Today’s AM fix was USD 1,580.50, EUR 1,213.25 and GBP 1,054.02 per ounce.
Yesterday’s AM fix was USD 1,574.00, EUR 1,207.98 and GBP 1,043.42 per ounce.
Silver is trading at $28.94/oz, €22.33/oz and £19.37/oz. Platinum is trading at $1,602.50/oz, palladium at $746.00/oz and rhodium at $1,200/oz.
Gold climbed $8.40 or 0.53% yesterday in New York and closed at $1,583.40/oz. Silver finished with a gain of 1.33%.
Gold edged lower today and sentiment remains poor [...]
by GoldCore Gold Bullion
Russia , Turkey, Ukraine Buy Gold But Bullion Tiny Part Of FX Reserves
Today’s AM fix was USD 1,663.50, EUR 1,325.18 and GBP 1,053.52 per ounce.
Yesterday the London Bullion Market was closed for a national holiday.
Friday’s AM fix was USD 1,666.50, EUR 1,329.16 and GBP 1,051.88 per ounce.
Gold fell $5.90 or 0.35% in New York on Friday and closed at $1,663.90. Silver climbed to $31.241 then retreated but [...]
by Carl Herman
Using data from the BIS, IMF, World Bank, and governments, former Chief Economist at McKinsey, James Henry, reports the 1% have deposited $21 trillion to $32 trillion in tax havens to evade taxes. Related, theFederal Reserve reports the US top seven banks have over $10 trillion in assets recorded in over 14,000 created “subsidiaries” to avoid taxes.
The 1% hide more than total annual economic output of the US and Japan combined. This is [...]
July 23, 2012
Major banks and the financial global elite are now confirmed to have as much as $32 trillion in hidden assets stashed away in offshore accounts that are subject to little or no taxation. As a result, around $280 billion is estimated to be lost in tax revenues. In other words, the multi-trillion dollar banks and elite families are avoiding any taxation while forcing United States citizens to foot the bill. [...]
WASHINGTON (MarketWatch) — The finance minister of Canada and a top official of the European Central Bank clashed in public Thursday over whether the euro zone has done enough to reduce the risk of another round of crisis.
The dispute started during a session on global growth sponsored by the Bertelsmann Foundation on the sideline of the IMF/World Bank spring meeting when Jim Flaherty, the finance minister of Canada, said that [...]
In a Financial Times column published today, Goldman Sachs Chairman Asset Management Chairman Jim O’Neill argues that Europe—and not Europeans—needs a stronger voice at the international Monetary Fund.
His appeal comes ahead of joint IMF-World Bank meetings that will begin this Friday in Washington, DC.
O’Neill argues that representatives of specific European countries dominate IMF discussions rather than officials who back centralized European objectives. A recent proposal would diminish Western Europe’s power at IMF meetings [...]
Global markets slide as IMF announces that it expects a eurozone recession and cuts its world growth outlook to 3.3pc for 2012, down from 4pc in September.
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IMF boss Christine Lagarde says a Greek bankruptcy is “inconceivable”, but the fund warned that it expects a eurozone recession. Photo: EPA/AP
• IMF cuts world growth forecast, warns of European recession
• UK total debt rises past £1 trillion for the first time
• Banks ‘will not take [...]
Italy injects massive $7.1 billion spending spree boost to its economy as stimulus:
The Italian government has approved a controversial series of reforms designed to boost its ailing economy.
Measures include allowing more taxi licences and permitting pharmacists to give discounts on some medicines.
The government’s aim is to end restrictive practices and increase competition, but critics say small businesses will be harmed.
Earlier, Italy unveiled a 5.5bn euro ($7.1bn; £4.57bn) package [...]
IMF chief Christine Lagarde warned Tuesday that the world economy is at a “very dangerous juncture,” speaking of the potential impact on poorer nations during her first visit to Africa as head of the fund.
The International Monetary Fund managing director spoke of a crisis of confidence with high unemployment and slowing global growth.
“Currently the world economy stands at a very dangerous juncture,” Lagarde told a roundtable on Africa’s economic future in the Nigerian city of Lagos.
She said the [...]
By Harry Papachristou
ATHENS/WASHINGTON | Wed Sep 21, 2011 10:42am EDT
(Reuters) - Greece was set to outline more austerity measures on Wednesday to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe’s sovereign debt crisis risks tearing a giant hole in banks’ capital.
The cabinet in Athens was meeting to consider major public sector layoffs, pay and pension cuts and [...]
Dominique Strauss-Kahn was censured for an “error of judgement” over a 2008 affair
The head of the International Monetary Fund, Dominique Strauss-Kahn, has been charged by New York police over an alleged sex attack on a hotel maid.
Mr Strauss-Kahn, 62, was taken off an Air France plane at JFK airport just minutes before it left for Paris.
Police say he faces three charges, including attempted rape. His lawyers [...]
Fleeing the Dollar Flood
The world tries to protect itself from U.S. monetary policy.
Members of the International Monetary Fund emerged from their huddle in Washington last weekend resolved to keep every option open to slow the flood of dollars pouring into their countries, including capital controls. That’s a dangerous game, given the need for investment to drive economic development. But it’s also increasingly typical of the [...]
by David DeGraw from Amped Status
Guest Post: Analysis of the Global Insurrection Against Neo-Liberal Economic Domination and the Coming American Rebellion â€“ We Are Egypt [Revolution Roundup #3]
If you think whatâ€™s happening in Egypt wonâ€™t happen within the United States, youâ€™ve been watching too much TV. The statistics speak for themselves.
In previous Revolution Roundups, before we were knocked offline, we featured mass protests by the [...]
WASHINGTON â€” Global finance leaders failed Saturday to resolve deep differences that threaten the outbreak of a full-blown currency war.
Various nations are seeking to devalue their currencies as a way to boost exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises projectionist barriers [...]