illiterate trade talk presupposes the gutting or repeal of NAFTA, the trade accord between the United States, Canada, and Mexico that went into effect in 1994, with his dreams of punitive sanctions and blockades. Indeed, NAFTA is a favorite whipping boy for populists Left and Right, a reminder that populist conservatives have much more in common with populist progressives such as Senator Bernie Sanders than they do with the political tendency that connects Adam Smith to F. A. Hayek and Ronald Reagan. Trump fancies himself an ace negotiator, a skill that he...
  • Venezuela's Currency Is Now So Worthless That People Are Using It As Napkins

    08/18/2015 3:12:26 AM PDT · by blam · 11 replies
    BI ^ | 8-17-2015 | Mike Bird
    Mike BirdAugust 17,2015 There's an image going round that sums up just how ridiculous Venezuela's economy has become. A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada. According to Venezuela's official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20). But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.(snip)
  • 12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

    08/16/2015 4:24:40 AM PDT · by SkyPilot · 49 replies
    Economic Collapse ^ | 11 Aug 15 | Michael Snyder
    Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not...
  • Chinese Devaluation Extends To 3rd Day - Yuan Hits 4 Year Low, Japan Escalates Currency Race

    08/12/2015 9:03:30 PM PDT · by tcrlaf · 32 replies
    Zerohedge ^ | 8-12-2015 | Durden
    The "one-off" adjustment has now reached its 3rd day as The PBOC has now devalued the Yuan fix by 4.65% back to July 2011 lows. The PBOC seeks to reassure... -CHINA PBOC SAYS YUAN REMAINS STRONG CURRENCY IN LONG-TERM -PBOC SAYS THERE IS DEMAND FOR DEVALUATION OF YUAN VS USD -PBOC CHANGE OF YUAN MECHANISM RELATED TO JULY CREDIT: ZHANG -PBOC SAYS YUAN CHANGE IS BENEFICIAL TO LONG TERM STABILITY -PBOC SAYS YUAN EXCHANGE RATE ADJUSTMENT ALMOST COMPLETED *YUAN RATE ADJUSTMENT POSITIVE TO CONFIDENCE IN YUAN: PBOC'S YI *NEW YUAN MECHANISM `POSITIVE' TO INTERNATIONALIZATION: PBOC YI *PBOC SAYS NO BASIS...
  • 10 Reasons to Love the Strong Dollar [The USD is Today, the World's Strongest Major Currency]

    08/12/2015 6:01:38 AM PDT · by SeekAndFind · 6 replies
    The Street ^ | 08/12/2015 | BySimon Constable
    The surge in the greenback has some stock investors screaming foul, but they shouldn't be. Instead, they should embrace the strength. It is true that the trade-weighted value of the U.S. dollar has climbed more than 21% in the last 13 months, according to recent data from the St. Louis Federal Reserve. It's also true that the rally is taking its toll on the earnings reports of some multinational companies -- their foreign revenues take a hit when translated back into dollars. Still, there is plenty to feel great about. Here are 10 reasons to smile. 1. It makes imports...
  • Global Markets Turmoil After China Extends Currency War To 2nd Day - Devalues Yuan To 4 Year Lows

    08/11/2015 7:41:45 PM PDT · by tcrlaf · 38 replies
    Zerohedge ^ | 8-11-15 | Durden
    Chinese stocks opened lower, extending yesterday's losses, after The PBOC weakened its Yuan FIX dramatically for the 2nd consecutive day (from 6.1162 Monday to 6.2298 last night to 6.3306). Offshore Yuan fell another 9 handles against the USD after China closed but was hovering at 6.40 as the market opens (now at 11 hnadles weaker at 6.51). Bear in mind the utter devastation in Chinese credit markets that data showed occurred in July, it remains ironic that for the 3rd days in a row, Chinese margin debt balances grew. Before the real fun and games started, Chinese officials once again...