During a recent YouTube livestream, Morgan Creek Digital co-founder and crypto expert Anthony Pompliano detailed the current post-COIVD-19 economy, noting the U.S. government’s money printing and spending efforts. “There is a devaluation of currency,” Pomliano said in his July 18 livestream. “The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff.” Assets up while the economy…
Day: July 18, 2020
Pomp Says Unemployment Has Risen Faster Than in the Great Depression
Morgan Creek Digital co-founder Anthony Pompliano, also known as Pomp, jumped on a YouTube livestream on July 18, talking about the current economic state and its future. “In 1929, which was the start of the Great Depression, there was 3.1% unemployment — record low — and that unemployment jumped from 3.1% to over 8.5%, to then over 15% in the next two years,” Pomp said. “What you end up seeing is we have accelerated faster on the unemployment track than even in the Great Depression.” April 2020 saw 14.7% unemployment…
Abra Building Banking Solutions on Stellar Blockchain, CEO Barhydt Says
Abra, the company behind the global crypto and fiat wallet and exchange app of the same name, plans to give the world banking services underpinned by Stellar’s blockchain — one of the results of the SDF’s $5 million investment in Abra earlier in 2020. During the SDF’s digital second quarter review meeting on July 15, Abra CEO Bill Barhydt mentioned Abra’s focus on upcoming banking-type features the company is building out. In particular, Barhydt noted an “interest-earning capability” expected to hit the market in the coming weeks. Abra details upcoming…