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    New York : One Bitcoin is valued above $ 50,000. Photo: Ozan KOSE / . / . The Bitcoin slumped 16.6% after Janet Yellen, the United States Secretary of the Treasury, warned Monday about the dangers of using cryptocurrency for both investors and the public. Yellen assured that Bitcoin continues unable to establish itself as a payment method And it is “extremely inefficient to carry out transactions”, In addition to the fact that there are significant doubts about the legitimacy and stability of the cryptocurrency. “I don’t think bitcoin is widely used as a transaction mechanism,” CNBC’s Andrew Ross Sorkin told CNBC. “To the extent that it is used, I am afraid it is often for illicit financing. It is an extremely inefficient way to transact plus the amount of energy consumed in processing those transactions is staggering, “said Yellen. Experts have pointed to Bitcoin...
    CAIRO (AP) — Sudan announces it is floating its currency, part of measures necessary to overhaul the country’s ailing economy. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    London (CNN Business)Tesla CEO Elon Musk has declared his support for bitcoin, boosting the price of the cryptocurrency in the process. In an interview Sunday on audio-only social app Clubhouse, Musk said he should have bought the digital currency eight years ago. The audio was no longer available on Monday, but many listeners posted the interview on other platforms, including YouTube."I do at this point think bitcoin is a good thing. I'm late to the party, but I am a supporter of bitcoin," he said. The price of a single bitcoin spiked a little more than $1,000 to about $34,500 on Monday before easing back again. Bitcoin is up more than 260% over the past 12 months and a number of high-profile money managers, including Paul Tudor Jones and Stanley Druckenmiller, have embraced the cryptocurrency. Investors also have a growing number of ways to gain exposure to bitcoin in traditional...
    Controversial cryptocurrency bitcoin has wildly outperformed the stock market, the dollar and even gold As the old adage has it, it's an ill wind that blows no good. While the pandemic has led to almost two million deaths globally, the loss of countless jobs and seen a terrible toll in mental health, not everyone has had such a bad year. For a start, Silicon Valley bosses and tech enthusiasts have, in many cases, profited mightily from coronavirus and the world's accelerated shift online. Amazon chief Jeff Bezos has become the first person in history to be worth $200 billion (£146.8 billion).  And the world's most famous digital currency, bitcoin, has been no exception.  The controversial cryptocurrency - which exists only online and whose chief attraction is its freedom from government and bank interference - started the year saddled by its reputation as a tool used by money-launderers and tax-dodgers.  Doomsayers...
    Vehicles drive by the US Treasury Building in Washington, DC on November 15, 2011.Karen Bleier | AFP | Getty Images The amount of currency in circulation soared at a rate unseen since World War II last year, providing what historically has been a good sign for the economy. Amid a massive influx of cash both from fiscal and monetary authorities, the total currency in circulation soared to $2.07 trillion by the end of the year, according to Federal Reserve data. That marked an 11.6% gain from a year ago and was the biggest one-year percentage increase since 1945, as the nation was coming out of World War II and the military-industrial complex took hold. Zoom In IconArrows pointing outwards A major reason was the $2.2 trillion stimulus bill the government passed in May, along with Federal Reserve digital money-printing that took saw the central bank balance sheet swell by more...
    LONDON (awp / dpa) – The London Stock Exchange rose on Friday, supporting slightly better retail sales than expected in November and a slightly lower pound supporting multinational stocks. The FTSE-100 key stock index rose 0.52% to close at 6:584.99 points around 08:50 GMT. “Slow progress in negotiations for a post-Brexit trade deal weighs the pound,” said Richard Hunter, an analyst at Interactive Investor. The British currency fell 0.26% to 35 1.3548 and the euro fell 0.18% to 90.51 pence. In addition, investors welcomed lower-than-expected retail figures in November (-3.8%), with regulatory measures taken across the country to face the second wave of the month. New corona viruses. PD (-0.40% to 138.00 pence): PT’s broadband network subsidiary OpenReach has announced it will create 2,500 direct jobs in the UK, or upgrade telecommunications infrastructure across the country to modernize, including with 5,300 suppliers. Multinationals: The decline of the British currency automatically...
    The extraordinary true story of an engineer who 'built his own nation' on a 4,000 sqft platform off the coast of Italy in 1968 is told in a new Netflix drama. In the late 1960s, Giorgio Rosa, an Italian engineer, created an island in the Adriatic sea, which had its own government and currency as well as a restaurant, bar, souvenir shop and even a post office. The Republic of Rose Island became a haven for party-loving students who travelled by boat from across Europe and home to Rosa.   The island was a symbol of freedom and attracted like-minded people looking to escape the confines of traditional society but only existed for two months in 1968 before it was occupied by Italian police forces. It was demolished a year later The story has been brought to life in a new Netflix film, Rose Island, starring The Undoing's breakout star Matilda...
