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Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic devaluation of the Argentine peso and the 100%+ interannual inflation that Argentina
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Economist Peter Schiff has warned of “the biggest economic disaster” in U.S. history. He stressed that we are on the cusp of a financial crisis and “it’s going to be much bigger than the last.” In addition, he said the U.S. dollar is being debased in order to fund the
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The Central Bank of Bolivia is now selling dollars directly to citizens in order to curb what it is calling a speculative attack that has increased the demand of the population for foreign currency. This rise in demand has been caused by several factors which led the population to believe
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According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Nigeria needs to dismantle “the various exchange rate windows at
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According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina,
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A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the currency’s exchange rate reportedly touched a new low of just under 750 naira for
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The Nigerian presidency has denied reports that the country’s Vice President (VP), Yemi Osinbajo, was calling for the devaluation of the local currency when he recently questioned the naira’s official exchange rate. The Huge Arbitrage In fact, according to a report that quotes Laolu Akande, the VP’s assistant, Osinbajo is against
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The U.S. Federal Reserve and the rise of “zombie companies” is prompting investors scramble to hedge against inflation using bitcoin and gold.That’s according to Mark Yusko, founder and CEO of investment firm Morgan Creek Capital Management, who spoke with CNBC’s Fast Money host Melissa Lee on Thursday.Yusko took aim at
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Hany Rashwan, CEO of Amun/21Shares, explains how the proverbial bitcoin lightbulb went off when his native Egypt’s currency devalued in 2016.Hany Rashwan is the CEO of Amun/21Shares, the creator of a variety of publicly traded crypto products with over $100 million assets under management. In this conversation, he and NLW discuss: Source
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This week’s “Long Reads Sunday” reading is from macro analyst Lyn Alden and focuses on the inflation vs. deflation debate in historical context. When monetary policy is effective versus when fiscal policy needs to take over How short-term debt cycles add up to long-term debt cycles that have very different remediesWhy long-term
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