Is this the end of Crypto's dream of dominating world currencies?
The Crypto Financial Crisis
A commercial bank has two primary functions—to manage consumer deposits and to create credit. The first function is at its core just the simple management and accounting stuff—getting cash from ATMs, managing payments, settling cash transfers, and the like. The second function is the more macroeconomically interesting—you lend to businesses and individuals, in the process creating bank deposits, and profit from a combination of risk and interest margins. You can imagine (and many people already have) a system where these two functions are separated. Companies and/or public sector entities manage bank deposits ... (full story)
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tweet at 1:19pm: ECB'S NAGEL: I WILL PUSH FOR ADDITIONAL RISES IN KEY INTEREST RATES.
Softer US inflation offered markets some long-awaited relief, sending rates and USD down and stocks, NOK and SEK up. We see higher rates and a stronger USD, but not as strong as ...
tweet at 12:32pm: FEDíS COLLINS: THE RISK OF OVERTIGHTENING RATES HAS GONE UP.
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European Central Bank Governing Council member Joachim Nagel on Friday said that he would support more ECB interest rate hikes. In a speech at the 150th anniversary celebration of ...
Canada updates CPI for October on Wednesday and it could be another doozie. Iíve estimated that it should rise by about 1.2% m/m NSA and 1.0% in seasonally adjusted terms. If so, ...
Not all of the latest weakness in UK GDP is explained away by September's extra bank holiday, and we're expecting further declines in output over the coming quarters. As the cost ...