Hiding Cash in Your Mattress Is Even Dumber Than Stockpiling Toilet Paper

Amid the Covid-19 pandemic, consumers are panicking and withdrawing large amounts of cash from ATMs. Hiding cash in your mattress isn’t a good idea, as it could get lost or stolen. It’s safer to keep your money in your bank account. The banking system is solid and trustworthy. Toilet paper is not the only paper product that Americans are stockpiling. Paper money is also in great demand. Nervous customers across the country are making more cash withdrawals, thinking having more cash on hand will protect them from the uncertainty of…

Bitcoin Price Eyeing $7,000 After Fed Says it Has ‘Infinite Cash’

Bitcoin (BTC) and gold showed clear signs of strength on March 24 as the United States Federal Reserve revealed the true extent of its money printing.  Having cleared $6,000 on Monday, BTC/USD went on to hold ground at around $6,500. At the same time, gold rallied, as market analysts suggested its recent selloff was over. Fed: We have “infinite cash” The precious metal traded at around $1,572 at press time, a daily improvement of 1.35%.  Bitcoin versus gold 1-year chart. Source: Skew.com For gold, the rebound echoed behavior during the…

Out of a Job? Retail Giants Are Hiring & Giving Cash to Workers Amid Coronavirus

The government is telling people to stay in their homes as the coronavirus is spreading. An increasing number of businesses are shutting down. A lot of people are losing their job. People are panic-buying and online shopping is increasing. Retail giants like Walmart need to hire more staff. Federal Reserve Bank of St. Louis President James Bullard told Bloomberg News that unemployment in the U.S. could reach 30% in the second quarter due as the nation fights coronavirus. He also predicts GDP to crash an unprecedented 50%. If this unemployment rate…

Tether Launches on Bitcoin Cash Network

The world’s biggest stablecoin has launched on the Bitcoin Cash network. Tether (USDT) has seen a surge of interest in recent weeks due to the global flight to safe havens and now has a market cap greater than $5.7 billion. More than $180 million was minted in recent days, preceding Bitcoin’s remarkable price spike in the past 24 hours. USDT will now be available on the Bitcoin Cash network. It is also available on Ethereum, Algorand, EOS, Liquid Network, Omni and Tron. Bitcoin Cash has its own generic token called…

The Dow Is Plunging as an Epic Cash Grab Fuels a Stock Market Crash

The stock market crash accelerated mid-week as falling oil prices and a surging U.S. dollar weighed on equities. Dow bulls are heading for the hills as the psychologically significant 20,000 level has given way. Nordea Research believes the spike in bond yields is the next phase of the coronavirus crisis. The Dow Jones plummeted by nearly 2,000 points on Wednesday as the U.S. stock market crash gathered pace. With a global economic and health crisis in full swing, cash is king. Bulls are even bailing out of bonds as equity…

Cash Is the Real Safe Haven

Gold bugs like to pretend they are the smartest guys in the room. But they are just as clueless as the rest of us. Gold is just another risk asset, not a magical hedge against Armageddon. The U.S dollar and other hard currencies are the only true safe havens in a time of global pandemic. Gold bugs are losing their minds as precious metals continue to sell off with the rest of the market amid the global coronavirus pandemic. April Comex gold is trading at just under $1,500; silver futures…

A Risk-Off Disaster: Gold, Bitcoin, Bonds Fall in Sync on Rising Cash Demand

Gold, bitcoin, and government bonds fell in sync on Wednesday, suggesting that investors are raising cash to tackle the disruption caused by the Coronavirus pandemic. The gold-to-dollar exchange rate dipped by as much as 2.73 percent to $1,487.66 an ounce shortly after the European market open. The yellow metal came under the pressure of fund managers that dumped their most liquid positions to generate cash for their investors. Offbeat asset Bitcoin, too, became a victim of panicked withdrawals. The benchmark cryptocurrency fell by $330, or 6.20 percent, to establish an…

The Dow Skyrocketed Because Trump Wants to Give You Free Cash

Buoyed by promises of a lofty $850 billion stimulus package, the U.S. stock market rallied aggressively on Tuesday. The Dow Jones was no exception, and it erased a good chunk of Monday’s historic 3,000 point loss. There has been some positive news in Europe, as coronavirus infections in Spain and Italy slowed overnight. The Dow Jones leaped as much as 1,000 points on Tuesday as promises of economic stimulus soothed a troubled stock market. Wall Street is finally seeing the kind of monetary response it craved, and investors also cheered…

Bitcoin Cash Meetups Go Virtual in Japan to Prevent Coronavirus Spread

Japan’s crypto community has found a way for those seeking to avoid crowded places to still participate in meetups across the country.  According to sources available to Cointelegraph, Bitcoin Cash (BCH) meetup groups in Osaka and Tokyo will be allowing members to virtually chime in at regularly scheduled events. Though Japan has less than 1000 reported cases of infection, companies and organizers in the birthplace of crypto are starting to offer more suggestive language in announcements to curb the spread of the disease. Namely, that people should work from home,…

MoneyGram Declared $11.3 Million Ripple Cash Injection as Revenue

A United States Securities and Exchange Commission (SEC) 8-K filing by remittance processor, MoneyGram, has revealed that Ripple has been injecting a significant amount of funds into the business since its investment in the company in June 2019. But according to a report from the Financial Times, Feb. 28, until consulting with the SEC, MoneyGram had been classing these cash flows as revenue. Benefits reclassified as contra expenses The filing revealed that in the third and fourth quarters of 2019, Ripple had input $11.3 million into MoneyGram, in what was…