Tuesday, August 22nd, 2017 MST

Category: Interesting Issues

Massive Gold Maple Leaf stolen

Early last Monday morning, burglars broke into Berlin’s Bode Museum and stole a 100-kilogram [221-pound (avoirdupois)] .99999 fine Gold Maple Leaf with a face value of C$1,000,000.  However, the C$1 million face value was nominal.  The coin’s gold value was right at $4 million.

Snow Falcon silver coins not good buys

A telemarketing firm recently began promoting 1-1/2 oz Snow Falcon silver coins, minted by the Royal Canadian Mint.  We advise our clients to stay away from any silver bullion coins larger than one ounce. Not only would 1-1/2 oz silver coins not be practical if the need ever came to use them as money, but

North Korea linked to $81 million theft

According to Symantec, North Korea probably is responsible for the $81 million theft from Bangladesh’s central bank.  Researchers at the digital security firm uncovered “a rare piece of code” that had been seen in previous hacking cases by North Korea. The theft is believed to be the first by a nation for purely financial gain. 

ECB to stop printing €500 notes

In what is being reported as an effort to impede criminal activity and terrorism, the European Central Bank announced that it will discontinue issuing €500 notes around the end of 2018.  However, the ECB was quick to affirm that the €500 notes already in circulation “will remain legal tender and . . . always retain

War on cash

A former head of the UK’s Standard Charter bank proposes that the war on cash be ratcheted up. ln a paper published Sunday, Peter Sands demonized large banknotes, saying they are “king among terrorists, drug lords and tax cheats.” According to him, Illicit money flows are estimated to run up to $2 trillion a year.

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