Currency

After two days of grilling by US politicians (including demands for a moratorium and fearmongering of the end of banking and the ease of funding terrorism) and endless byelines supporting and denigrating Facebook’s new digital currency concept, Libra, one would suspect that it is Americans that should be most interested in Zuckerberg’s latest idea for world domination.

That would be wrong.

Perhaps not entirely surprising, it is in fact the Chinese, based on global search volumes, that are the most interested in Libra.

This is ironic since, as we noted in 2015, it was soft capital controls by Chinese authorities that sparked the big run-up in cryptocurrencies as an alternate store of wealth (to avoid government interference)….CLICK for complete article

How Malta Is Becoming the Global Capital of Crypto

Some things never change, like the Megalithic Temples built in Malta over 5,000 years ago. These days, however, that may be the only thing that remains unchanged in Malta. With a population of just under half a million and being mostly famous as a destination for European teenagers to study English during their summer vacation, Malta has recently become a star on the crypto map.

Having already had a positive experience hosting online gambling companies, which makes up a very significant portion (13%) of Malta’s GDP, the island is now turning its head toward the world of crypto in an effort to repeat its previous success. A lucrative tax incentive system, government initiatives, and clear and friendly crypto regulation are bringing fruitful results: Many large cryptocurrency exchanges, such as OKEx and Binance, have already established their headquarters in Malta….CLICK for complete documentary

The Problem With Modern Monetary Theory

Fans of the improvisational comedy program Whose Line Is It Anyway? may recall host Drew Carey describing it as “the show where everything’s made up and the points don’t matter.”

Interestingly, if we replace “show” with “economic doctrine,” and “points” with “money,” we end up with a near-accurate description of modern monetary theory (MMT).

You may have noticed MMT trending in the news in the past few months, thanks in large part to the fact that it’s supported by a number of far-left socialist politicians such as Bernie Sanders and Alexandria Ocasio-Cortez (AOC).

I’m bringing it up now because the first round of Democratic presidential debates were held last week, and if you happened to tune in, you were likely treated to some policy proposals that seem to fall into the MMT camp, even if the term was never uttered. Think “Medicare for all,” free college tuition and the wholesale cancellation of $1.6 trillion in student loan debt. Then there’s the Green New Deal, which AOC recently admitted could cost upwards of $10 trillion….CLICK for complete article

Bitcoin Price Back Above $11,000 as Dip ‘Consistent’ With Parabolic Bull Run

Bitcoin (BTC) corrected as low as $10,380 before rebounding above $11,000 on June 27 as commentators remain highly bullish about the market’s potential. Data from Coin360 showed the bitcoin price dipping down from recent highs of $13,800 in a pullback many had anticipated.

BTC/USD gained rapidly throughout this week and last, adding thousands of dollars over several days before resistance at $14,000 finally checked the speed of the growth.

Estimates had said the pair could go as high as $16,000 before reversing, with Cointelegraph reporting on Thursday that breaking the $13,800 barrier could now prove significant….CLICK for complete article

Bitcoin Breaks $13,000 As Rally Continues

BTC broke the $12,000 level earlier today, and has continued surging to trade at $13,252 at press time. The leading coin has gained over 16% on the day. Today, Bitcoin’s market dominance climbed to over 60% for the first time since April 2017.

Bitcoin’s recent rally has caused a stir in the crypto community, wherein some of its players have made predictions on its further price dynamics. Today, eToro analyst Simon Peters claimed that BTC prices could match their all-time high of $20,000 within the next two weeks — and could hit $50,000 or $100,000 by the end of the year….CLICK for complete article

Will Bitcoin Bounce Back?

Bitcoin has been doing very well in 2019, as the cryptocurrency has already more than doubled from around US$4,000 at the start of the year to Monday getting close to US$11,000. It’s a big recovery. Many people thought that Bitcoin was dead after crashing in 2018 after peaking at around US$20,000 in late 2017. Concerns about safety and security have had disastrous impacts on the adoption of the digital currency, especially with companies banning it and making it hard for prospective investors to learn about it.

However, since mysteriously receiving a big order this year, it’s been gaining traction and made a good recovery. While it still has a long way to go to getting back to its previous highs, there’s definitely interest in crypto again, and it’s even more impressive now that it has been able to rise given the obstacles that Bitcoin still faces today….CLICK for complete article