Category: Economy

Nigeria has borrowed $33 billion form its own Central Bank to fund its budget deficit. Debt restructuring needed to stop the bubble to burst and to make Nigeria economy strong again. Finance Minister Wale Edun said, “We are bringing order to government borrowing“. For long cash, shortages have plagued Nigeria’s economy, due to a CBN directive. One of the largest economy in Africa had to print new currency for financing its fiscal deficit. On March 2023, Supreme Court of Nigeria has ordered the Central Bank of Nigeria to extend the use of old currency notes until December 31. The issue of withdrawal notes will become an election problem who causes anger. The Central Bank says that old notes will remain legal tender in 2024 and that there is no deadline.…

Founded in 2019 OpenAI CEO Samuel Altman announced in July a launch of new cryptocurrency who will change the world of finance. This new currency already has more than 2.5 million users worldwide and it is already on its way to become the star of crypto world. Many reason for new iris biometric cryptocurrency who will be the best as they say is a free ownership to everyone. Their aim is to become the world largest digital identity and financial network. Worldcoin will be the universal and global currency no matter your country or background. New cryptocurrency will be provided for free only if you scan your eyes. The users of this system are starting to have serious debate about (tracking personal biometrics). The answer from Worldcoin on the debate…

Digital transformation and the adoption of new technologies have been really well received by Australian citizens. Covid-19 accelerated this existing digital trend and many banks accepted with joy cashless payment system. Many banks started to close ATMs and branches and ban cash with one goal in mind to become cashless by the end of the decade. Bank Commonwealth, NAB and ANZ stopped handling cash in a few branches, and announced to close more ATMs and branches next year. Unlike other bank’s Macquarie Bank recently announced a complete transition to digital payments by November 2024. Money experts in Australia has warned citizen that banks could start „Cash rationing“ at ATMs. This move will be made because of lower demand for banknotes. However, should people be concerned about going cashless? „It is…

Head of U.S economics are expecting to see the first cut of interest rates in June. The prediction may see first a so-called soft recession who will trigger a central bank cutting of 25 basic point per quarter. There are many speculations about the soft recession but we might see a strong one as many countries started to de-dollarize. Deutsche Bank’s economist predicting the cut of interest rates in the first half on 2024 and a strong slash of rates to slow down the inflation.  The bank expects an initial cut of 50 basis points in June 2014 followed by 125 basis point to the end of the year. Raising interest rates in last year have increased 11 times, all in hope to slow down the inflation and stop the…

As U.S. dollar starts to lose power pulling down Euro and many other currency’s BRICS nations started to be more confident about their new currency. The reason to be confident about new upcoming currency are many says former advisor to Russian President, Sergey Glazyev. BRICS nation already trade in their local currency that was the first step of de-dollarization. The petro-dollar started losing power and new prediction for 2024 are not good for U.S economy.  There are many indicators that this gold backed currency will be the best in the world. Such ‘a currency will be the first for long time of period to be gold backed up. United State abounded the golden standard and from that day, the U.S dollar become not much valuable, risking the bubble to explode…

Central bank digital currency or CBDC started in Finland in 1993 like some sort of electronic form of cash. The idea and the system was dropped in 2000. Today around 120 countries around the world are in a stage to launch national digital currency.  There are many reason why government do this for the benefit of the country. The most important tool for the government is easy control of money, cheap money, fast transaction, stopping money laundering and black market, illegal worker payments etc. The news we hear about CBDC open up many question and dilemma. Many question won’t be answered and for many we already know the answer. Trying to find enough about CBDC have made us invest more time to give the right answer to the common question.…

The central bank of Turkey expects inflation to rise to the end of this year. The prediction and expectation of Governor Hafize Gaye Erkan are not good for Turkey economy. Turkey’s central bank with monthly and annual inflation rates announced that inflation has moved up the latter last month and it has gone up to 58.94%. The central bank of Turkey says that it was necessary to increase interest rates because of the surging oil prices. Turkish economy in last few years has weakened because of the accelerating costs and as we know last year in November inflation hit record high of 85.5%. Now it started to climb again and the prediction are not good. Economy and its currency lira is in trouble by looking at how many liras you…

One of world leading bank JP Morgan CHASE analyzing BRICS de-dollarization by the countries of BRICS nation and come to the conclusion that U.S. dollar is at risk. The dollar is at risk of losing its global reserve status because BRICS countries started to trade in their local currency. The institute JP Morgan analyze predicts the risk of de-dollarization is a big knockdown to U.S. economy, as other currency will become the global reserve. “Some signs of de-dollarization are also playing out in oil markets. “The U.S. dollar, one of the key drivers of global oil prices, appears to be losing its once powerful influence,” said Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan” Weaponizing the U.S. dollar through history was not a good example that is why…

The war in Ukraine against Russia has crushed the European economy. The North stream pipeline who was destroyed, and who supply the biggest economy in EU Germany with gas has a great impact on their economy. We are seeing the prices spiking and inflation is growing. The European Union fight against it by pushing up “Euribor” and making the Loans expensive for economy in EU and outside EU countries. That means that growth in EU and countries who uses euro will drastically slow down. This war is hurting everyone in Europe but it empowers everyone outside Europe. People see changes but few can identify a big massive shift in power that moves away from USA and west to east, this all is happening right now. Russian president Vladimir Putin says…

His predicting the big collapse of Wall Street and put a $1.6 billion bet that this is going to happen. The famous “Big Short” movie says it clear that we are starting to be scared about the upcoming future event after his new prediction. His bet against the S&P 500 and Nasdaq 100 downturn will make many investors worried. The more interesting thing is that Michael Burry bets more than 90% of his portfolio according to the information we have. After all Burry’s fund is also getting out its shares in numerous regional banks like First Republic Bank that was bought by JPMorgan Chase in May this year. We see one big player like JPMorgan Chase whose investments are huge and who by the predicting will lose a lot in…