    VIDEO1:0101:01Virus surge is preventing a stronger dollar, currency expert Win Thin saysTrading Nation It may take months for the dollar to stage a comeback. Brown Brothers Harriman's Win Thin warns it will continue to weaken due to the surge in coronavirus cases. "What I'm focused on near-term is really the virus numbers and the resulting slowdown here in the U.S. in Q4 and parts of Q1," the firm's global head of currency strategy told CNBC's "Trading Nation" on Monday. "No. 1, we have to control the virus." According to Thin, the greenback will likely slide another 4% to 5% from current levels. Since the March 23 stock market low, the U.S. Dollar Index has shed 10% of its value. Even with Monday's gain, it's still near three-month lows. "If Mr. Biden can come in [and] set a strong precedent for some kind of national strategy on controlling the virus and get...
    Police squared off with hundreds of anti-lockdown protesters in Bristol and Liverpool as resentment spreads throughout the country against Prime Minister Boris Johnson’s draconian coronavirus restrictions. On Saturday, mass demonstrations organised by the anti-lockdown group Stand Up X were held across the country in response to the decision to place England under a second national lockdown by the Conservative Party government. Police in Bristol said that they arrested 14 protesters and police in Liverpool arrested a further 16. “We recognise the right to freedom of expression but protests aren’t currently allowed,” Bristol Police wrote on social media, adding: “COVID-19 is deadly and the restrictions are in place to prevent its spread. We continue to urge people to go home.” Ominously, the police force went on to warn that “CCTV and specialist evidence gatherers are recording the protest” — meaning that more arrests and fines are likely to be inflicted upon...
    VIDEO3:1203:12Stars are 'really lining up' for a stronger Chinese yuan: UBSStreet Signs Asia SINGAPORE — The Chinese yuan is set to see further gains in the short term, according to UBS Global Wealth Management's Dominic Schnider. "The stars are really lining up for a stronger (Chinese yuan)," Schnider, head of commodities and Asia-Pacific foreign exchange/macro at UBS told CNBC's "Street Signs Asia" on Wednesday. The Chinese currency has strengthened significantly so far this year, and data releases continue to show the country powering ahead of its global peers in its recovery from the coronavirus pandemic. As of Friday morning Singapore time, the onshore Chinese yuan sat at 6.6891 against the greenback, nearly 4% stronger since the start of the year. The Chinese currency's offshore counterpart — which trades more freely than the onshore yuan — traded at 6.689 per dollar. It has also gained almost 4% against the U.S. dollar...
    VIDEO4:2004:20Turkish policies have become too 'hard-headed', says professorCapital Connection Turkey's embattled currency hit another record low on Thursday, touching 7.95 to the dollar as it continues its relentless march toward an unprecedented 8 lira to the greenback. Economic analysts have expressed exasperation for the past several weeks at the policy decisions coming from Ankara, arguing that the currency's troubles are self-inflicted.    "If you look at the policies, (they have) become very hard-headed. And frankly trying to make something logical out of the irrational has become difficult," Angus Blair, a former investment banker and current professor at the American University of Cairo, told CNBC's "Capital Connection" on Thursday.  The dollar has gained some 33% against the lira year to date, buying 5.945 of the Turkish notes at the start of this year. But the currency had already been on a long weakening trajectory due to the country's unusual monetary policies, notably...
    Bank notes of the Chinese yuan, Japanese yen and the U.S. dollar.Zhang Peng | LightRocket via Getty Images SINGAPORE — China's recent purchase of Japanese government bonds surged to the highest level in more than three years – as the country more than tripled its holdings between April and July this year, compared to the previous year. During those three months in 2020, China bought 1.46 trillion yen ($13.8 billion) of medium- to long-term JGBs on a net basis, according to Japanese media Nikkei, which cited data from Japan's finance ministry and its central bank. That was 3.6 times more than the same period last year. In comparison, the U.S. increased its purchases by only 30% in the same period, that data reportedly showed. Europe, meanwhile, sold off 3 trillion yen worth of JGBs, according to Nikkei. Yields on JGBs are around zero, making them an unlikely option as an...
