Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

Christine Lagarde: 'The European Central Bank Cannot Go Bankrupt or Run Out of Money'In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank […]

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End of Western Union Remittance Service to Cuba a Boon for Crypto

End of Western Union Remittance Service to Cuba a Boon for CryptoAs new U.S. government measures that impose restrictions on remittances to Cuba becomes effective after November 22, Western Union, which has been operating in the island nation since 1999, will close shop. The new rule, which was published on October 27, gave Western Union 30 days to implement new restrictions. The new rule is likely […]

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Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in Borrowing Expected in Q4

Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in Borrowing Expected in Q4The Institute of International Finance (IIF) says global debt will soar to a record $277 trillion by the end of 2020 as governments and companies continue to spend in response to the COVID-19 pandemic. Already, the debt has ballooned by $15 trillion this year to $272 trillion through September. Governments from developed markets account for […]

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‘Control the Pandemic’ – Fed Chair Jerome Powell Predicts the Entry of a ‘Different Economy’

'Control the Pandemic' - Fed Chair Jerome Powell Predicts the Entry of a 'Different Economy'Federal Reserve Chair Jerome Powell told participants at the Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday that the economy will never be the same after Covid-19. According to Powell, the use of accelerated technology will change the way the global economy operates as his commentary was quite similar to the recent […]

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US Banks Face a Massive Commercial Real Estate Crisis Looming on the Horizon

US Banks Face a Massive Commercial Real Estate Crisis Looming on the HorizonFinancial incumbents may face a harsh reality soon, as a commercial real estate crisis has threatened the profits from America’s largest banks. A number of reports show that banks with a large amount of commercial real estate in their portfolios may see a significant fallout in the next few months. Just recently PWC’s real estate […]

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Printing $1.7 Trillion for Climate Change: How Joe Biden’s Administration Aims to Push the ‘Green New Deal’

In 2020, the U.S. Federal Reserve has injected an enormous amount of U.S. dollars to special interests in the banking sector in order to combat the economic effects stemming from the coronavirus outbreak. This week the central bank published its financial stability report and the Fed discussed addressing climate change for the first time. A […]

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Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances

Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital RemittancesAccording to a new report, the depreciation of some currencies against the U.S. dollar is contributing to the declining international remittances. After touching an all-time high of $548 billion in 2019, the World Bank report now projects remittances to drop 7.2% in 2020 to $508 billion and a further decline of 7.5% to $470 billion […]

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Gold Price Expected to Rally Despite Concerns About Lockdown 2.0

Gold Price Expected to Rally Despite Concerns About Lockdown 2.0Gold industry players say the inevitable printing of new money by the U.S. will lead to an increase in the circulating supply of fiat currency. This increase, in turn, will further dilute the value of U.S. currency and thus diminish its perceived status as the world’s foremost reserve currency. The gold industry players also add […]

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