Is a Central Bank Digital Currency (CBDC) a good idea for the USA?
Total Voters: 34
Loading ...I don’t know but we had a nice reversal in the USD so it’s good to see pm’s responding positively. Would love to see the new floor at $1300.
That block chain news is interesting. I trust it even less if the banks are involved.
Something’s coming….only a couple more months….or less… 🙂
ZURICH (Reuters) – Six new banks have joined a UBS-led (UBSG.S) effort to create a digital cash system that would allow financial markets to make payments and settle transactions quickly via blockchain technology.
The group aims to launch the system late next year.
Barclays (BARC.L), Credit Suisse (CSGN.S), Canadian Imperial Bank of Commerce (CM.TO), HSBC (HSBA.L), MUFG (8306.T) and State Street (STT.N) have joined the group developing the “utility settlement coin” (USC), a digital cash equivalent of each of the major currencies backed by central banks, UBS said on Thursday.
The group is in discussions with central banks and regulators and is aiming for a “limited ’go live’” in the latter part of 2018, UBS’s head of strategic investment and fintech innovation told the Financial Times.
more http://www.reuters.com/article/us-blockchain-banks-idUSKCN1BB0UA
Dare we hope? Gold looking good so far. $1300 now support? 🙂
Romania wants former mining city of Rosia Montana to be pulled from UNESCO list
Romanian Prime Minister Mihai Tudose plans to ask UNESCO to revoke the status of World Heritage site for the former mining town of Rosia Montana, as the nomination means important gold reserves can no longer be exploited.
The application, submitted to UNESCO by the former government, was the last nail in the coffin for Canadian Gabriel Resources’ (TSX:GBU) namesake project, which faced relentless local opposition and several attempts to block the proposed mine by the government.
In 2014, parliament yielded to pressure from environmentalists, worried about the potential use of cyanide to mine about 314 tonnes of gold and 1,500 tonnes of silver, and halted the project.
By then, the Toronto-based miner filed had spent 15 years and about and $700 million trying to build its $2bn Rosia Montana mine, so it filed a request for international arbitration. The idea was to seek compensation from Bucharest for the many delays to the company’s flagship project.
Currently, Gabriel is requesting Romania to pay $4.4 billion in damages for losses related to its long-stalled project.
Early strength in the USD has faded pretty quickly. Shares – especially the juniors are pretty strong.
Hopefully it holds up. Dreaded jobs report tomorrow.
California initiative would legalize psychedelic mushrooms
California would become the first state in the nation to legalize psychedelic mushrooms if a long-shot ballot initiative passes muster with voters next year.
The measure is backed by a legalization activist who says he kicked his heroin habit with the help of a mushroom trip in Death Valley. It would exempt Californians over the age of 21 from a state law that criminalizes mushrooms containing psilocybin, the compound that gives some mushrooms psychedelic properties.
“There is a cultural fascination with mushrooms that goes really deep,” said Kevin Saunders, the activist behind the initiative. “The soccer moms are all pretty much, for lack of a better term, high now, and some of them are taking mushrooms.”
Nonetheless, I’m not sure the long-awaited move above $1300 will lead anywhere but back below $1300. I guess at least with the USD rally of the last couple days we haven’t been smashed too hard.
