U.S.

Printing Money from Thin Air – How the Fed Reduces Purchasing Power and Makes You Poorer

</header> <strong>Unless you have your head in the sand, you’ve probably realized that governments and central banks can print money out of thin air and in unlimited amounts. The United States and the Federal Reserve have been creating money from nothing for years because they had exhausted all their monetary policies. Despite the fact that …

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World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic

</header> <strong>The spreading coronavirus infection is taking a toll on the global economy and traditional financial institutions are already hurting. The world’s largest banks have seen their stocks losing value over the past weeks and months while facing cash withdrawal pressure and preparing to deal with a shrinking asset base. </strong> Also read: US Cash …

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#NotDying4WallStreet – Twitter Trends Show People Are Fed Up With Wall Street, Banks and Oligarchs

</header> <span><strong>As the coronavirus outbreak causes havoc to the world economy, the U.S. is trying to prepare for the onslaught of new cases. U.S. politicians crafted shelter-in-place orders in various states and shut down a decent fraction of American industries. Now politicians are penning an enormous bailout package and American citizens are fighting about whether …

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‘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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Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies

</header> <strong>In a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies. </strong> Also read: Russians Can Use Qiwi, Sberbank, …

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Bitcoin Trust GBTC Shares Spike Despite 30% Premium

</header> <strong>Bitcoin and cryptocurrency prices have seen significant gains as the entire cryptoconomy is up more than 40% since mid-December. Grayscale’s Bitcoin Trust (GBTC) has also seen an uptick and shares have climbed 9% this week. The news follows the asset manager’s recent registration as a reporting company with the Securities and Exchange Commission (SEC) …

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US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the Sector

</header> <strong>Financial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has seen an increasing number of crypto clients throughout the year. </strong> Also read: Swiss …

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Telegram Rejects SEC Request to Hand Over Bank Records for TON

</header> <strong>Telegram Group, the company behind the TON blockchain project, has reportedly refused to share information with the SEC showing how much it spent of the $1.7 billion raised from investors in the past couple of years and where. In a recent court filing, the securities regulator alleges that Telegram has declined to provide bank …

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China Takes Another Step Away From USD Hegemony

</header> <strong>The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further …

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Greek Court Suspends Decision to Extradite Alexander Vinnik

</header> <strong>The Supreme Administrative Court of Greece has suspended a decision to extradite the alleged BTC-e operator Alexander Vinnik. The temporary measure has been imposed to allow the review of an appeal against the extradition. The Russian national, accused of laundering billions of dollars through the now defunct cryptocurrency exchange, started a new hunger strike …

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