Currency – DEMAGAGA

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Venezuela Eliminates 100 Bolivar Banknote

Cash crunch worsens as Venezuela weathers one of the worst economic crises in its history Venezuela pulls most popular banknote – BBC News Venezuela’s widely-circulated, oft-used 100-bolivar banknote will not be legal tender beginning December 16, 2016. Venezuelan citizens received notice of this move by the central government only a few days ago and the […]

Bitcoins: The Internet’s Virtual Currency

A currency that is neither tied to a natural resource nor controlled by any central authority, bitcoins represent a unique manifestation of the dynamic changes the internet and the connected international culture it has spawned bring to the world of economics and global commerce. As covered previously here on Demagaga, bitcoins can be used to […]

Finance Minister Tendai Biti: $217 Remains in Zimbabwe’s Sovereign Account

In a report from Agence France Presse, Tendai Biti told reporters in Harare that Zimbabwe would have $217 remaining after it paid government workers, leaving the nation’s finances in a state of paralysis. Zimbabwe had extraordinarily high levels of inflation in 2011 and 2012 which the IMF claims have only recently moderated at levels beneath […]

British Prime Minister David Cameron Warns of Possible UK Exit from the European Union

A speech that was to be delivered by United Kingdom Prime Minister David Cameron but was canceled due to a hostage crisis in Algeria warns that Britain could leave the European Union if reforms to the EU’s present form of governance are not pursued according to excerpts released on Friday, January 18. His speech, which was to be […]

New Canadian 20 Dollar Bills Feature Wrong Maple Leaf in Design Error

An error by the Bank of Canada in the design of its new 20 dollar bills made from plastic has placed the Norwegian maple leaf, and not the native sugar maple leaf that is on Canada’s national flag, on its currency. The mistake was spotted by an observant Canadian botanist, Sean Blaney, of the Atlantic […]

Germany Wants Its Gold Returned

Germany wants gold that it stores in France and the United States returned to it, according to reports. The Bundesbank’s total gold holdings top $200 billion in value, representing 3400 tons of gold. 1,500 tons of gold are stored in the vaults of the Federal Reserve Bank in New York City, and 450 tons with the Bank […]

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Eva Peron is the Face of the New 100 Peso Bill in Argentina

Famous former first lady of Argentina, Eva Peron, wife of Juan Peron, is the new face of the 100 peso bill. Affectionately known as Evita, Eva Peron’s life and political career are well known stories in Argentina and around the world. Whether a supporter or not, it is hard to deny her impact on the […]

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Iceland and Greenland Discuss Adopting the Canadian Dollar as National Currency

The economic downturn has claimed many victims: individual citizens, corporations, countries and potentially entire monetary unions (such as Greece in the euro). Iceland is no stranger to economic hardship, becoming the first nation to declare sovereign bankruptcy in years when it did so in 2008. In order to jumpstart the economy, use of the loonie […]

United Kingdom’s Foreign Office Warns Embassies of Potential Riots in Case of Euro Zone Collapse.

While the euro zone teeters on the brink, Britain’s bureaucrats in the Foreign Office are telling their operatives abroad about how to handle potential civil unrest in the event of the collapse of the euro. All of this is based upon events in Greece which has seen incidents of civil disorder increase following the chaos […]

Euro Bonds Are Rejected by Germany as a Solution to the Euro Zone Financial Crisis.

Germany’s Chancellor Angela Merkel has repeated her nation’s rejection of a common euro bond market as a solution to the financial crisis gripping the euro zone following a failed bond auction on the part of Germany to raise money for the joint effort to save the common market currency. The German focus has remained on […]