Finance

Russia dumps US debt, reducing holdings to lowest level in a year
The Central Bank of Russia has sold $3.1 billion in US Treasury bills as of February, reducing its investment in American debt to the lowest level since March last year. Moscow still occupies the 16th position among the largest holders of US government bonds. Russia has cut its holdings for the third consecutive month. [...]
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Big Brother is watching you: Jim Rogers prophesizes death of cash & total govt control of spending
The time will come when you won't be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governments will increasingly seek to hunt down cash spending, he adds. “Governments are always looking out for themselves first, and it's the same old thing that has been going on for hun [...]
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Richest 1% will own two-thirds of global wealth by 2030
A report by the UK House of Commons library has warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore balance. According to the report, seen by The Guardian, if trends seen since the 2008 financial crash were to continue, then the [...]
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China can succeed with petro-yuan where Gaddafi failed – killing the US dollar in oil trade
Muammar Gaddafi wanted to shatter the dominance of the greenback in the Middle East by introducing gold-backed dinar, but failed. China has a chance to finish what he started, one industry expert has told RT. “Ideas related to oil trade in currencies other than the dollar arose more than once.  [...]
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Bread and Circuses: WSJ Tries to Bury Its Own Deep Dive Into US Inequality
The Wall Street Journal is accused by its employees of attempting to suppress its own story after a senior editor allegedly tried to bury a deep dive into the 2008 global financial crisis and its aftermath. The Wall Street Journal (WSJ) published on Tuesday a graphics-heavy in-depth study on the aftermath of the world-shaking [...]
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Tesla just months from total collapse, says hedge fund manager
The American electric-car company Tesla will be bankrupt within four months unless its CEO Elon Musk “pulls a rabbit out of his hat,” according to hedge fund manager John Thompson. “Companies eventually have to make a profit, and I don’t ever see that happening here,” the head of Vilas Capital Management told Market W [...]
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Why petro-yuan may become biggest game-changer of all time in capital markets
The historic launch of the long-awaited trading of Chinese crude futures this week has stirred up a heated debate among analysts as to whether the new commodity product will prosper or flop. Some market analysts expressed doubts over the success of the petro-yuan, citing Beijing’s yearning for total control over trading as one [...]
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Petro-yuan helps Russia & China dump US dollar in oil trade
China is the world's biggest crude consumer and buys most of its oil from Russia. However, most settlements are still in US dollars. The launch of the petro-yuan now allows Moscow and Beijing to use national currencies instead. China and Russia are actively reducing dependence on the dollar in bilateral trade. In October 2017, [...]
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Russia-China combined gold reserves could shake US dominance in global economy
The gold accumulated by China and Russia could be seen as part of a strategy to move away from international trade denominated in US dollars, according to Singapore’s BullionStar precious metals expert Ronan Manly. Manly exclusively told RT that there is a shift occurring regarding the two countries building up their gold res [...]
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Capitalism Run Amok: US National Debt at $21 Trillion
The US, the world’s leading debtor nation, has reached another questionable milestone in its seemingly headlong rush into economic oblivion. The combined debt of the United States has topped $21 trillion for the first time, according to government statistics, following an announcement a mere six months ago that the debt ha [...]
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Hungary Repatriating Tons of Gold From UK Amid Fears of Economic Crisis
Central banks around the world have been building up their gold stockpiles to make sure they are stored on soil they can trust. The National Bank of Hungary (MNB) says it is bringing back three tons of the country’s gold reserves stored at the Bank of England in London, Gold Seek reported. The move to repatriate 130 mill [...]
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Unregulated Capitalism at Work: US Credit Card Debt Hits $1 Trillion
A first in global capitalism, US citizen consumer credit card debt has now topped $1 trillion. For the first time in history, consumer credit card debt in America has risen above the benchmark $1 trillion measure, according to Washington DC-based online personal finance website Wallethub.com. [...]
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Gold Rush Vol. 2: Why is Russia Buying More Gold?
In January, Russia’s Central Bank (CBR) increased its holding of gold by almost 20 metric tons to 1,857 tons, hitting a historic high and outstripping China in gold reserves. But why does Russia need so much gold and how does it help the government to level currency risks? Russia’s international reserves amount to $454 billi [...]
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Storm Coming: US Greenback Groaning From Weight of Economic Deficits
Recent changes to the US’ tax rates coupled with its current-account shortfall are creating stormy waters for the greenback and there is already evidence that the ship is letting in water. Bloomberg financial journalists have stated the greenback “is under the siege”, citing what they call “twin deficits”. So what’s [...]
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Russian banks ready to switch off SWIFT – official
Russian financial institutions and firms are ready to work without SWIFT's interbank cash transfer services, according to Deputy Prime Minister Arkady Dvorkovich. “Certainly, it is unpleasant, as it will prove a stumbling block for companies and banks, and will slow down work. It will be inevitable to deploy some aged technolo [...]
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