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Cryptocurrencies Tumble, With Bitcoin Falling 7% and Ether Down 8% in the Last 24 HoursJan 21, 2022 - 05:11:12 PST
About $147 billion was wiped off the entire cryptocurrency market in the past 24 hours, according to data from Coinmarketcap.com
About $147 billion was wiped off the entire cryptocurrency market in the past 24 hours, according to data from Coinmarketcap.com
As Friedman diagnosed correctly, this rapid inflation was mainly caused by increases in the money supply of over 12% in the years 1971-72 and 1976-77. Instead, Burns attributed the price increases mainly to wage pressures, monopoly power, and the oil shock of the early 1970s. Sound familiar? Inflation is again soaring, and the Fed blames supply constraints caused by the pandemic while neglecting to look at the increasing money supply as the main cause.
Contracts on each of the S&P 500, Dow and Nasdaq traded in the red. A day earlier, the Nasdaq Composite dropped more than 1%, adding to losses after sinking into a correction earlier this week. The Nasdaq has now fallen nearly 12% from its most recent record high from November.
Watch ECB’s Lagarde and IMF Chief Georgieva Discuss the Global Economic Outlook 7:30 a.m. ETJan 21, 2022 - 04:53:51 PST
The Covid-19 pandemic sent the global economy into one of its worst recessions ever. And last year saw supply bottlenecks, surging inflation and new variants weigh further on the recovery.
IMPORTANT MARKET UPDATE JAN 21st: Market, Bitcoin & Tech Stocks Get Hammered, More Next Week?January 21, 2022
Will the Market sell-off continue next week? Today we saw the market, Bitcoin, and tech stocks get hammered. Netflix was down nearly 22% just on reporting weaker growth. What happens if the economy slows enough where Netflix losses subscribers?
Forty-one “curved” Celtic gold coins from 2,000 years ago have been found in northeast Germany in the Brandenburg district where Berlin is located.
Gold and silver touched fresh two-month highs on Thursday lifted by worries surrounding inflation and Russia-Ukraine tensions.
Inflation was a prominent global theme throughout 2021 and is still a key input into 2022 investor decisions. While many central banks (CBs) felt the uptick in inflation levels was temporary on the back of COVID’s impact in the first part of 2021, this consensus shifted in the latter part of the year. Some CBs now acknowledge that inflation is here to stay for longer and are expected to raise rates in 2022.
Melvyn Bragg and guests discuss the age of gold, from 1870, when many nations tied their currencies to gold in the hope of economic stability and increasing trade around the world.
Investing Legend Turns Apocalyptic, Stocks To Crater 50% In Largest Wealth Destruction In USJan 20, 2022 - 12:34:53 PST
The only question we have is how much of a crash can the Fed weather before it capitulates, i.e., what is the level of the Fed put. We are confident that another 10-20% lower - which will obliterate Biden's ratings and Republican avalanche in the midterms, surging inflation notwithstanding - and the market will finally discover what it is looking for.
Mining Bitcoin May Soon Be Banned in Russia, the World's Third Largest Crypto MinerJan 20, 2022 - 11:57:57 PST
The prohibition proposed by Russia's central bank would outlaw all crypto-mining. It would also ban the use of cryptocurrencies in the country.
In a blog post published in the early hours of Thursday morning, cryptocurrency exchange Crypto.com acknowledged that the company had lost well over $30 million in Bitcoin and Ethereum after a hack that took place on January 17th.
“The introduction of a CBDC would represent a highly significant innovation in American money,” says The Fed in its much-anticipated report on the possible issuance of a U.S. digital currency.
The Everything Bubble is bursting, and the Fed has barely even begun its war on inflation. Many top stocks are already in their own bear markets. Nvidia, way off its game, has lost 25% of its value from its last high score.
The increase in German government spending does not alleviate the economic consequences of the corona crisis as Keynesian economists claim. On the contrary, it reduces the resources available for genuine private initiatives. Furthermore, it contributes to the debt race in the eurozone, putting in jeopardy the future of the common currency.
(he squeeze is coming from all sides. U.K. consumer price growth hit a 30-year high of 5.4% in December, and is wiping out wage gains. The Bank of England is jacking up interest rates faster than the Federal Reserve. A cap on domestic energy costs is expected to rise by 50% in April, just as payroll taxes go up ...
Mohamed El-Erian, a Bloomberg Opinion columnist, says the Federal Reserve needs to take "bold" action at the central bank's next two rate-setting meetings to address the threat of rising U.S. inflation. "They've got to be bold come January and March, not just March," he says on "Bloomberg The Open." El-Erian's opinions are his own.
Cash and fixed income investments are guaranteed losers when it comes to inflation. Gold, real estate and stocks appear to be the remaining options.
When one studies the history of money, one cannot help wondering why people should have put up for so long with governments exercising an exclusive power over 2,000 years that was regularly used to exploit and defraud them.