As Citizens Suffer Central Banks Flush Trading Houses With Trillions, Ease Co...
Central banks across the world have been increasing stimulus and letting inflation run high in order to combat the disastrous economic effects of the coronavirus outbreak response. The Bank of Japan has recently become the country’s largest stockholder and the European Central Bank is prepared to expand its colossal stimulus program. Meanwhile, Federal Reserve Chair Jerome Powell is calling on Congress to act fast on America’s stimulus program proposal as “the risk of overdoing it is less than the risk of underdoing it.” Bank of Japan’s $434 Billion Treasure....
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According to the International Consortium of Investigative Journalists (ICIJ), five major global banks have been exposed funneling trillions of dollars in criminal funds in the recently leaked FinCEN Files. The massive leak is 2,100 documents spanning from 2000 to 2017 which shows fraudulent funds flowed almost effortlessly through JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York Mellon. The world’s regulators are supposed to be regulating the ‘tainted’ dollars that flow through the financial system and the United States has a number of....
What will it look like when central banks are on the blockchain? ACI is hard at work modeling an answer to this question. The international payments firm already enables more than 5,000 credit unions, processors and banks to transact $14tn daily through its suite of software-as-a-service tools, and now it's seeking to uncover how blockchain could play a role in its delivery. Constructed on a five-node network that runs on servers in Omaha, Nebraska, and Norcross, Georgia, ACI has built a blockchain proof-of-concept specifically designed to simulate how a central bank and four financial....
The Argentinean Central Bank has joined the ranks of other central banks across the globe to issue a warning on cryptocurrencies. The official statement reads: While this may seem like an echo of warnings released by other central banks, this particular statement can be interpreted from various angles. First, the mention of cryptocurrencies not having “legal tender” status may be a caveat for not only citizens but financial institutions in the country to refrain from using these currencies. On the other side, the Central Bank is promising to study these “virtual coins” and potentially....
A few central banks have started selling tons of gold for the first time since 2010 in order to ease the financial suffering from the Covid-19 pandemic. At $1,875 per ounce, gold prices are down -9.63% since the commodity’s high of $2,075 on August 6. Even though gold has dropped significantly in value in contrast to bitcoin (BTC), gold bug Peter Schiff decided to use the opportunity to rag on bitcoin on Twitter. “If you measure the size of asset bubbles based on the level of conviction buyers have in their trade, the Bitcoin bubble is the biggest I’ve seen,” Schiff....
The troubles in Afghanistan rage on after the U.S. government spent 20 years and trillions of dollars on a conflict that was never resolved. The U.S. government, Federal Reserve, and allied partners have seized the central bank of Afghanistan’s assets and as time passes, the country’s citizens have run out of money. Regional reports show that “no one has money” after the U.S. seizure and under the current Taliban rule. Afghani Citizens Can’t Afford Daily Expenses as Money Runs Dry Years ago U.S. president George W. Bush initiated a war and occupation in....