Bitcoin is a primary means of capital flight out of China. How long will that last? Here’s one key thought on bitcoin from the article: “OKCoin is among cryptocurrency exchanges that has recently taken steps to halt bitcoin withdrawals amid efforts to clamp down on capital outflows.” When China launches its own cryptocurrency, will it ban Bitcoin transactions? If so, what happens to the price of Bitcoin?
As the dollar drops, and fears over US trade action may exaggerate capital outflows in China, Bitcoin has renewed its rally post-Golden Week to new record highs. The virtual currency is up 10 days in a row as we noted previously that the Chinese have discovered a workaround for the PBOC's crackdown on Bitcoin exchanges.
Confirming President Trump's concerns about US national debt levels, and that new policies will likely have limited impact in 2017, Treasury Secretary Mnuchin's comments this morning have sparked buying in bonds, bullion, and marginally in stocks as the dollar gets monkey-hammered.
Despite concerted efforts by authorities to crackdown on capital outflows - specifically through virtual currencies - prices for Bitcoin are soaring as the Chinese find way around regulatory controls. Bitcoin just topped $1100 - near record highs - as Chinese traders shift their action off regulated-exchanges to local peer-to-peer marketplaces.
Mr. Trump doesn’t seem to be an “internationalist,” seeking to build a new world order by political and military means. If that is so, he will sooner or later have to come to grips with the Fed’s policies - most notably with its liquidity swap agreements.
Vancouver’s multimillion-dollar homes are not only out of reach for most Vancouverites, they are rapidly becoming a self-contained ghost town, because nothing speaks to the Canadian city’s affordability crisis more than its empty houses acquired by "hot money" laundering Chinese: as of the end of 2016, the number of Vacant or temporarily occupied houses more than doubled since 2001 to a whopping 66,719.