After 2021, The Fed’s “Price Stability” Mandate No Longer Applies
Bitcoin is the answer to what was actually a deceptive claim of price stability, as no such thing exists in a fiat monetary system."But he hasn’t got anything on," a little child said. – Hans Christian Andersen, The Emperor’s New ClothesThe 21st year of the 21st century was the moment when central bankers’ masks came off and the ugly truth was revealed: there is no master plan, no expert guidance behind the fiat monetary policy. The only ambition is to kick the can down the road for at least a couple of more years.Monetary policy of perpetual inflation acts as an inadvertent marketing....
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Bulls lift the market higher on the back of a stocks resurgence, but the specter of the Fed is on the horizon. Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView.Fed may spark fresh volatilityData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s correlation to equities remained in focus ahead of a fresh Wall Street open and key information....
Cryptograffiti, one of Bitcoin’s most prolific artists discussed, his latest billboard project “Bitcoin Vs. The Fed.” The post Interview: Cryptograffiti On “Bitcoin Vs. The Fed” appeared first on Bitcoin Magazine.
A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to Banks The remarks by Lamtek, who spoke on behalf of the CBN governor Godwin Emefiele, follow the central bank’s February 5, 2021, directive which prohibited banks from facilitating crypto-related....
Japan is getting more serious about the digital yen. Japan needs to adapt its laws to issue a central bank digital currency, according to a local financial official.Kozo Yamamoto, head of the Liberal Democratic Party’s council on financial affairs and a former official at the Ministry of Finance, believes that Japan must revise a law stipulating the Bank of Japan’s (BoJ) mandate and responsibilities regarding the development of a CBDC.According to an Oct. 12 Reuters report, Yamamoto said that potential amendments to the BoJ law would be a good opportunity to consider other changes like....