Forex

Google Ad

Bitcoin has become a phenomenon in 2017, the longevity of cryptocurrencies is one of the most polaring topics of the year. The key lies in China where about 58% of the world’s large cryptocurrency mining pools are located, the U.S. has 16%.

It has been a wild few weeks for Crypto currencies, coming to a crescendo and crash on Friday. Coinbase began having interruptions with the collapse of Bitcoin and made an announcement 11:11 a.m. ET that "all buys and sells have been temporarily disabled."

American companies parking income offshore to avoid tax will be taxed at a rate of 15.5% for cash and cash equivalents in the new GOP tax plan posted Friday. This is up from President Trump's initial 10%. After cutting taxes lawmakers had to source revenue elesewhere.

;Bitcoin Fever has taken hold across the world, the worse example appears to be in the US where FOMO players have pushed it on some exchanges as high as $19,500 (GDAX) where as more conventional (yes I did say that) exchanges saw $17,000. That in one problem; Price discovery, the South Korean PM sees it as much worse.

Bitcoin is currently the leading worldwide cryptocurrency and it is quickly becoming a popular alternative form of payment electronically. Be informed of the risks and how to counter them.

German chancellor Angela Merkel was out today saying "Europe needs a strong Germany, it is desirable to get a government in place quickly".  Germany still has not formed a government since she won the election but short of a majority. 

Goldman Sachs $GS  is partnering with the Chinese Sovereign Wealth Fund China Investment Corporation (CIC ) to invest $5 billion in American manufacturing WSJ is reporting via sources.

The Swiss National Bank Released it's Foreign Exchange Reserves and Swiss Franc Bond Investments (end of Q3 2017) and filed its U.S. stock holdings with the SEC. 40% of it's investments are in the euro with 35% in the U.S. Dollar. 68% in Bonds and 20% in stocks.

Right on cure for Halloween the CME announced it will be launching futures contracts for the cryptocurrency Bitcoin in Q4 2107 once regulatory measures are completed. Also right on cue Bitcoin launced to new all time highs.

The first half of the year saw a rush of cross border credit to China while cross border credit to advanced economies and most emerging markets fell, the largest falls were to  borrowers in Chinese Taipei (Taiwan), Brazil and Poland the Bank of International Settlements (BIS) said.

Google ads