The Bank for International Settlements (BIS) and four central banks will test the use of digital currencies for cross-border transactions. The BIS, along with the Reserve Bank of Australia, Monetary Authority of Singapore, Bank Negara Malaysia and South African Reserve Bank, will develop platforms for cross-border transactions using multiple central-bank digital currencies (CBDC), which are digital versions of national currencies. Central banks seek to bolster the public’s trust in government-issued money in the face of competition from cryptocurrencies. A BIS survey of central banks found that 86% were actively researching the potential for CBDCs, 60% were experimenting with the technology and 14% were deploying pilot projects. The new platform will allow financial institutions to transact directly with each other in digital currencies issued by central banks, eliminating the need for intermediaries. -GEG
The Bank for International Settlements and four central banks will test the use of digital currencies for cross-border transactions, as global regulators seek to improve the speed of movement of money in a cheaper, more transparent manner.
The BIS Innovation Hub, along with Reserve Bank of Australia, Monetary Authority of Singapore, Bank Negara Malaysia and South African Reserve Bank, aims to develop prototype shared platforms for cross-border transactions using multiple central bank digital currencies, or CBDCs, the group of global regulators said in a Sept. 2 press release.
The project “brings together central banks with years of experience and unique perspectives in CBDC projects and ecosystem partners at advanced stages of technical development on digital currencies,” said Andrew McCormack, the chief of the BIS Innovation Hub Singapore Centre. The Geneva-based group is confident that the experiment will “lay the foundation for global payments connectivity,” McCormack added.
Interest in CBDCs, which are envisaged as digital notes of fiat currencies, is rising with changes in the way payments are expected to be made in the future. Central banks globally are keen to protect the public’s trust in money as a clutch of cryptocurrencies seek legitimacy as an alternative form of money. A BIS survey of central banks found that 86% were actively researching the potential for CBDCs, 60% were experimenting with the technology and 14% were deploying pilot projects.
The proposed platform will allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks, eliminating the need for intermediaries and cutting the time and cost of transactions, BIS said. The project will explore the international dimension of CBDC design and support the G20 group of nations’ effort to enhance cross-border payments.
Approximately 15% of Americans who took a COVID-19 vaccine have some new medical illness and regret the shot. Nattokinase, a cheese-like food made from fermented soybeans, is being considered as a treatment for spike proteins from COVID vaccines.
The French government raised the retirement age from 62 to 64. The retirement reform bill was approved without going through a vote in the lower house – where President Macron’s party does not have a majority. Invoking Article 49.3 in the French Constitution allows for the creation of a dictatorship.
Zero Emissions Livestock Project (ZELP) makes its money by leasing the smart masks out to farmers and by selling carbon offset credits. A critic noted that the cow smart mask can lead to normalizing “smart” facewear for both animals and humans.
The left hopes to take out Trump using the justice system, but if Trump is indicted, it will demolish the justice system. What happens when the Department of Justice decides that its goal is not justice, but protecting the ruling class at all costs?
Consumers’ Research said, “This veto by President Biden goes directly against the interests of the American people and once again creates an illegitimate loophole for companies like BlackRock, State Street and Vanguard to exploit to put politics over profits with American pension dollars.”
John Anthony Castro is running for president as a “Republican”, but has been accused of being a plant to fool voters. While Castro called for violence if Trump supporters riot, there is a dangerous history of Trump fans being beaten by the opposition when they showed peaceful support for Trump.
House Bill 1633 would prohibit retail establishments from requiring payment by credit card or a central bank digital currency (CBDC) during normal business hours. Retail establishments also could not legally prohibit the use of cash. State and local government entities would operate under similar rules.
FedNow is an instant payment processing system that seeks to be the base of all digital transactions. Centralized payment systems that monitor and record payments have been shown to be a gateway to a Central Bank Digital Currency (CBDC) digital dollar.
If enacted, SB 1558 would officially recognize gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver — thus bringing Texas closer to constitutional compliance and treating gold and silver as money.
The Zelensky regime is going to continue sending troops to die in Bakhmut, which has been described as a meat grinder. Italian Prime Minister Silvio Berlusconi said last month, “All [Zelensky] had to do was to stop attacking the two autonomous republics of the Donbass and this [war] would not have happened.”
Germany’s Minister of Health Karl Lauterbach, who supported mandatory COVID shots and once claimed that COVID-19 vaccination is free of side effects, admitted last week that he was wrong. He said adverse reactions occur at a rate of one in 10,000 doses and can cause “severe disabilities.”
The farmers’ BBB party opposes the government’s goal to buy farmers out and reduce livestock numbers by up to a third to help slash nitrogen emissions in half by 2030. Critics have pointed out that the regulations have caused food shortages and some people are unable to eat every day.
Gérard Fauré said Celine Dion’s mysterious degenerative illness was due to her abusive consumption of adrenochrome. He added that Yves St-Laurent and other people in the fashion industry were pedo criminals. When Fauré mentioned the name of France’s President Emmanuel Macron, the interview was cut short.
On March 14, 2023, an American reaper drone went down over the Black Sea, but Russian and US officials have different versions of what happened. War monger Senator Lindsey Graham said that if a Russian plane ever gets near another U.S. asset flying in international waters, their airplane would be shot down.
Greg Mannerino predicted that small regional banks that got “loans” from the Federal Reserve are failing in order to go up for sale and to be absorbed into the bigger banks at fire sale prices. He said that the Wall Street banks will stocks will rise.
In 2014, then Vice President Joe Biden stated: “These smugglers — and everyone should know it, and not turn a blind eye to it — these smugglers routinely engage in physical and sexual abuse, and extortion of these innocent, young women and men by and large.”
A recent survey found that most teachers (51%) are already using ChatGPT in schools and a number of students are using it for assignments. ChatGPT has passed many high-level exams, including the Wharton MBA exam, US medical licensing exam, several law exams and a final at Stanford Medical School.
A database showed that the Black Lives Matter (BLM) movement and related causes received an astonishing $82.9 billion from corporations. They asserted that the BLM pressure campaigns, harassment, and moral blackmail amounted to possibly the most lucrative shakedown of corporate America in its history.
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Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)
Choke Point 2.0 targets cryptocurrency (crypto) as regulators are cracking down on banks taking deposits from crypto clients. Cryptocurrencies may trade against CBDCs in the future, which could allow those in power to take control of the industry.
Kansas Legal Tender Act would allow gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver, treating the precious metals as money. It will also help Kansas avoid the federal government’s planned Central Bank Digital Currencies (CBDC), which severely threaten freedom.
CBDC is ‘programmable’ and can control people’s spending. He said that CBDC will act as a digital coral and your money will be worthless outside of your zone, which is the 15-minute city model. Your money and your phone will only work in your city. CBDC must be resisted to maintain any shred of freedom.
Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (
