Schiff urges China to crash Dollar, Ray Dalio warns of global meltdown, Bitcoin set to go ‘Nuclear’, and more in this Week in Review.
Week in Review
Peter Schiff has urged China to retaliate in the trade war by dumping U.S. dollars and buying gold. Meanwhile, Ray Dalio warns of an impending once-in-a-lifetime global economic meltdown, masked by short-term distractions like tariffs. Strike CEO Jack Mallers claims Bitcoin is poised to surge as governments turn to fiat printing, especially in Europe and China. In the U.S., inflation has dropped to 2.4%, potentially clearing the way for a Fed rate cut. Finally, the crypto industry scored a big victory as Trump dismantled an IRS rule seen as a threat to DeFi, paving the way for renewed innovation.
Schiff Urges China to Crash Dollar, Buy Gold Amid Trade War
Peter Schiff has suggested that China resolve its trade deficit with the U.S. by dumping its U.S. Treasuries and dollars… read more.
Editor’s comment: Schiff’s argument seems to indicate that China’s Yuan should replace the US as reserve currency. This doesn’t take into account key fundamental considerations like the fact that a surplus nation such as China, the largest in history, can’t both be an overwhelming net exporter and also the reserve currency.
Ray Dalio Warns of a Once-in-a-Lifetime Global Meltdown Masked by Tariff Distraction
Ray Dalio warns global markets are sleepwalking into a once-in-a-generation collapse driven by debt, division… read more.
Editor’s comment: I’ve found that the more level-headed takes from the U.S. tariff fallout have largely landed on many of the themes Dalio speaks to in this piece.
Bitcoin Set to Go ‘Nuclear’ as Governments Flood the World With Fiat, Says Strike CEO
The trade war initiated by Trump has rattled global markets, and Jack Mallers, the CEO of Strike, posits that bitcoin… read more.
Editor’s comment: While America might not be ready to print money, it appears the EU and China are on the cusp to print a lot of new money.
US Inflation Rate Plummets to 2.4% Amid Tariff Pause
The U.S. inflation rate notably slipped in March, bringing the 12-month inflation rate down to 2.4% from its February standing… read more.
Editor’s comment: Lower inflation rates gives the Fed more cover to lower interest rates. All eyes are on May’s FOMC meeting!
Massive Win for Crypto: Trump Crushes IRS Rule Threatening DeFi Survival
Trump just obliterated the IRS’s controversial DeFi reporting mandate, turbocharging crypto innovation and slamming… read more.
Editor’s comment: The IRS rule is finally done. Expect changes for defi tokens soon.
