Tuesday , June 22 2021
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Tag Archives: Blockchain

Transitory or Not, Inflation Is Here. It Could Be Much Higher Than You Realize

I’ve been writing about the possibility of higher inflation for months, and now it looks to have finally made landfall. The headline consumer price index (CPI) came in at 5% year-over-year, the highest in over a decade. The real rate is likely even higher. Energy commodities, and gasoline in particular, jumped the most of any other measured item. Energy increased 54.5% year-over-year, gasoline 56.2%, as oil prices hit multiyear highs this week on strong travel demand. A barrel of West Texas...

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The Race for Copper, the Metal of the Future

The International Energy Agency (IEA) was founded in 1974 in response to oil embargos the previous year that caused the global price of oil to surge 300% from $3 per barrel to $12 per barrel. From the start, the IEA’s mission has been to help member nations deal with major oil supply disruptions. Over the years, the group’s purview has broadened to include more than just oil security, and in its most recent report, the IEA sounds the warning bell on the global supply of key...

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Big Investors Dump Bitcoin for Gold as Inflation Heats Up

One of the biggest reasons why people invest in assets like gold, Bitcoin and altcoins is because they act as hedges against bad government policy. Look at Venezuela. The beleaguered country’s currency, the bolivar, isn’t worth the paper it’s printed on due to draconian socialist policies. As such, an outsized percentage of Venezuelans rely on Bitcoin as a store of value and to help make ends meet. A less severe example—though no less impactful—is Canada. In case you haven’t heard, there’s a...

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Elon Is Wrong About Bitcoin…

Elon Is Wrong About Bitcoin. Crypto Miners Are Key to Renewables’ Success   And just like that, Elon Musk has turned on Bitcoin. In a tweet on Wednesday, the self-proclaimed “Technoking of Tesla” said his company—which announced in February that it bought $1.5 billion in Bitcoin—would be suspending vehicle purchases using the cryptocurrency. Musk cited crypto miners’ “increasing” use of fossil fuels, particularly coal, “which has the worst emissions of any fuel.” The price of Bitcoin...

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No Country Has Ever Taxed Itself into Prosperity

We’ll be hosting a webcast on Monday, May 10, 2021, at 7:30 a.m. Central time to discuss our results for the third quarter 2021. An update on HIVE Blockchain Technologies, our strategic exposure to the crypto asset boom, will also be discussed. To register for the webcast, click here. Violent protests have erupted in the streets of Bogota, Cali and other cities in Colombia. The immediate cause? Proposed reforms to the South American country’s tax system, which would have lifted taxes on...

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With Everything Up Right Now, Where are the Value Buying Opportunities?

If you’ve ever wondered what trillions of dollars in monetary and fiscal stimulus looks like, it appears you got your answer. Everything is up right now. Stocks are up. Earnings are up. Consumer spending is up. Commodities are up. Food prices are up. Home prices are up. Car prices are up. Cryptos are up. This week marked President Joe Biden’s 100th day in office. Since Inauguration Day, the S&P 500 has increased an impressive 8.6%. Those are the best returns for the start of a...

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Are Central Bank Digital Currencies the Future of Money?

Today we had the pleasure of participating in the (virtual) ringing of the NYSE closing bell to celebrate the six-year anniversary of the launch of our airlines ETF. It’s been an incredible journey, and we extend our gratitude to everyone who helped make it possible. Wheels up! In case you missed it, you can watch the replay of the bell ringing by visiting nyse.com/bell! Central Banks Have Been Net Sellers of Gold So Far this Year Some major changes could be coming soon to a central bank...

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Positive First-Quarter Data Point to a Global, Sustained Economic Boom

  Millions of Americans, it seems, felt that the time was right to trade in their clunkers for a new set of wheels. Sales of cars and light trucks surged an incredible 58% in March compared to last year, according to Bureau of Labor Statistics data. Some 1.6 million vehicles were driven off car lots during the month, representing over 18 million on a seasonally-adjusted annual rate (SAAR). There could be several reasons why car sales skyrocketed last month, the most obvious being that...

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We’re on the Cusp of Mass Crypto Acceptance

It’s happening. The acceptance of digital currencies as a form of payment expanded greatly this week, foreshadowing the increasingly important role cryptos such as Bitcoin and Ether will play in our lives going forward. Both Visa and PayPal announced they will begin allowing the use of cryptocurrencies to settle transactions. This comes a week after Tesla said it will now accept Bitcoin as a method of payment, and a month after Mastercard signaled it would start supporting cryptos sometime...

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What If We’re Measuring Inflation All Wrong?

Inflation is top of mind right now for many consumers, businesses and investors. Responding to a recent Bank of America survey, asset managers around the world agreed that inflation is the number one market risk, displacing COVID-19 for the first time since February 2020. Another survey conducted this month found that over three quarters of Americans were either “very” or “somewhat” concerned about inflation. Perhaps not surprisingly, younger Americans who have not yet reached their peak...

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