Home » January, 2009 You are currently browsing entries posted in: January, 2009

Gold Vs Dollar

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No Cash Value

Cash is simply a medium of exchange that we use to purchase something that has value; cash is not money because it doesn’t have value in and of itself. The point is what exactly has value? Certain substance can be said to have value based on their worth (personal view).Gold as the case maybe is [...]

Gold price hits three-month high at $906

For those of you that are still doubtful about the safe place to invest in, this present economics depression,i huge you to read this and leave you view below “LONDON (AFP) — The price of gold rose to 906 dollars an ounce here on Monday, the highest level for three and a half months, on [...]

Gold stays solid as currencies soften

Forecasting currency movements is difficult at the best of times given the forex market’s tendency to “charge one way and then the other… with the same fickleness as a teenager follows fashion”, as Hugo Dixon of Breakingviews once put it. Throw in the enormous volatility in global markets amid the credit crunch and it becomes [...]

Bank of America announces great losses. Full year report

Bank of America Corporation has announced its full-year 2008 profit. According to the report BofA has earned only $4.01 billion compared with net income of $14.98 billion a year earlier. Earnings after preferred dividends and available to common shareholders were $2.56 billion, or $0.55 per diluted share, down from $14.80 billion, or $3.30 per share. [...]

Treasury agreed to invest $20 billion in Bank of America

The U.S. government entered into an agreement today with Bank of America to provide a package of guarantees, liquidity access, and capital as part of its commitment to support financial market stability.   Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of [...]

Foreign banks reject Nigerian guarantees over credit crunch

As the effects of the current global financial crisis hit harder on the country, foreign banks are now rejecting guarantees granted by Nigerian banks for execution of local projects. BusinessDay gathered that credit lines opened for Nigerian banks by their foreign counterparts have almost completely dried up thereby crippling their domestic operations and worsening their [...]

CBN reverts to Retail Dutch Auction

Central Bank of Nigeria (CBN) in its resolve to return stability to the market is reintroducing the Retail Dutch Auction System (RDAS) effective, Monday, ostensibly to check frivolous demand for foreign exchange (forex), which gives room for speculation. Under Wholesale Dutch Auction System (WDAS), banks were not expected to submit documentations entailing what their clients [...]

Buying Gold Online Made Easy

Dear readers, I would like to use this thread to educate us on How to invest and trade in Gold with a click from your mouse(online).I believe that alot has been said about Gold but with little or no reference to How to trade or invest in it.Here i will be reviewing ways which you [...]

BullionVault’s turnover up five-fold to £236m in FY 08

LONDON, 1 November 2008 – Online gold exchange BullionVault posts year-end turnover figure of £236m (US$354m) – up from £41m in previous financial year. AS THE U.K. SLIPS into recession, led by financial services, one London business is bucking the downward trend in dramatic fashion. Annual accounts for BullionVault.com – posted today – show a [...]