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#currency

5 posts5 participants1 post today
Public
Nonilex

Global central #banks diverge as #tariff risks hamper #US #Fed

Big central banks are diverging as #Trump #tariffs threaten to raise US #inflation & a dash out of the #dollar sparks disinflationary #currency strength elsewhere.

The US #FederalReserve is holding rates steady for now, while #Switzerland is moving closer to negative rates once again, & #Japan remains an outlier with its bias to hike rates.

#economy
reuters.com/business/finance/g

Change in policy rates by 10 major developed central banks
Public
ABC Feeds

Live: ASX to open lower, Wall St falls on lack of progress with Trump trade deals
By David Chau

The Australian share market is set to fall for a third straight day as investors grow nervous about the lack of meaningful progress in negotiations to de-escalate Donald Trump's trade war with the rest of the world. Follow live.

abc.net.au/news/2025-05-07/asx

ABC News · Markets live: ASX to open lower, Wall Street falls on lack of progress with Trump trade dealsBy David Chau
#FinancialMarkets#StockMarket#CompanyNews
Public *
Bibliolater 📚 📜 🖋

:bitcoin: **Bitcoin, Currencies, and Fragility**

_“In its current version, in spite of the hype, bitcoin failed to satisfy the notion of “currency without government” (it proved to not even be a currency at all), can be neither a short nor long term store of value (its expected value is no higher than), cannot operate as a reliable inflation hedge, and, worst of all, does not constitute, not even remotely, a safe haven for one's investments, a shield against government tyranny, or a tail protection vehicle for catastrophic episodes.”_

Taleb, N.N. (2021) 'Bitcoin, currencies, and fragility,' arXiv (Cornell University) [Preprint]. doi.org/10.48550/arxiv.2106.14.

#Bitcoin #Currency #Money #Wealth #Economics #Finance #Academia #Academic #Preprint #arXiv @economics

arXiv logo
arXiv.orgBitcoin, Currencies, and FragilityThis discussion applies quantitative finance methods and economic arguments to cryptocurrencies in general and bitcoin in particular -- as there are about $10,000$ cryptocurrencies, we focus (unless otherwise specified) on the most discussed crypto of those that claim to hew to the original protocol (Nakamoto 2009) and the one with, by far, the largest market capitalization. In its current version, in spite of the hype, bitcoin failed to satisfy the notion of "currency without government" (it proved to not even be a currency at all), can be neither a short nor long term store of value (its expected value is no higher than $0$), cannot operate as a reliable inflation hedge, and, worst of all, does not constitute, not even remotely, a safe haven for one's investments, a shield against government tyranny, or a tail protection vehicle for catastrophic episodes. Furthermore, bitcoin promoters appear to conflate the success of a payment mechanism (as a decentralized mode of exchange), which so far has failed, with the speculative variations in the price of a zero-sum maximally fragile asset with massive negative externalities. Going through monetary history, we show how a true numeraire must be one of minimum variance with respect to an arbitrary basket of goods and services, how gold and silver lost their inflation hedge status during the Hunt brothers squeeze in the late 1970s and what would be required from a true inflation hedged store of value.
Public
GoinFawr

'This is the End. Beautiful friend. This is the End. My only friend, the End.

Of our elaborate plans, the End.
No safety or surprise, the End.
I'll never look into your eyes again.

Can you picture what will be?
So limitless and 'free'
Desperately in need of some
Stranger's hand
In a desperate Land."

- Jim F'ing Morrison, that's who!~

On the thinnest of onion -paper flimsy premises that are blown away by the most cursory scrutiny:

reuters.com/world/us/elon-musk

the letters FaFo
#Finance#Markets#currency
Public
Eric Maugendre

@keefeglise

The sovereign state borrows from other financial institutions: the national Treasury offers an "obligation" or a "bond" whereby it #promises to later give away its fiat currency in exchange for the actual payment of money or title presented by the rentier.

It gets more complicated: mas.to/@maugendre/109760408033

mas.toEric Maugendre (@maugendre@mas.to)[Below is a reformat of a Twitter thread about #finance by Alfonso Peccatiello, dated 25th January 2023.] Money ’’liquidity’’ is a crucial and widely misunderstood driver of financial markets. Let’s explain what #liquidity means, and where it’s headed next. Let’s first explain what "liquidity" is in #simpleEnglish. Let’s start with the basics: "liquidity"==bank reserves. Bank #reserves are money for banks:
#securities#borrowing#debt
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