It is true that cryptocurrencies have been gaining more acceptances all over the world. As a result, the rise of Bitcoin should have been no surprise had the rise been minimal. However, of late the value of a single Bitcoin has grown several-fold. It is now more valuable than several currencies in the world. The sudden…

The European economy is facing a significant downturn. There is a looming financial crisis in Europe which has been caused by excessive borrowing in the past. However, it is unlikely that this borrowing will stop in the near future. This is because the immigrant crisis in Europe is draining its resources making borrowing inevitable. In…

The dollar today is the uncrowned king of the financial world. This means that the dollar does not face much of competition from other currencies as on date. However, that does not mean that the dollar is invincible. Economies all over the world today are tired of the United States imposing its military and financial…

Brexit was quoted as being the financial equivalent of doomsday for Britain’s economy. Every economic pundit worth his/her salt predicted dire consequences for Britain. Fear mongering was rampant, and memories from the Great Depression were invoked. However, a quarter into the Brexit all this has turned out to be mere propaganda. The Bank of England…

The Mississippi bubble is one of the biggest asset bubbles known to the modern world. This bubble first led France out of bankruptcy and straight into prosperity. Then this same bubble caused the opposite to happen, bankrupted France and gave an impetus to the revolution. This bubble was created when John Law, a renegade Scotsman…

Latvia is a small country nestles in Eastern Europe. Nothing from this country seemed remarkable to the global financial world before November 2008. After 2008, Latvia became a different story altogether. This small nation was also suffering from the crisis that rocked the world in 2008. The people lost billions of dollars, and some of…

Iceland is a small country with a population of about 300,000. Its economy is not considered to be significant enough to make headlines in the world financial news. However, in 2009, all this changed and Iceland became a talking point for economic experts all over the world. The way Iceland was handling its finances became…

The Nordic crisis of 1992 refers to the series of bank runs and currency crisis that shook Finland, Sweden as well as Norway in the early 1990’s. This was the first major national banking crisis since the 1930’s (if wars are not taken into account). Thus, an important belief that the fractional reserve banking system…

The Israeli bank crisis of 1983 rocked the Middle Eastern financial world. The Israeli economy was believed to be strong and has been able to navigate many wars since its inception in 1948 without breaking down. However, in 1983, the economy faced major shocks even in the absence of any major war or political upheaval.…

The high indebtedness of the United States of America is well known. However, USA is still considered to be an economic superpower and its economy even in the faltering state is better than many countries. However, of late Puerto Rico, an American state in the Caribbean islands has revealed information that communicates financial distress. The…