Turkish lira banknotes are seen in this picture illustration taken in Istanbul

Currency War! Turkey Strikes First, Cascade Of Global Rate Hikes Next?

Editor’s Note: Historians may well look back to today’s action in Turkey as the financial ‘shot heard round the world’, and the final death knell for the US Dollar. As you will read below, Turkey’s Central Bank increased its key interest rate from 7.75% to 12.00%, a nearly unheard of 4.25% increase in one fell…

Bitcoin Note

Bitcoin Explodes Above $1,000; Up 84% Over Past 3 Weeks And 9,900% Year Over Year

The controversial cryptorcurrency Bitcoin crossed the $1,000 earlier today and has nearly doubled in value since it hit a low of $535 on MtGox in mid-December 2013. Bolstered by announcements from retailer Overstock, which stated it would begin accepting Bitcoin as payment later this year, as well as ongoing uncertainty in global financial markets, and…