Looking for "Currency"

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carlp • Aug 10, 2023, 3:33 pm EDT

President of Eritrea Calls for New Financial Architecture Beyond the Dollar and Euro

In a recent meeting during the second Russia-Africa Summit in Saint Petersburg, Eritrean President Isaias Afwerki expressed his concern about the established global financial system, emphasizing its weaponization by Western nations. President Afwerki, in an address to Russian President Vladimir Putin, underscored the need for a new global financial system, separate from the stronghold of dominant currencies such as the dollar and the euro. The Eritrean leader candidly remarked on the tactics of Western nations: “They are printing money. They are not manufacturing anything at all; it’s all about printing money.” President Afwerki His remarks touched upon a broader issue:

2 minutes

arusso • Aug 8, 2023, 10:46 am EDT

The Integration of CBDCs and Stablecoins Continues On: Japanese Startup Leads in Asian

Cash money, in its traditional paper form, is gradually becoming an artifact of the past. Leading the charge in Asia into the digital frontier is Soramitsu, a Japanese blockchain startup, is moving into the growing ecosystem of central bank digital currencies (CBDCs) and fiat-pegged stablecoins. Their latest endeavor aims to bridge the major economies of Asia, using Cambodia’s groundbreaking CBDC as the cornerstone. Pioneering an Asian Payment Network The project creates an ambitious goal: to knit together Japan, India, China, and Southeast Asia into a cohesive digital payment network. To achieve this, Soramitsu will harness the power of Cambodia’s CBDC

3 minutes

satoshin • Jul 21, 2023, 11:42 am EDT

Rising Net Interest Payments: Is the U.S. Economic Stability at Risk?

Is the ticking time bomb of rising net interest payments endangering U.S. economic stability? Explore the potential risks and delve into the intricate web of financial consequences as interest burdens grow, shedding light on the challenges that lie ahead for the nation’s fiscal health.

3 minutes

johnd • Jul 20, 2023, 4:13 pm EDT

Embracing FedNow: Unveiling the Centrally Controlled Instant Payment Infrastructure, a New Era Beyond CBDCs

Discover FedNow: A closer look at the centrally controlled instant payment infrastructure poised to transform transactions. Explore its implications beyond CBDCs, as real-time payments redefine the landscape of digital finance.

6 minutes

carlp • Jul 20, 2023, 11:01 am EDT

A Harrowing Credit Tale: American Credit Scores Plunge Amid Mounting Debt

In recent years, tens of millions of American consumers have witnessed a significant boost in their credit scores. Thanks to government stimulus checks, low interest rates, and a pause on student loan repayments, an economic reprieve seemed to be in sight. However, that all seems to be unravelling as the nation confronts the abrupt plunge of credit scores.

4 minutes

johnd • Jul 17, 2023, 3:52 pm EDT

A Historical Precedent for BRICs New Gold Backed Currency

After months of deliberation regarding multiple potential commodity and currency baskets, it appears a consortium led by China and Russia has finally settled on using gold as the foundation for a new international currency system. This system is poised to operate independently from the euro and the U.S. dollar, a remarkable shift in the global economic landscape. State-funded Russia Today recently hinted that the introduction of this initiative could be on the docket at an upcoming meeting of leaders from Brazil, Russia, India, and China this August. Such a development seems to echo the past, specifically the historic Bretton Woods

4 minutes

arusso • Jul 17, 2023, 12:48 pm EDT

Russia and Southeast Asian Nations Eye De-dollarization in Trade Settlements

In a paradigm-shifting move, Russia is discussing the use of national currencies in trade settlements with 10 Southeast Asian nations, as revealed by Russian Foreign Minister Sergey Lavrov. These nations are members of the Association of Southeast Asian Nations (ASEAN), comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The discussions come amidst a global push to “de-dollarize” economies and reduce dependence on the US dollar, particularly among nations looking to assert greater autonomy in the global financial landscape. The shift aligns with Russia’s goal of promoting a multipolar world order, a stance the country maintains despite

3 minutes

carlp • Jul 12, 2023, 9:43 am EDT

Russia Set to Launch ‘Digital Rouble’ on August 1, 2023

After years of speculation and development, Russia is set to launch a digital version of its national currency, the rouble, in just a few weeks on August 1, 2023. As reported by the Interfax news agency and the Russian government, the country will begin testing the ‘Digital Rouble’ with consumers starting in August, after receiving the green light from the Russian Duma, the lower house of parliament. The move forms part of a broader global trend, with central banks worldwide exploring the possibilities of implementing Central Bank Digital Currencies (CBDCs). However, Russia, pending President Putin’s approval of the legislative proposition,

3 minutes

satoshin • Jul 11, 2023, 1:39 pm EDT

How An Economy Grows and Why It Doesn’t: Timeless Economic Lessons For Everyone

The American economic landscape is filled with complex theories and intricate practices. However, understanding these concepts doesn’t always require an economics degree. Sometimes, the simplest stories can capture the essence of complex economic ideas. Such is the case with Irwin Schiff’s classic educational comic from the 1980s, “How an Economy Grows and Why It Doesn’t.”

4 minutes

johnd • Jul 11, 2023, 11:25 am EDT

The Bank of England’s Digital Pound and Its Implications

The Bank of England’s prospective digital pound, dubbed “Britcoin” by Prime Minister Rishi Sunak, heralds a transformative shift in the financial ecosystem, increasing government control over financial transactions. This is according to Susie Violet Ward, a financial analyst, who expressed her concerns on NTD’s “British Thought Leaders” programme. An unprecedented 130 nations are exploring central bank digital currencies (CBDCs), as the Atlantic Council reports, and the BoE is at the forefront of the movement. Still in the deliberation phase, the Bank and the Treasury are examining public opinions about the implementation of Britcoin. If Britcoin becomes a reality, it could

3 minutes