Get the latest headlines, market analysis, and original content from SchiffGold.
As economic sanctions began to put a stranglehold on the Russian economy, long lines formed at banks and ATMs as everyday people tried to pull cash from their bank accounts. A Russian economy expert from the Foreign Policy Research Institute called it “a full-fledged bank run.”
What would you do if you went to the ATM and found that you couldn’t access the money in your bank account? Many Canadians recently suffered this unsettling experience. Customers of five major Canadian banks reported mysterious online banking outages last week after Canadian Prime Minister Justin Trudeau announced he was invoking emergency powers in […]
Last week, the Federal Reserve released a “discussion paper” examing the pros and cons of a potential US central bank digital dollar. According to the Federal Reserve press release, the central bank hopes to get public feedback on the idea. “We look forward to engaging with the public, elected representatives, and a broad range of […]
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 […]
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 […]
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 […]
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 […]
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 […]
There has been a lot of talk lately about central banks implementing their own digital currencies. Why?
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 […]
