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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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Posted By First Last

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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Posted By First Last

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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A Brief History of the Japanese Yen

Tuesday, May 13, 2014 5:20:44 PM America/Denver

Japanese YenThe country of Japan has seen many different kinds of currency over its long and rich history.  From the earliest Wu Zhu coin brought over from China during the Han Dynasty (around 221 BC) to the privately minted Toraisen and Shichusen coins of the 14th-16th centuries, to the first introduction of paper currency (around 1600), Japan has continuously borrowed both its currency and its ideas of what money should be from other countries.  The foreign influence continued with the introduction of the Yen in 1871, which remains the current official currency of Japan.

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A Brief History of the Vietnamese Dong

Wednesday, April 23, 2014 12:03:44 PM America/Denver

Vietnamese DongFor much of its history, Vietnam used the currency of those that ruled it.  The first declaration of an independent currency came in 1946, when the Viet Minh government (what would eventually become the government of North Vietnam) issued a currency, called the dong, to replace the current currency, the French Indochinese piaster.  The State of Vietnam (which would eventually become South Vietnam) followed in 1953, with its own version of the dong (eventually called the liberation dong after the fall of Saigon).  However, it wasn’t until Vietnam became unified in 1978 that the dong became the official, united currency.

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