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Keyword: currency

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  • Tuesdays with Teeka: America’s Second Civil War

    10/09/2018 10:26:40 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | October 2, 2018 | Teeka Tiwari
    I see a Second Civil War breaking out in America. Now, I realize we’ve heard this before. And when I first uncovered this research, I almost dismissed it as sensationalist clickbait. But I’m glad I didn’t. This Civil War won’t be a shooting war. We’re not going to have a war between the North and the South on the battlefields of Fort Sumter or Gettysburg. It’ll be an economic Civil War… One in which states could exert their financial independence. And for the first time, we have the technology to make this possible. Before I get to the technology, I...
  • Turkey eager to use local currencies in trade: FM (with Venezuela)

    09/23/2018 9:54:10 AM PDT · by Texas Fossil · 14 replies
    Anadolu Ajansı (Turkish State Propaganda Source) ^ | 9-22-2018 | Fatih Hafız Mehmet and Tugcenur Yilmaz
    Currencies should not be used as instruments to attack other countries' economies, says Mevlut Cavusoglu, referring to US ANKARA / CARACAS, Venezuela Turkey is eager to use local currencies in bilateral trade deals to counter attacks by the U.S., Turkey’s foreign minister said late Friday. "We are so keen actually to use local currencies in our bilateral trade, not only between Turkey and Venezuela, but also between Turkey and other countries," Mevlut Cavusoglu told a joint press conference in Caracas with his Venezuelan counterpart Jorge Arreaza. Cavusoglu said since Washington has been using the dollar as a tool to attack other countries’ economies,...
  • Argentina's central bank hikes rates to 60% as the currency collapses

    08/30/2018 10:50:10 AM PDT · by Red Badger · 33 replies
    cnbc ^ | 08/30/2018 | Sam Meredith
    Investors are increasingly concerned Latin America's third-largest economy could soon default as it struggles to repay heavy government borrowing. The peso is down more than 45 percent against the greenback this year, exacerbating pre-existing fears over the country's weakening economy and inflation running at 25.4 percent this year. "I know that these tumultuous situations generate anxiety among many of you ... I understand this, and I want you to know I am making all decisions necessary to protect you," Macri said. Argentina is struggling to cope with yet another financial crisis. Investors are increasingly concerned Latin America's third-largest economy could...
  • Stocks rally hits pause, peso and lira tumble (Venezuela, Turkey)

    08/31/2018 5:37:21 AM PDT · by Texas Fossil · 20 replies
    Yahoo News (from AFP) ^ | August 30, 2018 | AFP
    Stock markets dropped Thursday on profit-taking after a recent run higher on optimism on trade deals, and news on more US tariffs on China, while Argentina's peso and the Turkish lira tumbled. The peso slumped to a new record low, prompting Argentina's central bank to raise its benchmark interest rate to 60 from 45 percent in a bid to arrest a slide in its value. The drop came even after the International Monetary Fund's agreed to consider Argentina's request to speed up payments under its $50 billion loan. The peso fell 13 percent against the US dollar, taking its losses...
  • U.S. court rejects atheists' appeal over 'In God We Trust' on money

    08/29/2018 7:05:36 AM PDT · by Leaning Right · 20 replies
    Reuters ^ | AUGUST 28, 2018 | Jonathan Stempel
    A federal appeals court on Tuesday said printing “In God We Trust” on U.S. currency is constitutional, citing its longstanding use and saying it was not coercive. The 8th U.S. Circuit Court of Appeals in St. Paul, Minnesota rejected claims by 29 atheists, children of atheists and atheist groups that inscribing the national motto on bills and coins violated their First Amendment free speech and religious rights.
  • Venezuela 'paralysed' by launch of sovereign bolivar currency

    08/21/2018 5:03:49 PM PDT · by Libloather · 30 replies
    BBC ^ | 8/21/18
    Venezuela came to a standstill on Tuesday as the country tried to deal with its newly introduced currency. Thousands of businesses closed in order to adapt to the "sovereign bolivar", and many workers stayed at home. President Nicolás Maduro launched the new banknotes on Monday, revaluing and renaming the old bolivar currency. The government says this will tackle runaway inflation, but critics say it could make the crisis worse. The notes went into circulation on Tuesday.
  • Turkey's lira weakens 6% more on threat of more U.S. sanctions; U.S. Pastor's Appeal Rejected

