BITCOIN

Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang held talks with French Minister for Europe and Foreign Affairs Catherine Colonna in Paris last week, according to a statement by China’s Ministry of Foreign Affairs. According to the Chinese foreign ministry, both Qin and Colonna view French President Emmanuel Macron’s state visit to China as “a complete success,” stating that the French leader “had an in-depth exchange of views with President Xi Jinping during his visit to China and deepened his understanding of China.” The Chinese foreign minister stated: “China is ready to work with France to follow through on the important com

Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warned. Harvard Professor of Economics Kenneth Rogoff on U.S. Default and Global Financial Crisis Harvard economics professor Kenneth Rogoff shared his view on the U.S. economy, a possible U.S. default, and a global financial crisis in an interview with ET editor Srijana Mitra Das, published Thursday. Rogoff is a professor of Economics and Maurits C. Boas Chair of International Economics at Harvard University. From 2001–2003, he served as Chief Economist and Director of Research at the International Monetary Fund (IMF). He was asked whether the current U.S. debt crisis and its potential default could “bring back the risks of a global recession.” Rugoff replied: Absolutely. The risks exist

Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto news, Bitcoin’s network congestion issues began to ease this week. All this and more just below, in the latest Bitcoin.com News Week in Review. Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’ Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail,’” Musk warned. Read More Dave Ramsey Dismisses De-Dollarization Concerns — Says BRICS Currency, Chinese

A recent Gallup Poll reveals a significant decline in the percentage of Americans favoring real estate as their preferred long-term investment, despite its continued popularity. Conversely, the Gallup survey indicates that the perception of long-term investments in gold has experienced an almost twofold increase compared to the previous year’s poll on the same topic. Gallup Poll Reveals Preference for Real Estate and Crypto Slides, While Bias Toward Gold Nearly Doubles Gallup, Inc., the analytics and advisory company headquartered in Washington, D.C., recently unveiled its latest Gallup Poll on long-term investments on May 11, 2023. With a history dating back to 1935, Gallup has been conducting public opinion polls worldwide. The poll, conducted from April 3 to April 25, 2023, delves into various investment options such as real estate, gold , stocks, bonds, and crypto assets . The results were derived from telephone interviews held during the same period, involving a randomly sele