(Mac Slavo) The two main holders of United States Treasuries, the countries of China and Japan, have dumped the dollar. Both nations have dramatically cut their ownership of notes and bonds in August, according to the latest figures from the US Treasury Department, released on Tuesday.
financial news
War On Cash Goes into Full Effect — Purchases Over $10,000 ILLEGAL in Australia
(Jay Syrmopoulos) As government attempts to track every purchase to increase their power, Australia is spearheading this war on cash by outlawing any purchases in cash over $10,000.
Military Industrial Complex Stocks Sent Crashing as North and South Korea Achieve Peace
(Rachel Blevins) On the same day that the leaders of North and South Korea met and agreed to a historic peace deal, the five largest defense contractors in the U.S. lost more than $10 billion in value.
Finland Ends Its Experiment with Universal Basic Income
(Daniel J. Mitchell) I’m conflicted. I’ve repeatedly expressed skepticism about the idea of governments providing a “basic income” because I fear the work ethic will (further) erode if people automatically receive a substantial chunk of money.
Facebook Stock Tanks after Data Breach Report & Facebook Is Reportedly Under FTC Investigation Over Its Handling of User Data
(Shannon Liao) Facebook’s stock has tanked after revelations that the company had shared the data of up to 50 million users with the political data analytics company Cambridge Analytica. By noon ET on Monday, it’s dropped by nearly 7 percent — the most that Facebook has fallen in a single day in over five years.