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The History of Money

The History of Money | banking, finance and investments | Scoop.it
From barter, cattle, and cowrie shells to modern coins and currency, see how economic exchange has evolved through time. (Do you know the history of money?
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Clear timeline indicating the trail of money and future projection of electronic money. A reference to bitcoin would have made the article more comprehensive.

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What Confidence? Retail Investors Are Still Not in Equities | ZeroHedge

What Confidence? Retail Investors Are Still Not in Equities | ZeroHedge | banking, finance and investments | Scoop.it

 It is not only in US, but in India too. Retail investors have not entered the fray, still the sensex is climbing. It is not mysterious if we take supply of money in the system. No statistics to prove, but wondering whether there is anyt positive correlation between money supply and the equity market? Any thoughts?

 

"As we hear more and more pundits talk about the soaring consumer confidence, the "recovery", and how the fundamentals are improving, keep in mind that retail investors are still not in equities.

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Iran urges use of alternative currencies in global trade

Iran urges use of alternative currencies in global trade | banking, finance and investments | Scoop.it

What Iran suggests... and what is meant by alternate currency? Is it that Iran advises the countries to desist from USD or GBP? Is it a suggestion to accept any other currency? If so, will that currency not become dominant in future? If not , is Iran suggesting that let the trade happen in any countries own currency irrespective of counterparty country ? or is it a suggestion that the central bank of each country settle the trade between the purchaser and seller? If yes, then in which currency the central Bank will have its transactions? Is it not returning to the old days of controlled regime? Or is Iran hinting at floating a new international currency like Euro? If Yes, who  will administer it ? Lot of questions to this remark...

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Big Banks vs. Elizabeth Warren: It's On (Again!)

Big Banks vs. Elizabeth Warren: It's On (Again!) | banking, finance and investments | Scoop.it

Great news story highlighting the necessity of revisiting Glass- steagall Act. The story is very illuminating. It also highlights the way the Big Banks move. The reference to South Dakata is apt. Present day BOA-likes would, always,  prefer a hunting ground with least regulations; after all they care about the profits of the company and not safety of the money.

 

" The fight between the financial industry and Senator-elect Elizabeth Warren heats up again over her possible nomination to the Senate banking committee.


Via jean lievens
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New Chinese credit rating agency - The Nation

New Chinese credit rating agency - The Nation | banking, finance and investments | Scoop.it

As part of a long-term plan to create more stability in the global financial system, China has supported the launch of a new credit rating agency. The Universal Credit Rating Group was launched in October, bringing together China-based Dagong Global Credit Rating Company, Russia-based RusRating and US-based Egan-Jones Ratings Co.


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The UsuryFree Eye Opener: Updated List of 102 Communities Using ...

The UsuryFree Eye Opener: Updated List of 102 Communities Using ... | banking, finance and investments | Scoop.it

 As long us the taxes are paid on the transactions, using 'their " own currency may not be a crime. After all, currency is a representation of money.. All laws in the world prohibit the citizens to counterfeit the currency... but does not bar from having their own " currecny". US shows the way, but then will these currencies will find a place in the offcial stastics?

NOTE: These 102 communities using a usuryfree community currency are in the United States of America: Amesbury ... Blue Money Brattleboro, Vermont ... Ormita Commerce Network Barter System Pittsburgh, Pennsylvania ...

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IKEA proposal to set up stores in India approved by Commerce Ministry: Anand ... - Economic Times

IKEA proposal to set up stores in India approved by Commerce Ministry: Anand ... - Economic Times | banking, finance and investments | Scoop.it

Good news. Their website attracted me.. presence in so many countries WoW..."About us " is full of "caring" and "cost efficiency". Both these words suit indian climate. Do they propose to have a similar concept in India.. ? Today the furniture to the new house is mostly done by the promoters of housing unit. The buyers do not have much choices.. IKEA concept will work wonders in India... let us wait and see....

"IKEA proposal to set up stores in India approved by Commerce Ministry: Anand ...Economic TimesThe Department of Industrial Policy and Promotion (DIPP), which is under the Commerce and Industry Ministry, has scrutinised the application...

