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News & Articles By Roy Green
02/08/2023
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By Roy Green
Russia boosts gold stock to cushion impact of US, EU sanctions
Russia went on a gold-buying spree last year out of necessity. It wants to cushion the full impact of the trade and economic sanctions imposed by the United States and the European Union (EU) nations following its invasion of Ukraine on February 24, 2022. According to Finance Ministry data obtained by Reuters on Feb. 3, […]
01/24/2023
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By Roy Green
Crypto lender Genesis seeks bankruptcy protection in last-ditch attempt to stay afloat
Cryptocurrency lender Genesis Global Capital is debt-ridden and scrounging for funds to avert total collapse. Saddled with liabilities that could go as high as $10 billion, it filed for Chapter 11 bankruptcy protection in Manhattan, New York on Jan. 19. The beleaguered crypto firm joined the growing list of digital currency businesses going under as […]
01/23/2023
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By Roy Green
Gold price jumps to 8-month high, eventually settles above $1,900 level
Gold prices vaulted to their highest in eight months on Jan. 17 before settling at the $1,900 level. This followed the U.S. dollar tumbling and inflation slowing down, raising hopes of lower interest rate hikes from the Federal Reserve. The U.S. gold futures contract reached $1,931.80, the yellow metal’s highest since hitting $1,935.50 on April […]
12/23/2022
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By Roy Green
California announces closure of 2 prisons due to budget constraints (but there’s plenty of money for illegal immigrants)
California is shutting down two prisons – not because crimes are on the decline and there are fewer criminals, but because the state is facing a budget deficit. The California Department of Corrections and Rehabilitation (CDCR) announced on Dec. 6 the closure of Chuckawalla Valley State Prison in Blythe, about 100 miles east of Palm Desert, and […]
11/16/2022
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By Roy Green
Crypto lender BlockFi blocks withdrawals as FTX declares bankruptcy
The crumbling crypto industry has claimed another likely victim in BlockFi, a digital-asset lender worth $10 billion once, but is now barely functioning. With FTX announcing its plans to file for bankruptcy on Friday, Nov. 11, BlockFi announced via Twitter on the same day that it is “stopping client withdrawals” because of a “lack of clarity” […]
11/09/2022
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By Roy Green
High car loan rates are driving away prospective buyers
Owning a car, whether brand-new or used, is getting harder for most Americans these days. Inflation is spiking and auto loan interest rates are rising, hitting the highest level since 2019. With no signs of slowing down, the interest rates will soon breach the 14-year record highs. Prospective buyers, already having second thoughts due to […]
10/27/2022
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By Roy Green
Investment banks, CEOs predict recession happening soon as economic index declines further
All signs point to a recession happening soon in the United States. Major investment banks are predicting a major economic decline, while CEOs of the country’s top companies are already bracing for a recession before the end of the year or early next year. (Related: Bloomberg model projection says recession is 100% certain in next 12 […]
09/08/2022
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By Roy Green
HIGHER EDUCATION ROBBERY: American taxpayers will be forced to pay an average of $2500 each if student loans are cancelled
Many American taxpayers have not realized it yet, but they are going to pay a hefty price if the Biden administration’s plan to condone student loans of up to $20,000 pushes through. While the amount to be passed on to taxpayers varies according to the income spectrum, where those in the upper brackets are going […]
08/31/2022
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By Roy Green
Biden’s plan to write off student loans using post-9/11 national emergency law is a form of political posturing
The intention may be noble, but the timing of the execution reeks of something unpleasant – especially with the midterm elections coming up. This was the common reaction of Americans to President Joe Biden’s plan to write off billions of student loans. The loan forgiveness plan – estimated to cost the federal government between $300 […]
08/18/2022
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By Roy Green
Zero-COVID policy having severe effects on Chinese economy
China’s stubborn adherence to its zero-COVID policy has severely affected the country’s economy. It was highlighted during a citywide lockdown in Shanghai, a global financial hub of over 25 million people. The draconian measure imposed by the Chinese Communist Party (CCP) to curb the spread of the Wuhan coronavirus (COVID-19) lasted two months. In terms of the […]
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