RBA governor warns unregulated stablecoins, cryptocurrencies risk losses for investors – ABC News

https://www.abc.net.au/news/2021-12-09/rba-governor-warns-unregulated-crytocurrencies-risk-losses/100685500

  • RBA Governor Philip Lowe says “privately issued and backed money all too
    often ends in financial instability and losses for consumers”
  • Dr Lowe welcomes the federal government’s move to introduce new financial regulation

Russia & China to create new financial system outside Western control – Kremlin — RT Russia & Former Soviet Union

https://www.rt.com/russia/543258-moscow-china-create-independent-structure/

…The move appears to be a response to a series of warnings that Western
nations could push to disconnect Russia from the Brussels-based SWIFT
financial system as a form of sanctions…

Teen accused of North America’s biggest-ever single-person crypto heist — RT World News

https://www.rt.com/news/540726-teen-accused-canada-cryptocurrency-theft/

A Canadian teenager has been arrested after allegedly stealing $36.5 million in cryptocurrency from a person in the US. The police
claim it was the largest such heist involving one victim ever registered in North America.
Police in the city of
Hamilton, Ontario, arrested the unidentified perpetrator on Wednesday,
after over a year investigating what they have described as the
biggest-ever cryptocurrency theft from a single person in either the US
or Canada. Local police began a joint investigation with the Federal
Bureau of Investigation and the US Secret Service Electronic Crimes Task
Force in March 2020, when the theft was reported.

The Hamilton Police Service said it had made “multiple”
seizures in excess of CA$7 million (US$5.5 million) during the arrest,
which came after investigators noticed some of the stolen money had been
used to buy an online username considered “rare” in the gaming community, according to a police statement.

The
victim was apparently targeted by a cell phone hijack known as SIM
swapping. This method involves manipulating cellular network employees
to duplicate phone numbers in order to let the scammer intercept the
two-factor authorization requests that allow them access to a victim’s
account.

This method is considered especially potent because a lot
of people use the same password for multiple sites, according to
Detective Constable Kenneth Kirkpatrick, of the Hamilton Police’s
cybercrimes unit. He added that cyber and cryptocurrency crimes were
becoming increasingly common, but noted that the figures involved in
this case were “very surprising.”

“It’s a large amount of money in anybody’s opinion,” Kirkpatrick said, adding that the case was currently in the Hamilton court system.

The police haven’t revealed the age or gender of the youth, the username they purchased, or whether they were acting alone.

Luongo: Is The Bitcoin ETF “A Trap”?

https://www.nationandstate.com/2021/10/24/luongo-is-the-bitcoin-etf-a-trap/
Luongo: Is The Bitcoin ETF “A Trap”? Authored by Tom Luongo via Gold, Goats, ‘n Guns blog, So Tuesday October 19th, 2021 was supposed to be the day that changed everything for bitcoin. And it may, just not in ways anyone bullish on crypto should be comfortable with. Finally the SEC approved a Bitcoin ETF,…

Welcome To The Central Bank Hotel, Once Inside You Can Never Leave

https://www.nationandstate.com/2021/09/25/welcome-to-the-central-bank-hotel-once-inside-you-can-never-leave/
Welcome To The Central Bank Hotel, Once Inside You Can Never Leave Authored by Mike Shedlock via MishTalk.com, Central bank digital currencies are on the way. The German Central Bank just embraced a digital euro. Let’s discuss the risks… Fintech and Global Payments Jens Weidmann, president of the Bundesbank, Germany’s central bank gave the opening […]

Have Central Banks Crossed the Line into Tyranny? | Centinel2012

Comment by tonytran2015: This is a concise summary on the evolution of the Federal Reserve Banks.

https://centinel2012.com/2021/09/17/have-central-banks-crossed-the-line-into-tyranny/

…With all the conspiracy theories that somehow the bankers are the real culprits in creating excess money supply, there has been an evolution in central banks that has finally crossed the line since 2019. The Federal Reserve was, once upon a time, responsible. The Fed was originally designed as an authority to create money, which was an elastic money supply. That made perfect sense when the Fed was designed in 1913.

Yes, the bankers owned the shares BECAUSE the Fed was actually designed to do what JP Morgan did in herding the bankers together to save the day during the Panic of 1907. Morgan convinced the bankers that if they did not chip in money to bail out the troubled banks, panic would unfold, and ALL the banks would be hit as a contagion. They listened and joined his effort to stem the Panic of 1907. The design of the Fed was to recreate what JP Morgan put together. The shareholders were the bankers because it was a bail-out fund for the bankers, and TAXPAYER money should not be used to bail out the bankers.

Democrat President Woodrow Wilson signed the 1913 Act, creating the Federal Reserve as well as the income tax.

Bitcoin crashes on first day as El Salvador’s legal tender – BBC News

https://www.bbc.com/news/business-58459098

…The government has even given Salvadorans $30 each of Bitcoin to encourage

its adoption. It says bitcoin could save the country $400m a year in
transaction fees on funds sent from abroad.

However, using data from the World Bank and the government, the BBC calculates this to be closer to $170m…

‘Losing Faith’? – Cryptos & Commodities Rally As Dollar Dumps On Dismal Data, Afghan Angst

https://www.nationandstate.com/2021/09/03/losing-faith-cryptos-commodities-rally-as-dollar-dumps-on-dismal-data-afghan-angst/
An ugly week for ‘hard’ and ‘soft’ data sent the US economic surprise data to its worst velocity since the plunge in March 2020… Source: Bloomberg Precious Metals gained as investors’ confidence that the central planners have a clue starts…

El Salvador’s Legislative Assembly approves $150M Bitcoin Trust – SAYAG

https://sayag.mn/2021/09/01/el-salvadors-legislative-assembly-approves-150m-bitcoin-trust/
The Legislative Assembly of El Salvador has passed a bill to create a $150 million dollar Bitcoin Trust to support the development of crypto infrastructure and services across the country...