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Subbarao warns against non-inclusive growth, casino banking - The Economic Times

Subbarao warns against non-inclusive growth, casino banking - The Economic Times | banking, finance and investments | Scoop.it

Well said Mr.Governor. It is the chase of superprofits that let down the financial system.Running after superprofits mean taking unwarranted risks with the sole aim of immediate and super profits. An assumpion is being made that the profits will cover your principal also. Hence one tends to venture into the dangerous territory. There is nothing wrong if an individual resorts to such acts, as he will be the loser. But an institution who is entrusted with money, can not afford take such risks, as the result will reflect on those individuals also who would not have taken the risk. An individual comes to the bank, knowing well that the Bank can not go wrong; it has checks and balances to ensure safety of his money.  Can a Banker spoil such trust?. The Chief of Central bank India cautions:

"Subbarao said general disenchantment with 'casino banking' in certain developed economies underscored the dangers of over-financialisation of real economy.

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Text messaging falls for first time in U.S.

Text messaging falls for first time in U.S. | banking, finance and investments | Scoop.it

Bound to come such applications which provides freedom to users to use internet as their prime messaging platform. An interesting news from US. Does this mean that internet telephony will be replacing the cell phones shortly? I wonder !

"Cell phone users' texting per month fell for the first time ever in the United States in the third quarter, according to a new wireless industry report. (@MGCR331 Text messaging falls for 1st time in US history!

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No enough grounds to justify cash reserve ratio: SBI chief Pratip Chaudhuri

No enough grounds to justify cash reserve ratio: SBI chief Pratip Chaudhuri | banking, finance and investments | Scoop.it
MUMBAI: Sticking to his demand for doing away with the mandatory cash reserve ratio or CRR, State Bank of India Chairman Pratip Chaudhuri today said that merely citing some existing rules do not...
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ATMs cross 1-lakh mark in October; SBI Group controls 59% - The Economic Times

ATMs cross 1-lakh mark in October; SBI Group controls 59% - The Economic Times | banking, finance and investments | Scoop.it
The National Payments Corporation (NPCI) said the banking system has reached a landmark of 1 lakh ATMs (automated teller machines) at the end of October.
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Measuring money—the beer standard

Measuring money—the beer standard | banking, finance and investments | Scoop.it
Why do we pretend that small sheets of paper and cheap metal disks have inordinate value? It’s like the Emperor’s money is made of the same stuff as his new clothes, right? Well, sort of. (A short history of Money-- #GoldStandard ?
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It is simple explanation. setting standards is the main motivation of birth of money. Perhaps this is the reason why there is clamour for treating bitcoin as money. The article misses out the main component of money how the standard is set? Gold was set as standard initially indicating that the value of money is equivalent to the value of gold against which they were printed. Now the standard is different. It is the promise of a central body  of a group of persons called as government. why the standards changed?

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Euro Crisis: Could France be next? | Europe in the World

Euro Crisis: Could France be next? | Europe in the World | banking, finance and investments | Scoop.it

 Euro nations are in the limelight, with one following other, in the face of reforms. Big nation France is being talked about. who will follow?Is the idea of common currency without political integration is the root cause for all these problems? If there is a political integration, are we looking at a war like situation? Is the dreams of "Germany" is taking shape? Probably this calls for a seperate topic.

 

"With all European eyes on Greece, with Spain and Italy in the periphery sight, a lack of financial reforms in France may escalate the crisis even further, ...

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Reliance Money targets gold market with new plan | Firstpost

Reliance Money targets gold market with new plan | Firstpost | banking, finance and investments | Scoop.it

A corporate way to attract investments in Gold. The only novelty appears to be offering equivalent gold or ornamants.Even that is not novel. Gold ETF schemes provide such benefit. The Reliance scheme  has a cost of recurring charges. Smaller towns in India have jewellers offering interest on such schemes, which may undergo some changes if the Reliance Plan picks up. They will also switch over to such gold schemes with least charges , resulting in captive customer base. Nothing novel in the scheme, old wine in new bottle.

" Targeting an estimated Rs two lakh crore unorganised gold market in the country, Reliance Money today launched a new daily gold accumulation plan under which customers can invest as low as Rs 1000 per month.

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The Monetary Future: Currencies of the Future

The Monetary Future: Currencies of the Future | banking, finance and investments | Scoop.it
Many people complain about government control of currency, but only a few do something about it. I’m not talking about movements to “audit the Fed” and such. I’m talking about real innovation that makes an end run around the government’s iron grip on the monetary system.

