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POSTED ON October 4, 2021  - POSTED IN Guest Commentaries

We’ve written extensively about the “war on cash.” In a nutshell, governments would love to do away with cash in order to better track and control their citizens. There have been numerous moves closer to a cashless society in recent years, from capping ATM withdrawals to doing away with large-denomination bills. Last year, China launched a digital yuan pilot program and the US has floated moving toward a digital dollar.

POSTED ON June 3, 2021  - POSTED IN Key Gold Headlines

Last year, China launched a digital yuan pilot program. The Chinese government-backed digital currency got a boost when the country’s biggest online retailer announced the first virtual platform to accept the Chinese digital currency. China isn’t the only government exploring the possibility of digital money. Sweden has developed a digital currency of its own. The European Central Bank is pushing for a digital euro. And Russian central bank governor Elvira Nabiullina recently told CNBC that digital currency is “the future of our financial system.”

So, how long before a digital dollar comes to the United States? Well, it’s already in the pipeline.

POSTED ON March 1, 2021  - POSTED IN Key Gold Headlines

China made a big splash when it rolled out its digital yuan and it got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency. But China isn’t alone in exploring the possibility of digital money. Sweden has developed a digital currency of its own and the European Central Bank is pushing for a digital euro.

We’re told digital currency should replace unwieldy physical cash. It will be more convenient and help governments stop criminals. But there is a more sinister motive behind this government pivot toward digital currency.

POSTED ON December 27, 2020  - POSTED IN Guest Commentaries

The People’s Bank of China was the first central bank to roll out a digital currency. The digital yuan recently got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency.

Digital currency is nothing more than a virtual banknote or coin that exists in a digital wallet on your smartphone instead of a billfold or a purse. Digital currencies issued by central banks are backed by the state, just like traditional fiat currency.

POSTED ON December 10, 2020  - POSTED IN Key Gold Headlines

Last summer, the Chinese government launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending.

Last week, the digital yuan got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency.

POSTED ON August 27, 2020  - POSTED IN Guest Commentaries

We’ve written extensively about the “war on cash.”  Government officials and academics offer all kinds of plausible rationals for moving toward a cashless society. Most of them involve consumer convenience and the ability to battle drug dealers and big-time criminal organizations. But make no mistake, governments love the idea of eliminating cash for more a more sinister reason — it would make it possible for them to track every single purchase you make. And it would also allow them to exercise a tremendous amount of control over individuals.

POSTED ON July 10, 2020  - POSTED IN Friday Gold Wrap

Gold surged passed another key level this week, breaking above $1,800 an ounce for the first time since 2011. And the yellow metal is pulling silver up along with it. What’s driving precious metals higher? And can we expect this bull run to continue? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at both the gold and silver markets – what’s driving them and where they might be heading next, and why this is different than 2011. He also touches on the escalating war on cash.

POSTED ON July 7, 2020  - POSTED IN Guest Commentaries

Last month we reported that the Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending.

China isn’t alone in using COVID-19 as an excuse to push people away from physical cash. Other countries are pushing narratives to drive the movement toward a completely digital economy – one where governments can track and even control what we buy.  The war on cash has been going on for years, but the pandemic has put efforts on hyperdrive.

POSTED ON June 5, 2020  - POSTED IN Friday Gold Wrap

The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up stock market bubble X.0 He also talks about a move China recently made that ups the ante in the “war on cash.”

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