That’s what’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected. Crypto lender and broker Voyager Digital, which also took deposits and offered yield products with huge interest rates of up to 12%, said in a series of tweets today that it is, “actively pursuing […]
QE creates money. QT does the opposite: it destroys money. Total assets on the Fed’s weekly balance sheet as of July 6, released this afternoon, fell by $22 billion from the prior week, and by $74 billion from the peak in April, to $8.89 trillion, the lowest since February 9, as the Fed’s quantitative tightening (QT) […]
https://pricklypear.news/wp-content/uploads/fedtaper.jpg339509Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-07-11 01:58:452022-12-15 09:05:43Fed’s QT Kicks Off: Total Assets Drop by $74 Billion from Peak, New Era Begins
A chart like this is an indictment of Wall Street and the hype-and-hoopla machine that pumped and dumped this stuff on the most gullible retail investors ever. Crypto-trading platform Coinbase hired Goldman Sachs in late 2020 as a financial advisor for its efforts to go public. They decided eventually to go public via a […]
https://pricklypear.news/wp-content/uploads/bitcoin-balloon.jpg339509Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-06-30 01:55:282022-12-15 09:05:43Goldman Sachs Cut its Hype-and-Hoopla Creature Coinbase to Sell after it Collapsed 87%, as Crypto “Trading Activity Dries Up”
The June sell-off did a job on them. Manhattan luxury real estate vs. stock market downward spiral in June: In the week through June 19, only 12 sales contracts were signed for condos, co-ops, and townhouses with asking prices of $4 million and above, the worst week since the week of December 28, 2020 […]
https://pricklypear.news/wp-content/uploads/luxury-home-2953371__340.jpg340510Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-06-28 01:50:162022-12-15 09:05:43Stock Market Swoon Pulls Rug Out from under Luxury Home Sales
Margin debt issued warnings starting in early 2021 that the Big S would hit the fan. Folks blew it off. Editors’ Note: Wolf Richter makes a brief point about “securities-based lending” (SBL) that deserves some additional commentary. This has been all the craze at major brokerage houses, which encourage both advisors and clients to […]
Leverage & Interconnectedness Are Blowing Up Crypto & DeFi
/in Culture War, Economy, Featured, Personal Finance/by Wolf RichterThat’s what’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected. Crypto lender and broker Voyager Digital, which also took deposits and offered yield products with huge interest rates of up to 12%, said in a series of tweets today that it is, “actively pursuing […]
Fed’s QT Kicks Off: Total Assets Drop by $74 Billion from Peak, New Era Begins
/in Economy, Featured, Personal Finance, Politics/by Wolf RichterQE creates money. QT does the opposite: it destroys money. Total assets on the Fed’s weekly balance sheet as of July 6, released this afternoon, fell by $22 billion from the prior week, and by $74 billion from the peak in April, to $8.89 trillion, the lowest since February 9, as the Fed’s quantitative tightening (QT) […]
Goldman Sachs Cut its Hype-and-Hoopla Creature Coinbase to Sell after it Collapsed 87%, as Crypto “Trading Activity Dries Up”
/in Economy, Featured, Personal Finance/by Wolf RichterA chart like this is an indictment of Wall Street and the hype-and-hoopla machine that pumped and dumped this stuff on the most gullible retail investors ever. Crypto-trading platform Coinbase hired Goldman Sachs in late 2020 as a financial advisor for its efforts to go public. They decided eventually to go public via a […]
Stock Market Swoon Pulls Rug Out from under Luxury Home Sales
/in Economy, Featured, Personal Finance, Politics/by Wolf RichterThe June sell-off did a job on them. Manhattan luxury real estate vs. stock market downward spiral in June: In the week through June 19, only 12 sales contracts were signed for condos, co-ops, and townhouses with asking prices of $4 million and above, the worst week since the week of December 28, 2020 […]
Margin Debt Unwinds Further amid Massacre of High-Flying Stocks and Forced Selling
/in Economy, Featured, Personal Finance/by Wolf RichterMargin debt issued warnings starting in early 2021 that the Big S would hit the fan. Folks blew it off. Editors’ Note: Wolf Richter makes a brief point about “securities-based lending” (SBL) that deserves some additional commentary. This has been all the craze at major brokerage houses, which encourage both advisors and clients to […]