Reserve Bank of Zimbabwe Defies IMF’s Warning, Sells $39M Worth of Gold-backed Digital Tokens

Zimbabwe seeks to use gold-backed crypto tokens to salvage the country’s economic situation. The Reserve Bank of Zimbabwe has dammed any potential consequences by selling 14 billion Zimbabwean dollars ($39 million) worth of gold-backed digital tokens. That is despite an earlier warning it received from the International Monetary Fund (IMF) not to go ahead with … Read more

Arthur Hayes’ Exit Liquidity Article Explores America’s Position as Global Reserve Currency Issuer

BitMEX co-founder Arthur Hayes examines de-dollarization and its fiscal and political implications in an article titled ‘Exit Liquidity.’   Former BitMEX CEO Arthur Hayes recently aired his views on exit liquidity vis-à-vis the US dollar’s reserve currency status. In a Medium blog post, the American entrepreneur wrote exhaustively on whether the US dollar can be replaced as the global … Read more

Central Reserve Bank of Peru Finalizes CBDC Research Stage, Three More Phases to Production 

The President of Central Reserve Bank of Peru (CBRP), Julio Velarde Flores, announced in November 2021 that the country would cooperate with India, Singapore and Hong Kong to develop a CBDC. The Central Reserve Bank of Peru (CBRP) has recently published a report on the need for a well planned Central Bank Digital Currency (CBDC) … Read more

US Federal Reserve Increased Interest Rate by 0.25% despite Banking Crisis

Irrespective of its current leanings, the Federal Reserve will implement additional rate hikes to correct the strain that is still being felt in the economy by the average consumer. The United States Federal Reserve through the Open Market Committee (FOMC) has increased its interest rate by 25 basis points (0.25%). The rate hike was as … Read more

BlackRock Says Federal Reserve May Continue Hiking Rates

The next Federal Reserve meeting slated to take place between March 21-22. The world’s largest asset manager, BlackRock, has weighed in on the subject of interest rate hikes by the US federal reserve. According to BlackRock, upcoming federal reserve decisions are likely to see the rates increase by almost 6%. Per a CNBC report, the … Read more