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The Design of the Iraqi Dinar

Friday, July 22, 2016 3:23:00 PM America/Denver

Iraqi dinar under a magnifying glass

Did you know that in Japan, banknotes are printed with the images of famous scientists and writers? The recent debate in the United States regarding a woman on a major bill made everyone take a good look at what currency means to a country. That’s why taking a closer look at the art and design on the Iraqi dinar can give us valuable insight into the history, values, ideals, and culture of the country.

The History of the Iraqi Dinar

The Iraqi dinar was introduced in 1932 to replace the Indian Rupee, in circulation in Iraq ever since the British occupation after WWI. Before the Gulf War, dinars were printed in Switzerland, using high-quality printing methods. However, in 1991, UN sanctions prevented these Swiss-printed dinars, and Iraqi currency was instead printed locally, or in China, using inferior methods and quality. Notes printed between 1991 and 2003 are full of inconsistencies, and printed on wood pulp paper (instead of linen or cotton like most modern notes). This era saw a lot of forgery, sometimes of a better quality than the officially printed notes. The previously printed notes became known as Swiss dinar, and though they were disendorsed by the government, they held their value better than official dinars, and remained in high circulation in the Kurdish region of the country.

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Vietnam's Demographics Give Us a Glimpse into its Future

Friday, July 22, 2016 3:17:00 PM America/Denver

Three Vietnamese business people gathered together around a laptop discussing plans

One of the most significant things that we learned from President Obama’s recent visit to Vietnam (May 2016) is the tone and outlook of the country’s population, which gives us valuable insight into the future of the country.

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Vietnam's Place in the World Market

Friday, July 8, 2016 3:04:00 PM America/Denver

Cheerful girl in green tea fields in Vietnam

Vietnam’s economic pillars are exports and tourism, although it also sees a lot of support from foreign investment in its stock market, as many international investors are cluing into its steady growth as it transitions from a communist nation into a posterchild for the free market.

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Vietnam's Transition to a Market Economy

Friday, July 1, 2016 2:41:00 PM America/Denver

Close up view of 2,000 Vietnamese dong currency

With President Obama’s visit to Vietnam in May of 2016, we thought it would be a good time to focus on Vietnam and how it’s doing. For the beginners out there (and some of us old hats, too) here’s a brief overview of the history of economic reform in Vietnam, and its transition to a “Socialist-oriented market economy”

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Just How Strong Is the U.S. Dollar?

Wednesday, June 22, 2016 2:12:37 PM America/Denver

american currency usdThe story of the U.S. dollar for some time, since July 2014 at least, has been that it is seeing an unusually rapid rise against all other world currencies. The dollar gained strength due in large part to the U.S. having an especially strong economy while the rest of the world struggled. During the second half of 2014, the U.S. dollar increased in strength against all other major global currencies, including the Swiss franc, Japanese yen, and British pound. And in early 2015, CNN reported that the U.S. dollar was seeing its fastest rise in 40 years, asserting that the unexpected rise of the dollar wouldn’t be changing anytime soon.

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Venezuela's Economic Crisis

Wednesday, June 15, 2016 2:08:16 PM America/Denver

venezuelan flag with word crisisThe South American country of Venezuela is currently facing the most serious economic crisis of any Latin American country. President Nicolas Maduro, the successor to Hugo Chavez, recently declared a state of emergency in the country. According to Forbes, inflation will likely top 400% this year, and many parts of the the country are already seeing a lack of electricity access. Matt O’Brien of the Washington Post recently stated, “[Venezuela] has the world’s worst economic growth, worst inflation and ninth-worst unemployment rate right now. It also has the second-worst murder rate, and an infant mortality rate at public hospitals that’s gotten 100 times worse itself the past four years.”

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A Look at Russia’s Struggling Economy

Wednesday, June 8, 2016 2:01:42 PM America/Denver

russian currency rublesRussia’s economy has been operating at a deficit since 2012, and poverty there continues to be on the rise. In fact, the World Bank predicts that the poverty rate will reach 14.2% in 2016. The country’s Reserve Fund is also expected to run out by 2017—just next year. Recently one New York Times economic analyst took an in-depth look at potential contributing causes to Russia’s struggling economy; here is a brief overview of those factors that are contributing to Russia’s economic instability.

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Greece Seeing More Bailouts

Wednesday, June 1, 2016 2:00:00 PM America/Denver

focus on greece in europeThe Greek government-debt crisis has definitely been a hot topic in global economy news for some time now, and it looks like European leaders are scrambling once again to come up with solutions for Greece’s struggling economy.

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The Panama Papers Explained pt. 3

Sunday, May 22, 2016 1:08:32 AM America/Denver

The release of the Panama Papers represents the single largest journalistic leak and, perhaps, achievement of investigative journalism in the digital age. The papers give a rare glimpse into the world of offshore shell corporations, and the many ways that they can be used nefariously, due to the lack of oversight that accompanies them. Because news is still coming out about the Panama Papers every single day, it can be difficult to keep track of what exactly this latest revelation means. To help in that understanding, here is a 3-part series that explains the Panama Papers and what we can expect to see from here…

Regions of hidden wealth

Of the offshore business structures that were created by Mossack Fonseca, most of the ones that were hiding wealth for the purpose of tax evasion (which are nearly all of them) were set up in the Caribbean, with over half of them being on the British Virgin Islands, Panama, and the Bahamas. Of where this money came from, nearly all of it derived from industrialized, and often Western, countries. China, Russia, and Hong Kong represented the largest contributors of tax evaded wealth, with Britain and Sweden being shockingly high, as well.

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Posted By Treasury Vault

The Panama Papers Explained pt. 2

Sunday, May 15, 2016 1:06:12 AM America/Denver

 release of the Panama Papers represents the single largest journalistic leak and, perhaps, achievement of investigative journalism in the digital age. The papers give a rare glimpse into the world of offshore shell corporations, and the many ways that they can be used nefariously, due to the lack of oversight that accompanies them. Because news is still coming out about the Panama Papers every single day, it can be difficult to keep track of what exactly this latest revelation means. To help in that understanding, here is a 3-part series that explains the Panama Papers and what we can expect to see from here...

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Posted By Treasury Vault

Items 1 to 10 of 136 total

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