By CCN.com: Trying to make heads or tails of Tesla’s financial footing continues to be a task. The good news for Elon Musk keeps getting trumped by worrisome, if not flat out bad news. This month is proving to be a trying one for Tesla founder and CEO Elon Musk. It’s enough even to give
Jerome Powell said today that the Federal Reserve has no choice but to face the mounting U.S. debt balance. That negative balance is now $ 21.9 trillion. The annual U.S. deficit has reached sustained highs of over $ 1 trillion. Speaking at The Economic Club of Washington, D.C today Powell said: “I’m very worried about it.” Referring
The post Federal Reserve’s Jerome Powell “Very Worried” About Massive U.S. Debt appeared first on CCN
According to the International Monetary Fund (IMF), the global debt has achieved $ 184 trillion with $ 86,000 per person, a figure that is twice larger than the global average income per-capita. Out of the $ 184 trillion, The Balance reported that $ 21 trillion comes from the U.S., making up for around 11.4 percent of the global debt.
The post Global Debt Hits $ 184 Trillion and 11.4% of it is From the US: Big Bubble? appeared first on CCN
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $ 21.7 trillion as of November, will inevitably cause a big spike in crypto. “When the next global financial crisis occurs, and the world realizes organizations with $ 20 trillion in debt can’t possibly ever pay it back and thus
The post $ 20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom: Prominent Investors appeared first on CCN
Kim Dotcom, a German-Finnish Internet entrepreneur and a renowned investor in crypto, stated that the US economy will inevitably crash in the years to come. If US markets deteriorate in the long-term, as predicted by recognized economists including Peter Schiff and Nouriel Roubini, Dotcom firmly stated that crypto will appeal to investors as a robust
The post Investor: US Debt is a Death Spiral That Cannot be Undone, Buy Crypto appeared first on CCN
The government of Austria, like almost every other on the planet, is sinking deeper into debt. The country is planning to raise 1.15 billion euros in an auction next Tuesday.
In an effort to reduce costs and increase efficiency, the bonds will be issued and authenticated using the Ethereum blockchain.
Austrian finance minister Hartwig Löger said the following in a statement:
For us, blockchain technology is an important part of economic policy. With the establishment of the Fintech Council in the Ministry of Finance, we are developing strategies so that Austria can profit from these developments as much as possible.
In recent mining news, Venezuelan authorities are cracking down on mining operations – with one Venezuelan telling reporters that he was forced to leave his home country after becoming the victim of extortion. In other news, a Taiwanese miner was shot by gangsters after failing to deliver on returns on the gang’s investment into his mining operation, and a state-owned wind farm in Estonia has begun mining cryptocurrency.
The Moscow bankruptcy court has ruled that cryptocurrencies of a bankrupt debtor will not be seized to pay his creditors. The trustee for the case has failed to convince the judge to include the debtor’s cryptocurrencies in the bankruptcy estate.
Court Rejects Crypto in Bankruptcy Estate
The Moscow Arbitration Court ruled this week that cryptocurrency cannot be used to pay creditors in the bankruptcy case of Russian citizen Ilya Tsarkov, who filed bankruptcy in October of last year.