By: Andrew Moran This year, the dog days of summer might turn out to be like a Michael Bay film, with The Lovin’ Spoonful’s iconic “Summer in the City” as the soundtrack. America, and perhaps even the rest of the world, could be in for quite a ride if early indicators are to be believed. […]
China’s gold purchases return to pre-pandemic levels, imports total $8.5 billion in March
China is thirsty for gold again. The world’s second-largest economy is renewing its appetite for the yellow metal as China purchased approximately 150 tons of gold, worth approximately $8.5 billion. The shipments are expected to arrive in May. People’s Bank of China (PBoC) officials had eased restrictions on gold imports. Beijing maintains a quota system […]
Coinbase debuts at $381 on Nasdaq, trades as high as $429
Coinbase to the moon? The cryptocurrency exchange shared opened at $381 on the Nasdaq Composite Index, earning a market capitalization of $99.6 billion following its debut. It had initially been given a reference point of $250, but no shares had traded at that price, so Coinbase value soared when it went public. The stock had […]
Does the Great Reset involve the rise of the digital yuan, fall of the dollar?
By: Andrew Moran The global economy is in the early days of digitalizing currencies. Central banks worldwide are either in the infancy period of transitioning to digital money or deliberating digitalization’s pros and cons. After a couple of trials in the post-coronavirus recovery, China is placing its bets on the digital yuan, advancing its scope […]
REPORT: Egypt demanding $900 million from Ever Given owners over Suez Canal mishap
Egypt is mad as hell and it’s not going to take it anymore! The Egyptian government seized the Japanese-owned and Panama-flagged Ever Given container ship. According to the New York Post, Suez Canal authorities are holding the ship and demanding $900 million in compensation for the palmface-inducing mistake. Suez Canal Authority (SCA) officials continue to […]