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If Trump fires the Fed’s Powell ‘both the currency and the bond market can collapse,’ according to Deutsche Bank (fortune.com)

submitted 4 days ago by babysandpiper@sopuli.xyz to c/economics@lemmy.world

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If Trump gets his way and removes Jerome Powell as chairman of the U.S. Federal Reserve, the market reaction would be swift and brutal, Deutsche Bank’s George Saravelos argues.

It could collapse the currency and bond markets, he says in a note seen by Fortune. Polymarket puts the chances of a Powell ouster at 19%.

“We consider the removal of Chair Powell as one of the largest underpriced event risks,” Saravelos says.

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[–] explodicle@sh.itjust.works 1 points 3 days ago (2 children)

Unless there's a bug in Monero that nobody has discovered yet, which would explain why it keeps losing value relative to bitcoin.

[–] swelter_spark@reddthat.com 2 points 3 days ago (1 children)

Bitcoin seems to change value more dramatically than Monero, from everything I've seen. That works both ways, though.

[–] explodicle@sh.itjust.works 3 points 3 days ago (1 children)

That is weird. It should have gone up a lot since 2018 because of the smaller market cap and excellent fundamentals.

I can't even argue with you. It's practically a stablecoin by crypto standards.

[–] swelter_spark@reddthat.com 3 points 3 days ago* (last edited 2 days ago) (1 children)

My understanding is that it was deliberately designed that way because it was intended to be used as a medium of exchange and not a vehicle for investment.

[–] explodicle@sh.itjust.works 1 points 2 days ago (1 children)

One of those fundamentals is a tightly scheduled supply. The tail emission is just to ensure mining security and is insignificant compared to XMR appreciation. That's why the guy above saves gold and Monero.

[–] shortwavesurfer@lemmy.zip 1 points 2 days ago* (last edited 2 days ago)

Hell yeah. Also have a look at XMRBazaar.com where you can buy and sell legal goods and services directly for Monero. X premium, Spotify, Canva pro, laptops, houses, cars, etc. are all on there and many things are priced directly in Monero.

[–] shortwavesurfer@lemmy.zip 1 points 3 days ago

While that is a possibility, there are a lot of incredibly intelligent people who do their absolute best to make sure that that does not happen.

And just like Bitcoin, upgrades are only deployed after they have been thoroughly vetted and torture tested to hell.