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Keyword: currency

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  • [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. ... http://www.dallasblog.com/201204241008984/dallas-blog/bo-xilai-alleged-financier-george-soros.html
  • 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
    Townhall.com ^ | 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...
  • Why Bitcoin, Ethereum, and most altcoins are doomed! (Opinion / Vanity)

    09/05/2019 7:06:07 AM PDT · by blabs · 35 replies
    Vanity ^ | 09/052019 | Self
    If you're not familiar with the term "Bretton-Woods" and "Petrodollar", allow me to provide a brief summary. To help fund World War II, the US ratified the Bretton-Woods agreement, essentialy creating Fiat money (tying only a small fraction of Gold to the US Dollar). Since the US controlled 2/3 of the worlds gold, it placed the US Dollar as the world reserve currency and created the ability to print money on demand (then ultimately leading to a complete severing of gold and the beginning of the endless devaluation of the US Dollar) Bretton-Woods was terminated in 1971, and the Petrodollar...
  • The Fed can’t rescue us from the coming supply-shock recession

    08/24/2019 7:14:48 AM PDT · by SeekAndFind · 80 replies
    MarketWatch ^ | 08/24/2019 | Nouriel Roubini
    There are three negative supply shocks that could trigger a global recession by 2020. All of them reflect political factors affecting international relations, two involve China, and the United States is at the center of each. Moreover, none of them is amenable to the traditional tools of countercyclical macroeconomic policy. The first potential shock stems from the Sino-American trade and currency war, which escalated earlier this month when President Donald Trump’s administration threatened additional tariffs on Chinese exports, and formally labeled China a currency manipulator. The second concerns the slow-brewing cold war between the U.S. and China over technology. In...
  • Why the U.S. Dollar Will Remain Strong

    08/24/2019 7:21:10 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 08/24/2019 | David Beckworth
    The president is irked by the dollar’s persistent strength, but he shouldn’t blame China or the Fed. This month the Trump administration officially declared China a currency manipulator. This declaration, the latest salvo in the ongoing U.S.–China trade war, came after the Chinese government allowed its currency, the yuan, to fall to its lowest value in a decade. It is now trading at just over 7 yuan to a dollar. The currency-manipulation designation is one of the most unwarranted charges volleyed against China by the Trump administration. The depreciation of the yuan was largely caused by market forces and, by...
  • Mark Carney calls for global monetary system to replace the dollar

    08/23/2019 6:29:40 PM PDT · by SaveFerris · 45 replies
    Yahoo (D-MSM) and Financial Times ^ | Chris Giles in London | [Financial Times]
    Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar “won’t hold” and needs to be replaced by a new international monetary and financial system based on many more global currencies.
  • The Treasury Department Is Wrong. China Didn’t Just Devalue Its Currency.

    08/14/2019 2:21:10 PM PDT · by Tolerance Sucks Rocks · 27 replies
    The Daily Signal ^ | August 13, 2019 | Riley Walters
    The U.S. Treasury Department has incorrectly labeled China a manipulator of its currency. An important distinction exists between devaluing a currency and currency depreciation. Devaluing implies the People’s Bank of China actively manipulated the value of the Chinese renminbi to gain unfair advantage for its exports. Depreciation simply means the renminbi has lost purchasing power relative to the U.S. dollar, based on market forces. There’s no indication that China is actively devaluing its currency. However, according to the Treasury Department, China met a broad definition of manipulation laid out in the Omnibus Trade and Competitiveness Act of 1988, which says...
  • Dow plunges 875 points after China devalues its currency

    08/05/2019 11:47:14 AM PDT · by Innovative · 75 replies
    CNN Business ^ | Aug. 5, 2019 | Anneken Tappe
    The Dow tumbled 875 points and global stocks were in disarray on Monday after China escalated the trade war with the United States. The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs. The weak yuan ignited fear on Wall Street that a currency war has begun or that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors...
  • China exchange rate drop could continue into 2020 as it tries to offset US tariff impact: Analysts

    08/05/2019 9:48:58 AM PDT · by SeekAndFind · 65 replies
    South China Morning Post ^ | 08/05/2019 | by Karen Yeung and He Huifeng
    The decline of China’s yuan on Monday to its lowest level in 11 years against the US dollar could continue into 2020 amid the apparent shift in its policy stance by the Chinese authorities, who are showing increasing reluctance to provide concessions to resolve its trade war with the United States. The Chinese currency’s drop has also rattled the currency market, sending 11 regional currencies lower. The yuan slid 1.3 per cent to 7.0298 against the dollar on Monday in response to President Donald Trump’s threat to impose a new 10 per cent tariff on the US$300 billion of Chinese...
  • He signed FOUR of America's founding documents & wanted gold coins as medium of exchange!

    08/01/2019 7:29:33 PM PDT · by Perseverando · 7 replies
    American Minute ^ | July 23, 2019 | Bill Federer
    He was the only person to sign all four of America's founding documents: -Articles of Association-1774, -Declaration of Independence-1776, -Articles of Confederation-1777, -U.S. Constitution-1787. Who was he? Roger Sherman. At age 19, Roger Sherman's father died and he supported his family as a shoe cobbler, helping his two younger brothers to attend college and become clergymen. Roger Sherman was a surveyor and merchant, but when a neighbor needed legal advice, he studied to help, only to be inspired to become a lawyer. Sherman was elected a state senator, a judge and a delegate to the Continental Congress. He was on...
  • End The Fed

    07/23/2019 12:42:54 PM PDT · by Windflier · 8 replies
    Facebook ^ | Unknown | US BLS
  • The Good, the Bad and the Ugly with Facebook’s Libra Cryptocurrency

    07/01/2019 3:37:38 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | July 1, 2019 | Brian Darling
    There are many takes on the Facebook roll out of a new cryptocurrency called Libra. Most experts in the field have mixed feelings about this new attempt to provide an alternative to fiat currency. There are some good and bad qualities of this new product. The good is that Facebook is providing yet another alternative to fiat currency. Anything that disrupts the central bank and provides alternatives for consumers to pay for products will disempower banks and the Federal ReserveÂ’s monopoly over currency. One of the great qualities of cryptocurrency is that power is being pulled away from the big...
  • Facebook’s cryptocurrency to debut next week backed by Visa, Mastercard, Uber, and others: WSJ

    06/14/2019 5:22:02 AM PDT · by DEPcom · 37 replies
    The Verge ^ | Jun 14, 2019 | Jon Porter
    Facebook has secured the backing of over a dozen companies for its upcoming Libra cryptocurrency set to be announced next week, The Wall Street Journal reports. These companies include major financial organizations like Visa and Mastercard, and internet darlings like PayPal, Uber, Stripe, and Booking.com. Each will invest around $10 million to fund development of the currency, and will become part of the Libra Association, an independent consortium that will govern the digital coin independently of Facebook.
  • Justices reject challenge to 'In God We Trust' on U.S. money

    06/10/2019 7:58:31 AM PDT · by jazusamo · 34 replies
    The Washington Times ^ | June 10, 2019 | Alex Swoyer
    The Supreme Court rejected a case Monday brought by an atheist who wanted to scrub “In God We Trust,” the U.S. motto, from the nation’s currency, claiming it was an entanglement of state and religion. Michael Newdow, an activist who previous challenged reciting the Pledge of Allegiance in schools, had set his sights on money, but lost at the district, circuit and now Supreme Court levels. On behalf of a group of atheists, Mr. Newdow argued America’s money lacked an reference to God until 1864, when it was added in. He said that amounted to an endorsement of religion.