Finance

History made: US national debt tops $22 trillion
The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers. On Tuesday, the US Treasury Department published the daily statement showing outstanding public debt standing at $22.01 trillion. [...]
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Ruble flexes its muscle after Moody’s lifts Russia’s rating to investment grade
The Russian ruble has been gaining ground on the US dollar and the euro after global credit rating agency Moody’s upgraded Russia’s sovereign rating to investment grade with a stable outlook. [...]
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Moody’s Upgrades Russia’s Debt Rating to Baa3, Changes Outlook to Stable
NEW YORK (Sputnik) - Moody's Investors Service said in a statement that it upgraded Russia’s issuer and unsecured senior debt ratings from Ba1 to Baa3 and changed its outlook from positive to stable. [...]
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Are Russia, China & Turkey bringing back the gold standard? RT’s Keiser Report finds out
Global central banks bought more bullion last year than at any time since 1971, when the US ended the gold standard. Governments added 651.5 tons of gold to their coffers in 2018, according to the World Gold Council. It said that Russia, China and Turkey are leading the gold-buying spree. [...]
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Refusal to hand over Venezuelan gold means end of Britain as a financial center – Prof. Wolff
The freezing of Venezuelan gold by the Bank of England is a signal to all countries out of step with US interests to withdraw their money, according to economist and co-founder of Democracy at Work, Professor Richard Wolff. [...]
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US risks losing triple-A sovereign credit rating over shutdown, Fitch warns
The ongoing government shutdown in the United States could soon start to negatively impact the country’s debt ceiling, ratings agency Fitch said. The US runs a record deficit and pushes overall borrowing past $22 trillion. A shutdown of about a quarter of the US government entered its 19th day on Wednesday, with lawmakers and the White House divided over President Donald Trump’s demand fo [...]
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Fueled by Western sanctions Russia outshines China to become world’s 5th biggest holder of gold
The Central Bank of Russia reported purchasing 8.5 million troy ounces of gold in January-November 2018. With its 67.6 million ounces of gold Russia is now the world's fifth largest holder behind the US, Germany, France and Italy. [...]
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Which countries are dumping the dollar and why?
The European Union is considering switching payments from the US dollar to the euro after Washington threatened to target European firms working in Iran. But the EU is not the first to ditch the greenback, as the experts tell RT. [...]
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Bye-bye dollar: India & UAE agree to trade in local currencies
New Delhi and Abu Dhabi have inked a currency swap agreement to boost trade and investment without involvement of a third currency like the US dollar. The swap is for an amount of two billion UAE dirham or 35 billion Indian rupees (US$495 million), according to the Indian Embassy in Abu Dhabi. [...]
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Russia Holds Quarter of International Yuan Reserves Amid US Sanctions Spree
While it has long been clear that countries under US sanctions are more than motivated to turn their backs to the iconic greenbacks, the central bank’s interim review has shed some light on which economic zone Russia is intent to place its stake instead. [...]
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Russia shifts $100bn of its reserves into Yuan, Yen & Euro in a Great Dollar Dump
The Central Bank of Russia has moved further away from reliance on the US dollar and has axed its share in the country’s foreign reserves to a historic low, transferring about $100 billion into euro, Japanese yen and Chinese yuan. [...]
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Ouch! Dow sinks 600 points as Apple suffers biggest single-day loss in 6 years
The Dow Jones Industrial Average tumbled more than 660 points as Apple stock dropped nearly 10 percent – the biggest single day decline for the company since 2013 – just one day after it slashed its revenue forecast. [...]
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Gold hits 6-month high as Apple wreaks havoc in global markets
Gold has reached a more than six-month peak rising above $1,300 as investors rushed to seek refuge in the metals after iPhone maker downgraded its revenue forecast and amid fears of a global economic slowdown. The precious metal futures climbed in a second straight session on Thursday after US stocks saw the worst start of the year in more than a decade. [...]
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Boom Bust inequality special
Wealth inequality is becoming one of the fastest growing problems facing the US. As the nation gets richer, who benefits? Richard Wolff helps break down all the different facets as he and Bart dissect why people are finding it harder and harder to afford the basic needs of life. Wealth inequality can also extend to nations; Hilary Fordwich breaks down the situation as certain countries grow while [...]
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Avoid US stocks: Emerging markets is where to put your money in 2019, says Morgan Stanley
Stocks in emerging markets have had a rough year but are tipped for a turnaround, according to Morgan Stanley, which predicts stable growth in those economies in 2019. [...]
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Top 5 countries opting to ditch US dollar & the reasons behind their move
The past year was full of events that inevitably split the global geopolitical space into two camps: those who still support using US currency as a universal financial tool, and those who are turning their back on the greenback. Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries to take a fresh look at alternative payment systems [...]
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Russian Banks May Receive Full-Fledged Licenses in China – Trade Representative
BEIJING (Sputnik) – Liberalization of the Chinese banking legislation provides Russian banks with an opportunity to receive full-fledged licenses for their work in China, Russia's Trade Representative in the Asian country, Sergey Iniushin, told Sputnik. [...]
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Bumpy Road: Euro’s Fate in Limbo After 20 Years of Existence
The common European currency, which was created on 1 January 1999 and became a physical currency three years later, will soon mark its 20-year anniversary, having survived major crises over the last decade. Sputnik has recalled how the euro started its path, what challenges it has faced and what prospects it has. [...]
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Russia shuts down foreign forex platforms specializing in moving money offshore
The Bank of Russia has revoked licenses of five out on nine foreign exchange dealers operating in the country – Alpari Forex, Forex Club, Fix Trade, Trustforex, and Teletrade Group. The decision comes into force on January 27. [...]
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