Search Results for: Fiat Crisis

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet

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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially…

Market Analyst Heralds the Collapse of ‘Everything,’ Calls for Hedging in Gold and Silver Before There Isn’t Any Left

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Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face…

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts…

As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created

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109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased…

Binance Launches Billion-Dollar Crypto Industry Recovery Fund to Restore Confidence After FTX Meltdown

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Binance has committed $1 billion to a crypto industry recovery initiative to restore confidence following the collapse of crypto exchange FTX. Several other crypto companies have joined Binance’s efforts and committed capital for the recovery fund. Crypto Industry Recovery Initiative Launched…

FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues

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While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback. While the dollar slumped on October 13,…

S&P Global Report Says EU and UK Are in a Recession, Putin Thinks the West Is Greedy

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Today’s blustery global economy has everyone on edge as inflation has wreaked havoc on the wallets of ordinary people and energy prices continue to soar worldwide. According to Credit Suisse, “the worst is yet to come,” as the global investment bank’s…

Get Real, Lagarde — The Underlying Asset ‘Guaranteeing’ Your Euro Scam Coin Is a Gun

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With the approaching tsunami of central bank digital currencies (CBDCs) looming ever closer, it shouldn’t come as a surprise when central banks shill their coins at the expense of sounder assets. Recently, European Central Bank president Christine Lagarde went so far…

‘Dr. Doom’ Nouriel Roubini to Launch Tokenized Dollar Replacement — With Payment and ESG Features

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Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” is developing a tokenized asset intended to be a more resilient U.S. dollar. “Our goal is to create a global store of value … This is something akin to a substitute…

Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is Applied

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The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet in a country that has just exited…