In Switzerland, a campaign is on to protect the country’s wealth by investing in gold — a lot of gold. In a test of their sense of financial security, the Swiss are being asked to vote on a proposal to make the central bank hold a fifth of its reserves in gold within five years. […]
ISIS plans to mint its own currency
ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday. Its aim is to stay away from the “tyrant’s financial system,” ISIS said in a statement. It said it would issue another statement to explain the new currency’s exchange rate, and where it can be found. The currency […]
Iran slams offer for easing gold sanctions
Iran criticized on Monday a reported plan by major powers to demand the closure of a uranium enrichment plant in return for an easing of sanctions on Tehran’s trade in gold and other precious metals, Iranian media reported. The Islamic Republic, which says its nuclear program is peaceful, started building the Fordow plant inside a […]
How Much Gold Does China Really Have?
It’s amazing that no one is talking about this. “China’s demand is robust” they’ll say. “China may overtake India as the top gold consumer” they’ll add. “Exports rise year over year” the chatter continues. But no one, and I mean no one, in the mainstream is calling a spade a spade. China is hoarding gold […]
New sanctions: Iran won’t be paid in cash for its oil
Ever since European seaports closed their gates to Iranian oil tankers last summer, Iran has looked to the East to keep its economy afloat. Countries such as China, India and South Korea — some of them critics of Western sanctions — have offered Iran a lifeline of reliable markets and much-needed dollars.
Lebanon’s Salameh : We are not worried about a bubble
Lebanese Central Bank Governor Riad Salameh discusses the exposure of the country’s banks to government debt as well as the latest efforts to insulate the lenders from a crisis in neighboring Syria. He spoke in an interview today at his office in Beirut. On economic growth: “The indicators are showing that the real growth could […]
Israel finds rare 2,200-year-old gold coin near Lebanon border
Archaeologists say they have uncovered the heaviest and most valuable gold coin ever found in Israel. The 2,200-year-old coin weighs an ounce (28 grams) and was found at the Tel Kedesh site near the Lebanon border on June 22,