Global News: U.S Senator announces plan for 1-million-unit Bitcoin purchase program.
World Bank approves $1.5 billion in financing Ethiopia
The World Bank’s board has approved $1.5 billion in financing for its first ever budget support lending to Ethiopia, the lender said late on Tuesday as the east African nation tries to push ahead with a long-running debt restructuring.
Our thoughts
US called strategic bitcoin reserve and US wants to become the first developed nation to use Bitcoin as a saving technology.
Fact is that digital currency is the future and with events like this prosecuting cryptocurrency is gradually (slowly becoming main stream!)
Currently priced at 63,232.90USD, if this bill gets signed into law, Bitcoin (and other stable cryptocurrencies) are going to spike and stay up!
Why?
There is something called Bitcoin halving event that gradually reduces the amount of coins that can be mined i.e there will be more demand and less supply
Should you buy now?
I think it’s an audacious bill that will take a lot of time, back and forth and amendment to get passed (if at all) But if you have cash to take a little gamble on, then go for it.
Fundamentally, digital currency is here to stay.
African News: World Bank approves $1.5 billion in financing Ethiopia
The World Bank’s board has approved $1.5 billion in financing for its first ever budget support lending to Ethiopia, the lender said late on Tuesday as the east African nation tries to push ahead with a long-running debt restructuring.
Our thoughts
World bank approves $1.5 billion in financing for ethopia. Same story across Africa!
Ethopia needs to restructure its debt and fund its budget deficit. IMF steps in with the same playbook. “Significant economic reforms including liberating the FX market”
Fundamentally Africa nations need to start defending their economic security as the inflationary impact of these conditions is largely always felt by the locals.
Nigerian News: Youths' protest force nationwide sit-at-home
Nigerian youths’ protests on Thursday forced the majority of citizens to sit at their homes in various parts of the nation. Telcos, banks, filling stations, shops, malls, schools and major markets were under lock and key, with several of them staying away for fear of a repeat of the #EndSARS 2020 incident, where scores of people were killed and shops looted.
Our thoughts
Social unrest is one of the worst things that can happen to any economy especially one trying to resolve hyperinflation and rising debt. Economic decision need to be deployed and implemented painstakingly as they have direct impact on real human lives and living.
On the other hand protests and the consequent economic shutdown also has a negative impact on the economy.
People need to work daily, to eat so sitting at home or a shutdown in patronage is adding pepper to a gaping wound.
In summary, there is a need for dialogue, engagement, and implementation n of agreement. Without this, and consequent trust that will be built as it happens, the Nigeria economy and people will keep going round in circles
What’s happening at the Money Wit Club…..
https://youtube.com/live/wF4q1AHoqmU?feature=shar
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