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There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However, she warned that if the U.S. were to default […]Powered by WPeMatico
This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar dying are overblown. In addition to Bremmer’s comments, […]Powered by WPeMatico
During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full […]Powered by WPeMatico
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and […]Powered by WPeMatico
Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems. Krugman’s Experience Highlights the Growing Interest in Censorship-Resistant Payment Systems Nobel Prize […]Powered by WPeMatico
Nobel Prize-winning economist Paul Krugman says Tesla may have more in common with bitcoin than you think. He explained that Tesla sales have depended in part on the perception that CEO Elon Musk “is a cool guy” while the price of bitcoin is “being sustained by a hard-core group of true believers.” Paul Krugman Compares […]Powered by WPeMatico
It’s been another wild week in crypto, with a claimed FTX insider revealing a controversial document related to former Alameda Research CEO Caroline Ellison’s account at FTX. In related news, Elon Musk has been criticized for suggesting that former FTX CEO Sam Bankman-Fried (SBF) probably donated much more than publicly admitted to Democrats. Morgan Creek […]Powered by WPeMatico
Nobel Prize-winning economist Paul Krugman has warned about the possibility of a perennial winter for blockchain projects, including crypto. In a recent article published in the New York Times (NYT), the economist criticizes blockchain as a tech and its uses citing several signs that he believes precede this upcoming winter. Paul Krugman Compares Crypto Winter […]Powered by WPeMatico
The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21, […]Powered by WPeMatico
The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession. America’s Q2 GDP Data Points to a Recession One of the principal agencies […]Powered by WPeMatico