Venezuela will introduce six new notes and three new coins starting in mid-December to help alleviate practical problems in doing business with the world’s most inflationary currency, according to the central bank.
Currently, the OPEC nation’s largest note is worth just 2 U.S. cents on the black market, meaning cash transactions are extremely cumbersome.
Read the Full Article: Source – Reuters
Time For Truth: (Reuters) – Venezuela confirms bigger bills amid world's highest inflation
With the value of Venezuela’s largest banknotes reduced to a few U.S. cents by triple-digit inflation and the currency’s collapse on the black market, the country’s central bank said it will begin circulating higher-denomination notes this month.
New denominations including bills of 500, 1,000, 2,000, 5,000, 10,000 and 20,000 bolivars will start appearing at banks from Dec. 15, according to a Central Bank statement, adding that coins of 10, 50, and 100 bolivars would also be released. Bloomberg News first reported the plans for larger bills on November 30.
Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Venezuela to Issue Bigger Bills This Month as Currency Plunges
Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace.
A 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.
Read the Full Article: Source – Yahoo News
Time For Truth: (Yahoo News) – Naked selfies used as collateral for Chinese loans
China is facing an uphill battle to maintain an orderly depreciation of the yuan as investors pile up bearish bets against the currency outside the mainland.
Read the Full Article: Source – Wall Street Journal
Time For Truth: (Wall Street Journal) – China Struggles to Steady Yuan’s Decline
Short-term gain for long-term pain?
That’s the view of economists at Goldman Sachs Group Inc., who argue that while some of President-elect Donald Trump’s proposals could boost U.S. economic growth in the near future, his other policies would offset those positive impacts over the long-run.
Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Goldman Sees the Possibility of Stagflation Under Trump Presidency