From Crow Wisdom Today most of the world’s trade is conducted in USD (U.S Dollars). This is the “defacto” global reserve currency for trading between most nations. Around the end of WW2 (World War 2) the “Bretton Woods” system was setup by a group of 44 nations in a conference held at Bretton Woods, New
From CNBC Faced with stiffening sanctions from Western countries over its invasion of Ukraine, Russia is considering accepting bitcoin as payment for its oil and gas exports. In a videotaped news conference held on Thursday, the chair of Russia’s Duma Committee on Energy said in translated remarks that when it comes to “friendly” countries such
From Zero Hedge Not one day seems to pass without the EU taking an aggressive step toward comprehensive self-destruction. Today, we learn that the "not-quite-yet-green" continent is doing everything it can to make investors in evil fossil fuels and commodity bulls even richer as after weeks of waffling, European officials are drafting plans for an
The move came alongside action by Germany, which earlier on Tuesday announced the shutdown of Hydra Market and seizure of $25 million in bitcoin, Russia. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russia-based Hydra Market, calling it the world's largest and most prominent darknet market. “The global threat of cybercrime and ransomware
From Zero Hedge There is a Narrative about Russia and how it will change the monetary system. Many analysts in the gold community are promoting this story. There’s just one problem with this Narrative. It is like how Michael Crichton described the Gell-Mann Amnesia Effect, stating that the newspaper is full of stories explaining how
From OFX The market rate, also known as the ‘interbank’ or ‘mid-market’ rate, is used primarily for consumers as a benchmark. It is essentially a ‘wholesale’ rate that is typically only available to large financial institutions, like banks, when they purchase large amounts of currency. That’s often not the rate that is then translated to
From Financial Xpress “It is often claimed that there is no clear alternative to the USD as the world’s global reserve currency, but instead of a single reserve currency the world could move to a broad set of alternative currencies,” Barclays said in a note. The sanctions imposed by Western countries such as the United
From Bloomberg.com Advocates see lower-cost transactions and greater access to the financial system, but critics worry about privacy. The world’s reserve currency may be about to go digital dollar, potentially transforming the way Americans move and use their money. On Wednesday, the White House directed federal agencies from the Treasury to the Commerce Department to
Authored by Bruce Wilds via the Advancing Time blog, ...Could the euro beat the Yen in the race to the graveyard? Before saying anything else, it is important to note, that when it comes to the major currency, it is safe to assume they are manipulated by the central bank. It is in the best
From CoinDesk When asked for proof, Michael Chobanian argued it is "obvious we don’t have proof since it is a closed box.” The European Union should “investigate” whether the Binance crypto exchange is "cooperating" with the Russian government to circumvent sanctions imposed after Russia's invasion of Ukraine, said Michael Chobanian, founder of Ukraine's Kuna exchange.
