News
Exclusive: China's state banks told to stock up for yuan intervention
China's central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan's descent, four sources with knowledge of the matter said.
In Latest Recession Signal, Money-Supply Growth Plummeted to a Three-Year Low in August
Money supply growth fell again in August, dropping to a 36-month low. August's drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years. During the thirteen months between April 2020 and April 2021, money supply growth in the United States often climbed above 35 percent year over year, well above even the "high" levels experienced from 2009 to 2013.
Bank of England to buy 65 billion pounds of UK bonds to stem rout
The Bank of England stepped into Britain's bond market to stem a market rout, pledging to buy around 65 billion pounds ($69 billion) of long-dated gilts after the new government's tax cut plans triggered the biggest sell-off in decades.
UK Mortgage Turmoil Threatens 70% Surge in Average Cost by March
Tremors are continuing to ripple through the UK mortgage market despite the Bank of England’s intervention to calm financial turbulence on Wednesday. Higher borrowing costs for lenders means the average monthly cost of a two-year fixed-rate mortgage will rise by 70% by March from January this year, Bloomberg Economics estimates. The cost of a two-year fixed-rate mortgage on an average-priced home will rise to about £1,325 ($1,468) at the end of the first quarter from about £779 last January, according to Niraj Shah, an economist at Bloomberg Economics
From Joe
Join Me at Pacific Bitcoin
I'll be speaking at the Pacific Bitcoin conference on November 10th and 11th in Los Angeles, CA.
This is a two-day experience leading the way to a bright, orange future. This event isn't just for talking about Bitcoin, it's about BEING a bitcoiner. Learn new ways to save more, grow your stack, protect your wealth, and have a rip-roaring good time along the way.
Use my promo code "HERESY" for a huge discount on your tickets at checkout! See you there.