Currencies
Russia’s Finance Minister Anton Siluanov has revealed that after the global crude oil meltdown, Kremlin is ready for reality. As one of the world’s largest producers of crude oil, Russia was badly hit when the oil prices plunged in 2014. Russian ruble lost more than 120% against the American dollar in July 2014 alone. And […]
... written on Oct 16 2017As anticipated, Angela Merkel’s CDU-CSU (Christian Democratic Union-Christian Social Union) alliance won the German election on Sunday. Although she is set to be re-elected as German chancellor for a 4th term in office, the woman who was blamed for welcoming over 1-million refugees – mostly Muslims – into the country has very little to celebrate. […]
... written on Sep 25 2017Something is terribly wrong with the way economic sanctions are being slapped on North Korea. When it comes to dealing with North Korea’s nuclear weapons program, international community especially the United Nations and the United States hope sanctions are a useful tool to bring Kim Jong-un to his knees. However, the reverse is true and now the world is […]
... written on Sep 19 2017Over the centuries, the Empire of China has risen only to be invaded, humiliated, disintegrated and demolished, before rising again. And like many past – and ancient – dynasties and kingdoms, China today is experiencing the same cycle all over again – the rise after the humiliating fall of its dominance in the world economy. […]
... written on Sep 12 2017Throughout the first 10 months of fiscal 2017 (Oct 2016 to July 2017), the U.S. federal government collected record amounts of taxes – both individual income taxes and payroll taxes – to the tune of US$2.288 trillion. They collected US$1,312,691,000,000 in individual income taxes and US$976,278,000,000 in Social Security and other payroll taxes. However, […]
... written on Aug 16 2017This country is so screwed up that it couldn’t even pay US$600 million of debt to IPIC (International Petroleum Investment Company), Abu Dhabi’s US$80 billion sovereign-wealth fund. After the deadline on Tuesday, IPIC has given 1MDB (1Malaysia Development Berhad), a fund set up by Prime Minister Najib Razak himself in 2009, five more days to make […]
... written on Aug 02 2017He had been condemned by Mahathir Mohamad, then-Prime Minister of Malaysia, as a notorious currency speculator. He lost about US$1 billion in the financial market betting against Donald Trump. The 86-year-old investor also lost millions – probably billions – betting against Brexit. Perhaps the billionaire should go back into retirement. To George Soros, however, […]
... written on Jul 11 2017Venezuela is right now in utter bankruptcy. Former Venezuelan President Hugo Chavez’s vision of socialism – sharing of wealth – didn’t work. It’s rather strange that a country that controls the world’s largest oil reserve couldn’t feed its own people so much so that the Venezuela people have turned to eating pets and trash. About […]
... written on Jun 02 2017Do you know that May 22 is also known as “Bitcoin Pizza Day”? It was the date where Laszlo Hanyecz, a programmer, successfully traded his 10,000 units of digital currency bitcoin (BTC) for 2 Papa John’s pizzas. He posted on a bitcoin forum page – “I just want to report that I successfully traded 10,000 […]
... written on May 23 2017When you login on Monday for work, and your computer happens to be running on older versions Microsoft’s Windows such as Windows XP, chances are you could be staring at a screen screaming “pay me money to get your data back”. Call it blackmail, extortion or anything you like, but there’s no way you can […]
... written on May 15 2017
