News
China says it will set up yuan clearing arrangements in Brazil
China's central bank has signed a memorandum of understanding on setting up yuan clearing arrangements in Brazil, it said on Tuesday, in a move to help boost the currency's global clout. The establishment of such arrangements for the renminbi (RMB), or the yuan, would be beneficial to cross-border transactions, and further promote bilateral trade and investment facilitation, the People's Bank of China said on Tuesday.
WHY IS VENEZUELA’S GOLD STILL FROZEN IN THE BANK OF ENGLAND?
In late December, Venezuela’s leading opposition parties voted to oust Juan Guaidó as “interim president” and dissolve his parallel government. This was clearly not the ending the UK government had in mind. Four years ago, the British government made the bold decision to recognise Guaidó as Venezuelan president, and proceeded to facilitate his legal battle to seize roughly $2bn of gold held in the Bank of England. Indeed, the UK government insisted at every turn that it recognised Guaidó – and not Nicolás Maduro – as Venezuelan president. In turn, Guaidó’s lawyers argued that he was authorised to represent and control the assets of the Central Bank of Venezuela held in London.
Another Recession Sign: Part-Time Work Is Growing Faster than Full-Time Work
The Bureau of Labor Statistic (BLS) released new jobs data on Friday. According to the report, seasonally adjusted total nonfarm jobs rose 517,000 jobs, which was well above expectations. The words used by the media to describe the report included “stunner” and “wow.” President Joe Biden claimed the number proves his administration has delivered economic prosperity. The administration has also noted that in the official numbers, the unemployment rate is at a multidecade low. This, Biden and his supporters insist, proves the economy is remarkably strong.
Treasury Yield-Curve Inversion Reaches Deepest Level Since 1980s
US government bond investors pushed two-year yields above 10-year yields by the widest margin since the early 1980s Thursday, a sign of flagging confidence in the economy’s ability to withstand additional Federal Reserve interest-rate hikes. The yield on the shorter-dated Treasury at one point exceeded the longer-dated note’s by as much as 86 basis points. The two-year rate was 4.10% on Feb. 2, before stronger-than-expected January employment data sparked a reassessment of how much higher the Fed’s policy rate might need to go to stifle inflation.
From Joe
How to Buy Gold Without Getting Scammed
Today, the world of precious metals is full of scammers, frauds, and thieves who are trying to take your hard earned money.
Fortunately, you don't have to be their next victim. With this course you will be able to safely avoid all the traps and mistakes that could lose you hundreds or even thousands of dollars. You will be able to easily invest in gold, choosing the best way for your personal situation and preserve your purchasing power long-term.
Sign up now and start stacking sound money today.