Financial Markets and Money Warfare... The digital dollar test is now! Banks are failing... When will the world start refusing the US Dollar?
Jay Powell stamps out hopes of early rate cuts in hawkish speech... Jay Powell tried to dampen investor expectations the Federal Reserve will cut interest rates any time soon in a hawkish speech that signalled the US central bank has a long way to go in its fight against inflation.
Federal Reserve Chair Jerome Powell: The economic outlook and the labor market... Federal Reserve Chair Jerome Powell will speak at the Hutchins Center on Fiscal and Monetary Policy on the outlook for the economy and the changing labor market. Following his remarks, Powell will be interviewed by David Wessel, director of the Hutchins Center, and will take questions from the audience.
RBI, UAE central bank discuss mechanism to trade in local currencies... The central banks of India and the United Arab Emirates (UAE) are discussing the creation of a mechanism to engage in bilateral trade in local currencies, in order to reduce transaction costs for exporters and importers, India’s ambassador to UAE, Sunjay Sudhir, said on Friday.
RUSSIA TO LAY DOWN A LEGAL FRAMEWORK FOR NATIONAL CRYPTO EXCHANGE... Russian lawmakers aim to launch a national crypto exchange, supported by the country’s Ministry of Finance and the Central Bank of Russia, according to a local media report. Members of the lower chamber of the Russian parliament – the Duma – have been drafting amendments to the country’s cryptocurrency legislation, which will establish the groundwork for a national crypto exchange, a source close to the matter told local media outlet Vedomosti.
Jeffrey Epstein Victims Sue Banks, Allege They ‘Benefited’ From His Crimes... Two major banks are being sued by victims of the late financier, and convicted sex trafficker, Jeffrey Epstein, accusing them of benefitting from his crimes.
Barclays to Handover Tainted £54 Million to UK Crime Agency... Barclays Plc’s UK unit must hand over about $54 million it suspects has links to crime or money laundering to the National Crime Agency, a London court ruled.
UAE and Saudi Arabia joining in BRICS will be game changing... The Russia-Ukraine conflict accelerated a global trend aimed at creating an economic and financial universe parallel to the existing system. We have in the past highlighted the possibility of the GCC countries joining the BRICS grouping of Brazil, Russia, India, China and South Africa, whose population together constitute 41 per cent of the world.
Bank of America To Partner With Ripple for ODL Services After XRP Lawsuit Finishes: Report... Bank of America is reportedly waiting for the end of the U.S. Securities and Exchange Commission (SEC) court case against Ripple to join forces with the San Francisco-based payments company.
Ghana in Talks With Dubai Oil Refiner to Barter Gold for Fuel... Ghana is in talks with Emirates National Oil Co. for a barter arrangement that will enable the West African nation to buy fuel with gold.
Russia intends to launch a ‘national crypto exchange’... Russian lawmakers are working on amendments to launch a national crypto exchange. This effort is reportedly supported both by the Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement over crypto regulation in the country.
Credit Suisse projects $1.6 billion fourth-quarter loss as it embarks on strategy overhaul... Credit Suisse on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) fourth-quarter loss as it undertakes a massive strategic overhaul.
Credit Suisse offers 889 mln shares to existing investors in $4 bln capital hike... Credit Suisse (CSGN.S) has made 889 million new shares available to existing investors at 2.52 Swiss francs ($2.67) per share, the bank said on Thursday, confirming the final terms of its 4 billion franc capital hike.
Pakistan invites Turkey to join economic corridor with China... In a joint press conference on 26 November, the Prime Minister of Pakistan invited Turkish President Recep Tayyip Erdogan to join the China-Pakistan economic corridor (CPEC) and play a key role in shaping the economic future of Asia.
Putin Calls for International Settlements Based on Blockchain and Digital Currencies... Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.”
What Is Fractional Reserve Banking?... Most large economic systems today use fractional reserve banking to stabilize and grow their economies. With factional reserve banking, banks can lend out deposits with interest to amplify the economy.
Deutsche Bank warns of peril in borrowing from U.S. banks... Germany's Deutsche Bank (DBKGn.DE) has a stark warning to European companies borrowing from U.S. lenders: They will drop you when times get tough.
Ghana plans to buy oil with gold instead of U.S. dollars... Ghana's government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Facebook on Thursday.
Silver heads for biggest deficit in decades, Silver Institute says... Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades, according to the Silver Institute on Thursday night.
G7 criminals trying to push a global currency backed by central banks now Great Reset moving right along
Banking giants and New York Fed start 12-week digital dollar pilot... Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday.