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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. dólar. Srinivasan paid a total of $1.5 millón, more than the initially…

Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’

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Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, ha advertido que EE.. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, la…

Gold Slides on Higher US Treasury Yields, Dólar

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Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

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After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Además,…

Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion

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A NOSOTROS. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after…

USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

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The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 en marzo 12, 2023, a 7:20 pm. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would…

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, los Estados Unidos. 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, más que 96% of the greenback’s purchasing power has been erased…

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

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en noviembre. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 puntos básicos (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority…

Professor Steve Hanke Says US Economy Was Flat Over the Last Year, but Stresses ‘It’s Going to Hit South’

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Amid the chaotic economy, plagued with central bank tinkering, supply chain issues, and red-hot inflation, the professor of applied economics at Johns Hopkins University, Steve Hanke believes a “pretty big recession” will take place in 2023. Speaking in an interview on…