<$ 400

Finweek English Edition - - IN BRIEF -

The cur­rent value (R4 947) of crypto-cur­rency Bit­coin, down from a high of $1 200 (R14 858) in 2013. The World Bit­coin As­so­ci­a­tion, with less than $300 000 (R3.7m) in li­a­bil­i­ties, ap­plied for bank­ruptcy pro­tec­tion in the US on 16 March.

“We don’t know – nor does the Fed know – ex­actly how much tight­en­ing will knock over the ap­ple cart. What we do hope the Fed knows, which we don’t know, is how ex­actly it will fix things if it knocks it over. We hope that they know that be­fore they make a move that could knock over the ap­ple cart.” – Ray Dalio, founder of Bridge­wa­ter As­so­ciates and one of the world’s most pow­er­ful hedge fund man­agers, and his col­league Mark Din­ner in a note to clients. Bridge­wa­ter warned that the US Fed­eral Re­serve may cause a 1937-style slump in eq­uity mar­kets. The Dow Jones Industrial Av­er­age dropped by a third in 1937 af­ter the Fed pre­ma­turely tight­ened money sup­ply af­ter four years of money print­ing, which led to a jump in eq­uity val­u­a­tions.

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