Mainstream News

Jim Rogers Is Buying Gold Coins From North Korea

"Mr. Rogers, who started the Quantum Fund with George Soros in the 1970s, had said in a previous interview: 'Coins and stamps are the only way I can invest in North Korea.' By invest in, Mr. Rogers means he wants to wager against the long-term prospects for the isolated, economically struggling country. He views his purchase as a bet on the collapse of North Korea. 'At some point down the line, North Korea will cease existing as a country. Then the value of the coins will go up,' Mr. Rogers said. The Journal reports that a total of 13 one-ounce coins were purchased by an assistant of Mr. Rogers at a coin fair in Singapore. The price was around $2,014 a piece." Continue reading →

Continue ReadingJim Rogers Is Buying Gold Coins From North Korea

French Socialist budget minister charged with hiding money in UBS account

"France's former budget minister Jérôme Cahuzac confessed on Tuesday to having hidden €600,000 ($770,000) in foreign bank accounts for the last 20 years, reversing repeated denials weeks after a probe was launched into his alleged Swiss account. The minister, who faces five years in prison and a fine of up to €375,000 said he had been 'caught up in a spiral of lies and lost his way.' Cahuzac had been leading the government's charge against wealthy French citizens evading taxes through foreign accounts." Continue reading →

Continue ReadingFrench Socialist budget minister charged with hiding money in UBS account

Americans fall out of favour with Swiss banks

"Already battle-scarred from the hard lessons of recent years, Swiss banks are taking a very cautious approach when it comes to the introduction of FATCA. The US law requires banks around the world to report information on American account holders to Uncle Sam. There are also concerns that FATCA’s collateral damage could extend beyond the home front into the business world. If an American owns more than 10 percent of a company, it is reportable to the IRS. The worry is that this rule may make it harder for US entrepreneurs to find business and banking partners, shutting them out of attractive investment opportunities." Continue reading →

Continue ReadingAmericans fall out of favour with Swiss banks

Bank of Cyprus savers could lose up to 60%

"Big savers in Cyprus’s largest bank face losses of up to 60 percent, far greater than originally feared under the island’s controversial EU-led bailout plan, officials said on Saturday. Cyprus meanwhile launched an investigation into a list published in Greek newspapers of Cypriot politicians who allegedly had loans written off by two banks at the heart of the financial meltdown. Officials said Bank of Cyprus savers will see at least 37.5 percent of funds over 100,000 euros ($128,000) turned into shares, but a further 22.5 percent will be held until authorities know they can satisfy the terms of the bailout." Continue reading →

Continue ReadingBank of Cyprus savers could lose up to 60%

Analyst: All Of My Clients Think There’s A Bitcoin Bubble, Despite ‘Perfect Storm’

"Where is all of the momentum behind the Bitcoin trade coming from? 1. An increasingly tech-savvy base of savers all around the world don’t think it is any stranger to trust an open-source piece of software than it is to put your money in a commercial bank. 2. Lots of people around the world are uncomfortable with central bank policies, which seem to give money away to a global banking system which remains fundamentally broken. 3. Worries over heavy deposit taxes in various European countries (Spain, Greece, and even Italy), courtesy of the resolution to the Cypriot banking crisis 4. Some clarification of U.S. regulations, bringing Bitcoin long-needed legitimacy..." Continue reading →

Continue ReadingAnalyst: All Of My Clients Think There’s A Bitcoin Bubble, Despite ‘Perfect Storm’

Western Union Eyes Digital Currency Services

"The company, once known for telegrams, is now investigating new types of digital transactions and investing in analytics to help the company adjust pricing for its electronic money transfer services. The company is looking at the use of digital currencies like Bitcoin as well as the role Western Union can play in other online transactions, from Internet telephony to video gaming–a far cry from its current business offerings of money transfer, bill pay and prepaid cards." Continue reading →

Continue ReadingWestern Union Eyes Digital Currency Services

Iranian dairy company unveils five-ton ice cream tub to break world record

"An Iranian dairy company unveiled a five-ton tub of chocolate ice cream in Tehran on Monday in a bid to make it into the Guinness Book of World Records. The company, Choopan, put the giant tub, which is more than two metres (6.5 feet) wide and 1.60 metres (5.2 feet) tall on display at a ski resort in the foothills of Tochal, just north of the capital, where over 10,000 people came to see it. Representatives of the Guinness Book of World Records did witness the record attempt in Tehran, but could not speak to the media for 'security reasons,' the company's CEO said. The current record is held by American ice cream chain Baskin-Robbins." Continue reading →

Continue ReadingIranian dairy company unveils five-ton ice cream tub to break world record

Gold trade booms in war-torn Syria

"In Syria’s northern metropolis, as across the Middle East, those who can afford to have traditionally invested in jewellery for their womenfolk, especially gold, to ward against a rainy day. As daily clashes between troops and rebels fighting to oust President Bashar al-Assad have brought a devastating halt to all normal economic activity, the trade in precious metals has boomed as people struggle to make ends meet. Two years of devastating conflict have sent the Syrian pound into freefall and, for those with any money, gold is a popular refuge to maintain the value of their savings." Continue reading →

Continue ReadingGold trade booms in war-torn Syria

China mobilizing troops, jets near N. Korean border, US officials say

"China has placed military forces on heightened alert in the northeastern part of the country as tensions mount on the Korean peninsula following recent threats by Pyongyang to attack, U.S. officials said. Reports reveal the Chinese People's Liberation Army (PLA) recently increased its military posture in response to the heightened tensions, specifically North Korea's declaration of a 'state of war' and threats to conduct missile attacks against the United States and South Korea. According to the officials, the PLA has stepped up military mobilization in the border region with North Korea since mid-March, including troop movements and warplane activity." Continue reading →

Continue ReadingChina mobilizing troops, jets near N. Korean border, US officials say

U.S. will ‘respond’ to North Korea’s provocations, says Chuck Hagel

"Defense Secretary Chuck Hagel said Thursday that the United States was 'prepared to deal with any eventuality' from North Korea and warned that danger from Pyongyang was on the rise. 'We will unequivocally defend — we are unequivocally committed — to that alliance with South Korea as well as our other allies in that region of the world,' Hagel told reporters. 'We will be prepared...to deal with any eventuality,' Hagel said after the United States flew two nuclear-capable B-2 stealth bombers on a mission over South Korea. 'We must make clear that these provocations by the North are taken by us very seriously and we’ll respond to that,' Hagel said. Continue reading →

Continue ReadingU.S. will ‘respond’ to North Korea’s provocations, says Chuck Hagel