Bloomberg Businessweek
China Hacked Treasury Dept. in ‘Major Incident,’ US Says
Dec 31, 2024
Alan Hibbard, Precious Metals and Alternative Money Specialist at GoldSilver.com, discusses the rising significance of gold as a safe haven, projecting prices may soar beyond $3,000 per ounce by 2025, while contrasting it with Bitcoin's challenges as a transactional currency. Madison Muller, Bloomberg News Health Reporter, dives into the healthcare sector's future, highlighting the impact of emerging weight loss drugs and potential market challenges, including accessibility and competition driven by telehealth innovations.
31:51
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Quick takeaways
- The hacking incident involving China's intelligence agency underscores the urgent need for enhanced cybersecurity measures across government institutions.
- As geopolitical tensions rise, gold is anticipated to surpass $3,000 per ounce, highlighting its role as a safe haven amidst economic uncertainty.
Deep dives
Concerns Over Treasury Market Dynamics
The U.S. Treasury market is facing significant challenges due to a decrease in the number of primary dealers and the rise of electronic trading. This decline raises concerns about the market's stability as the amount of outstanding U.S. debt is on the rise, potentially reaching $50 trillion within the next decade. The primary dealer system was created to ensure smooth operations in Treasury security transactions, but its efficacy is being undermined by regulatory changes and market consolidation. This shrinking dealer presence could lead to difficulties in managing auctions and maintaining market order during times of economic stress.
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