Economics

‘Central Banking Is Socialism for the 1%’ – Report Cites Wealth Inequality Driven by Stimulus

</header> <strong>For a while now, central banks like the Federal Reserve have been participating in quantitative easing (QE) practices, despite the fact they don’t like to call it QE. Following the massive dollar injections, a recent report from the wealth insights provider Wealth-x details the number of wealthy people in the world spiked in 2019. …

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Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates

</header> <strong>The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that …

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Curious About Bitcoin, Nigerians See Increasing Opportunities to Buy and Spend Cryptocurrencies

</header> <strong>Higher prices since the start of the year have been restoring popular interest in cryptocurrencies. Google searches for “bitcoin” have increased since December to about half of those registered in June last year. There’s one country that sticks out as a benchmark for the indicator. Nigeria has consistently topped the chart in the past …

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Bitcoin and Doomsday Preppers — Would Crypto Have Any Survival Value If SHTF?

</header> <strong>As so-called “doomsday prepping” grows in popularity thanks to news of coronavirus lockdown in Chinese cities, red flag gun laws and rampant Fed stimulus in the U.S., preparedness enthusiasts are asking about the viability of bitcoin in a SHTF situation. From cautious, light investor, to vehement denigrator of the “NSA-created surveillance money,” there is …

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China Stocks Plummet Despite 1.2 Trillion Yuan Injection to Mitigate Effects of Epidemic

</header> <strong>China’s stock market plunged Monday under selling pressure accumulated during a prolonged holiday. Investors have been worried by the coronavirus outbreak that’s already taken the lives of more than 360 people. Beijing authorities have responded by pumping well over a trillion yuan into the country’s economy and financial system. </strong> Also read: China’s Inflation …

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Hierarchies of Money: Why You Use Bank Money But the Bank Wants Reserve Currency

</header> <strong>While people tend to think of money as being all the same, the fact is governments and banks use different types of money than the everyday individual. From the top of the economic pyramid of world reserve currencies, down through central bank and commercial bank money, the capacities and function of different kinds of …

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Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash Survive

As China (and India) develop electronic, crypto, and peer-to-peer strategies, the epicentre of global economic power could shift. China is working on a digital currency backed by its central bank that could be used as a soft- or hard-power tool. In fact, if companies doing business in China are forced to adopt a digital yuan, …

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Three High Profile Crypto Networks Face Reward Halvings This Spring

</header> <strong>This spring, three of the largest crypto networks, <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a>, <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BCH” target=”_blank” rel=”noopener noreferrer”>BCH</a>, and <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BSV” target=”_blank” rel=”noopener noreferrer”>BSV</a>, will undergo their halvings around the same time for the first time in history. During the last halving in 2016, only one network existed, but now three …

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ECB Keeps Subzero Interest Rates and Open-Ended QE Worth €20B a Month But Launches Policy Review

</header> <strong>The European Central Bank (ECB) has launched an extensive review that will examine a wide range of its policies by the end of this year. Under its new president, Christine Lagarde, the bank will try to establish why its monetary stimulus has failed to achieve the Eurozone’s goal of close to 2% inflation. Sharing …

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Trump ‘Loves’ Negative Rates and ‘Could Get Used to’ Them, Criticizes Fed at World Economic Forum, China Trade Deal

</header> <strong> U.S. President Donald Trump spoke at the World Economic Forum in Davos, Switzerland Tuesday saying the U.S. and other nations are “forced to compete … with nations that are getting negative rates, something very new.” Trump took direct shots at the U.S. Federal Reserve, claiming they’ve not lowered rates quickly enough. The harsh …

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