Notice Mr. BearBear: Precious metals and foreign currency
Hi,
We’re writing to you to let you know that we’re no longer able to support precious metals, (XAU, XPD, XPT, XAG), or any foreign fiat currency other than Canadian Dollars (CAD) in your region. We will however continue to support the stablecoin UPXAU.
If you hold precious metals, or any foreign currency, we kindly ask that you exchange them for any of our remaining 200+ supported assets before November 28th, 2022.
Don't worry, if you can't do this, or run out of time, we'll automatically transfer your outstanding balances into CAD on November 28th, to ensure your funds remain protected.
If you’re no longer a Canadian resident, or have any trouble with the above requirement, then please contact the Customer Support team, using this dedicated form, who stand ready to assist you.
We’re sorry to limit this functionality, and hope to support these assets again in the future.
Kind regards,
Team Uphold
What does this mean? Basically they are aren't liquid and don't have enough supporting ponzi documentation to have them as trading pairs.
Is this the world right now?
Will prices be higher? Yes! Even if the world decouples and new lanes are created we will have higher prices with more secure lanes. Supply breakdown means many things. To break it down we like macro because it's more about the future rather than now. It's eating that baked bean burrito and knowing somewhere down the line that shit will be explosive!
Cost push inflation:
Energy price shocks, fertilizer shortages, strategic metal shortages, component supplier problems etc. etc.
Demand pull inflation: Psychological consumers see shortages so start buying whatever they can find because of course people see only higher costs coming. Even employers would give raises to keep their people working.
Right now we have cost push inflation from the supply side is self negating. The cure for higher prices is higher prices. So if oil is high, the cure is high oil prices. If it's too pricey to drive people stop driving. The unemployed won't be buying anything either! So prices will have to come down.
Disinflation and deflation which are close cousins are down the road 'soon'.
"Deflation vs. Disinflation: An Overview
Although they may sound the same, deflation should not be confused with disinflation. Deflation is a decrease in general price levels throughout an economy, while disinflation is what happens when price inflation slows down temporarily. Deflation, which is the opposite of inflation, is mainly caused by shifts in supply and demand.
Disinflation, on the other hand, shows the rate of change of inflation over time. The inflation rate is declining over time, but it remains positive."
"Deflation is the drop in general price levels in an economy, while disinflation occurs when price inflation slows down temporarily.
Deflation, which is harmful to an economy, can be caused by a drop in the money supply, government spending, consumer spending, and corporate investment."
Central banks will fight disinflation by expanding its monetary policy and lowering interest rates.
Disinflation can be caused by a recession or when a central bank tightens its monetary policy.
Deflation
Deflation is the economic term used to describe the drop in prices for goods and services. Deflation slows down economic growth. It normally takes place during times of economic uncertainty when the demand for goods and services is lower, along with higher levels of unemployment. When prices fall, the inflation rate drops below 0%.
Interest payments on $31 trillion in USD debt is about to exceed what is spent on the Defense Department.
We are entering a debt death spiral. Interest on the debt will double if they leave rates above 4% for about 3 years. All of the debt maturing rolls over at higher rates. So the obvious answer is that there must be disinflation and deflation before the ponzi breaks.