Tag Archives: Money

Belarus: Loans return, but interest rates double to 65%

Posted on by

“In addition to a 30% duty on the purchase of foreign currency imposed in December, the National Bank recommended banks not to issue loans to stabilise the situation on the financial market.  The measure was supposed to restrict the growth of money supply and increase the value of money. As a result, Belarusians have not been able to take loans from banks for a month.  Commercial bank began to issue loans again, but raised interest rates. The cheapest loan has an interest rate of 45%, the most expensive one – 82%.  Average interests rates are now from 60 to 65% against 25-30% in early December.”

http://charter97.org/en/news/2015/1/22/136361/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

CNN’s Morgan Spurlock: Living On Bitcoin

Posted on by

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Bitcoin: The People’s Money with Roger Ver and Jeffrey Tucker

Posted on by

“This is the first episode in a monthly series dedicated to Bitcoin.  We could hardly have better guests than Chief Liberty Officer of Liberty.me, Jeffrey Tucker, and Roger ‘Bitcoin Jesus’ Ver, investor in some of the most successful Bitcoin companies like Blockchain.info, BitPay, and Kraken. We will talk about Jeffrey’s latest book ‘Bit By Bit: How P2P Is Freeing the World’, businesses that Roger is involved in, their path to Bitcoin, and how it relates to the philosophy of liberty and the Austrian school of economics.”

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Inside the Chinese Bitcoin Mine That’s Making $1.5M a Month

Posted on by

“The mine we visited is just one of six sites owned by a secretive group of four people, part of a colossal mining operation that, as of our visit, cumulatively generated 4,050 bitcoins a month, equivalent to a monthly gross of $1.5 million.  Despite its dystopian appearance, the group’s six mining farms encompass eight petahashes per second of computing power, whose brute force, as of October, accounted for 3 percent of the entire Bitcoin network.  If you’ve bought or sold or conducted any Bitcoin transaction recently, these are some of the folks you have to thank.  Strangely, the mine’s workers actually live inside the facility itself, returning home just four or five days a month.”

http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Negative Yields on Eurozone Sovereign Bonds Becoming New Normal

Posted on by

“On Wednesday, Finland became the first nation in the region to pay a negative yield on five-year debt sold at auction, suggesting that investors are unperturbed by the country’s weak economic expansion and its dependence on troubled Eastern Europe.  German government bonds offer negative yields on maturities up to six years, according to Tradeweb, as do bonds issued by Denmark. Five-year government debt carries a negative yield in the Netherlands, Austria, Sweden and Finland, and four-year government debt in France and Belgium.  In Switzerland, bonds with a maturity of up to a staggering 13 years offer less than zero in terms of yield.”

http://www.wsj.com/articles/finland-pays-negative-yield-on-five-year-debt-1423057657

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The World’s Central Banks Blink

Posted on by

“More than six years after the onset of the Global Financial Crisis, central banks are being forced to fight a sudden battle against disinflation amid the ongoing silent war against deflation.  Over the past couple of weeks, a number of central banks have shifted to a dovish stance on the future direction of interest rates, if not outright monetary easing.  Although the slowing global economy is the primary factor behind their about-face in policymaking, the collapse in crude oil prices along with anticipation of other central banks’ future moves is what’s driven their timing.  Many of these moves have caught a lot of people, including traders, economists and other financial experts, by surprise.”

http://www.investingdaily.com/22052/the-worlds-central-banks-blink-2/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Iceland capital controls to be lifted this year

Posted on by

“Initially the controls were only meant to last for a relatively short period of time but have now been in place for over six years.  A large amount of capital, up to 900 billion Icelandic kronur (ISK) according to a report from the finance ministry, is likely to leave the country, since around 95 percent of the banks creditors are foreign.  According to [a newspaper] there has been talk about somehow forcing the exchange of offshore currency and implementing an exit tax of around 35 percent on all transfers out of the country.  Although it is not yet clear what measures will be taken, the prime minister has promised that it will not involve further financial burden for Icelanders, many of whom lost their life savings.”

https://euobserver.com/beyond-brussels/127152

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Soros’ Miraculous Escape From Being Crushed By Swiss National Bank

Posted on by

“Soros Fund Management, which manages more than $25 billion for investor George Soros, was betting against the Swiss franc in the fall before it removed those bearish positions.  Why did the Soros so conveniently take off a bet which, with leverage, could have resulted in massive losses for his hedge fund? The WSJ says he did so after ‘viewing the risk as too high relative to potential gains, said people close to the matter.’ Well as long as ‘people close’ think Soros did not have input directly from the Swiss central bank, or perhaps the occasional hint from Kashya Hildebrand, then one can’t help but marvel at the octogenarian’s impeccable timing.”

http://www.zerohedge.com/news/2015-01-23/how-swiss-national-bank-almost-crushed-george-soros

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Saxo Bank faces £70m losses after Swiss currency turmoil

Posted on by

“Just over a week ago, the Swiss National Bank shocked markets by announcing that, with immediate effect, it would no longer fix its currency – the franc – against the euro.  That led to a surge in the value of the franc against the euro, at one point by 30%.  It also caught some currency brokers by surprise – many of whose customers could not afford to settle their accounts.  The broker Alpari UK, which sponsors West Ham United football club, collapsed into administration as a result, while IG Index said its potential losses were £30m.  Now the Danish-controlled Saxo bank said that its losses could reach about £70m.”

http://www.bbc.co.uk/news/business-30960558

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Bank of Japan Cuts Inflation Forecast, Maintains Record Stimulus

Posted on by

“Japan’s central bank cut its inflation forecast and kept its unprecedented monetary easing unchanged as tumbling oil prices handicap efforts to reflate the world’s third-biggest economy.  The Bank of Japan will increase the monetary base at an annual pace of 80 trillion yen ($674 billion), it said in a statement Wednesday in Tokyo, as forecast by all 33 economists surveyed by Bloomberg News. The BOJ lowered its core inflation projection to 1 percent for the fiscal year starting in April, from 1.7 percent.  Governor Haruhiko Kuroda said the drop in oil could delay inflation reaching the BOJ’s 2 percent target next fiscal year while economists see a risk of prices falling briefly this summer.”

http://www.bloomberg.com/news/2015-01-21/bank-of-japan-cuts-price-forecast-maintains-record-stimulus.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet