Waller confirmed to Fed Board. WH supports Shelton
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News Date: December 4, 2020By a completely partisan vote of 48 to 47 (though Rand Paul voted against), The Senate confirmed Trump nominee Christopher Waller to the Federal Reserve Board of Governors - filling one of the two vacant slots on the influential economic body.
The White House remains confident that Ms. Shelton will be confirmed and is fully supportive of her candidacy, a White House spokesman said Thursday.
Her beliefs:
- eliminating the Feds independence and federal deposit insurance
- returning the U.S. to a gold standard
Sources: www.forexlive.com, www.zerohedge.com
The Quantum Revolution
How Quantum Computing Will Transform Life:Quantum computing remains a nascent technology, but its potential is already being felt across many sectors.
From healthcare to finance to artificial intelligence, we look at the industries poised to be reshaped by quantum computers.
Quantum computers could help improve by parsing through data more quickly, running better forecasting models, and more accurate weighing conflicting possibilities.
They could also help solve complex optimization problems related to tasks like portfolio risk optimization and fraud detection.
Sources: www.cbinsights.com
Central Bank digital currencies Competition
China CBDC Pilot Program Beats West to the Punch.Chinas Ministry of Commerce has announced the pilot run of the country's central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau.
Bitcoin and Facebooks Libra cryptocurrency may eventually be in competition with central bank digital currencies.
Source:www.securities.io, www.forbes.com
Government shutdown averted through December
Shutdown averted: Senate passes continuing resolution to keep US government open through December.The US Senate approved a stopgap funding bill Thursday in a rare show of cross-party unity to avert a crippling government shutdown and keep the lights on for another two months.
The return to the golden age. The gold standard will rise again
The New $100 Bill Will Usher In A NEW Gold StandardIt seems like today's national leaders are gradually reaching a consensus about how the world's monetary system should be structured. They are getting ready to return to a gold standard system.
Source:forbes.com
Ripple partner Nium takes on SWIFT
The new solution, which leverages Ripple's blockchain network Ripplenet, claims to lower settlement costs for Financial Institutions by up to 90% for international brokerage account transactions when compared to transactions settled via the SWIFT International Payments Network.XRP powers NIUM's alternative to swift.
Nium has pointed to three major benefits of its global payments network and new brokerage solution: cost savings of up to 90%, improved customer satisfaction, and increased demand for new partnerships.
Source: financefeeds.com