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Things You Might Not Know about Some Foreign Currency

Monday, October 20, 2014 5:57:32 PM America/Denver

5 YenPerhaps the only money that has ever interested you is the money in your wallet--Washingtons, Lincolns, Hamiltons, Jacksons, Grants, and in some lucky cases, Franklins. We recognize those faces on our money because of the great deeds they have done for the United States.

There are many other currencies in the world that have their own unique histories. Here are a few things you might not have known about various foreign currencies.

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What’s in Your Pocket?: Top 5 Most Valuable Coins

Monday, October 6, 2014 5:52:31 PM America/Denver

Double EagleWhat if someone told you that a piece of shiny metal weighing less than an ounce was actually worth millions of dollars? This is a truth thousands of coin collectors around the world have discovered. Whether you are a seasoned collector, or looking to get into the trade, you should be aware of five of the most valuable coins in the world.

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Ensuring That Your Foreign Currency is Genuine

Tuesday, September 23, 2014 9:57:00 AM America/Denver

Make sure your currency is genuineCounterfeiting is a huge, illegal business. While it makes many criminals millions, it can hurt unsuspecting people and cause all sorts of uncomfortable situations.

While many people only worry about counterfeit bills in their own country, counterfeit money can also be a huge problem when exchanging your native currency for a foreign one. To make sure that your foreign currency is genuine, follow these four tips:

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10 Tips for Exchanging Your Currency

Tuesday, September 9, 2014 9:44:00 AM America/Denver

Foreign currencyIf you are traveling to a foreign country, most likely you will need to acquire some local currency. From going to your bank, to using a local currency exchange company, to using your credit card, there are many different ways to put this new money in your pocket. Then, of course, there are the questions of how to keep this new money safe and what to do with anything you don’t spend.

To help ease your worries, we’ve pulled together the 10 best tips for currency exchange. By following these tips, you can be sure that you will have the best experience with your foreign money.

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Insight into Central Banks

Monday, July 21, 2014 9:12:00 AM America/Denver

Central Bank of RussiaA central bank is an important institution for many different countries.  With the responsibility of managing a country’s money supply, a central bank works to provide stability to the economy of it’s country.

 

A central bank is owned by the respective country’s government. However, in order to make sure that political decisions do not influence its practices, a central bank is kept separate from the country’s ministry of finance. With precursors dating back to medieval Europe and China, central banks have become commonplace in many different countries.  Some common examples include the Federal Reserve (USA), The Bank of England, Reserve Bank of Australia, European Central Bank, and Central Bank of the United Arab Emirates (for a full list of central banks, go here: http://www.bis.org/cbanks.htm)

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ISIS in Iraq

Tuesday, July 8, 2014 4:09:00 PM America/Denver

Map of Middle EastIn June 2014, a group known as the Islamic State of Iraq and the Levant challenged the Iraqi government.  Led by Abu Bakr al-Baghdadi, the group (also known as ISIS) has taken control over large areas of the country in the west and the north, including several strategic towns on the border of Syria.

One of the unique factors of ISIS is that its ranks are filled with a large number of foreign jihadists. In fact, ISIS claims that it has fighters from the US, the UK, France, Germany and most of the Arab world.  While the exact size of ISIS is unknown, it is large enough to have established itself as a real contender in the current struggle for control over the Iraqi government.ISIS was officially formed in April 2013, growing out of the al-Qaeda group in Iraq. It solidified its presence through military conquests in Syria before crossing over into Iraq.

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A Brief History of the Indonesian Rupiah

Monday, June 23, 2014 9:41:00 AM America/Denver

Indonesian RupiahThe rupiah is the official currency of Indonesia.  While its current incarnation was released in 1946, the precursors of the rupiah date all the way back to the colonial period.


Indonesia is a country that has been ruled by several other countries. While the natives of the country have used coin-like items (made out of beads) to trade since the 9th century, it wasn’t until the Europeans arrived that gold coins and silver dollars were introduced into their civilization. These coins arrived at the hands of the Portuguese, the Dutch, and the Spanish. First arriving at the hands of traders, coins, and banknotes were officially adopted in Indonesia with the Dutch conquest in 1600.Read More

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A Look at Self-Directed IRAs

Monday, June 9, 2014 4:07:03 PM America/Denver

Self Directed IRAWhen it comes to your retirement, you want to make sure that you are using all of the options that are available to you.  While many people know that they can have an Individual Retirement Account (IRA) where their money is used to invest in the stock and bond market, most don’t realize that they can use a self-directed IRA to broaden their retirement account into a wider array of items, such as precious metals, foreign currency, and real estate.Read More

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Jordan- The Eye of the Storm

Wednesday, May 28, 2014 9:33:00 AM America/Denver

Jordan FlagEstablished as a sovereign nation in 1946, Jordan is a relatively new country, and the same royal family has been in power for the entire stretch of its brief history. The death of long-time monarch, King Hussein in 1999 brought about a new era for Jordan. Hussein’s son, King Abdullah is now the reigning leader, and he has overseen and promises further economic and political reform for the country. At the center of warring countries and heated conflict, Jordan has miraculously maintained its place as a relatively peaceful country, and a safe haven for refugees from the region.

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A Brief History of the Syrian Pound

Wednesday, May 21, 2014 9:28:00 AM America/Denver


Syrian PoundThe Syrian pound is a relatively new currency in the foreign market.  As the country of Syria was ruled by other countries for much of its history, its currency has reflected its rulers.  During the time of the Ottoman Empire, Syria used the Ottoman lira. With the fall of the Ottoman Empire and the rule of the French, Syria, like its French-ruled neighbors of Lebanon, Palestine, and Transjordan, adopted the Egyptian pound in 1918.  However, this French change was only the beginning of the Syrian currencies evolution.

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