Money>Fiat
Biden takes big step toward government-backed digital currency
The Biden administration is throwing its support behind further study and development of what would be known as a U.S. Central Bank Digital Currency. A U.S. digital currency could be on the horizon. The Biden administration is putting its support behind the research and development of a “U.S. Central Bank Digital Currency,” or CBDC. The move is part of…
Read MoreChina’s Digital Yuan Reported To Be Ultimate Financial Censorship Tool
In a new report released yesterday by the Center for a New American Security (CNAS), evidence of a 2018 PowerPoint presentation in China indicates what many may already have suspected – central bank digital currency is being designed to allow for surveillance of all financial transactions throughout its society. “By eliminating some of the previous…
Read MoreChina Passes U.S as Wealthiest Nation in the World
According to a new report from McKinsey & Co, global wealth has skyrocketed over the last twenty years — soaring from $156 trillion in the year 2000 to $514 trillion in 2020. “We are now wealthier than we have ever been,” said Jan Mischke, a partner at the McKinsey Global Institute in Zurich. While the United…
Read MoreThe dollar will collapse under a ballooning US deficit and deglobalization, former Morgan Stanley Asia chairman says
Summary: The US dollar will almost certainly crash under the weight of unprecedented government debt and a reversal of decades-long globalization trends, Stephen Roach, former chairman at Morgan Stanley Asia, said Monday. The currency initially soared as investors piled into safe-haven assets at the start of the coronavirus pandemic. Yet the dollar has fallen under new pressures…
Read MoreThe US will need to spend trillions more as economy takes until 2022 to fully recover: CNBC survey
A third of respondents in the CNBC Fed survey believe the economy won’t be fully restored until the second quarter of 2022, but there are a wide range of views about the recovery. More money will be needed from the Federal Reserve and Congress to combat the pandemic slowdown. GDP will decline by 24% this…
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