Bitcoin is Better Option than Helicopter Money for Australia
That being said, a loan from a central bank - permanent or not - is still a debt with an interest cost. Even though the consumer would not be responsible for paying back the money, the government budget would be affected. A transparent solution to the economic status of Australia is needed, and the time has come to start considering alternative options. The financial system we know and use today is not broken, according to financial experts and governments. At the same time, central banks are wielding so much power, and governments are next to powerless when a decision needs to be made. To....
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Quantitative Easing (QE) has so far not produced the runaway inflation some predicted. But before you start feeling comfortable about fiat currency again, central planners have another trick in store, i.e. “helicopter money,” a term that’s back in vogue thanks to a country that has tried almost everything to stimulate its economy: Japan. A more extreme....
For the longest period, central banks and the Federal Reserve held all of the power in the financial world. Although very little has changed then, there are concerns regarding the “magical power” associated with these institutions. Moreover, it seems implausible central banks will aid in recovering after the financial crisis. When looking for ways to....
Australia chooses not to treat bitcoin as currency. Australia's Tax Office has spoken, and it has declared that it will not treat Bitcoin as money or as foreign currency. It has instead opted to treat Bitcoin transactions as barter transactions, in a move that would have far reaching implications on Bitcoin use down under. Australia's Approach to Definition of a Currency. Definition of a currency or money in Australia falls under the Currency Act. To summarize, the Australian Currency Act permits transactions relating to money in Australia only to be undertaken using Australian currency or....
UK banking group HSBC has outlined how it believes the blockchain could be used to facilitate or enhance unconventional central bank policies. Business Insider reports that, according to a draft document it obtained, HSBS is discussing the idea that central banks could push for blockchain-based digital currency systems in order to capitalize on transaction transparency and create a clearer picture of a country's financial system. That information could then be used to conduct so-called "helicopter drops" - targeted cash injections into the real economy via consumer bank account deposits or....
Since the cryptocurrency grew in the last few years, it also has become the favorite place for fraudsters and cybercriminals to loot money. Per the latest estimates, Australia records significant losses indicating crypto scams are on the rise in the state. According to the stats viewed by the Australian Competition and Consumer Commission (ACCC), Australia […]