LATEST NEWS: Russia’s economic crisis could easily end in yet another sovereign default

It was a lesson that Norman Lamont learnt the hard way when he was Chancellor of the Exchequer in 1992. You can’t buck the markets when they really turn against you. Back in the day, sterling was part of the Exchange Rate Mechanism, following a disastrous decision by John Major to enter the economically illiterate […]

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LATEST NEWS: Meet Your Newest Legislator: Citigroup

Citigroup is the Wall Street mega bank that forced the repeal of the Glass-Steagall Act in 1999; blew itself up as a result of the repeal in 2008; was propped back up with the largest taxpayer bailout in the history of the world even though it was insolvent and didn’t qualify for a bailout; has […]

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LATEST NEWS: Commodity Trading Giant Exits Physical Gold Due To "Lack Of Physical With A Documented Origin"

Back in March, otherwise very under-the-radar Swiss commodities trading giant Gunvor [10] and the fifth largest oil trader in the world, made headlines in the press when one of its then-Russian owners, billionaire Gennady Timchenko (estimated net worth of $8.5 billion), sold his entire 44% stake in the company to his partner in the firm, […]

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LATEST NEWS: Savings accounts are at risk as long as JP Morgan CEO gets everything he wants

If you want to understand what’s wrong with the US financial system, start by asking this question: why does Jamie Dimon always get his way? Dimon is the charismatic chief executive of the nation’s biggest bank, JP Morgan. JP Morgan has $2.5tn in assets and holds more than 10% of all the savings deposits in […]

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LATEST NEWS: We Just Witnessed The Worst Week For Global Financial Markets In 3 Years

Is this the start of the next major financial crisis?  The nightmarish collapse of the price of oil is creating panic in financial markets all over the planet.  On June 16th, U.S. oil was trading at a price of $107.52.  Since then, it has fallen by almost 50 dollars in less than 6 months. continue […]

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LATEST NEWS: A Greek island – yours for the price of a London flat

Fed up with Britain’s icy blasts and soaring house prices? Then why not bask in the sun and paddle the azure seas from the shores of your own Greek island. You may have to share living space with goats, but with more than 20 Greek islands for sale, Brits can live out their Mamma Mia! […]

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LATEST NEWS: Gold Prices Manipulated for Past Two Years?

Since the beginning of 2013, gold’s price action has been irrational. The fundamentals are getting better for gold in respect to demand and supply, but we see sudden, wild swings, often to the downside, on no news and for no apparent reason. Those who closely follow precious metal prices will agree with me on this: […]

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LATEST NEWS:Gold ETF Buyers Return as Investors Take Cover From Equities

As a rout in energy prices spreads to global equities, investors are returning to gold to take cover. Assets in the SPDR Gold Trust, the world’s largest exchange-traded product backed by the metal, rose yesterday at the fastest pace since July. The holdings are up almost 1 percent in December, snapping four straight months of […]

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LATEST NEWS: Barclays 'may have automated currency rigging'

Barclays and Deutsche Bank may have programmed automated trading platforms to systematically rig the currency markets, a US regulator has alleged. New York’s Department of Financial Services (DFS), led by Benjamin Lawsky, has uncovered evidence suggesting the banks may have developed algorithms to manipulate foreign exchange markets, according to multiple reports. continue reading at telegraph.co.uk

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LATEST NEWS: UN set to create framework for global bankruptcy process in wake of Argentina debt crisis

The United Nations is set to formally begin negotiations to create a global bankruptcy process after Argentina’s long-running case with the so-called “vulture funds” prompted international authorities tocreate a new system. The international body voted 128 to 16 in favour of a resolution to formally begin negotiations tocreate a global bankruptcy process. In September, the […]

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