The Money Gentleman

“While Bitcoin has been touted as the next big payment revolution, the fundamental issue is that Bitcoin lacks a robust system of rewards for transaction-generating miners,” Nicholas McKinnon, director of frontier strategy at BMO Capital Markets told Forbes. “That translates into a structurally deflationary currency.” To illustrate his point, McKinnon went back to the much-maligned and unsophisticated Dot-Com boom of the mid-2000s. Like in the early 2000s, there are thousands of startups in the space that each have the goal of introducing new and creative ways to collect money from users, he said. “But these companies have all tried to launch before, failing time and time again, and they all are suddenly launching when the value of the new concept rises to a premium,” he said. “History shows the only way to stop the bubble before it pops is to let a lot of buyers in. But once the bubble has burst, the new players also run.” Is Bitcoin safe as a currency? Some have likened Bitcoin to...

How has Brexit affected the UK?

Brexit has had a significant impact on the economy of Great Britain since its implementation on January 31, 2020. Here are some of the ways in which Brexit has affected the British economy: Trade: Britain's separation from the European Union has changed the terms of trade between the UK and the EU. This has led to increased costs and complexity of business transactions, negatively affecting businesses and the economy in general. Investment: Many companies have withdrawn their investment from Britain due to the economic uncertainty caused by Brexit. This has led to a decrease in the rate of economic growth and an increase in unemployment. Change in the British Pound: Brexit has had a significant impact on the value of the British pound, which has declined compared to other major currencies such as the Euro and the US dollar. This has increased the cost of imported goods and decreased the competitiveness of UK exports. Impact on the farming and fishing industry: The farming and fishi...

Brussels launches the first notice to Spain

The European Commission has launched a communication to explain the degree of application of the rules for the control of public spending. And Spain has found itself in that text with a first express notice. The draft notification is officially called an "exploratory communication". But it is obviously something more. It is also an effort to explain the degree of application of the rules for the control of public spending which will be the main subject of a later formal legal decision. When Spain adoptd its budget law in November last year it did not include any such a warning and went on to send an actual letter to every household asking for support in defending the national social security.

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