Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’
In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank […]
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Payments giant Paypal says its customers can now buy, sell and hold bitcoin and other virtual coins with the company’s online wallets. The company also says its customers will able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021. A report quotes the company’s President and Chief […]
Preparing for a change at the top, the European Central Bank has decided to keep interest rates on hold and at their all-time lows. Mario Draghi, who had his last monetary policy meeting as president of the ECB, is leaving after an eight-year term during which key rates were never raised. At the subsequent press […]
The European Central Bank (ECB) and a number of countries in the region have stepped up their efforts in response to Facebook’s Libra, which has revived a competing ECB project for instant payments. As Facebook engages Switzerland’s financial regulator, the ECB clarifies how Libra can be regulated under EU laws. Also read: India’s Popular ‘Who […]
The Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 10, Part 3 Crypto Is a Revolution of Hope, Which Is Why It Succeeds The abolition of the market means not only that the consumers—that is all members of society—are robbed of virtually all choice of consumption and all influence over […]
When you are an entrenched player deep within a certain system, especially one as complex and inflexible as the banking industry, it can be hard to implement changes, even when there is a critical need to adapt to emerging technologies. If a company wants to appear as if it is keeping up with the times, […]
Over the past year or so there’s been a lot of discussion concerning ‘attacks’ on the Bitcoin network. Across forums and social media, the subjective valuations from bitcoin proponents of what an ‘attack’ on the network really is has become an extremely contentious topic. Also read: Japanese City Attracts Cryptocurrency Miners with Abundant Renewable Energy The […]
