Not entirely true (except for the making markets part, though even that might not be true). To the extent that it is true, that's cryptos best feature.
*Investors Blog*
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Owen Lucas
$100 Site Donor 2023
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Black Rock is getting behind some cryptos supposedly, there's your central bank.
What central bank (or reputable central bank) stands behind a private coin?
Most central bank policy has always been propping up the fractional reserve monetary system and the treasury - primarily through currency devaluation - ie it punishes savers. Bad for savers, good for equity investors and people using leverage.
I agree at least for BTC that no bank backing it is a feature not a bug - according to its proponents at least, and is by design. Again, I don't own any, and not advocating anyone do - just trying to understand BTC specifically.
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Not trying to argue the merits of Fed action. Just saw someone assert that some? coins have central bank backing. I don’t think that is accurate.
I think I agree. Im not crazy about the US government having a digital coin. WOW, complete control over the population. (no politics)
Anyway, I have owned XRP for many years, so long, the coins are on an old computer and I REALLY need to get them off, assuming I figure it out (I will) and the computer works after sitting in storage forever. When I first purchased it, there was no place like coinbase to store it. ( I was truly ahead of my time! *LOL*) If and when, I think I can now transfer it from my hard drive to coinbase.
I always understood what XRP was about and why I bought it in addition to some bitcoin at the time which I got rid of since, never lost money but XRP its still only about 25-ish% more than I paid for it, though at times it was almost 100% more but never got rid of it. Anyway, I just looked up to see if any back supports it and no. BUT many banks do use it to transfer funds.
Interesting read for me, maybe not others. Banks can transfer funds internationally in 3 to 5 seconds using XRP and Australia has a working relationship with them. Im not advocating buying XRP just telling a story. Obviously I wish I sold that and kept the bitcoin.
https://dailycoin.com/which-banks-use-xrp-exploring-ripple-global-network/
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Yes, I agree with this. Some places like El Salvador have adopted bitcoin as there medium of trade but they have no functioning central bank.
They already have it. Its called USD in your bank account, which you spend and deposit without any actual paper, and which they can freeze at any time.
But they dont know where I spend my dollars, soon they will know or be able to track it I am sure. Maybe I am wrong but I read an article on it and I am sure most is true.
BTW- I recently read something to the fact the Fed coin already exists in the sense they are testing it.
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Dumped GM just now. I knew I should have but didnt sell when I was up roughly 15% in 3 weeks...
Since it hasn't gone as I hoped and now another major manufacturer - Stellantis cutting outlook right now... Im out. For now, that can change tomorrow or not. Shouldnt affect GM and it may not but think I will be able to buy it lower if I dare. Who knows. GM is jsut a trade for me nothing more, not a long term for me.
No loss no gain except for 0.30% gain *LOL* Darn it.
Purcahase -
Sold -
Good News - Meta continues its slow but steady climb since I bought it June 6. now up 14% as this post.
Only other Holding in this account in my long term WMT
and ... now I have ex GM cash to invest again which was previously ex NVDA cash .... not going anyplace fast with this portion of my account though its a smaller portion compared to META and WMT
Since it hasn't gone as I hoped and now another major manufacturer - Stellantis cutting outlook right now... Im out. For now, that can change tomorrow or not. Shouldnt affect GM and it may not but think I will be able to buy it lower if I dare. Who knows. GM is jsut a trade for me nothing more, not a long term for me.
No loss no gain except for 0.30% gain *LOL* Darn it.
Purcahase -
Sold -
Good News - Meta continues its slow but steady climb since I bought it June 6. now up 14% as this post.
Only other Holding in this account in my long term WMT
and ... now I have ex GM cash to invest again which was previously ex NVDA cash .... not going anyplace fast with this portion of my account though its a smaller portion compared to META and WMT
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JHZR2
Staff member
Question for everyone on money market shares and their expense ratios.
Take Schwab money market SWVXX - seems like a decent spot to park some cash for a bit. It returns 4.73% or something like that.
They pay a dividend monthly I believe.
Is the rate of return after their 0.35% expense, or else how do they recover it? I’d assume it’s just a marginally lower rate of return but I can’t tell.
Take Schwab money market SWVXX - seems like a decent spot to park some cash for a bit. It returns 4.73% or something like that.
They pay a dividend monthly I believe.
Is the rate of return after their 0.35% expense, or else how do they recover it? I’d assume it’s just a marginally lower rate of return but I can’t tell.
That floating rate is the rate they pay, so yes after expenses. Invisible to you, sorta.
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That's where my cash is parked. The yield curve has inverted - historically, the DJIA starts to fall about 5 months after that happens. Historically... Are things going to be different now?
Wish I could tell you, but its been good to me.
SWVXX claims to pay 4.74% over the last 7 days (its a daily rate)
However my last payments (2 different accounts) was 0.45% roughly - the payment divided by the principle. Thats one month, so x12 = 5.4% - again roughly. So I really can't figure it out. But I am happy with it.
Nope, right on script. Inflation starts, fed behind. Yield curve inverts on the front end. Fed continues to raise rates, inflation cools, fed drops rates causing a bull steepener (short rates fall faster than long rates). Inflation continues to cool, real economy slows. Business cycle 101.
I don't know if we can get a recession though with 7% of GDP being printed. Were in fiscal dominance. There calling it "soft landing" but its really a private sector recession with the only real growth coming from government sponsored things. Just look where the job growth is - government and health care.
Rate is forward looking, your $ is back pay, so to speak, hence the dregs of the higher rate. My guess!
That would be my guess but its never been over 5% in the time I have had it. I don't have much in it - Schwab is my equity trading account, and there sweep account pays zero, so I put money in SWVXX when I don't have anything to buy.
I ask my Schwab reps how the expenses work. Not sure I understand everything, but I am happy with them.
After all, I am the only one responsible for my personal finances.
You are asking the right questions, IMO.
If this is the "October Suprise" I don't think it's going to help the incumbents.
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This is what the media is saying. Meaning they are saying, the strike started on October 1st. But because of the job I'm currently in, I can tell you the "strike" started days ago. Don't rely on the media folks.
