Finance

Nobel Laureate Paul Krugman Compares Crypto to Housing Bubble and Subprime Crisis

Coins Legend June 8, 2022 0

Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.” Paul Krugman on Crypto, Housing Bubble,

Finance

Kim Dotcom Says ‘US Is Beyond Bankrupt,’ Digital Entrepreneur Predicts a ‘Controlled Demolition of Global Markets’

Coins Legend June 6, 2022 0

On June 5, 2022, the entrepreneur and activist known as Kim Dotcom published a post on Twitter and said it “may be the most important thread” he ever makes concerning a major global collapse. In the thread, Dotcom specifically highlights the American economy and he claims the “U.S. is beyond bankrupt.” Dotcom also talked about […]

Finance

Goldman Sachs President Warns of ‘Unprecedented’ Economic Shocks and Tougher Times Ahead

Coins Legend June 5, 2022 0

Global investment bank Goldman Sachs’ president and chief operating officer has warned of unprecedented economic shocks and tougher times ahead. His statement echoes JPMorgan CEO Jamie Dimon’s warning that a “hurricane” is coming our way. Goldman Sachs President’s Warning About the U.S. Economy Goldman Sachs President and Chief Operating Officer John Waldron shared his

Finance

Czech Central Bank Plans Tenfold Increase in Gold Holdings, New Governor Says Precious Metal ‘Good for Diversification’

Coins Legend June 4, 2022 0

The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said he plans to increase the institution’s gold holdings almost tenfold from the current 11 tonnes to 100 tonnes. Michl also said he will ask the bank’s foreign exchange reserves management team to invest in stocks. Growing the CNB’s Shareholding The incoming governor […]

Finance

Russia’s Industrial Giant Rostec Announces Blockchain-Based Alternative to SWIFT

Coins Legend June 4, 2022 0

Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks. Rostec Employs Distributed Ledger Technology to Substitute SWIFT Russian

Finance

Rich Dad Poor Dad’s Robert Kiyosaki Warns of Stocks and Bonds Crashing — Depression, Civil Unrest Coming

Coins Legend June 1, 2022 0

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that a depression and civil unrest are coming. He also warned of the stock and bond markets crashing. Robert Kiyosaki on Markets Crashing, Depression, and Civil Unrest The author of Rich Dad Poor Dad, Robert Kiyosaki, has issued more warnings […]

Finance

Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low

Coins Legend May 31, 2022 0

After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected to worsen Lebanon’s economic challenges. Pound Depreciation In a sign that Lebanon’s ongoing economic crisis is worsening, the black market exchange rate of the Lebanese […]

Finance

Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony

Coins Legend May 22, 2022 0

Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS Countries’ Dependence on the US-Dominated Global Financial System Chinese experts

Finance

Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods

Coins Legend May 21, 2022 0

As the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents say inflation on everyday items has driven […]

Finance

Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says

Coins Legend May 18, 2022 0

The first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house of Russian parliament. Russian Digital Financial Assets Likely to Appear by […]