Global economy

US unemployment rises in another indication of weak economy

US unemployment rises in another indication of weak economy

The US unemployment rate is on the rise again, with 12,3 million Americans with no job even according to the official statistics, bringing the unemployment rate to 7.9 percent. The unemployment rate rose from 7.8 in December to 7.9 percent in January, leaving 100,000 more Americans unemployed , according to the US Bureau of Labor […]

US banks shaken by biggest fund withdrawals since 9/11

US banks shaken by biggest fund withdrawals since 9/11

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system has not seen such a massive fund outflow since 9/11 attacks. The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the […]

Central banking with ‘other people’s gold’: A $368bn treasure trove in Lower Manhattan

Central banking with ‘other people’s gold’: A $368bn treasure trove in Lower Manhattan

Germany is repatriating its gold reserves from the New York Federal Reserve. This decision has created a frenzy in the gold market. But that is just the tip of the iceberg. According to the NY Fed, there are (2012) approximately 530,000 gold bars, with a combined weight of circa 6,700 metric tonnes stashed away in the […]

Bringing in the bullion: Germany to repatriate gold from US and France

Bringing in the bullion: Germany to repatriate gold from US and France

Germany’s central bank is set to reclaim some of its vast gold reserves held in the US and France. The move follows an audit criticizing Bundesbank for mismanagement, stating the funds had never been “verified physically.” Bundesbank announced plans to withdraw its entire 374-ton store of gold bullion from the Bank of France in Paris, […]

Superhumans, supercities and supercomputers: US intelligence’s vision of 2030

Superhumans, supercities and supercomputers: US intelligence’s vision of 2030

Things are about to get a little weird. This according to the National Intelligence Council, at least, a US-based coalition of spy agencies that has just released its predictions for what’s in store for the Earth in 2030. The NIC released on Monday “Global Trends 2030: Alternative Worlds,” an 140-page report that brings together the […]