The House of Lords Economic Affairs Committee — an investigative governing body representing the economic interests of the United Kingdom — has released an official report assessing the pertinence of a government-issued central bank digital currency (CDBC). Titled “Central bank digital currencies: a solution in search of a problem?,” the 52-page publication covers a litany
Month: January 2022
Brandon Bell | Getty Images Brace yourself for another competitive year in the housing market. Home sales are expected to grow 6.6% in 2022, a 16-year high, according to Realtor.com. The typical winter lull isn’t even necessarily happening. Home prices actually accelerated from November to December, said Danielle Hale, chief economist at Realtor.com. While Realtor.com
On January 11, 2022, the Washington-based bitcoin mining operation Luxor announced the launch of a new application-specific integrated circuit (ASIC) trading desk. According to the company, Luxor’s new trading desk will give miners and investors access to bitcoin ASIC mining rigs “at a fair market price.” NYDIG-Backed Mining Operation Luxor Reveals ASIC Trading Desk Service
Puerto Rico’s Economic Activity Index was up for the fifth consecutive month in November. The index increased 0.7% from October and 3.5% from November 2020, according to the Economic Development Bank for Puerto Rico. “The economy of Puerto Rico is doing very well,” said Advantage Business Consulting President Vicente Feliciano. “Employment has been recovering faster
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Gold is trading marginally higher after a third consecutive positive close. The yellow metal is now trading at $1826/oz ahead
It’s looking as if this may be one of the rockiest years the US has ever seen. What can we do to boost production? by Jayne Rising via The Organic Prepper A new year has been birthed, and as we’ve pointed out in previous articles, there has been a huge influx of preppers over the past
After strong and steady gains through the late 2010s, the value of the dollar relative to other world currencies has been gradually weakening since 2020. The depreciation accelerated into 2022 as inflation has picked up, impacting both domestic and international investments. When the dollar is strong, it reflects a robust U.S. economy, low Federal Reserve interest-rate
Leading UK retailers Tesco and Marks and Spencer reported strong Christmas trading on Thursday but limited profit upgrades amid uncertainty about the extent to which rising costs can be passed on to customers. Tesco said full-year operating profit from retail operations would be “slightly above” its previously indicated £2.5bn-£2.6bn range, a proportionately smaller upgrade than
Taiwan Semiconductor Manufacturing Company plans to raise its capital expenditure by almost a third this year as the world’s largest contract chipmaker defies analyst warnings of softening demand for technology gadgets. TSMC expects capital expenditure to reach $44bn this year, a 32 per cent increase from the $30bn spent in 2021 and triple the amount
After about 100 other SEC cases involving disclosures of 12b-1 fees in the past three years, a midsize firm resolved the regulator’s allegations that it failed to disclose its conflicts of interest. O.N. Investment Management, the RIA subsidiary of Cincinnati-based independent brokerage The O.N. Equity Sales Company (Onesco) and insurer Ohio National, breached its fiduciary
Take a look at some of the biggest movers in the premarket: Zynga (ZYNG) – The online game maker’s shares soared 48.2% in the premarket after it agreed to be acquired by video game maker Take-Two Interactive (TTWO) for $9.86 per share in cash and stock, implying a total deal value of $12.7 billion. Take-Two
Sharing is Caring! by TheHappyHawaiian The fed has fucked up. Inflation wasn’t transitory and their favorite measure, core PCE, is the highest it’s been in 4 decades. Now they have to look like they are fighting inflation by raising rates and tapering asset purchases. They are talking quite a big game right now. Many fed officials
U.S.-based music platform LÜM is set to announce 25 partnerships with globally known musicians as part of a re-launch involving NBA Top Shot’s Dapper Labs later this quarter. LÜM was founded in 2018 and built up a user base of more than 200,000 users with a platform that provided services such as social media, music
Apartment buildings on the Upper East Side neighborhood of New York. Victor J. Blue | Bloomberg | Getty Images Manhattan rents hit their highest level ever for a December as the supply of apartments plummeted and landlords started demanding double-digit increases. The average apartment rent in Manhattan hit $4,440 in December, while the more widely
Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies. India Authorities Seize Assets in Alleged Crypto Scam Case India’s Enforcement Directorate (ED), a specialized financial investigation agency under
