The US government which is currently facing a deep financial crisis is likely to find it difficult to meet its various obligations after February 14, according to a report released by a Washington based think tank. The Bipartisan Policy Group or BPC has mentioned that the US government has already reached its borrowing limit on the New Year’s Eve and is currently funding its operations through extraordinary measures. The US treasury has been tapping the $200 billion emergency fund to ensure uninterrupted operations of departments or schemes fully funded by it. The report prepared by … [Read more...]
Strong Demand for American Eagle Silvers Leads to Suspension of Sales
February 1, 2013 by
The US mint which sells a wide range of bullion gold and silver coins through its network of authorized dealers has announced suspension of sales of its 2013 dated American Eagle Silver Coins for the time being. The sale will be resumed soon. The decision comes as the inventory of these freshly minted coins run out and investor demand for these coins surges in the first fifteen days of their launch itself. The strong demand for these coins is attributable to the growing popularity of bullion as a safe investment because of growing fears about a possible recession in the US. Addressing … [Read more...]
Bad News For The UK taxpayer
January 10, 2013 by
There is indeed some bad news for the UK taxpayer. It appears that the entire amount of £66 billion, which was accumulated from taxpayer money in a bid to revive the sagging fortunes of RBS and Lloyds, could have been lost forever! This is what a report generated by a committee comprising of imminent members of the UK parliament claims. Margaret Hodge, the chairperson of the committee, has issued an official statement in which she warns that the pounds invested for the revival of Lloyds and the Royal Bank of Scotland may be irrecoverable. The same was declared in a report concerning the sale … [Read more...]
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