What is the future of Money?

Bitcoin, Dollars or Gold?

Type “Bitcoin is a Bubble” into Google and you’ll get 31,800,000 results, a clear indication of how many times people have, incorrectly so far, called a top in the price of the worlds most famous cryptocurrency. We’ve been studying it for years and have summarised our thoughts in a detailed report; “Bitcoin, Dollars, Gold: What is the Future of Money”

We see numerous potential tailwinds for Bitcoin, and for blockchain especially. Capital is flowing into the sector, millennials love it, and we also think governments and commercial banks are supportive of digital currency, as they have a general disdain for physical cash. Blockchain’s potential to disrupt multiple industries is also another tailwind. For those who want further evidence of its potential, we suggest reading “Banking is only the Beginning: 30 Big Industries Blockchain Could Transform”.

Finally, for as long as central banks the world over engage in the monetary largesse we’ve become accustomed to in the “post” GFC environment, more and more people will look for alternative monetary solutions.

http://www.livewiredmarkets.com… Mon., 04  December 2017

India’s economy has bounced back

A year-long slowdown

India’s economy has bounced back from a year-long slowdown, but not enough to regain the global growth crown from China.
Gross domestic product grew by 6.3% in the three months through Sept. 30, up from 5.7% in the previous quarter. That compares with China’s growth rate of 6.8% in the same period.

Still, the numbers will be music to the ears of Indian Prime Minister Narendra Modi, whose two biggest policy decisions of the past year have been widely blamed for a slump that cut growth to its slowest pace in three years. India was the world’s fastest growing major economy at the end of 2016, with GDP expanding by 7%. But the sudden ban last November of India’s two most valuable rupee notes at the time — accounting for 86% of the country’s cash — stunned industry and brought activity in some sectors of the economy to a screeching halt.

http://www.cnn.com… Fri., 01  December 2017

The Fed has no plans for its own cryptocurrency — at least for now

Fed is paying attention to research on blockchain

The Federal Reserve isn’t planning on launching its own digital currency — at least for now. While speaking at an event at Arizona State University on Wednesday, the president of the Federal Reserve Bank of San Francisco, John Williams, said the Fed is not working on its own digital currency, according to Reuters reporting.

But the Fed is paying attention to research on blockchain, the technology underpinning bitcoin, the news wire said.

http://www.businessinsider.com

UK could pay £50bn Brexit divorce bill

Bowing to EU pressure

The UK has bowed to EU demands on the Brexit divorce bill in a move that could result in the UK paying £50bn to Brussels, in an attempt to get France and Germany to agree to move negotiations to trade.

Non-stop behind-the-scenes negotiations have led to a broad agreement by the UK to a gross financial settlement of £89bn on leaving the bloc, although the British expect the final net bill to be half as much.

http://www.theguardian.com…  Wed., 29  November 2017

Sharp comeback in confidence for Argentima

Wall Street’s bulls are rushing to the land of gauchos

Larry Fink says he “came away more confident than ever” on Argentina after spending two days in New York this month with the nation’s leaders. Fink is the CEO of BlackRock, which manages $5.7 trillion, the most of any firm in the world.

He’s far from alone. American investors poured a net $1.2 billion into Argentine stocks and funds between January and October, 12 times more than they did during the same period just two years ago, according to EPFR, a Boston-based firm that tracks fund flows. It’s also four times more than last year.

http://www.cnn.com…  Tue., 28  November 2017

Walmart is coming back

Walmart stocks rising

Former J.C. Penney CEO Ron Johnson has been bullish on Walmart since at least February, when he appeared on “Fast Money” and called the big box retailer’s rally.Now, with Walmart stocks rising and the company investing in technology, Johnson said Amazon should be getting worried. Enjoy.com CEO and founder Ron Johnson thinks Amazon should be really worried about competitor Walmart, but could fight back with another big acquisition.

http://www.cnbc.com…  Mon., 27  November 2017

Dark clouds gathering on the horizon’ for Britain’s economy

UBS upgrades pessimistic forecast for UK growth

he Swiss bank UBS has admitted that the outlook for the UK is not as bad as it thought in the immediate aftermath of the European Union referendum and that the economy is well-positioned to benefit from strong global growth. While uncertainty about the final outcome of Brexit might weigh on economic progress, the bank did not believe it would derail future economic expansion.

UBS forecast that the UK will grow 0.7pc in 2018 has been upgraded to 1.1pc and the bank believes this rate of acceleration will be sustained into 2019. This is still a fairly negative view compared to other economists. The consensus view is that the economy will grow by 1.4pc next year. The Bank of England thinks it will be 1.6pc.

http://www.telegraph.co.uk…  Fri., 24  November 2017

Tencent: China’s social media giant is worth more than Facebook

Tencent is Now Worth $500 Billion and More Than Facebook

Tencent (TCTZF) has become the first Chinese tech firm valued over $500 billion. Shares of the 19-year-old company, listed on the Hong Kong Stock Exchange, hit record numbers on Tuesday, rallying to close at HK$430 to give it a market capitalization of some $522 billion—about $3 billion above Facebook’s closing valuation of $519 billion Monday. According to CNBC, Alibaba (BABA), Asia’s second-highest-valued firm and the closest rival to Tencent, comes in at a valuation of $474 billion, making the tech company the first from China to reach the landmark valuation.

Until now, membership in the half-a-trillion-dollar club belonged exclusively to American tech giants–Apple, Alphabet, Facebook, Microsoft and Amazon. Entry to the club for the company that’s little known in the West comes a week after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion) for Q3 2017.

http://www.fortune.com…  Thu., 23  November 2017

Uber paid $100K ransom after 57M accounts were hacked

Company paid hackers $100,000 to delete info, keep quiet

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies Inc., a massive breach that the company concealed for more than a year. This week, the ride-hailing firm ousted its chief security officer and one of his deputies for their roles in keeping the hack under wraps, which included a $100,000 payment to the attackers.

Compromised data from the October 2016 attack included names, email addresses and phone numbers of 50 million Uber riders around the world, the company told Bloomberg on Tuesday. The personal information of about 7 million drivers was accessed as well, including some 600,000 U.S. driver’s license numbers. No Social Security numbers, credit card information, trip location details or other data were taken, Uber said.

http://www.bloomberg.com…  Wed., 22  November 2017

London loses EU agencies to Paris and Amsterdam in Brexit relocation

Paris won the race to take the European Banking Authority from London

London is losing the European Medicines Agency to Amsterdam and the European Banking Authority to Paris, in one of the first concrete signs of Brexit as the UK prepares to leave the European Union. The two cities won the agencies after tie breaks that saw the winner selected by drawing lots from a large goldfish-style bowl.

The Dutch capital beat Milan in the lucky dip after three rounds of Eurovision-style voting on Monday had resulted in a dead heat.

Paris won the race to take the European Banking Authority from London, beating Dublin in the final, after the favourite Frankfurt was knocked out in the second round.

http://www.theguardian.com…  Tue., 21  November 2017