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Soros-Linked Billionaire Buys Up Gold

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A billionaire hedge fund manager linked to George Soros bought up gold shares after multiple financial experts warned a stock market crash is coming. Stanley Druckenmiller, who runs Duquesne Capital after previously working for Soros, now owns 2.88 million shares of SPDR Gold Trust, making it his largest single holding and long position. That means if the price of gold goes up, Druckenmiller profits... 

EU approves Greece third bailout

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Eurozone finance ministers have finally approved Greece’s third debt bailout after Greek parliament endorsed the rescue package following a tough all-night debate. “New loans of up to €86 billion will be made available over the next three years to Greece,” the European Commission said in a statement on Friday after six hours of talks in the Belgian capital Brussels to nail down the painful... 

John Kerry says US Dollar may soon Collapse as World Reserve Currency

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Washington may lose the support of the EU in Ukraine, should the States refuses to implement the nuclear deal with Iran. This may also collapse the US dollar as a reserve currency, Secretary of State John Kerry said in New York as he was promoting the deal with Iran. “If Congress rejects the Iran nuclear deal, “that is a recipe, very quickly, my friends, businesspeople here, for the American... 

Foreigners claiming NHS healthcare in home states funded by UK taxpayers

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Lax legislation allows foreigners who have never paid taxes in Britain to access medical care in their own countries at the expense of the National Health Service (NHS), an investigation has found. The Daily Mail investigation, which was published on Monday, revealed that foreign nationals who claim to be living in Britain are obtaining free European Health Insurance Cards (EHIC) and charging the... 

Donald Trump’s Plan to Significantly Reduce Income Taxes

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Frontrunner Donald Trump’s plan to radically reduce income taxes will bolster his popularity with the American people. In his book, “Time to Get Tough: Making America #1 Again,” published in 2011, and updated for the 2016 campaign, Trump put forward a plan to transform the government’s expropriation of income and wealth. Specifically: $30,000 per year will pay 1 percent in federal income... 

Russia Wants Alaska Back

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There is still a lot of controversy about Alaska’s cession to the United States by Russian Emperor Alexander II; some experts call the treaty in question, suggesting that Alaska may hypothetically be returned to Russia. The real story of the cession of the Russian Possessions in North America — Alaska — by “his Majesty the Emperor of all the Russians” Alexander II to the United... 

70% Americans claim US economy is 'negative'

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Bloomberg’s Consumer Comfort index in the US shows a record-low level of the Americans being content with the state of economy. According to the report, 70% of the US residents estimate their country’s state of economy as “negative”. The number of those being sure that the US economy is “excellent” also amazes. That is only 1%. The rest of 29% believe that the economy... 

Shell to lay off 6500 jobs amid price slump

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Royal Dutch Shell has announced plans to lay off 6,500 jobs this year due to global decline in oil prices. While announcing a 35% decrease in its profit, a statement from the company says it is intending to slash operating costs for 2015 by 10%. The London-listed oil firm said it may force to cut more jobs next year warning that lower oil prices could continue for several years. “We’re taking... 

Athens Facing Ruin as IMF Stands By to Rescue Greek Bailout

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The United States is reported to be working with the International Monetary Fund (IMF) on a backup plan to rescue the Greek economy as economists throughout the world queue up to criticize the latest bailout plan as totally unworkable. The sheer folly of the latest bailout plan for Greece was summed up last week by Finland’s Minister for Foreign Affairs Timo Soini who said that, in agreeing... 

Texas sets its own gold-backed bank

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Texas is going to launch its own gold-backed bank. The law on Texas Bullion Depository operation has been already signed by Governor Greg Abbott. Now the State representatives can trade, and make any operations in precious metals. The measure is a real challenge to the Federal Reserve System. About $1 billion of Texas gold will be repatriated from New York. “With the passage of this bill, the... 

China's Economy Collapsing

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Banks made an additional 1.28 trillion yuan worth of loans to China in June. Things are not looking for for China. It seems like Beijing has averted a crisis as far as their stock markets are concerned with some heavy-handed intervention. But their corporate debt has already reached $ 16.1 trillion and is still rising. Their corporate debt is currently at 160% of their GDP and that is twice as much... 

Barclays to Cut 30,000 Jobs

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Barclays has reportedly announced plans to cut more than 30,000 jobs within two years, in a move that comes just two weeks after the bank’s chief executive Antony Jenkins was fired. More than 30,000 employees of Barclays, the seventh-largest bank in the world in terms of managed assets, will be laid off within the next two years, in a development that comes amid the bank’s efforts to speed... 

China reveals gold reserves after 6 years

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China has ended six years of concealing its gold reserves, announcing a 57% rise in its hoard which puts it in the top five with the largest stash of the precious metal. According to the People’s Bank of China, bullion assets totaled 3.31 million troy ounces or about 1,658 metric tons at the end of the June. The US has the biggest reserves put by the World Gold Council at 8,133.5 tons followed by... 

Greece makes €6.25 billion payment to ECB, IMF, reopens banks

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The Greek Finance Ministry says it is has started payment of €6.8 billion to creditors after last week’s €86 billion bailout deal was adopted. Banks in Greece have reopened three weeks after the introduction of capital controls. The payments announced on Monday include money owed to the ECB, the IMF and Greece’s central bank, a Finance Ministry official told Bloomberg, who preferred to stay... 

Varoufakis says new Greek bailout doomed

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Former Greek Finance Minister Yanis Varoufakis has warned that the economic reforms from Greece’s debt holders are doomed to fail. The assessment comes as PM Alexis Tsipras has reshuffled his cabinet in efforts to secure a third bailout package. The EU is preparing to start talks with Athens on a third bailout which could reach €86 billion ($93 billion), but the reform program laid down by Brussels... 
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