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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 […]

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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 […]

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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 […]

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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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US debt soars nearly $1.4 trillion from last Christmas, rising $44,000 per second

The year-on-year surge in US sovereign debt has totaled $1.37 trillion, the latest data released by the US Treasury Department shows. The national debt reportedly rose to $21,863,635,176,724.12 as of December 20 of the current year compared to $20,492,874,492,282.58 on December 25, 2017.

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$114mn down the toilet: Summing up annual shaming report on egregious US govt waste (VIDEO)

A $2.4 million daydreaming study and a very scientific examination of the sex habits of coked-up quails topped Senator Rand Paul’s annual list of maddening government waste, which this year clocked in at $114 million.

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