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The Federal Reserve System Anyone who is in Banking & Payments and is a bit of a history buff, would know essential flow of how our money is made. I use the word flaw deliberately, because that is what it is. Money today is created out of thin air. It has been for decades now. There is no tangible commodity at the back end to cover it. It is all created at will and then pushed into the money supply. There is indirect taxation because of this, i.e. inflation that is a monster by...
Why State Bank of Pakistan's PRI (Pakistan Remittance Initiative) needs to be proactive. Their complacent manner is costing Pakistan Millions of Dollars worth of valuable Foreign Exchange. What is Remittance' The technical definition of the word Remittances varies from market to market. Financial Regulators have their own homegrown definitions for it. Here are a bunch of definitions for Remittance. Wikipedia's definition: (Source) A remittance is a transfer of money by a foreign...
TheÂ US dollar was rising earlier today asÂ economic reports from Europe andÂ China prompted traders toÂ seek refuge, buying safer currencies. Yet theÂ greenback erased its gains against other majors after data from theÂ United States themselves turned out toÂ be negative asÂ well.(...)Read the rest of Dollar Loses Gains vs. Majors After Release of US Economic Data (102 words) Posted on Forex News.
Lately, theÂ Great Britain pound has been struggling toÂ continue its rally, andÂ economic data released from theÂ United Kingdom today did not help theÂ matter atÂ all. UK retail sales dropped unexpectedly last month, leading toÂ losses ofÂ theÂ currency against major rivals.(...)Read the rest of Unexpected Decline of UK Retail Sales Leads to Drop of Sterling (58 words) Posted on Forex News.