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 […]

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


…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

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

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...

Canadian investment firm plans to plant trees for every Bitcoin ETF investment – SAYAG


Accelerate Financial Technologies plans to match investments in its unresolved Bitcoin exchange-traded fund (ETF) with the planting of thousands of trees.

Cryptocurrency heist hacker returns $260m in funds – BBC News


… at 18:28 BST on Wednesday, Poly Network said it had received $260m.

Poly Network posted on Twitter that it had been sent digital tokens relating to three crypto-currencies, including $3.3m worth of Ethereum, $256m worth of
Binance Smart Chain (BSC) and $1m worth of Polygon…

Hackers steal over $600 MILLION in one of the biggest crypto heists ever — RT Business News


Some $611 million worth of crypto assets have been stolen by
cybercriminals using the multinational blockchain platform Poly Network.
We’re sorry to report that #PolyNetwork was attacked on @BinanceChain, @ethereum and @0xPolygon,” the platform said on Twitter, identifying three addresses where stolen assets were transferred.

total of 9,468 in various crypto tokens valued at approximately $611
million were drained from the platform, including hundreds of millions
of dollars worth of Ethereum and Binance coins.

Poly Network urged cryptocurrency exchanges to “blacklist tokens
coming from the addresses linked to the hackers. Also, it launched a
preliminary internal investigation that found a vulnerability between
the platform’s contract calls, which may have given cybercriminals a way
to steal the funds.

Great News For Cryptocurrencies: Senate Budget Deal Hinges On Billions In Crypto Taxes

Great News For Cryptocurrencies: Senate Budget Deal Hinges On Billions In Crypto Taxes First the bad news: as part of the Senate’s bipartisan infrastructure deal, lawmakers quietly snuck in a provision imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and electricity infrastructure. […]

Bank for International Settlements (BIS) Chief Talks ‘Absolute Control’ of Money | MCViewPoint


… It is something else entirely to introduce digital money which gives bureaucrats the power to monitor and control the spending of everyone who adopts it.

Novel ideas are already being floated. For example, the Federal Reserve could issue stimulus funds with an expiration date, forcing people to spend rather than save.

Officials could limit spending to certain geographic boundaries, and thereby impose a restriction on travel. They could pick winners and losers, favoring some merchants or industries or crushing others.

The only fly in the ointment is that mistrust in government is rising quickly in the US…