Category: Central Banks

Market Outlook: Gold and Crypto Reap the Benefits of Economic Fear

Market Outlook: Despite Price Dip, Gold and Cryptos Reap the Benefits of Economic FearCryptocurrencies have recovered from losses incurred a week ago, with many digital assets up 50-80% since July 2. For instance, eight days ago bitcoin core (BTC) tumbled to $9,650 and then back to a high of $13,150 yesterday evening. However, during the afternoon trading sessions on Wednesday, most of the top 20 cryptocurrencies have seen […]

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Money and Democracy: Why You Never Get to Vote on the Most Important Part of Society

It’s very odd that citizens never get to vote or have any say in regard to society’s money, even though it’s one of the most important aspects of everyday life. In fact, in developed countries, most central banks are institutions that are privatized from political interference and history explains why. Also Read: IRS Agents Propose […]

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G20 Starts Crypto Discussions – A Look at Global Standards

G20 Starts Crypto Discussions - A Look at Global StandardsFinance ministers and central bank governors from the G20 countries have gathered this weekend for a two-day meeting ahead of the G20 summit, and cryptocurrency is among the topics of discussion. Global standard-setting bodies have submitted their policies and provided tools to help the member countries with the regulation of crypto assets in their own […]

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Yellow Vest Movement Starts a New Form of Protest – Burning Banknotes

Yellow Vest Movement Starts a New Form of Protest — Burning BanknotesFor well over two months, the yellow vest movement in France has continued to keep itself illuminated with fervent protests against taxes, the banking system, and the region’s bureaucrats. On Feb. 1, a group of Gilets Jaunes working at the bill printing factory explained their plan to show the world they mean business by burning […]

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Tidbits: Jesse Powell Criticizes Custodial Ownership, Simon Dixon Slams the Banking System

Jesse Powell Explains Gold Ownership, Simon Dixon Criticizes Banking SystemTidbits is a roundup of talking points from across the cryptosphere. Today, Jesse Powell and Samson Mow both voice their opinions on the custodial ownership of assets through trusted, third parties. Paul Sztorc shows the Bitcoin community that forks are not as frequent as they think and Simon Dixon breaks down his three problems with the […]

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Just Because Cryptocurrency Isn’t ‘Legal Tender’ Doesn’t Make It Illegal

Cryptocurrency Not 'Legal Tender', but Not Illegal EitherCentral bank warnings about crypto assets may give the impression that cryptocurrency is illegal, especially since these entities often cite reasons as to why they’re uncomfortable with virtual currencies encroaching on their turf. But their assertions are often inaccurate, particularly when it comes to determining the legality of cryptocurrency. Also read: Jamaica Stock Exchange Plans to […]

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Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold

Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over GoldAt the Israel Bitcoin Summit at Tel Aviv University on Jan. 8, veteran cryptographer Nick Szabo explained that the use of censorship-resistant cryptocurrencies will rise in countries sanctioned from trade and economies suffering from failed monetary planning. Szabo also argued that the world’s central banks might turn to cryptocurrency reserves in the future in order […]

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Report Claims Central Banks Are Cautious About Issuing Their Own Digital Currencies

Report: World Central Banks Proceed Cautiously on Issuing Own Digital CurrenciesThe Bank of International Settlements (BIS) has published a survey showing that most central central banks are “proceeding cautiously” on issuing their own digital currencies. Only a handful are planning to do so in the near future, it said. Also read: Coinflex Exchange to Offer Leveraged BCH and BTC Futures 70 Percent of Central Banks Working […]

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Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization

Embracing Utility in 2019 — Unreliable Crypto-Networks Will Lose to HyperbitcoinizationCryptocurrencies started gaining significant mainstream attention in 2017 and speculation brought coin values to unseen levels, before quickly deflating. Now, after a decade, it seems this technology is entering a new era that can actually move past speculation to embrace real-world utility. The only way this feat will be accomplished, however, is by offering a […]

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IMF: Central Banks Could Issue Digital Currency