Municipal bonds were largely unchanged Wednesday, the first session in a week in which benchmark yield curves were not cut, while the primary provided more guidance for a supply-starved market. U.S. Treasuries were flat 10-years and in, but softer on the long bond and equities ended in the black. Municipal to UST ratios rose slightly
(Kitco News) The number one investor pitfall is falling for crypto scams, according to the latest data published by the North American Securities Administrators Association (NASAA). “By far, NASAA’s securities regulators revealed that investments related to cryptocurrencies and digital assets are our top investor threat,” said Enforcement Section committee co-chair Joseph P. Borg, Alabama Securities
The Fed can’t allow interest rates to go negatives since that would indicate the dollar is worthless… Bill Holter on Palisades Gold Radio Bill discusses the current liquidity situation with the Reverse Repo system. Banks can sleep at night with their funds being stored with the Fed while earning a return. However, the Fed can’t
Many investors historically have turned to safe haven assets such as precious metals in times of economic and political turmoil. One way to gain exposure is by owning companies in the metals and mining industry, which are involved in the exploration, extraction, and sale of metals and other minerals. These materials are used in a
China will release its estimates for fourth quarter and full-year gross domestic product growth on Monday at a critical economic and political juncture for President Xi Jinping, who is seeking an unprecedented third term as head of the Communist party, military and government. The party’s politburo last month emphasised the importance of stabilising the economy
The race to converge US messaging apps with payment services has an unlikely contender for champion. Small, California-based encrypted messaging app Signal is testing an anonymous digital payments feature. It encapsulates everything that regulators are afraid of. Making money from messaging apps remains a work in progress. Facebook (now called Meta) paid $19bn for WhatsApp
It has been nearly two years since James “Jim” Seegan’s wife and son found him dead in his Carrollton, Texas, home office. His former friend and financial advisor, Keith Todd Ashley, stands accused of killing Seegan and staging the crime scene to make it appear as if Seegan had taken his own life. In the
In this article DASH AJRD DIDI PHIA-NL OCGN BIIB Check out the companies making headlines before the bell: DoorDash (DASH) – The stock added 2.6% in the premarket after Evercore upgraded it to “outperform” from “in line.” Evercore said the delivery service has strong fundamentals and the stock is at an attractive valuation. Separately, Meta
Sharing is Caring! by Michael Snyder Did anyone out there actually expect things to turn out differently? When the federal government kept borrowing and spending trillions upon trillions of dollars that we did not have, we were warned that this day was coming. And when the Federal Reserve kept pumping trillions upon trillions of fresh
VCR Group, the hospitality company founded by entrepreneur Gary Vaynerchuk, announced the live token sale of its latest members-only private dining club in New York City, called Flyfish Club. Prospective seafood-restaurant-goers must purchase their membership on the blockchain, sold as a nonfungible token (NFT). Flyfish Club (FFC) is the world’s first member’s only private dining
Ubiquitous Energy solar energy capturing windows installed at Michigan State University. Courtesy of Ubiquitous Energy A material science start-up, Ubiquitous Energy, is raising tens of millions of dollars to turn windows into surfaces that capture solar energy. The California start-up announced on Tuesday it closed a $30 million funding round, including an investment from consumer
Strike, a bitcoin-based wallet and exchange service, has landed in Argentina, bringing USDT integration to users in the country. Jack Mallers, CEO of Strike, explained that his objective for bringing the app to the country has to do with providing a platform for Argentinians to hold a stable value in cash. This value will be
Cuyahoga County hits the market Thursday with a mix of taxable and tax-exempt sales-tax-backed bonds to help finance a $435 million upgrade to the home of Major League Baseball’s Cleveland Guardians. The sale offers $123.4 million of ballpark improvement project tax-exempt paper and $67.5 million of taxables with maturities through 2037. KeyBanc Capital Markets and
Welcome to Kitco News’ 2022 outlook series. The new year will be filled with uncertainty as the Federal Reserve looks to pivot and tighten its monetary policies. At the same time, the inflation threat continues to grow, which means real rates will remain in low to negative territory. Stay tuned to Kitco News to learn
You can plainly see where a silver price of $34 is not out of the question, and that’s a number that would certainly… by Craig Hemke via Sprott Money News Oh, boy. Here we go again. It’s the start of a new year, and that means it’s time for another adventure in long term price
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