The Kobeissi Letter stated that for the first time in several years this November, 12 cryptocurrencies’ capitalization on Platform X increased by $600 billion over the past year, representing a 75% increase. Bitcoin made a 120% increase in value over the same period. This increase in liquidity is considered an important indicator – it shows the recovery of cryptocurrencies from a crysis.
European Central Bank head – Christine Lagarde – said on the 16th of October that interest rates would remain high enough “for as long as necessary” to curb inflation. Lagarde said rates would remain high as upward pressure on prices “remains strong” in the 20 countries that use euros. She added that the Central Bank remains committed to ensuring that inflation returns to its medium-term target of 2% in a timely manner.
The Bank of England has raised interest rates 14 times since the end of 2021. The Center for Economics and Business Research said debt taken on during the pandemic, higher borrowing costs and the cost of living crisis will push more businesses into bankruptcy, especially in the retail and hospitality sectors. Around 7,000 businesses are likely to fail every quarter in 2024 as high interest rates cause financial strain and the UK economy enters recession. The bank may begin to cut interest rates in an attempt to stimulate demand. However, the Bank has signaled that interest rates are likely to remain high for longer as it grapples with high inflation.
The unveiling of a massive tax cut ahead of next year’s general election will put the UK’s ‘dreaded’ public finances in even greater danger and risk a nightmarish scenario of even higher interest rates. Paul Johnson of the Institute for Fiscal Research urged both major parties to be honest about the serious tax and spending choices they face if they come to power. Rishi Sunak is still under intense pressure from his own MPs to cut taxes in March ahead of the next election. While the prime minister has made it clear that reducing inflation is his only economic priority for the moment, officials have privately hinted that he is interested in cuts such as lowering the income tax to 2p.
India in the foreseeable future can not only significantly develop financially, but generally become the second largest economy in the world. More and more analysts come to this opinion, including one of the largest investment banks in the world – Goldman Sachs. According to a recent report, due to an extraordinary demographic surge (not so long ago, India overtook China in population), the country will have to increase production capacity, expand the service sector and develop infrastructure. Advances in technology and innovation will be another determinant of economic growth. Investments will also affect the development of the country. Experts called the critically small role of women in the economy the main negative factor – almost 80% of the female population does not work at all. India is currently the fifth largest economy in the world behind Germany, Japan, China and the US.
BTC has been the only unit of Bitcoin, but that is now changing with the launch of BRC-20. The US Dollar Stable ($USD) is the world’s first dollar-pegged stablecoin. It can be exchanged between 1 and 1 for USD collateral held by the custodian. The custodian is always externally audited by The Network Firm, measuring by digital asset accounting, the volumes that circulate security tokens 1 to 1. Why is this so important? – Technically, it is now officially possible to convert equity to dollar assets at the underlying level of Bitcoin.
#ChatGPT has compiled a list of the most promising professions of the future. The chatbot named the profession of artificial intelligence software engineer the most promising. The second place was taken by the profession of robotics. The third most popular will be employees in the field of cybersecurity. The top five also included biotechnologists and developers of virtual and augmented reality.
Forbes has updated its famous ranking of the richest people on Earth after the 2022 fiscal year. According to the results, the French businessman Bernard Arnault took first place. He also became the only one whose net worth exceeds $200 billion. Bernard ousted last year’s leader – Elon Musk, who lost about 25% of his wealth due to the fall in the shares of his companies and during the acquisition of Twitter. Amazon founder Jeff Bezos came in third, also losing about 30% of his capital compared to 2021. Oracle owner Larry Ellison and Berkshire Hathaway owner Warren Buffett ranked 4th and 5th (with a minimum difference of 1 billion). Bill Gates this time unexpectedly did not make it into the top 5 at all, falling to 6th position from 4th
Russia’s invasion of the territory of Ukraine and protracted hostilities have led to the fact that a number of countries are experiencing a forced influx of Ukrainian refugees and Russians with Belarusians who do not agree with the policies of their countries and do not want to fight against the Ukrainians. In connection with this, unpleasant difficulties began to appear:
– Portugal abolished its golden visa program, through which wealthy people could obtain permanent residence by investment;
– The majority of people who have applied for a residence permit in Turkey since the beginning of this year have been receiving mass refusals, against which the cases of fraud among local intermediaries in obtaining permission have become more frequent;
– There is a catastrophic lack of housing in Kazakhstan, in large cities there are actually no normal options for renting (only options with an extra charge of more than 300%), and now it is almost impossible to get a tax number remotely and open an account;
– In most European countries it has become much more difficult to open a bank account, in particular for newly registered local companies with foreign owners;
– A huge number of scammers have appeared on the Internet, taking money for one or another assistance in obtaining a residence permit, but then not performing services or completely disappearing from communication.
We strongly recommend that you be vigilant and, if necessary, seek help from real and trusted professionals.
