Finance

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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Switzerland & United States are the world’s most corrupt nations – report
A new study from advocacy group Tax Justice Network reveals that Switzerland is the world’s most-corrupt country, with a “high secrecy score of 76.” It’s followed by the US and the Cayman Islands. [...]
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Trump & the Fed: US Shadow Bankers About to Deepen Control of US Economy
What’s sometime referred to as ‘shadow bankers’ have been running the economy and drafting US domestic economic policy since Trump took office. ‘Shadow’ banks include such financial institutions as investment banks, private equity firms, hedge funds, insurance companies, finance companies, asset management companies, e [...]
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US dollar crashes to 3yr lows against major currencies
The greenback has touched the lowest level against major global currencies since 2015. This comes after the US treasury secretary announced that Washington favors a weak dollar in trade.  Addressing the World Economic Forum in Davos, Switzerland, Steven Mnuchin said that a weaker dollar “is good for us as it relates to trade [...]
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World’s richest 1% bagged 82% of global wealth in 2017, while poorest half got nothing – Oxfam
World’s richest 1% bagged 82% of global wealth in 2017, while poorest half got nothing – Oxfam The inequality crisis is worsening, according to a new study by global charity Oxfam, which found that the world’s richest 42 people own the same amount of wealth as the poorest 50 percent worldwide. [...]
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Soros predicts EU breakdown, calls Russia ‘resurgent power’
George Soros has lamented that the European Union is on the verge of collapse while Russia is becoming “a resurgent nationalist power.” Hungarian-American tycoon George Soros, who runs the $26 billion Soros Fund Management and chairs the global board of the Open Society Foundations (OSF), made the remarks while speaking to t [...]
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Here we go again: US government shuts down for the 18th time
The US government shut down at midnight Friday, the 18th such event in modern US history. RT takes a look at previous instances of congressional stalemate that brought the country to a standstill. A shutdown occurs when Congress can’t agree on a spending bill. It results in the temporary suspension of “non-essential” civil [...]
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Between the Null and the Void
Happy cultures are all alike. But this is not a happy culture. Sullen and sour, America seems like a country whose nerves are shot. And, after 16 straight years of war, why wouldn’t the political neurons be frayed? Each day the fear factor is being ratcheted up. New threats are being targeted. New wars being planned. A paralyt [...]
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Richest man in history: Amazon’s Bezos earns more in 5 days than most could in 5 lifetimes
Amazon CEO Jeff Bezos has become the wealthiest person in history and the first to outrank Microsoft’s Bill Gates on the rich list, according to data compiled by Bloomberg. Gates was the only one to have made 13-figure fortune. [...]
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Ukrainian currency plunges to new record low
Ukraine’s hryvnia has hit rock bottom, now 34 against the euro. This is the lowest point for the Ukrainian currency ever tracked. The hryvnia has also plunged to a record low against the Russian ruble, trading at 4.99 hryvnia to 10 rubles. The Ukrainian currency is on its hat-trick against the US dollar. One dollar is worth 28 [...]
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David Stockman On The Real “Shithole” – $40 Trillion & Counting…
"America does not need Walls; it actually needs tens of millions of younger and working age immigrants who can function as tax mules to carry the burden of 105 million baby-boomer and retirees" Washington is drifting rapidly into a hellacious fiscal calamity and the only thin reed of resistance is the once and former party of f [...]
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US gold of low purity & that’s why audit of reserves will never be allowed – expert tells RT
The United States doesn’t let anyone see its gold reserves. Even if the Treasury has the number of billions it claims, they are not tradable, warns Singapore’s BullionStar precious metals expert Ronan Manly. [...]
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$21 trillion of unauthorized spending by US govt discovered by economics professor
The US government may have misspent $21 trillion, a professor at Michigan State University has found. Papers supporting the study briefly went missing just as an audit was announced. Two departments of the US federal government may have spent as much as $21 trillion on things they can’t account for between 1998 and 2015. [...]
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Russia may turn to cryptocurrencies in oil trade to challenge sanctions & the petrodollar
The gradual acceptance of digital currencies, with major exchanges about to launch bitcoin futures trading, may prompt some oil producing nations to ditch the US dollar in crude trade in favor of cryptocurrencies, an oil analyst says. Russia, Iran and Venezuela have more than one thing in common. All three are major oil pro [...]
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Dollar should not dominate the world – Russian PM Medvedev
The international financial system needs to balance which is why there is no place for a dominant currency, said Russian PM Dmitry Medvedev. “The balanced system of financial relations should be based on the use of various reserve currencies, various forms of settlement. There should be no domination of any one currency,” s [...]
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Worst stock market crash ever is coming – Max Keiser on Black Monday’s 30th anniversary
30 years after the 1987 Black Monday stock market crash, stocks are trading at all-time highs. Max Keiser warns biggest ever market crash is coming. Thirty years ago Wall Street slid into the abyss, suffering the biggest one-day market fall of over 22 percent. Since then the Dow Jones has risen from 1,738 points to an all-time h [...]
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