ROME—In early 2021, the rare Sandro Botticelli masterpiece “Young Man Holding a Roundel” will be sold on an anonymous online auction through Sotheby’s in what will be a landmark blue-chip art sale in an industry that has suffered greatly during the pandemic with closed galleries, cancelled art fairs, and shuttered auction houses. The painting, which billionaire Manhattan art collector Sheldon Solow bought in 1982 for $1.3 million, is expected to go for more than $80 million, marking the largest ever online art sale—pandemic or not. It is also what art dealers are calling a “test run” for the future of an […]
Boom
19 posts
As relations between the world’s two major economies, the US and China, continue to deteriorate, RT’s Boom Bust talks to Professor Richard Wolff about what’s really going on. “What we’re seeing is mostly posturing by Mr. Trump for domestic electoral votes,” he says, adding that the US president thinks the bashing of China could gain him some kind of support. “This is a way of keeping attention, positioning himself for the American market as a ‘tough guy’ but for the rest of the world as seeking some kind of accommodation.” Wolff adds that “Once the election is over, whoever wins will […]
A patron stands in front of a shelf full of wine bottles at a liquor story in the Brooklyn borough of New York City on March 20. Angela Weiss/AFP via Getty Images hide caption toggle caption Angela Weiss/AFP via Getty Images A patron stands in front of a shelf full of wine bottles at a liquor story in the Brooklyn borough of New York City on March 20. Angela Weiss/AFP via Getty Images When the coronavirus swept the country, a lot of things government did in response were controversial. Politicians fought over mask-wearing rules and quarantine restrictions. But one policy, making […]
Russian MMA promotion ACA has been producing spectacular fights, and spectacular finishes, for years, and their latest event, ACA 110, didn’t disappoint as unbeaten featherweight prospect Askhab Zulaev scored a huge knockout win. Lined up against Kyrgyzstan’s Zhorabek Tesheboev, Zulaev faced a prospect with an identical 7-0 record to his own. And as the fight progressed, the pair served up a thrilling, back-and-forth encounter. But the action came to a spectacular end early in the third and final round of their featherweight matchup as the pair both loaded up in an attempt to score a late knockout. Teshaboev launched into a […]
Donna Redel is the former chairman of COMEX, a board member of New York Angels and an Adjunct Professor of Law at Fordham Law School. Olta Andoni is an Adjunct Professor at Chicago-Kent College of Law and Of Counsel at Zlatkin Wong, LLP. A corner of the crypto universe representing less than 1% of total market capitalization of crypto assets has been grabbing the headlines since June. This is the world of decentralized finance, or DeFi, which alternatively is referred to as the center of innovation, an experiment or the new wild, wild west where projects move fast and break things. […]
PLEASE SUBSCRIBE TO OUR YOUTUBE CHANNEL https://www.youtube.com/channel/UCSMiDddiIFSOxakL83fG6GA/ Austin Steinbart (left) , Mike Harris (right) In this episode and interview with Austin Steinbart, we discuss the question many people ask: Is the Q-Anon movement a disinfo psyop to keep people from taking action? We were told to “trust the plan” and to “trust sessions”. To date we have seen little movement and people are becoming frustrated with the lack of concrete action.What is the main feature of the interview is the simple acknowledgement that virtually everyone in the USA knows something is drastically wrong. The left is rioting and burning cities to […]
The Trump administration’s decision to close down China’s consulate in Houston is just another example of “political theater” that could bring more pain to the US economy in a time of crisis, according to Professor Richard Wolff. The host of Economic Update sat down with RT’s Boom Bust to discuss the deteriorating relations between the world’s two biggest economies. Wolff believes that profits of American corporations will fall victim to the ongoing rift. He also stressed that, as well as inflicting losses on US businesses, Washington’s aggressive policies against China could hike prices and hurt American consumers. “The United States needs […]
Metal prices, including gold and copper, have been rallying during the Covid-19 pandemic. Gold has gained over 15 percent since March, while Industrial metal copper has surged 35 percent over the last four months. RT’s Boom Bust is joined by CEO of Euro Pacific Capital Peter Schiff, who projects that all the metals will be driven much higher by inflation. The veteran stockbroker says he is “bullish on copper,” adding that for different reasons he is also bullish on gold, which is used in industry too – though not as widely as copper. The factor driving gold prices higher is that […]
Coinbase is said to be preparing to go public, CENTRE blasklisted a decentralized address and U.S. sanctions on China could trickle down to crypto brokerages. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Coinbase Listing?Coinbase is reportedly preparing to list on the U.S. stock market sometime in early 2021, according to a Reuters report. Sources said the exchange has already begun the process for a listing. Rather than an initial public offering, it’s said the firm […]