    08/17/2018 8:19:58 AM PDT · by SeekAndFind · 11 replies
    Reuters ^ | 08/17/2018 | Daren Butler, David Dolan
    Turkey’s battered lira weakened more than 6 percent against the dollar on Friday, after a U.S. warning that Ankara should expect more economic sanctions unless it hands over detained American evangelical pastor Andrew Brunson. It has lost nearly 40 percent of its value against the dollar this year, hit by both the diplomatic rift and investor alarm about President Tayyip Erdogan’s influence over monetary policy. Erdogan, a self-described “enemy of interest rates”, wants to lower borrowing costs despite high inflation. The currency crisis has deepened concerns about the broader economy - particularly Turkey’s dependence on energy imports and whether foreign-currency...
  • Turkey’s Currency Meltdown

    05/24/2018 12:14:14 PM PDT · by BeauBo · 65 replies
    Wall Street Journal ^ | 23 May 2018 | WSJ Editorial Board
    Turkey’s lira fell as much as 5% on Wednesday (23 May '18), and it’s lost more than a fifth of its value this year... On Wednesday the (Turkish Central) bank lifted a key lending rate to 16.5% from 13.5%... Mr. Erdogan has wanted to keep interest rates low before the June 24 parliamentary and presidential elections when he hopes to consolidate even more power.
  • Iran Faces Economic Challenges as Its Currency Plunges

    05/04/2018 12:39:21 PM PDT · by detective · 18 replies
    Algemeiner ^ | May 4, 2018 | Doron Itzchakov
    The sharp decline in the value of the Iranian currency is causing upheaval in the Iranian economy, and challenging the government and the banking sector. The local currency’s plunge to a rate of 6,000 tomans to the dollar, despite the high level of oil and gas revenues, reflects a lack of trust between the citizens and the banking system. A consideration of Iran’s economic policy sheds light on the limitations of the “dual economy” practiced by the Islamic Republic since its inception. At a time when Iran’s moves in the geopolitical sphere are getting the lion’s share of public attention,...
  • RBI may not give a damn to US branding India currency manipulator

    04/16/2018 6:45:23 AM PDT · by ptsal · 2 replies
    The Economic Times ^ | 18-Apr-2018 | staff
    [Appears to be sourced from Bloomberg]See article.
  • Gold is taking back its crown from bitcoin as best defensive play, strategist says

    04/12/2018 9:05:31 AM PDT · by NRx · 9 replies
    CNBC ^ | 04-12-2018 | Keris Lahiff
    Gold is surging to two-year highs. But does the rally have legs? Gold is surging to two-year highs. But does the rally have legs? 19 Hours Ago | 02:30 Gold soared to two-year highs this week as uncertainty rattled the market. The bull run isn't over yet, says one strategist. "I am a buyer. I really do like it," Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC's "Trading Nation" on Wednesday. It's "retaking its mantle as the key defensive asset against bitcoin, which has certainly suffered a lot over the last couple of months." As...
  • Venezuelans recycle worthless bolivar bills into crafts

    02/26/2018 5:08:09 AM PST · by C19fan · 5 replies
    AP ^ | February 25, 2018 | Luz Derby DePablos
    A family of Venezuelan immigrants to Colombia are repurposing their worthless bolivars into origami-made paper wallets, belts and even purses as the currency plunges further in value amid four-digit inflation. Each collector item produced by Richard Segovia fetches between $10 and $15 — a huge markup from the pennies that bolivars retrieve on Venezuela's black market.
  • How China and Hong Kong’s Currencies Were Shaped by Spanish, Mexican Silver Dollars

    02/25/2018 6:36:08 PM PST · by nickcarraway · 7 replies
    South China Morning Post ^ | Wednesday, 07 February, 2018 | Stuart Heaver
    Many modern East Asian currencies have roots in Ming dynasty trade and Chinese traders’ faith in the Mexican silver dollar. Attempts to dislodge it, such as the Hong Kong-minted silver British dollar, were not always successfulAt the antiques market near the old Qingjing mosque in central Quanzhou, a city in China’s south-eastern Fujian province, it is sometimes possible to purchase unusual silver objects that reveal much about the currencies in circulation in East Asia today. On one stall, crammed with opium pipes, blue-and-white ceramics and jade trinkets, is a small, dome-shaped lump of metal in a rusty tin box. It...
  • Shekel, Euro, pound down - dollar up

