Here is the look at world’s largest gold reserves
1. United States of America – 8,133.5 tonnes
2. Germany – 3,408.3 tonnes
3. IMF – 3,217.3 tonnes
4. Italy – 2,451.8 tonnes
5. France – 2,445.1 tonnes
6. China – 1,054 tonnes
7. Switzerland – 1,040.1 tonnes
8. Japan – 765.2 tonnes
9. The Netherlands – 612.5 tonnes
10. Russia – 568.4 tonnes
11. India – 557.7 tonnes of gold
Here are the 2 types of corporate bankruptcy under U.S. law.
- Chapter 11 bankruptcy, allows a company to continue to operate as it sheds debts and contracts it can not afford.
- Chapter 7 bankruptcy, the company goes out of business fairly rapidly as its assets are sold off to try to satisfy its creditors.
[ Via CNN Money FAQ ]
Japan , the world’s second-largest economy is in a recession officially.
Japans gross domestic product has fallen by 0.4 percent this year, pushing Japan into its first recession since 2001.
Japan joined Germany and Italy on the list of major economies that are now officially in recession.
The last time Japan fell into recession was in 2001 after the Internet bubble burst.
The Reserve Bank of India (RBI) today lowered the repo rate by 100 basis points to 8 % as against 9 % earlier. Repo rate is the rate at which the RBI lends to the banks.
The decision was aimed at improving the liquidity position in the country.
Repo Rate is the rate at which Reserve Bank of India (RBI) lends to the banks. Whenever the banks have any shortage(money to lend) of funds they can borrow it from RBI.
If the repo rate is reduced, it will rate will help banks to get money at a cheaper rate.
Socialism (or Marxism)
An economic system in which the basic means of production are primarily owned and controlled collectively, usually by government under some system of central planning.
Communism, or “scientific socialism”
Communism is usually considered to be a branch of socialism, a broad group of social and political ideologies, which draws on the various political and intellectual movements with origins in the work of theorists of the Industrial Revolution and the French Revolution.