IMF: Central Banks Could Issue Digital CurrencyChristine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention. Also […]

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Wendy McElroy: In a Stateless Society Crypto is Law and Justice

In a Stateless Society Crypto is Law and JusticeThe Satoshi Revolution: A Revolution of Rising Expectations Section 5: Saving the World Through Anarchism Chapter 11, Part 5 In a Stateless Society, Crypto is Law and Justice The economic analysis of crime starts with one simple assumption: Criminals are rational. A mugger is a mugger…because that profession makes him better off, by his own […]

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Steve Hanke: Central Banks Fuel Wealth Loss and Inflation – The World Needs Less of Them

Central Banks Fuel Wealth Loss, Inflation - The World Needs Less Of Them: HankeRespected economist Professor Steve Hanke has chanted down central banks. While Hanke doesn’t tout cryptocurrency as an alternative, he does say that the world needs fewer central banks because these government-controlled entities are messing up economies and abusing monetary policy, while fueling inflation and loss of wealth. Also read: Ex-Liberia Central Bank Chief Under Probe For […]

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Wendy McElroy: Crypto Is a Revolution of Hope – Which Is Why It Succeeds

Crypto Is a Revolution of Hope - Which Is Why It SucceedsThe Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 10, Part 3 Crypto Is a Revolution of Hope, Which Is Why It Succeeds The abolition of the market means not only that the consumers—that is all members of society—are robbed of virtually all choice of consumption and all influence over […]

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Wendy McElroy: The Crypto Revolution Will Not Be Centralized

The Crypto Revolution Will Not Be CentralizedThe Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 10, Part 2 The Crypto Revolution Will Not Be Centralized You say you want a revolution. Well, you know, We all want to change the world. You tell me that it’s evolution. Well, you know, We all want to change the […]

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G20 Watchdog Unveils Framework to Monitor Crypto

G20 Watchdog Unveils Framework to Monitor CryptoA framework has been developed for the G20 countries to “monitor the financial stability implications of crypto-assets markets.” The Financial Stability Board says cryptocurrencies “do not pose a material risk to global financial stability” but supports their “vigilant monitoring.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space G20’s Crypto Monitoring Framework The Financial Stability […]

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BIS GM Argues New Cryptos Are “the Alchemy of the Age of Innovation”

BIS GM Argues New Cryptos are "the Alchemy of the Age of Innovation"The Bank of International Settlements (BIS), a transnational institution owned by and comprised of central banks that seeks to “fosters international monetary and financial cooperation and serves as a bank for central banks,” recently published its quarterly review of “International banking and financial market developments” for June 2018. The report includes an op-ed written by […]

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IMF Says Bitcoin Could Create Less Demand for Regular Debt-based Fiat Money

IMF Says Bitcoin Could Create Less Demand for FiatThis month the International Monetary Fund (IMF) released a report on global monetary policy in the digital age which explains that “crypto assets may one day reduce demand for central bank money.” The IMF study was written after an IMF staff discussion that details that cryptocurrencies could someday lower the demand for fiat currencies by […]

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Wendy McElroy: The Centralization of Crypto and the Banality of Evil

The Centralization of Crypto and the Banality of EvilThe Satoshi Revolution: A Revolution of Rising Expectations Section 3: Decentralization Chapter 8, Part 3 The Centralization of Crypto and the Banality of Evil First we must realize that all actions are performed by individuals… If we scrutinize the meaning of the various actions performed by individuals we must necessarily learn everything about the actions […]

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SA Central Bank Comes Up With Another Nickname for Cryptos – “Cyber Tokens”

SA Central Bank Comes Up With Another Nickname for Cryptos – “Cyber Tokens”Cryptocurrencies don’t meet the requirements of money, according to the South African Reserve Bank which has decided to call them by a different name. It’s one that does not imply either currency or cryptography. “We prefer to use the word ‘cyber-token’,” said a high-ranking official of the central bank in Pretoria, adding another entry into […]

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