Von Greyerz: Some numbers about the massive money creation

Von Greyerz: Some numbers about the massive money creation

The massive money creation by central and commercial banks in this century has resulted in a growth of global assets from $450 trillion in 2000 to $1,540 trillion in 2020. Debt To GDP Growth As the chart below shows US...
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Russia Will Pay Its Foreign Debts in Rubles

Russia Will Pay Its Foreign Debts in Rubles

On June 23, Russian President Vladimir Putin signed a decree on the payment of foreign currency debt in rubles. Roughly speaking, transactions will be made through a ruble account at the domestic market rate. Payment of such debt on the...
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FED: Banks could withstand 10% unemployment, 55% stock price drop in annual stress test

FED: Banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Fed sees banks will have enough capital to keep lending even if unemployment rises to 10% under a hypothetical scenario. The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did...
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ECB Emergency Meeting Creates Emergency

ECB Emergency Meeting Creates Emergency

Were it not for the ECB calling an emergency meeting last Thursday, most market participants would not have realized there was an emergency in the bond market. Apparently, the sharp rise in yields on Italian bonds after the ECB stopped buying...
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Decelarated Money Supply Growth In 2022 = Recession

Decelarated Money Supply Growth In 2022 = Recession

Money supply growth fell slightly in April, falling below March’s eight-month high. Even with March’s bump in growth, though, money supply growth remains far below the unprecedented highs experienced during much of the past two years. During the th...
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BIS Calls For Centralization Of Crypto

BIS Calls For Centralization Of Crypto

While citing multiple problems with the decentralization model for cryptocurrencies (some of them valid and some of them not), the Bank for International Settlements has concluded in a report released this week that crypto ‘can’t fulfill the role o...
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Mastercard CEO: SWIFT Payment System May Be Replaced By CBDCs In 5 Years

Mastercard CEO: SWIFT Payment System May Be Replaced By CBDCs In 5 Years

There has been a long list of revelations coming out of the recent World Economic Forum meeting in Davos, but one issue that might have gone under the media radar involves comments by Mastercard CEO Michael Miebach during a discussion...
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Czech Republic will join the gold rush

Czech Republic will join the gold rush

The newly appointed governor of the Czech National Bank (CNB), Aleš Michl, said that he plans to massively increase the central bank’s gold reserves from the current 11 tonnes to over 100 tonnes or more. It was almost inevitable that...
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US Set To Block Russian Debt Payments

US Set To Block Russian Debt Payments

The US is now set to block Moscow’s ability to pay its sovereign debt – though ironically which Russia appears ready and willing to pay, if it weren’t for the far reaching US-led sanctions imposed on its central financial institutions...
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Coinbase bankruptcy rules updated

Coinbase bankruptcy rules updated

After posting a huge earnings miss, here is the latest version of the Coinbase Terms of Service, the addition of text that included the following: “Custodially held crypto assets may be considered to be the property of a bankruptcy estate,...
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90% Of Nations Are Planning CBDCs

90% Of Nations Are Planning CBDCs

Digital currency is code for money the government can track and either withhold or augment depending on if the holder has acted in accordance with the government’s desires. A new report from the Bank of International Settlements estimates that up to 90%...
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China Has ‘Financial Nuclear Bombs’

China Has ‘Financial Nuclear Bombs’

China Has ‘Financial Nuclear Bombs’ If West Levies Russia-Style Sanctions, Beijing Warns Multiple analysts at Chinese state-linked think tanks and banks have weighed in on the Biden administration’s recent threats to punish the world’s ...
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Fidelity To Allow Bitcoin Investments In Retirement Plans

Fidelity To Allow Bitcoin Investments In Retirement Plans

“We fully expect that cryptocurrency is going to shape the way future generations think about investing for the near term and long term.” Investment giant Fidelity will reportedly enable its 23,000 business clients to offer Bitcoin accounts for their wor...
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Banks Inject $1.5 Trillion In Coal Sector

Banks Inject $1.5 Trillion In Coal Sector

Despite pledges from many banks that they would review, limit, or phase out coal financing in the energy transition, lenders have financed the coal industry globally with $1.5 trillion since 2019, a report from Germany-based NGO Urgewald cited by Bloomberg sh...
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China Injects $1 Trillion In Biggest Monthly Credit Surge On Record

China Injects $1 Trillion In Biggest Monthly Credit Surge On Record

While Wall Street is being torn apart by fierce debate whether the upcoming “six or seven” in rate hikes coupled with $2.5 trillion in QT over the next two years will blow up US capital markets, overnight China showed how...
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