Economy – Page 9 – Ƀitsell X

Unlike Father, Spencer Schiff Calls Depression Warning ‘Fearmongering,’ Predicts Hyperdeflationary Boom, Bitcoin Crash; Banks on AI Future

July 20, 2023

In response to a Zerohedge article titled “The Two Causes of the Coming Great Depression,” Spencer Schiff, son of gold advocate Peter Schiff, labeled the argument “pure fearmongering.” Spencer said he has distanced himself from his dad’s views and now predicts a “hyperdeflationary economic boom.” Notably, the former staunch bitcoin supporter anticipates BTC’s price will…
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Bitcoin and crypto brace for further upside as equities look to extend their recent gains

July 17, 2023

A variety of macro factors propelled the recent rally across several asset classes, but analysts are at odds regarding the sustainability of the current bullish trend. The long-awaited recession and resulting resumption of the 2022 bear market that many have been expecting have failed to materialize so far in 2023. In fact, most assets have…
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US Inflation Hits Two-Year Low, Boosting Stocks and Precious Metals

July 13, 2023

On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months, with the index rising 0.2% on a monthly basis. Labor Department’s CPI Data Shows…
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Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks

July 12, 2023

The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month. Dollar-Pegged Cryptos Feel…
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The first-world debt crisis means you can expect more pain ahead

June 12, 2023

You should be prepared for gradual deterioration in your quality of life — or search for alternative assets that could protect your wealth. The huge volume of sovereign debt in developed countries (particularly the United States) is often exploited to promote questionable theories about imminent financial collapse. However, the problem is real, and it has…
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IMF Urges Fed to Maintain Tightening Policy Amid Inflation Concerns, Citing ‘Challenges’ Ahead

June 9, 2023

On Thursday, International Monetary Fund (IMF) spokesperson Julie Kozack urged the U.S. Federal Reserve and several other central banks to maintain a restrictive monetary policy known as tightening. Kozack stated that the U.S. central bank may need to keep the federal funds rate higher “for longer” than anticipated. IMF Calls for Extended High Interest Rates…
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Stablecoin Economy Reaches 20-Month Low as BUSD Redemptions Surpass 10 Billion Tokens in 3 Months

May 31, 2023

Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have been redeemed thus far. Within the span of the last 30 days, slightly more than…
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Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand

May 22, 2023

Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that people’s anxiety about the purchasing power of…
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De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov

May 21, 2023

The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency. Russia’s Sergey Lavrov Announces Beginning of De-dollarization of Global Economy Russian…
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S&P Global Finds Ties Between Crypto and Macroeconomic Changes in Latest Report

May 12, 2023

Cryptocurrency is still tied to the effects of macroeconomic changes despite drivers such as technology and market sentiment, according to S&P Global’s latest report. The authors of that US-focused report looked into how monetary policy affects crypto, whether a perception of a possible recession matters for crypto and whether financial stress spills into those markets…
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Tag: Economy