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When the Banks Closed, Ireland Invented Its Own Money
On Friday, 1 May 1970, the doors of Ireland’s main banks did not open. A dispute between the Associated Banks and their employees had reached an impasse, and what might ordinarily have been a temporary inconvenience became an extraordinary six-and-a-half-month experiment. The affected banks formed the backbone of the Irish banking system. They operated hundreds […]
China Is Closing Retail Gold Trading. Here’s What It Really Means
At the time of writing, gold is trading near $4,067 an ounce, down around 1.5% today, while silver is close to $58.06, down approximately 2.75%. Today’s market reaction is once again being driven by what the conflict could mean for inflation and interest rates. Oil has climbed towards $100 a barrel following attacks on two […]
