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The stock market closed out its worst week in more than two months Friday as a second straight day of turbulent trading ended with more losses.
In a world suffering a pandemic, cash is no longer king
Major central banks have joined together to explore whether they should issue digital currencies as the use of cash declines and more people turn to electronic forms of paying.
U.S. stocks plunged to their worst loss of the year Monday, and investors around the world scrambled to sell on worries about how much President Donald Trump’s worsening trade war will damage the global economy.
President Donald Trump on Wednesday accused China and Europe of playing a “big currency manipulation game.” He said the United States should match that effort, a move that directly contradicts official U.S. policy not to manipulate the dollar’s value to gain trade advantages.
Facebook’s new Libra digital currency is aimed at a huge potential market for financial services – the entire developing world, with billions of people in areas such as India and Sub-Saharan Africa, where financial services are often less sophisticated and many people don’t use traditional banking accounts.
Facebook already rules daily communication for more than two billion people around the world. Now it wants its own currency, too.
Money used to be printed in Spokane, Hillyard and cities across the United States.
Some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States – an indication that they are ready to endure economic pain and risk further deterioration in a key, yet troubled alliance dating from the Cold War.
Turkey announced Wednesday it is increasing tariffs on imports of certain U.S. products, escalating a feud with the United States that has helped trigger a currency crisis.
Turkey’s central bank took action Monday to free up cash for banks as the country grapples with a currency crisis sparked by concerns over President Recep Tayyip Erdogan’s economic policies and a trade and diplomatic dispute with the United States.
Venezuela’s currency has become virtually worthless, making it better used to turn colorful bolivar bills into a purse than to spend them on a purse – or anything else.
Local residents can use cash and their driver’s license to buy cryptocurrency at a new bitcoin ATM in the Spokane Valley Mall.
The Trump administration is again declining to name China as a currency manipulator, but it did target that country and five others for special monitoring of practices that the administration says are making America’s trade deficit worse.
It may be a while, if ever, before investors can buy an exchange-traded fund made up of bitcoin and other digital currencies.
Digital currency prices wobbled Thursday after South Korea, a hotbed for currencies like bitcoin, said it will consider a trading ban.
What’s a bitcoin worth? Lately nobody knows for sure, but it’s far less Friday than it was Thursday.
As Venezuela’s national currency loses value at a catastrophic rate, thousands have begun turning to the world of cryptocurrency to salvage what little value remains from their increasingly worthless bolivars.
The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major U.S. exchange.
The price of bitcoin surged through $10,000 on Wednesday, adding to its ten-fold jump in value this year and fueling a debate as to whether the virtual currency is gaining mainstream acceptance or is merely a bubble waiting to burst.