*VIETNAM STATE BANK SAYS READY TO INTERVENE IN FX MARKET ... the dong is about to soar
Vietnam Central Bank Sells Dollars in Market as Dong Falls... Vietnam’s central bank said it sold dollars to some banks, intervening in the foreign exchange market as the currency fell to a record low. The “intervening price” was 25,450 dong per dollar, State Bank of Vietnam said in a statement released after an official said intervention was possible today. The dong dropped to a record-low 25,463 per dollar on the day.
Zimbabwe’s new gold-backed digital currency: All you need to know... Harare, Zimbabwe – On Monday, Zimbabwe released a gold-backed digital currency for peer-to-peer and peer-to-business transactions as well as to act as a store of value as the country’s currency continues to lose ground against major currencies. “Holders of physical gold coins, at their discretion, will be able to exchange or convert, through the banking system… into gold-backed digital tokens,” the Reserve Bank of Zimbabwe said in a statement inviting individual and corporate entities to use the digital currency that can be bought either in Zimbabwean dollars or foreign currency.
Will U.S. Trade Cash for CBDCs? Fed Sends Mixed Messages... Despite recent statements to the contrary by Federal Reserve Chair Jerome Powell, the U.S. Federal Reserve appears to be proceeding with the development of central bank digital currency (CBDC) infrastructure. Critics weigh in on Powell’s statements and what CBDCs — and going cashless — would mean for U.S. citizens.
Woman Sues National Park Service After Being Told She Can’t Use Cash to Pay Entry Fee... In a lawsuit filed in the U.S. District Court for the District of Columbia, Elizabeth Dasburg and two other plaintiffs allege the National Park Service is violating U.S. law by refusing to accept U.S. currency. Children’s Health Defense is financially backing the lawsuit.
Bank of Japan Mulls Ending Yield Control to Focus on JGB Buying Size: Jiji... The Bank of Japan is considering scrapping its yield curve control program and instead indicating in advance the amount of government bonds it plans to purchase, Jiji Press reported, without saying where it got the information. It will stop its program to guide benchmark 10-year government bond yields to around 0%, as part of its efforts to normalize monetary policy, according to Jiji. The bank will decide on that and ending negative interest rates as soon as the next policy meeting concluding on March 19, the report said.
Bitcoin’s black swan event: How the return of Satoshi could pose a $75 billion threat... Bitcoin is back on top. This week, the original cryptocurrency cracked its all-time high, fueled by new ETFs backed by BlackRock and others that have elevated its status as a mainstream investment. That doesn’t mean, of course, that Bitcoin is totally safe. Aside from its historic volatility, Bitcoin is exposed to a few unique risks that are highly unlikely but potentially devastating should they materialize. The biggest of these is the return of its pseudonymous creator, Satoshi Nakamoto, who controls a vast hoard of Bitcoins from the currency’s earliest days, and who could shock the market in unprecedented ways. It is widely assumed Satoshi will never return, but recent events—including a mysterious $1.2 million deposit to one of their wallets and an ongoing U.K. trial focused on their identity—are a reminder that unlikely does not mean impossible. Here’s a closer look at the odds Bitcoin’s creator could come back—and what it would mean if they did. Satoshi Nakamoto first flirted with fame with the publication of a white paper laying out the case for Bitcoin in 2008. After that, he or she or they was active in early online Bitcoin forums, and regularly emailed other developers until 2011 before going dark. Satoshi briefly surfaced one final time in 2014 to refute a news story that professed to discover their identity, but it’s been crickets ever since. In disappearing from the scene, Satoshi also left untouched a large trove of Bitcoin wallets. These were amassed during a time when Bitcoin traded for less than $1 and when each new piece added to the blockchain yielded 50 coins (versus the three it will yield beginning next month). The transparent nature of the blockchain makes it possible to make a very good guess as to which wallets Satoshi controlled. “We estimate Satoshi’s funds total 1.124 million Bitcoin across about 36,000 wallets. That total has not changed over time,” the forensics firm Chainalysis told Fortune.