    Meeting today in Berlin, the finance ministers of France, Germany, Italy, the Netherlands and Spain called on the European Commission to develop strict regulations for stablecoins, in particular for Facebook’s Libra: “Stablecoins should not be allowed to operate in the European Union until legal, regulatory and supervisory issues have been resolved. “ “We mark our rejection of any private cryptocurrency initiative. Only the ECB can issue currency in the Euro Zone. »- Bruno Le Maire. Sources: twitter.com/BrunoLeMaire – euractiv.com – iol.co.za Previous articleJack Dorsey: “Bitcoin, the native currency of the Internet”
    (Bloomberg) – The president of the European Central Bank, Christine Lagarde, has a new challenge to worry about in addition to a fragile economic recovery and deflation: the appreciation of the single currency. The euro jumped 12% in just five months since the coronavirus quarantines began, surpassing $ 1.20 on Tuesday for the first time in more than two years. Investors say more earnings are possible in the future, and two senior ECB officials have acknowledged they are watching. “The euro-dollar rate is important,” Philip Lane, the ECB’s chief economist, told an online conference Tuesday night, causing the single currency to cut its gains. “If there are forces that move the euro-dollar exchange rate, that feeds on our world and European forecasts and that, in turn, feeds our monetary policy framework.” The euro’s rise is just one part of a broader trend of dollar weakness that...
    Dana White on Corey Andersons Bellator switch: He can be more competitive there Dont waste your money on these useless car products The dollar may slide further, but analysts say its demise is greatly exaggerated The greenback had benefited as investors flew to safety amid the pandemic, which drove it to a three-and-a-half year high in March. But strategists say the country's economic recovery is in question, given its weak coronavirus response. The dollar had also reacted to the country's surging deficit and the prospect of U.S. interest rates remaining lower for longer. Analysts argue, however, that recent fears that the dollar may lose its status as the world's reserve currency are overblown. © Provided by CNBC The weakening U.S. dollar is set to slide even further, but its importance as the world's reserve currency is unlikely to be diminished, according to analysts. Load Error The...
    mediamasmedia The weakening U.S. dollar is set to slide even further, but its importance as the world's reserve currency is unlikely to be diminished, according to analysts. The greenback had benefited as investors flew to safety amid the pandemic, which drove it to a three-and-a-half year high in March. But now strategists say the country's economic recovery is in question, given its weak coronavirus response. The dollar had also reacted to the country's surging deficit and the prospect of U.S. interest rates remaining lower for longer. The dollar index fell to a 27-month low last week at 92.477, a steep decline from its 102 level in March. Since then, it has been fluctuating, swinging between the 92 and 93 levels in the past week. It was last at 93.150 on Monday. "U.S. economic outperformance relative to the euro area and Japan (no longer) seems guaranteed, at least over the next...
    He Mexican peso has a difficult week with ups and downs, although minimal, against the dollar. US currency is sold at $ 22.07 pesos in interbank transactions –that is, for large amounts–, while in banks and exchange offices it has a range between $ 22.12 and the $ 22.55 pesos, according to reports from institutions such as Citibanamex and BBVA Bancomer. Figures that could change during the day. IMPORTANT: The Mexican currency added a second day of losses, but this Wednesday it is trying to recover, something that will be complicated in the face of the adverse scenario due to the uncertainty of the economic route in the US without an economic stimulus plan, coupled with the complexity generated by the process electoral. Losses in the peso are minimal, largely due to the poor performance of the dollar. The US currency loses to the euro, the yen and...
    Callaway Big Bertha B-21 family 18 Secrets and Hacks for Shopping at Ikea The euro is at its highest since May 2018 — here’s why that means more stimulus may be on the way The European currency traded at $1.19 on Tuesday (EURUSD) up almost 7% since the beginning of the year and more than 11% since March 20, around the time lockdowns were being implemented throughout the continent. © Getty Images A child swings in a park in front of the European Central Bank headquarters in Frankfurt, Germany. The European currency’s rise makes the ECB’s task more difficult. - The European currency is now at its highest since May, 2018, and was boosted last month by the European Union’s agreement on a €750 billion ($823 billion) coronavirus recovery fund financed by joint borrowing. It has also risen 7% (EURGBP) against the pound sterling since the beginning of the...
    He Mexican peso It had achieved its best days since March, but fell back against the dollar again. The US currency is sold to $ 22.15 pesos in interbank transactions –that is, for large amounts–, while in bank and exchange offices it has a range between $ 22.20 and the $ 22.45 pesos, according to reports from institutions such as Citibanamex and BBVA Bancomer. Figures that could change during the day. IMPORTANT: Although the US currency continues its losing streak in several important markets, the Mexican currency was affected by negative internal economic data and a lack of internal confidence. The American currency yields before the euro, the yen and the pound sterling.
