What Is The Federal Reserve? The Federal Reserve, or Fed, is a privately owned central bank that controls the money supply of the United States. All the dollars we have in existence today were created by the Federal Reserve. In fact, if you look at any piece of currency you will see that it says Federal Reserve Note on it: /* */ ------ View the source page he [...]

The US dollar’s status as the world’s major reserve currency, which it held for decades, could come under threat, according to Anne Korin from the Institute for the Analysis of Global Security. “Major movers” such as Russia, China, and the European Union have a strong “motivation to de-dollarize,” Korin, the co-director at the energy and security think tank, told CNBC. [...]

A new survey from consultancy McKinsey & Co has found that a majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs. The study looked at 1,000 banks in developed and emerging countries and found that just over a third had made a return on capital of just 1.6 percent over the past three years. This compares to returns of j [...]

Further turning away from the greenback, Russia is eyeing the yuan and the euro as currencies for Eurobonds next year, Russian Finance Minister Anton Siluanov has said on the sidelines of an IMF and World Bank meeting. Answering journalists’ questions about the impact of US sanctions on the Russian sovereign debt market, Siluanov said that Moscow will consider the issue as it has been creating t [...]

Forecasting the imminent demise of European banks, an expert talks RT’s Keiser Report through last week’s repo market meltdown and what it may indicate. “The treasuries that settled last week didn’t go well on the funding market – the Fed had to step in and do a $75 billion repo facility on an overnight basis for these treasury securities,” [...]

Last week, the Trump administration imposed new economic sanctions against Iran, targeting its central bank and its sovereign wealth fund. The head of Iran’s Central Bank Abdolnaser Hemmati said Wednesday that Iran and Russia have turned to bilateral trade in national currencies as both countries fall under US sanctions. [...]

The Dow Jones saw a steep drop of 700 points after a threat from Beijing to slap new tariffs on billions of dollars in American goods, and a harsh response from US President Donald Trump, but picked up before ending 621 down. [...]

The International Monetary Fund (IMF) has warned trade war rivals, China and the US, that hiking tariffs only harms both domestic and global growth. The IMF also noted that manipulating exchange rates also doesn't work. [...]

Several major world economies, including Russia and China, have recently been discussing ways to abandon the dollar in bilateral transactions. Notably, Russian President Vladimir Putin has accused the US of using the status of its currency as a tool of pressure against other states and said that it undermines global trust in the dollar. [...]

The rise of cryptocurrency has sparked intense debate on its role in central banking systems, as well as economic viability in monetary supply chains. [...]

Millionaire sex offender Jeffrey Epstein has been found “injured and in a fetal position” in his New York jail cell with marks around his neck, leading to speculation that he’d been attacked or injured himself to get transferred. [...]

Deutsche’s net income also dropped by over 40 percent to €231 million in the second quarter, year-on-year - the lender is predicted to report a full-year loss for 2019. Deutsche shares fell 2.4 percent in response to the results. [...]

The US dollar will struggle to remain the top international currency in the coming decades as the rising power of Asian economies is set to undermine its leading position, Wall Street bank JPMorgan Chase has predicted. [...]

The growth rate of the Russian economy increased last year, while inflation remained low, the World Bank said in its 2019 World Economic Outlook. “Although economic sanctions tightened, Russia experienced relatively low and stable inflation and increased oil production. [...]

Iranian Foreign Minister Mohammad Javad Zarif previously noted that the EU mechanism for bilateral transactions with Tehran bypassing US sanctions could include other interested countries, such as Russia and Turkey. [...]

When traditionally stable institutions like Deutsche Bank find themselves in trouble, it’s a signal that the world’s financial system will face big problems down the road, legendary investor Jim Rogers has told RT. [...]

Millions of Americans are struggling under the weight of student loans, but the government would rather bomb Iran than fix it, the graduate who packed his bags for China to escape his own crippling college debt tells RT. [...]

Russia and China took another step away from the US dollar after the two countries agreed to develop bilateral trade using the ruble and the yuan. It was just one of the major deals reached after the presidents of the two countries, Vladimir Putin and Xi Jinping, held talks in Moscow on Wednesday. [...]

Renewed trade war fears are breathing life into the gold market, according to Phil Streible, senior market analyst at RJO Futures, who also pointed to growing investor fears over the possibility of a rate cut. “Potentially down the road, if equities slow down, and if the global economy slows down enough, you might see the Fed cut rates, that’s what’s breathing life right now into that gol [...]

After US President Donald Trump said on Sunday that the US will hike tariffs on goods imported from China, Wall Street will start the week with a sharp selloff, as investor optimism about the possible conclusion of a trade deal with China in the near future has faded. [...]

Moscow's sovereign gold stockpile jumped up to over 2,100 metric tonnes last year, with the country's status as a major gold producer allowing for reserves to be built up using domestically sourced bullion. [...]

The Russian currency has proven itself to be the most stable of all developing countries during recent volatility, according to the deputy head of the Central Bank of Russia. [...]