By Simon Black It was back in May 2010 that the very first ‘real world’ Bitcoin transaction was conducted: 10,000 bitcoins traded for two Papa John’s pizzas. Today that transaction would be worth nearly $4 million, probably making those the most expensive pizzas in the history of the world. But back then it was considered revolutionary … Continue reading
By Brendan Brown From reading the commentaries you might have imagined that the process of a currency winning international reserve status depends on getting the IMF seal of approval. At least that seems to be the story with China. So, strange to tell, the great international monies of the past evolved either before the IMF was … Continue reading
By Jeff Desjardins, Visual Capitalist The share of electricity generated by different energy sources has changed significantly in Europe over the last two decades. The major story here is the decline in consumption of fossil fuels. More specifically, the combined share of petroleum products and solid fuels (meaning coal or shale oil) has fallen from 65.1% of … Continue reading
By Eugen von Böhm-Bawerk According to Belgian-American economist, Robert Triffin the country whose currency have become the global reserve currency must be willing to supply enough liquidity to satisfy global needs. This obviously raises an interesting question for the Federal Reserve with regard to their monetary policy execution. On one hand, they need to consider the … Continue reading
By Jeff Desjardins, Visual Capitalist The European Union has always been primarily a political project. The idea of the union was to take peoples that had long and complicated histories, and to place them in a situation where they must work together and shed their differences in order to achieve success. From the political angle, it can … Continue reading
By Eugen von Böhm-Bawerk According to the proposed budget submitted by the current ‘blue-blue’ government the Norwegian deficit will reach another record high in 2016. Mainland taxes are expected to bring in 1,008 billion NOKs, while expenditures are estimated at 1,215 billion NOKs. In other words, 2016 will be another year of record mainland deficit which … Continue reading
China’s yuan has emerged to become the fourth most-used currency in the world for cross-border payments in August, according to a report published by global transaction services organization SWIFT (The Society for Worldwide Interbank Financial Telecommunication). For the first time ever, the yuan has moved ahead of the Japanese yen, and rose to its highest ranking ever, despite devaluations from its Central Bank. There was … Continue reading
By James Eugene We all know the story by now. Both emerging and frontier markets have taken quite a battering over the past few months and have contributed to an $11 trillion hemorrhaging of fund from global markets, as well as a collapse in Asian currencies, in the third quarter of 2015. But buried beneath the … Continue reading
By Michael Snyder Is something about to happen in Germany that will shake the entire world? According to disturbing new intel that I have received, a major financial event in Germany could be imminent. Now when I say imminent, I do not mean to suggest that it will happen tomorrow. But I do believe that … Continue reading
By Nick Dearden I’ve just had sight of the latest privatisation plan for Greece. It’s been issued by something called the Hellenic Republic Asset Development Fund – the vehicle supervised by the European institutions, which has been tasked with selling off an eye-watering €50 billion of Greece’s ‘valuable assets’. The fund was a real sticking point … Continue reading