By: John Stepek 29/11/2018 Yesterday, a very important central banker made a statement that had a massive impact on stockmarkets. We’ll get to that in a moment. In other news, the Bank of England warned that sterling could drop by 25%, house prices could crash by 30%, and interest rates could go as high as 5.5% in the event of a no-deal Brexit. Haha! See what I did there? Markets know well enough by now to ignore the haverings of Nostradamus Carney over at the BoE. But the soothing tones of Jerome Powell at the Federal Reserve? That’s quite another matter. Markets finally found the Powell put Stockmarkets rocketed yesterday. The S&P 500 enjoyed its biggest one-day jump since March, rising by 2.3%. The Dow Jones made it to 2.5%, and the tech-heavy Nasdaq – which has suffered the brunt of the recent sell-off – gained nearly 3%. Why? Well, remember earlier this week I was pondering whether Jay Powell (I feel he’s been in post long … [Read more...] about This is the most important central bank story of the week so far
Why central banks buy gold
Jeffrey Wernick is an independent investor whose portfolio includes early holdings in Uber and Airbnb. Wernick was also an early investor in bitcoin. He started buying it in 2009, the year it was created. Wernick’s initial interest in bitcoin was not just speculation that the price would rise. He believes bitcoin’s value comes from its ability to solve the biggest problems with fiat money. Wernick believes the ability to run large deficits and debase the currency changes the relationship between the government and its citizens. He believes it gives the government the ability to do things without the consent of the people. Wernick says bitcoin solves these problems because it is a “people’s currency, it’s defined by the people, and it’s defined by rules and a protocol that people trust.” Jeffrey Wernick is a hard money advocate and an independent investor. His angel investment portfolio includes early holdings in Uber and Airbnb. … [Read more...] about An early investor in Airbnb and Uber explains why he started buying bitcoin in 2009
Gina Heeb, provided by Published 5:55 am, Wednesday, May 23, 2018 Thomson Reuters The Turkish lira fell to record lows against the greenback overnight Tuesday. President Recep Tayyip Erdogan, who is running for reelection, is a self-proclaimed "enemy" of interest rates. Follow the lira in real time here. The Turkish lira plummeted to a record low versus the US dollar Tuesday as investors pull cash out of the country ahead of a presidential election next month. Recommended Video: Now Playing: It was explosive testimony at the New York corruption trial of a Turkish bank executive. The prosecution's star witness, gold trader Reza Zarrab, said on Thursday that Turkey's President Recep Tayyip Erdogan personally authorised a transaction in a scheme to help Iran evade US sanctions. Turkish media says Erdogan, prime minister at the time of the alleged conspiracy, denies any such violation by his country, insisiting it "did the right thing" in dealing with Tehran. A … [Read more...] about The Turkish lira is in ‘complete freefall’ amid concerns of Erdogan’s influence on its central bank
Published April 30, 2018 Markets Motley Fool Facebook Twitter Comments Print There are many reasons people buy gold. Some invest in the precious metal to protect against inflation, even though one of the common myths about investing in gold is that it can outpace inflation. Others buy it because of a cultural tradition or because they think gold is a safe investment. Meanwhile, some buy it on the speculation that its price will continue to rise. No matter the reason, the core thought driving this buying is that gold is valuable and will become even more so in the future due to the many factors that influence the price of gold. We'll explore the many motivations behind investing in gold by looking at some of the worlds biggest gold investors. Continue Reading Below How much gold is in the world? According to an estimate by the Word Gold Congress, humans have pulled 187,200 tons of gold from the earth. To put that into perspective, if we melted the gold … [Read more...] about Who are the Biggest Gold Investors?
BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Newsletter Signup Business By Nicholas Rossolillo 04/19/18 AT 5:03 AM Salesforce.com (NYSE:CRM) CEO Marc Benioff often talks about having a beginner's mind -- trying to view the world like it's a new place you've never experienced before. That thinking is leading the company toward developing a blockchain and cryptocurrency solution that Benioff hopes will be ready for the company's Dreamforce 2018 software conference this September. For investors, that means Salesforce could be the latest way to take advantage of the cryptocurrency boom ... without having to buy any bitcoin.This article originally appeared in the Motley Fool.Cryptography and blockchain and cryptocurrency, oh my!Cryptocurrencies are virtual currencies, and there are lots of them -- more than 1,500 as of this writing. In some ways, they are no different than any other form of currency, like the dollar or … [Read more...] about Salesforce Is Getting Into Blockchain. Here’s Why That Matters