The Trump administration’s anti-China policies, including tariffs and attacks on telecoms giant Huawei, have forced the Chinese government to tighten its grip over Hong Kong, an analyst tells RT. Speaking to RT’s Boom Bust on the developments in the Chinese territory after Beijing imposed its national security law, Jeffrey Tucker of the American Institute for Economic Research said that it’s unclear how the bill will affect the economy. Some businesses operating in Hong Kong are now concerned that they could be found violating some provisions of the law, and face penalties varying from fines to confiscation of funds. “The US has […]
President Trump delivered an unforgettable speech on Friday night at Mount Rushmore National Park in South Dakota. The president defined the current battle between good and wickedness in America today. President Trump vowed to defend America, its heroes and its history. This is while Democrats vow to tear down statues, rewrite history and defund police. President Trump unloaded on the violent far left movement that is wreaking havoc in America today from coast to coast. TRENDING: LIVESTREAM VIDEO: Via RSBN– President Donald Trump with First Lady Melania Speaks at Mount Rushmore on July 4th Weekend 10:10 PM ET In concluding his […]
Nexus Mutual is maxed out covering the risks associated with decentralized finance (DeFi) platforms. “Our product has honestly seen massive interest since yield farming kicked off,” Nexus Mutual founder Hugh Karp told CoinDesk in an email. “With potential yields being so lucrative many users are looking to protect themselves against the risk of smart contract failure.” Nexus Mutual provides a way to hedge against the risk posed by smart contracts, with policies that pay out against a failure in the underlying software of a DeFi product within a given time frame. “In particular, there is big demand coming from hedge funds […]
Despite the COVID-19 e-commerce boom, bitcoin is hardly seeing more merchant usage as a transactional currency than it was five years ago. “We’ve been doing this for six years and it’s still very rough around the edges,” said Brian Hoffman, co-founder of OB1, maker of crypto marketplace app Haven and its desktop counterpart, OpenBazaar. The Haven app has logged 30,000 downloads since launching in July 2019. Since there’s a fine line between open commerce and bitcoin-fueled black markets, Hoffman said compliance costs are a chief concern for his startup. Any seller can list any item using the open-source protocol, but only […]
Until recently, India’s crypto industry had much reason for optimism. In March, the country’s Supreme Court overturned a ban on banks working with exchanges, clearing a major hurdle. Then the coronavirus pandemic seemed to improve the business case for digital currency, with several exchanges reporting steep growth in users. Now, uncertainty is back. The government may be about to ban crypto altogether, according to media reports, and India’s central bank has been unhelpfully unclear about its guidelines for commercial banks. There are dozens of unanswered questions, and startups are back to asking, ”What’s next?” The uncertainty is hard for crypto businesses […]
While revoking Hong Kong’s preferential treatment may be catastrophic for the city’s financial system, the move could also backfire on the US itself and even challenge the dollar, Boom Bust has learned. On Friday, US President Donald Trump said he would end the special trade relationship with Hong Kong and impose sanctions on Chinese officials who backed the recent national security law. For the former British colony, the move could mean that it will become subject to US tariffs on China and lead to the city’s demise as one of the major global financial hubs. “Most importantly there is a free […]
The United States has issued a new regulation aiming to limit chip exports to Chinese tech giant Huawei. The firm said its business will “inevitably be impacted” and that “survival is the key word” for the company at present. RT’s Boom Bust is joined by John Quelch, Dean of Miami Business School, to talk about the future of US-China relations. Huawei will be able to survive, Quelch says, adding that Washington aims to slow down the Chinese company’s efforts to globally dominate the 5G market. “The consumer division of Huawei accounts for about 50 percent of its total sales, and this […]
As part of the ‘phase one’ trade deal, Beijing on Tuesday issued a new list of US products to be exempt from trade tariffs. This came as the US threatened to terminate the deal if China fails to meet its purchase commitments. RT’s Boom Bust is joined by Todd Horwitz of Bubba Trading and the CEO of Transformity Research Tobin Smith to talk about the possibility of ‘phase two’ and which of the two countries is best positioned when it comes to trade deals. China will not adhere to this deal, says Horwitz, noting “they’ve already got the WHO and the […]
The US 10-year Treasury bond yield fell 0.7 percent in response to the latest report of jobless claims. That comes a week after the Treasury said it would borrow a record $2.99 trillion this quarter, and launch a 20-year bond. RT’s Boom Bust talks to former Federal Reserve insider Danielle DiMartino Booth about what all that means for the future. “We’re starting to see the actual numbers come out. It’s no longer $25 trillion of debt in theory…” she said. “This is reality, folks. The Treasury will have to borrow a lot of money, and it’s a unique time when the […]