2/7/2021 Financial News: Nucleic Acid Testing Business in Communist China; An Era of Big Inflation is Coming?

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1.Nucleic acid testing may become the most profitable business in Communist China during the Chinese New Year

The Ministry of Transportation of Communist China predicts that “about 1.7 billion people will travel” during the Spring Festival of 2021, nucleic acid testing will become a necessary pass. Under the huge demand, far beyond the service capacity that public hospitals can carry, the third-party/independent medical laboratory (ICL) will become an important supplementary role. On January 20, the National Health Commission clearly stated that those returning home during the Spring Festival must return home with a valid negative result of the new coronavirus nucleic acid test within 7 days. After returning home, a home health test will be carried out for 14 days, during which a nucleic acid test will be carried out every 7 days. In other words, each person has to perform at least 3 nucleic acid tests at his own expense during the return home.


2.Bitcoin jumped over $40k again

On Saturday, Bitcoin once again stood above $40,000 per coin, the first time since January 14. As of press time, Bitcoin reported $40242.7, an increase of over 5%. However, with the further expansion of the increase, more and more short positions have been liquidated. According a Bitcoin monitoring website, about 89,000 people’s account were busted.


3.SWIFT sets up joint venture with CCP’s central bank

SWIFT, the global system for financial messaging and cross-border payments, has set up a joint venture with the CCP central bank’s digital currency research institute and clearing center. SWIFT has 55% equity and is the largest shareholder. The CCP’s Central Bank Clearing Center is the second largest shareholder, accounting for 34%; the Central Bank Digital Research Institute accounts for 3%.

It looks like swift is a major shareholder, but the real right to speak lies in the hands of the Central Bank of the Communist Party of China. This structure is the result of the interest blending of the Chinese Communist Party to promote the internationalization of digital RMB.

4.Beijing will issue 10million digital RMB red envelope

Following Shenzhen and Suzhou, consumers in Beijing are finally expected to receive digital RMB red envelopes. On February 6, according to the Beijing Municipal Financial Supervision and Administration Bureau, the digital RMB pilot program will officially start in the early morning of February 7. This event was hosted by the People’s Government of Dongcheng District, Beijing, and distributed 50,000 digital RMB red packets to individual consumers in Beijing. The red envelopes are issued in the form of lottery, and the amount of each digital RMB red envelope is 200 yuan, and the winning red envelope can be used online and offline without distinction by designated merchants.


5.Shipping costs soared 6 times

According to the “Financial Times” report, the cost of shipping goods from Communist China to Europe has more than tripled recently, hitting a record high because the shortage of empty containers caused by the pandemic disrupted global trade. Shippers and importers say that the cost of shipping a container from Asia to Northern Europe has risen from about US$2,000 in November last year to more than US$9,000.


6.Amazon’s swampy lobbying for $15 minimum wage to crash local business

A top Amazon executive, Jay Carney, recently wrote a letter endorsing the Democratic push to more than double the minimum wage nationwide. Obviously, it would not be in Amazon’s self-interest to pursue this lobbying campaign. In fact, large corporations are often able to pass the entire cost of a minimum wage hike on to consumers. Because low-income people are disproportionately consumers of fast food, this could mean that their true wages, wages relative to buying power, don’t improve as a result of a minimum wage hike as much as you’d expect.


7.Commodities are soaring 25%

ZeroHedge posted an article on Feb 6, pointing out something remarkable which many may have missed amid the short squeeze and “growth” stock frenzy: oil, that “value” age relic, has had its best YTD performance in 30 years. With every major developed economy still printing headline and core inflation below 2%, this is not today’s problem, but there is a reason for that: metrics such as CPI and PCE are politically convenient measures that strip away virtually all basket components whose prices are surging to give central banks leeway to pursue politically acceptable policies of reflating all assets.


By 【Financial Team】

News Collection: 文罡、Totoro

Proof-reading: 小蚂蚁在行动

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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