Federal Reserve Endorses Ethereum-Backed Alternative To Libor
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News Date: June 14, 2020
Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate called AMERIBOR could serve as a potential replacement to LIBOR.
Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC).
USD Coin is on the Ethereum blockchain. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Source: forbes.com
A district court in China has reportedly ruled that Ethereum's cryptocurrency is legal property with economic value.
While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
Source: bitcoin.com
XRP the Ripple force in the Federal Reserve projects
Fed Faster Payments Task Force gives Ripple vote of confidence for next gen of global payments.Ripple's Executive Elected to Fed's Faster payments Task Force.
The desired outcomes focused on speed, security, efficiency, cross border payments, and industry collaboration.
Source:ripple.com
Switching to gold standard
Deutsche Bank's top credit strategist Jim Reid has described himself as "a gold bug," and reckons "fiat money is a passing fad in the history of money," RT's Keiser Report recalls for the show's viewers.Sources:www.youtube.com
Gold's Central Bank Buying and Possible Revaluation
Jim Grant is writing about Gold again: The press infatuation with pronouncing Gold dead, Central Bank purchases and history, Gold's performance in 2022 as inflation hedge (not so good), the potential for European Central Bank revaluations.Also, The Governor of the Dutch central bank stated the gold revaluation account ensures the solvency of his central bank in an interview on television about prospective losses.
Sources: vblgoldfix, gesara.news
Vatican entities to move all funds to Vatican ASAP
Pope Francis instructs Vatican entities to move all funds to the Vatican bank by September 30.Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank.
The subject of the transfer are the institutions connected with the Holy See that are holders of financial assets and liquidity, in whatever form they are held.
Source: catholicnewsagency.com
Trump middle-class tax cuts benefit confirmed
Despite what media and Dems say, Trump's tax cuts benefited the Middle Class the most according to IRS data.Most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.
The Tax reform provided the greatest benefits for the middle-income class and spurred economic growth that helped reduce poverty and improve prosperity.
Source: thehill.com