A lot is occurring – the World Financial Discussion board is now on Day 3, Donald Trump is signing 100 government orders every day, and McDonald’s McRib is promoting sturdy.
“Might you reside in fascinating instances.” Individuals neglect that isn’t a Chinese language proverb, however a Chinese language curse!
It’s working. This yr’s Davos is all about Bitcoin and AI. Right here’s among the highlights thus far:
Jamie Dimon on Elon Musk: He’s ‘Our Einstein’
JUST IN: JPMorgan CEO Jamie Dimon says Elon Musk is our “Einstein.”
“SpaceX, Tesla, Neuralink. I imply the man is our Einstein.” pic.twitter.com/GRkzZtBk4c
— Watcher.Guru (@WatcherGuru) January 22, 2025
Jamie Dimon needs the world to know—he and Elon Musk have buried the hatchet. “Elon and I hugged it out,” Dimon casually dropped to CNBC at Davos, the Swiss playground for the worldwide elite. After a chat at a JPMorgan occasion, the 2 ironed out their beef.
Dimon didn’t maintain again with the reward, calling Musk’s ventures—Tesla, SpaceX, Neuralink—monuments of innovation. “The man’s our Einstein,” Dimon declared, rolling out the crimson carpet for future collaborations. “I need to assist him and his corporations nevertheless we will.”
This public rapprochement comes after JPMorgan dumped its $162 million lawsuit in opposition to Tesla over a contract spat involving inventory warrants. Appears Wall Road has moved on—or not less than Dimon has.
World Financial Discussion board: Doubts on Bitcoin as a Reserve Asset
Lesetja Kganyago, South Africa’s central financial institution chief, calmly dismantled the notion of Bitcoin as a strategic reserve. Addressing Trump’s pledge for a U.S. bitcoin reserve, he in contrast the thought to hoarding reserves of obscure commodities, dismissing it as impractical.
“There’s a historical past to gold. There was as soon as a gold commonplace,” Kganyago remarked. “If we now say Bitcoin, what’s subsequent? Platinum? Apples? Strategic beef reserves?”
The governor of the South African central financial institution scoffs on the concept of a strategic Bitcoin reserve asking, “Why not a strategic beef reserve? Why not an apple reserve? Why Bitcoin?!”
Brian Armstrong responds: pic.twitter.com/36LXDUxP5g
— Sam Callahan (@samcallah) January 21, 2025
His sharp comparability underscored his perception that Bitcoin lacks the historic and intrinsic worth of gold, elevating questions on governments adopting it as a reserve asset. Kganyago additionally voiced considerations over the affect of crypto trade lobbying in shaping monetary rules.
“If regulation goes to be established by means of the facility of cash, then now we have an issue,” Kganyago famous, pointing to the large sums the crypto trade has poured into political campaigns.
Coinbase CEO Brian Armstrong painted a starkly completely different image, applauding Trump’s stance on crypto and the potential it brings for the trade. Armstrong spotlighted the surge in Bitcoin’s worth following Trump’s re-election and famous the chances a Bitcoin reserve might unlock for the U.S. economic system.
“The Trump impact can’t be denied right here,” Armstrong said. “To have the chief of the biggest GDP nation on this planet overtly help crypto—that is unprecedented.”
Nooo!! The WEF Is Dangerous, Noo!!!
Whereas elements of Davos may be myopic concerning imaginative and prescient, the millionaires and billionaires at WEF additionally need greater taxes for themselves and fewer loopholes.
Based mostly? Hey, we’re not complaining. The factor is, nevertheless, there’s actually nothing stopping them from paying greater than they need to. In the event that they wished that, they’d have already been doing it.
So, like at all times, the WEF is a blended bag.
We’ll maintain you up to date in the event that they create that apple and beef tallow reserve, although.
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