Stablecoins currently “perform badly” on three key safety tests that would allow them to be used as currency, according to an analysis by the Bank for International Settlements (BIS), an organization serving the world’s central banks.
Tag: central banks
CENTRAL BANKS WILL CONTINUE STOCKPILING GOLD
In a new World Gold Council survey, 95 percent of the more than 70 central banks responding said they expect to add to their gold reserves this year and that their dollar reserves will decline over the next five years.
GOLD BULLION IS CENTRAL BANKS’ SECOND MOST PLENTIFUL RESERVE ASSET
Gold bullion has surpassed the euro to become central banks’ second most plentiful reserve asset in terms of value, according to a new report from the European Central Bank (ECB).
THE FINAL CHESS MOVE
Just this past Friday, Jamie Dimon, the CEO of the Wall St. Superbank JP Morgan made THIS statement: “We Will Have a Global Restructuring.”
GOVERNMENTS, CORPORATIONS TOP $100 TRILLION IN BONDED DEBT
The governments and corporations in the 38-nation Organization for Economic Cooperation and Development (OECD) have more than $100 trillion in bonded debt outstanding, almost as much as the entire world’s GDP, which is between $105 trillion and $110 trillion, a new OECD report has found.
METALS PRICES SKYROCKET AS TRUMP’S TRADE WAR INTENSIFIES
Copper and gold are fetching record prices and silver futures are trading at levels not seen since 2012 as investors seek safe havens and U.S. manufacturers stockpile raw materials ahead of rising tariffs.
GERMANY’S CENTRAL BANK REPORTS FIRST ANNUAL LOSS IN 46 YEARS
Germany’s Bundesbank lost €19.2 billion last year, its first negative year since 1979.
CENTRAL BANKS ARE STILL BUYING MORE GOLD, DRIVING UP PRICES
Central banks bought more than 1,000 metric tons of gold last year, accounting for about 20 percent of the market. It was the third consecutive year in which the banks bought gold in such large amounts.
SOUTH KOREA’S CENTRAL BANK CUTS INTEREST RATE
On 28 November, the Bank of Korea shaved a quarter point from its key lending rate, dropping it to 3 percent, partly over concerns that looming U.S. tariffs could damage South Korea’s export-dependent economy, the Financial Times reported.
SPOTLIGHT: THE EUROZONE’S ECONOMIC MESS
The Eurozone’s economic activity unexpectedly contracted this month, according to the Hamburg Commerce Bank’s composite purchasing managers index.