    IN its short years of existence the cryptocurrency Bitcoin has seen a meteoric rise in its value punctuated by some dramatic falls making hundreds of early investors extremely wealthy. But what is it, how do you use it and is it safe? Here is everything you'll need to know... 3 The digital currency was created in 2008Credit: Getty - Contributor What is Bitcoin? Bitcoin is a virtual currency that was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto. Individual Bitcoins are created by computer code and their total value is thought to exceed £251.8billion. Transactions are made without middlemen, so there are no transaction fees and no need to give your real name. More businesses are beginning to accept them and in some parts of the world, you can even buy pizza with Bitcoins You can set up a virtual wallet website like Blockchain to...
    The last days, the Mexican peso It made some gains, but the weekend seemed to go backwards and this Monday opens with a better scenario against the dollar. The US currency is sold to $ 22.07 pesos in interbank transactions –that is, for large amounts–, while in bank and exchange windows it has a range between $ 22.10 and the $ 22.50 pesos, according to reports from institutions such as Citibanamex and BBVA Bancomer. Figures that could change during the day. IMPORTANT: The Mexican currency made gains after a further decline in the dollar in various markets amid uncertainty over a trade war with China, although on Monday the US currency could push with the presentation of the new stimulus plan against the coronavirus. The US currency appears to have found stability after losses against the euro, the yen and the pound sterling.
    Mexico City. Today Wednesday July 1, 2020 the dollar listed on $ 22.93 pesos, according to the investing.com platform. Such figure represents a slight recovery in the national currency, which started yesterday at June 30 at 23.18 units. This represented one of the few days with gains for the weight. And it is that both the currency and the Mexican Stock Exchange have suffered the effects of nervousness among investors due to the increase in new patients with Covid-19 in various countries of the world. Read: Advance IMSS pension payment for the month of July Read: IMSS Modality 40, the most convenient for a pension by Law 73 Exchange rate for sale in the interbank market (spot) today Tuesday June 30:09.00 hrs .: 23.1810 p / d13.30 hrs .: 22.9570 p / dhttps: //t.co/y9Qp78Eilr – Banco de México (@Banxico) June 30, 2020 In the first six...
    (Bloomberg) – The world’s most volatile and worst performing currency is likely to remain the same, weak and volatile, for the rest of the year. The Brazilian real has fallen 24% against the dollar in the year to date, plagued by an endless series of political scandals, rising debt levels and low carry. Although the real seems cheap, when observing the effective exchange rate —a rate adjusted for inflation in relation to the currencies of Brazil’s main trading partners—, it is not expected to recover in the short term. The currency has been devalued since former President Dilma Rousseff’s second term five years ago, and the economic context is not improving. The difference between the nominal and effective exchange rates was little changed, even when the real collapsed this year over concerns that the coronavirus pandemic would prevent the economy from benefiting from the fiscal impact of the pension reform...
    New York — Following its debacle last week, the Mexican peso opens a new period with a negative forecast against the dollar. The US currency is sold to $ 22.36 pesos in interbank transactions –that is, for large amounts–, while in bank and exchange windows it has a range between $ 22.40 and the $ 22.70 pesos, according to reports from institutions such as Citibanamex and BBVA Bancomer. Figures that could change during the day. IMPORTANT: The Mexican currency added two continuous weeks of losses and this Monday opens with little hope, although with minimal progress. The economic reopening in the US and in Mexico in the midst of the coronavirus pandemic could change the results, but the WHO alert on the advance of COVID-19 maintains investors’ concern. The dollar achieves stability against the euro, the pound sterling and the yen.
    (CNN)As businesses struggle to stay afloat during the pandemic and a record number of Americans have lost their jobs, one small city in Washington state put forth a creative solution to help its neediest residents pull through: printing their own money, out of wood.In Tenino -- a community of less than 2,000 people halfway between Seattle and Portland -- residents who can demonstrate an economic hardship caused by the pandemic can receive up to $300 a month in wooden dollars, subsidized by a City Hall grant program. The bills are made of wood veneer and are each worth $25. They can be used to purchase necessities and services from licensed or certified providers, as specified in the guidelines by Tenino's City Hall. The wooden dollars cannot be redeemed for cash -- the maximum change allowed is 99 cents -- and they can't be used to purchase alcoholic beverages, tobacco or...
    Stephen Roach, Yale University senior fellow and former Morgan Stanley Asia chairman, has a warning for US dollar bulls. The prominent economist says that the era of the US buck may be coming to an end and is forecasting a 35% decline soon in the US currency against its major rivals, citing increases in the nation’s deficit and dwindling savings. The lecturer said during CNBC’s “Trading Nation” on Monday that the rise of China and the decoupling of the US from its trade partners is setting the stage for a dramatic weakening of the US currency in the next few years that is likely to end the supremacy of the monetary unit as the world’s reserve currency. “The dollar is going to fall very, very sharply,” he told the business network. Roach’s comments follow a similarly themed op-ed that he wrote in Bloomberg last week, in which he specifically declared...
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