When the European Union, or its successor, the European Economic Community, was created, it had the most noble of goals in mind. To end centuries of war and bring about economic prosperity for every country within the Union. And on the whole the European Union has largely succeeded in achieving many of its main objectives. Still, if there is one black spot on the European Union’s resume, and that is the creation of the...
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In currency trading this afternoon, markets valued the US dollar at just over 100 yen. The level was the highest that the US dollar has reached against the yen in four years. The last time the dollar was worth above 100 yen was in April of 2009, when the economic crisis seemed at its darkest point. US Dollar Trading On this morning’s aftermppm, the dollar traded at 100.46 yen, according to data accumulated by...
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Stanley Druckenmiller was a managing director at George Soros’ Soros Fund Management, where he managed $22 billion for the Quantum Fund. He founded Duquesne Asset Management and ran investments until he closed the firm in 2010. Currently, Druckenmiller manages his family fortune. At the Ira Sohn conference, he reiterated his disagreement with the U.S. Federal Reserve loose monetary policy and its resulting subsidy of asset prices and risk premiums. However, Druckenmiller does not see...
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So far most governments have been taking Japanese efforts to devalue their currency in stride. With the yen sliding to unprecedented lows, however, the Obama administration has warned the Japanese not to hold down the value of the yen through artificial means. Meanwhile the U.S. Treasury has slammed China for holding down the value of its currency. Could the increasing rhetoric point to a future currency war? Some countries try to deflate the value...
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Bitcoin ATM co-founder Jeff Berwick spoke with FOX Business Network’s (FBN) Stuart Varney about how Bitcoin functions as digital currency. Berwick said Bitcoin is “really catching on because people are getting a little tired of these central banks.” He went on to explain how Bitcoin works, saying, “This Bitcoin currency is a voluntary decentralized currency, anonymous. It can’t be shut down by anyone, there are no central servers.” Video and excerpts below: Watch the latest...
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Bitcoin is the first currency of its kind to show true potential to become much more than just an Internet sensation (which it definitely is). Bitcoin is developing into a major player in the world economy at large. Here are some of the facts and figures that show how bitcoins (BTC) will give dollars and yen a run for their money. Check out this infograph to learn more about the new digital currency bitcoin....
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Bridgewater Associates LP, the investment management firm established and managed by billionaire investor, Ray Dalio is shorting the yen currency amid the changes in the balance of payment circumstances and the aggressive monetary policy from the Bank of Japan, according to a report of Kelly Bitt from Bloomberg. Bob Prince, co-chief investment officer of Bridgewater Associates said, “We’re now short the yen, largely related to the change in their balance of payment circumstances and,...
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Marc Faber, publisher of the Gloom, Doom & Boom Report, told Bloomberg TV’s Betty Liu on “In the Loop” today that “regardless of what the markets do, near-term, a correction is overdue” on the S&P. Faber also said: “The only thing I know is one day the markets will punish the interventionists, the Keynesians and the monetary policy that the Federal Reserve and ECB has enforced because the markets will be more powerful one...
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![George Soros At Davos Warns Of Currency War [VIDEO]](http://c7.valuewalk.com/wp-content/uploads/2012/10/George-Soros.jpg)
George Soros, provides perspective on Europe’s banking crisis, U.S. debt and when he expects to see a spike in interest rates, with CNBC’s Maria Bartiromo. The euro is transforming the European Union into something very different, he says. He also warns of a coming currency war. Video and computer generated transcript below: he, of course, a mysterious and powerful billionaire who you no known for supporting liberal causes but he dwand notoriety for leading a run on the...
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While much of the economic news coming out of Asia has been positive in recent weeks, with China and S.E. Asian economies looking poised for strong and stable growth, South Korea and Japan have both taken a hit. At the heart of the development is the increasing strength of the Korean won and the Japanese yen. Both South Korea and Japan heavily rely on exports and their strong currencies are starting to dampen their...
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“Risk On” Mode It is pretty obvious that there is a lot of liquidity in the system, with the Fed`s loose monetary policy, extremely low interest rates, and traders in all out “Risk On” mode with regard to their two favorite funding currency crosses in the EUR/USD and USD/JPY. Traders are banging every asset class except for the Metals into the close, pushing asset classes up overnight with the futures contracts on a...
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