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Fiat currencies
Fiat currencies last less than 100 years depending on the structure of the fiat system.
Now, 2 feb 2018, Cryptocurrencies are becoming popular
Central banks are now taking steps to control cryptos
Economic News
People’s confidence in the site system is dropping. Housing, existing home sells, pending home sells – they are all declining. Retail sales are dropping
GDP has a questionable 2.6%.
Reports say annual workers’ earnings are rising.
Now, heading into the tax period, the accounting pay rolls increase. But oddly, the accounting pay rolls are declining.
Looking at jobs in the retail, they added 15,000 jobs and more in other food services industry. Note that any time a part time is added it is counted as a full time job
They (government) also say that average hourly earnings have increased. But if you look closer at the data, the reason this occurs is the total weekly hours work posted a relatively steep decline: dropping from 34.5 in dec to 34.3 in Jan, a 2.9% drop.
So average weekly earnings actually declined from dec. Which in turn means no break out in average weekly earnings, which rose a far more 2.6%.
Crypto crack down
Coinbase, a cryptocurrency exchange, sent out a message to users stating that purchasing cryptos on credit will be expensive.
Because the banks are putting fees on Cryptocurrencies.
Capital one has decided to ban customers from using credit cards to purchase bitcoin or coins on the Ethereum blockchain.
JP Morgan is going to halt crypto purchases soon.
These bank activities are questionable. But, this may not be all bad because only 18% of crypto purchasers use credit cards to buy cryptos.
Also, when people are trying to cash out from cryptos, some banks are denying this service.