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UPDATE 1-Task force says global shadow banking hits $67 trillion

An interesting article in the wake of call to all banks to follow BaselII norms to provide for operational risk capital. This will necesary call for additional capital to be pumped into the banks. The promoters may opt for such additional funds to be pumped into less regulated capital market intermediaries, whom the article calls as "shadow bankers." A look at Australian banking system reveals that they are tight about " deposit taking companies" whereas the shadow bankers are let loose a longer rope. Logical , as failure of deposit taking companies means loss of trust in the banking system. Can some one highlight whether the australian banking system permits banks and shadow bankers under a same group of promoters?

 

"* G20 group charts rise of sector blamed for aggravatingcrisis* Shadow banking jumps in a decade from $26 trillion in 2002* Policymakers eye curbs on 'alphabet soup' of non-bankactivityBy John O'DonnellBRUSSELS,...

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Black money: I-T department approaches Swiss revenue authorities ...

Black money: I-T department approaches Swiss revenue authorities ... | banking, finance and investments | Scoop.it

A sequel to the earlier scoop... we see the action..

"The Income Tax department, probing the secret list of account holders in the Geneva branch of HSBC bank, has approached Swiss revenue authorities for banking data of certain individuals after investigations showed some ...

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The man who would be PM - FT.com

The man who would be PM - FT.com | banking, finance and investments | Scoop.it

Money can not stay away from politics. so, this political article from FT, on who will be the future PM of India.  UK has extended a hand to modi and the article says US is only at arms length. Is it an indication that these western economies wish Modi as India's PM?  NO.. we call in the financial world - a strategic hedging.  The article is all about Gujarat elections and we should not read more than that brininging the national picture in focus. The article is another attempt to hide the origin of Modi, even though speaks about it. It talks about leapord changing the spots. Read on as the aricle says:

 

"Narendra Modi knows how to work a crowd.

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Regulators seek changes in how money-market funds operate

Regulators seek changes in how money-market funds operate | banking, finance and investments | Scoop.it

just wondering.. will there be any recommendation for securing long term investment also? US banking has a unique account- money market accounts. That seems to be the root of problems. Instead of looking at the root , we are looking at safeguarding the branches. By offering money market accounts, US banks act as mutual fund also. Investors do look at Banking as Safe avenue. But let us not forget that they look at the bank also a risk taker. Through this money market accounts, Bankers in US abdicate their responsibility of the risk management. A banker who passes the risk to the investor, in my view is not a banker at all. Hence instead of regulating the money markets funds, the committee should restrict bankers. They are not repeat not to be permitted to abdicate their basic responsibility of risk taking. 

" A panel has offered options to address vulnerabilities in industry, which has already opposed plans.

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Rural banks to operate MTN mobile money transfer in 2013 | VibeGhana.com

Intersting read of rural banking services. india proposes to credit the accounts of welfare schemes or subsidy directly to the account of beneficiaries. Still we are talking about inclusive banking which appears to be "dream". Brick and mortar banking can not be way to inclusive banking in a country so diversified. Why not utilise the airways to achieve the objective . Does Ghana is an experiment ?  A affirmative response from MTN representative.

"Rural Banks in the country will soon operate MTN mobile money transfer services, Mr Ebenezer Twum Asante, National Sales Executive of Mobile Telecommunication Network (MTN) said on Tuesday (Rural banks to operate MTN mobile money transfer in 2013 ...

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Bad loans of Public Sector Banks rise to Rs 1.12 lakh crore in 2012

Bad loans of Public Sector Banks rise to Rs 1.12 lakh crore in 2012 | banking, finance and investments | Scoop.it
MUMBAI: Non-performing assets of public sector banks rose to Rs 1,11,664 crore in 2012 from Rs 52,807 crore in 2003, data from the Reserve Bank of India said. "The asset quality of banking system...
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The 20 New Rules Of Money - David DiSalvo Neuropsyched - Forbes

The 20 New Rules Of Money - David DiSalvo Neuropsyched - Forbes | banking, finance and investments | Scoop.it
How do you thrive at a time when uncertainty is the only constant and age-old investment practices no longer seem to work? Here are 20 new rules for protecting your wealth and building your capital.
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