Category: Current News
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Twelve Countries Abandon the US Dollar, Signaling a New Era in Global Trade
A significant shift in global finance is underway as twelve countries, primarily from the Commonwealth of Independent States (CIS), have officially abandoned the US dollar for trade, opting to conduct 85% of their cross-border transactions in local currencies. This movement, which gained momentum following US sanctions on Russia in 2022, reflects a growing desire among…
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BRICS Adds New Partner Countries: What It Means for the World
On January 1, 2025, BRICS expanded by welcoming nine new partner countries: Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. This expansion follows the admission of four new members in 2024 and is part of BRICS’ strategy to enhance its influence and promote economic cooperation among Global South nations. With these additions, BRICS…
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South Korea’s Largest Crypto Scam Exposes Risks of Digital Investments
South Korean police detained 215 people for arranging the country’s greatest cryptocurrency scam, totaling 320 billion won ($228.4 million). The suspected ringleader and their group offered 28 different types of virtual tokens, six listed on offshore platforms, to about 15,000 investors under false promises of substantial returns. Authorities declared the tokens worthless and found that…
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World Economy In Crisis: Hold On To Your Cash
Veteran investor Jim Rogers is warning that the next market sell-off will be the worst in his lifetime due to excessive global debt, advising investors to hold cash and consider buying silver. Rogers’ concerns are echoed by Warren Buffett’s Berkshire Hathaway, which has increased its cash holdings to nearly $277 billion by selling about half…
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The Global Domino Effect: How a U.S. Recession Could Topple Economies Worldwide
Concerns about a potential recession in the United States have triggered a global sell-off in stock markets, particularly impacting technology shares after a disappointing employment report revealed only 114,000 jobs were added last month, significantly below expectations. The Nasdaq index fell 2.4%, nearing correction territory, while European and Asian markets also experienced steep declines, with…
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Philippines Pilots Integration of National ID, E-Wallets: Are We On The Road To Central Bank Digital Currencies?
The Philippine Statistics Authority (PSA) and the Department of Information and Communications Technology (DICT) have partnered with GCash to pilot the National ID eVerify platform to enhance financial inclusion and streamline identity verification processes. This initiative will enable government agencies and private sector entities to securely authenticate customer identities, facilitating a faster and more efficient…
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Has the 2024 Banking Crisis Already Started?
The following article was written by Michael Snyder discusses the financial troubles facing New York Community Bank, which has seen its stock price plummet due to the deteriorating quality of commercial real estate loans [Also read this article for the mainstream coverage of this issue]. Snyder says that the bank’s situation reflects broader issues in…
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DTI, BSP Says E-Wallet Users Should Practice Cyber-Hygiene Proving SIM Card Registration Law Has Failed Its Purpose
In this November 20, 2023 article for Manila Bulletin, Ma. Joselie Garcia reports on the latest statement from the Department of Trade and Industry (DTI) and the Bangko Sentral ng Pilipinas (BSP) urging users to be careful in handling their e-wallet accounts. According to the article, the BSP is already offering financial literacy workshops, cyber…
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Australia’s Fifth Largest Bank Announces Digital-Only Transactions Starting 2024
Macquarie Bank, Australia’s fifth largest bank has announced that it will phase out all cash, cheque, and phone services from all its 80 branches starting January 2024. The report of this was published by Investing.Com last September 13, 2023. Editor’s Note: Make no mistake: this is the beginning of the digital currency system, and is…
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Newsweek Columnist Deconstructs Bidenomics. So What?
In an Opinion piece on September 8, 2023, Newsweek published an article by Josh Hammer entitled, “‘Bidenomics’ Gaslighting Reveals POTUS’s Impotence in Lead-Up to 2024 | Opinion”. Josh Hammer is Senior Editor-At-Large at Newsweek. Hammer argues that the benefits of Bidenomics is an illusion. “The president and his team intend to make so-called Bidenomics the focal point of…