Russia’s Putin signs law on use of digital assets in intl. payments... An earlier version of the legislation addressed modernization of financial platforms in Russia. The document was amended during a second parliamentary reading to allow the use of digital financial assets as a means of payment in foreign trade transactions. The move challenges the West’s dominance on the global financial superstructures and is seen as a step towards developing alternatives to the US dollar in international trade.
Feds Colluded With Big Banks to Spy on Americans’ Financial Transactions... The federal government conducted “broad,” “unjustified” surveillance of the private financial transactions of millions of Americans in the wake of events that took place on Jan. 6, 2021, at the U.S. Capitol, according to a report issued Wednesday by the U.S. House of Representatives Select Subcommittee on the Weaponization of the Federal Government.
Global banks participate in large-scale blockchain pilot test ... Major financial institutions, including Goldman Sachs, BNY Mellon and Cboe Global Markets, have completed a large-scale pilot test using blockchain technology. According to a March 12 Bloomberg report, institutional investors executed over 350 simulated transactions via distributed ledger technology in areas such as tokenized assets, fund registry, digital cash, repo, securities lending and margin management on the Canton network, which was launched in May 2023 by startup Digital Asset Holdings. The pilot test included 15 asset managers, 13 banks, four custodians, three exchanges and the stablecoin issuer Paxos Trust.
WOW! 💥 #Ripple partner ACI Worldwide which supports 9 percent of global SWIFT traffic has confirmed that the new Instant Payments Regulation will come into effect on 8 April 2024! ... 8 April ’24 we will also see a solar eclipse 🌑 Coincidence? I don’t believe in it anymore
How blockchain smart contracts can change the world of financial transactions, real estate, and more... Smart contracts allow 2 parties to create binding contracts without a third party. Supporters believe this technology may revolutionize many industries, including legal, real estate, and financial services. Skeptics argue that smart contracts don't effectively remove the need for lawyers and other third parties.
IRS sues FDIC over Silicon Valley Bank's $1.4 billion tax debt... (Reuters) - The U.S. Internal Revenue Service on Tuesday sued the Federal Deposit Insurance Corporation, asking a judge to determine how much the FDIC must pay to cover an estimated $1.45 billion tax debt owed by the failed Silicon Valley Bank. The FDIC, which seized SVB and its assets in March 2023, has denied the entire tax claim, according to a complaint filed in federal court in Washington. The IRS said the court should overrule the FDIC's decision to deny the tax claim, and make a new determination on the validity and amount of taxes owed.
Following this, the United States operated without a central bank for 77 years. President Lincoln issued interest-free Treasury "greenback" dollar bills in 1862 to fund military expenditures during the Civil War, rejecting high-interest loans from private bankers.... Lincoln's defiance of bankers like Lionel Rothschild and his uncle James is believed to have led to his assassination by John Wilkes Booth on April 15, 1865, at the behest of a local Rothschild agent named Rothberg. The assassination of Abraham Lincoln occurred during President John Tyler's term of office (1841-1845), amidst attempts by Congress, led by Henry Clay, a Freemason and former Speaker of the House, to renew the charter of the Bank of the United States. Tyler vetoed these bills, leading to numerous threats of assassination.
Inside Turkish Central Banker Downfall That Was Months in Making... Turkish central bankers long played to an audience of one. When it came to Hafize Gaye Erkan, President Recep Tayyip Erdogan’s trust hardly wavered until the very end. But by then, what proved her undoing was that she’d lost the confidence of other heavyweights like Finance Minister Mehmet Simsek who were on a mission to give the nearly $1.1 trillion economy a facelift.
Bank of America Suffers Massive Data Breach, Exposing Sensitive Data to Hackers... Bank of America Suffers Massive Data Breach, Exposing Social Security Numbers, Addresses and Additional Sensitive Data To Hackers Tens of thousands of Bank of America customers are now at risk of being targeted for identity fraud after a massive security failure exposed their critical personal information. A data breach notification filed in Maine says 57,028 customers at Bank of America were exposed due to a failure at Infosys McCamish Systems (IMS), an insurance business process solutions provider that the bank was using.
VIDEO How The Federal Reserve Bank Works…... Bottomline We Are All Salves. 🔺
