Saturday, November 26, 2022
Home > Economics

Amazon Founder Jeff Bezos Advises What Consumers and Businesses Should Do as Recession Looms – Economics Bitcoin News

Amazon founder and former chief executive Jeff Bezos has given some advice to consumers and small businesses about what they should do given that the U.S. economy is either already in a recession or is headed into one “very soon.” The billionaire said: “The economy does not look great right

Read More

Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission – Economics Bitcoin News

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

Read More

Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration – Economics Bitcoin News

A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam, reinforces the need for regional integration to overcome common problems in the area, including

Read More

Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’ – Economics Bitcoin News

Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it sets us back a few years.” Binance’s CEO Discusses the Impact of FTX’s Collapse on the Crypto Industry The CEO

Read More

Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees – Economics Bitcoin News

The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed, Inflation, and the Great Depression Ark Invest CEO Cathie Wood,

Read More

World’s Worst Performing Currency, the Cedi, Reverses Gains — Economist Steve Hanke Says Ghana Inflation Now Over 140% – Economics Bitcoin News

Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The cedi’s reversal is said to have dented the currency’s recovery prospects. On the other hand, Ghana’s

Read More

Eliminate Tax Evasion by Digitizing the Full Fiat Currency Supply – Economics Bitcoin News

A proposal to eliminate the physical representation of the Argentine Peso, in order to streamline specific state processes and reduce tax evasion, has been presented by former banker Carlos Maria De Los Santos. The plan, identified as “Argentine Digital Peso,” also predicts that its implementation would lead to lower taxes

Read More

Lebanese Mint, Keep, Spend Crypto Amid Crisis, Report Unveils – Economics Bitcoin News

Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealth and paying in stores, bitcoin, tether and other cryptos have started to push aside the hyperinflated

Read More

While Official Figures Claim Turkey’s Inflation Rate Is 85%, Third-Party Stats Say It’s Closer to 200% – Economics Bitcoin News

Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has risen for 17 consecutive months and last month it reached a 24-year high. Turkey’s Interest Rate Remains Low, While Inflation Runs Rampant Turkey, the

Read More

Silver Rallies 7% Rising Past $20 per Ounce, US Mint Says Fabricators Are ‘Struggling to Keep up With Demand’ – Economics Bitcoin News

On Friday, as the global cryptocurrency market cap jumped 5.4% higher against the greenback, U.S. stocks rallied toward the end of the day with the top four major stock indexes gathering gains. Precious metals also soared as the New York spot price of gold per troy ounce increased by 3.20%,

Read More