    02/05/2018 2:12:29 PM PST · by Eleutheria5 · 2 replies
    Arutz Sheva ^ | 5/2/18
    The official value of the shekel slipped an average of .023 percent on Monday in mixed trading against the featured currencies on the Bank of Israel's foreign-exchange list. The United States dollar was fixed at NIS 3.442, up .35 percent from Friday, while the Euro declined .056 percent to 4.2819 shekels, and the pound sterling was set at 4.8348 shekels, down .932 percent ...
  • Stunning: Bitcoin Price Plummets In Just 24 Hours

    12/22/2017 10:14:33 AM PST · by BenLurkin · 221 replies
    cbs2la ^ | 12/22/2017 | Michael Shane, cnn
    Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from CoinDesk.com. It later rebounded slightly to around $12,000 — but that’s still a stunning 25 percent less valuable than bitcoin was Thursday morning. Prices had approached $20,000 as recently as Sunday. The turbulence comes on the back of a few days of bad news for bitcoin, which has still soared by more than 1,000 percent since the start of the year. On Thursday, a bitcoin spinoff called bitcoin cash was suspended from one of the most popular...
  • Coinbase says buying and selling is temporarily disabled amid price rout (edited)

    12/22/2017 10:52:13 AM PST · by RightGeek · 46 replies
    CNBC ^ | 12/22/2017 | Evelyn Cheng
    Full title: Coinbase, one of the biggest bitcoin marketplaces, says buying and selling is temporarily disabled amid price rout Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that trading was temporarily disabled amid a price rout in cryptocurrencies. "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET. The company added in a subsequent statement that "due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as...
  • Bitcoin, Ethereum and other major cryptocurrencies slip while Ripple briefly surges to third place

    12/22/2017 2:10:34 AM PST · by cba123 · 11 replies
    CNBC ^ | 12/22/2017 | Ryan Browne
    Ripple briefly retook its place as the third-largest cryptocurrency, with a market value of $47 billion, a milestone it reached earlier this month.
  • Goldman Sachs launching trading desk for bitcoin, report says

    12/21/2017 4:15:57 PM PST · by x1stcav · 21 replies
    CNBC ^ | 12/21/17 | Evelyn Cheng
    Goldman Sachs is planning to get into the business of trading digital currencies such as bitcoin, Bloomberg News reported Thursday, citing sources familiar with the matter. "In response to client interest in digital currencies, we are exploring how best to serve them," a Goldman spokesperson said in a statement to CNBC about the report. The new trading desk would "make markets" in the cryptocurrencies and is set to get up and running by the end of June, if not earlier, two of the sources said in the report. The bank is still trying to work out security issues on how...
  • Half of Germans Want to Scrap Euro, Bring Back Deutsche Mark

    12/19/2017 7:32:02 AM PST · by GonzoII · 27 replies
    Breitbart ^ | 18 Dec 2017 | Liam Deacon
    Almost half of Germans what to see the Deutsche Mark restored, with just 41 per cent saying they want to keep the euro. The YouGov-Institute survey, commissioned by the newspaper Bild, found that 49 per cent of Germans want their nation to have its own, independent currency again. Meanwhile, 41 per cent of those questioned wanted to stay with the euro, the single currency of the European Union (EU). Nearly 77 per cent of the 1,068 Germans quizzed thought they had not profited from the adoption of the euro currency. A decisive 60 per cent said they would vote against having...
  • The Two Driving Factors Behind the Cryptocurrency Hiring Spree

    09/27/2017 10:17:19 PM PDT · by 2ndDivisionVet · 2 replies
    The Merkle ^ | September 27, 2017 | J.P. Buntinx
    Landing a job in the world of cryptocurrency has become a lot easier over the past few months. Given the surge in the popularity of Bitcoin and most tokens, that is not necessarily surprising. As it turns out, there are two main reasons as to why the number of job openings in this industry has increased exponentially. Whether or not these trends will remain in place a year from now remains to be seen, though. 1. Initial Coin Offerings Although most people have no love lost for the ICO industry, no one can deny a lot of jobs are created...