Economics

Biden Economics: US Jobs Report Lackluster, Unemployment Extensions Hammer Supply Chain, Americans Want More Stimulus

<div class=”featured_image_container”> </div> <strong>Recent headlines in numerous publications claim the U.S. economy is set for rapid expansion and a “post Covid boom” thanks to Joe Biden’s economic plans. However, contradicting reports identify certain struggling elements, such as the supply chain, which have been ravaged by bureaucratic mandates, and suggest a bleaker circumstance entirely.</strong> Biden Administration …

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Japanese Assembly Members Seek to Make Tokyo a ‘Cryptocurrency Trading Center’

<div class=”featured_image_container”> </div> <strong>Japan is steadily becoming an area of interest for the cryptocurrency industry, and a politician in the capital city is looking to strengthen the trend. A member of the Tokyo Metropolitan Assembly wants to transform the Japanese capital into a “trading center” for cryptos.</strong> Blockchain as a ‘Growth Strategy’ to Create Industry …

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Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies

<div class=”featured_image_container”> </div> <strong>Central bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon.</strong> The National Bank Released a Public Consultation Paper According to the announcement published on …

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Crypto Derivatives Exchange FTX Starts Offering Lumber Futures Amidst Commodities Price Boom

<div class=”featured_image_container”> </div> <strong>FTX, one of the largest derivatives exchanges, has started to offer lumber-based futures markets for its customers, given the recent interest in speculating on commodities prices. Lumber has been one of the key commodities that have skyrocketed in price during these last months, affecting and halting many building projects all across the …

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ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms

<div class=”featured_image_container”> </div> <strong>Faced with challenges on many fronts, the European Central Bank is now deepening the analysis of how to digitalize its currency. A decision on whether to issue a digital euro, which has the potential to become a major CBDC, is expected around mid-2021, a high-ranking official of the central bank has confirmed. …

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Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token

<div class=”featured_image_container”> </div> <strong>Venezuela’s government-backed cryptocurrency is not having the acceptance its cabinet expected, as the latest reports suggest. The petro’s creator, who now lives in exile, wants to build another crypto that gets the adoption its original creation did not in the nation.</strong> Jiménez Believed the Petro Could Have Given Venezuelans a ‘Measure of …

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Survey: 14% of Russians Think Cryptocurrencies Will Oust Fiat in 10 Years

<div class=”featured_image_container”> </div> <strong>A new survey revealed the different stances of Russians toward cryptocurrencies and fiat currency. Specifically, some of the respondents believe digital assets will replace fiat in ten years.</strong> Residents in Moscow Believe Cryptos Will Replace Fiat, While Others Are Skeptical According to Nord News, the research was conducted by Otkritie Bank, a …

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The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

<div class=”featured_image_container”> </div> <strong>The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and …

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Joe Biden’s Proposal to Double Capital Gains Tax Rate Shakes Financial Markets

<div class=”featured_image_container”> </div> <strong>The Biden administration has revealed plans to raise taxes on investors who are millionaires according to a flurry of recent reports. President Joe Biden wants to overhaul the U.S. economy in order to help fund American childcare and education. Biden’s proposal will almost double the current capital gains tax rate from 20% …

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Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency

<div class=”featured_image_container”> </div> <strong>Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. </strong> Exchange …

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