In New Zealand, monetary policy will now take into account housing prices, due to their rapidly rising prices. Something the Federal Reserve refuses to do. Rising home prices are not included in the Consumer Price Index calculation, which instead uses a system of “imputed rents” to figure the cost of housing and accounts for almost…
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Cryptocurrencies are treated as property by the IRS. Tax rules that apply to stocks, also apply to cryptocurrencies. So, if you have a profit from the sale of cryptocurrencies, you will pay a capital gains tax. The amount of capital gains tax you pay is dependent upon both your income and the time duration you…
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Cryptocurrencies experienced a market-wide crash between last night and today. Bitcoin plunged nearly 20%, many altcoins dropped more than 25%.Why did this happen? Did anyone predict or foresee it? The answer is no on both counts. I spent all morning pouring through various websites, blogs, and forums to see if anyone called this – because…
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LIBOR is the London Interbank Offered Rate – used for many decades in a wide variety of financial products like small business loans and adjustable rate mortgages. LIBOR is being phased-out in favor of the Secured Overnight Financing Rate (SOFR).Why is it being phased-out?Mostly because of it’s volatility and lack of transparency. As a result,…
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