The most dangerous words in monetary policy and economics are “this time is different.” The big mistake of politicians in Argentina is to believe that inflation is multicausal and that everything is solved with increasing doses of interventionism.
Based on estimates, the BOE's yearly loss may surpass £20 billion as early as next year. Furthermore, the UK treasury is set to bail-out the Bank Of England's £11 billion QE losses.
UMU, the Central Bank Digital Currency, has been launched. Although the IMF has not officially endorsed UMU, George Walker, a partner at Practus, LLP, noted that the organization had not raised objections to its foreign exchange premium rates or its monetary sovereignty approach.
In the near future, central banks will need to introduce some sort of alternative system in order to preserve economic authority as many conventional currencies begin to lose public confidence due to inflation. Towards this end, the BIS is set to allow member banks to hold 1% of their reserves in Bitcoin.
The Bank of England has started consultations on trying to implement a Central Bank Digital Currency (CBDC), which could lead the way in the globalist vision of a cashless economy where all transactions are easily detectable by the government, according to an announcement made this week by the de facto head of His Majesty's Treasury. This implies that the UK is set to launch the digital pound central bank digital currency.
The Central Bank of Zimbabwe stated on Monday that it would soon begin issuing gold coins in an effort to reduce inflation, which hit 191 percent in June. The Harare government thinks that this will decrease demand for US dollars and at the very least slow down the further depreciation of the local currency.
In a tweet, a 116-year-old Mumbai bank called SVC Bank, which was in trouble after SVB's collapse clarified that it had no relation to SVB.
On July 10, 2022, more than a thousand depositors had gathered in front of the nation's central bank's Zhengzhou branch to commence their biggest-ever protest. In response, China deployed tanks to prevent people from withdrawing money from crisis-hit banks.
While Silicon Valley Bank execs may have failed to hedge against interest rate risk, they did signal $73.45 million in virtue donating to Black Lives Matter and related entities, according to a database maintained by the Claremont Institute which lists nearly $83 billion in donations to the Marxist organization.
After the Chinese digital Yuan prototype garnered attention, the number of countries where central banks have issued digital currencies has increased.