China’s monetary stimulus, Greece’s banking collapse and world of bitcoin
China cut its reserve ratio by 50 basis points to 19.5% in an effort to keep more credit from flooding into the system, as well as a way to guarantee against bad loans. The slowdown is deepening due to a number of factors. Erin weighs in. Steve Hanke, professor of applied economics at Johns Hopkins University, looks whether the Chinese move will boost lending or growth, and warns that the world is too focused on the sovereign debt issues and overlooking how important the crisis at Greek banks still is. Charles Allen, CEO of the Bitcoin Shop, tells us how bitcoin’s volatility has affected his company and how potential regulation could help or hurt the digital currency. And in The Big Deal, Erin and Edward Harrison discuss bitcoin, net neutrality and China.
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