Every major financial institution will be thinking about trading cryptocurrencies within the next few years, according to Vikram Pandit, chairman of The Orogen Group and former chief executive officer of Citigroup Inc. Speaking at the Singapore Fintech Festival event, Pandit told Bloomberg that in “one to three years, every large bank and/or securities firm is going to…
Every Major Financial Institution Will Think About Trading Cryptocurrencies Within Next 3 Years: Former Citigroup CEO
November 9, 2021
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G-7 Finance Officials Endorse Policy Principles for Central Bank Digital Currencies
October 14, 2021
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G-7 finance officials endorsed 13 public policy principles for central bank digital currencies (CBDC) on Wednesday, noting that while electronic cash could support inclusion and innovation in an increasingly digital economy, the currencies also raise important questions regarding policy and regulation. The G-7 countries consist of Canada, the United Kingdom, the United States, France, Germany, Italy,…
SEC Chief Says the US Won’t Follow China in Banning Cryptocurrencies
October 6, 2021
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Securities and Exchange Commission (SEC) Chair Gary Gensler told Congress on Tuesday that his agency would not follow China’s lead in implementing a ban on cryptocurrencies. Speaking before the United States House of Representatives Committee on Financial Services, Gensler was asked by Rep. Ted Budd (R-N.C.), a supporter of cryptocurrencies, whether the SEC would move to prohibit the…
As Beijing Cracks Down on Bitcoin, Devastated Nations Embrace It
Commentary In China, bitcoin is all but dead; in countries decimated by war and poverty, however, the king of crypto is well and truly alive. Bitcoin has “no actual value support,” according to Yin Youping, deputy director of the financial consumer rights protection bureau of the People’s Bank of China. Cryptocurrencies, he argues, are little…
Inflation Rising as Government Raises Debt by ‘Enormous Amount’—Interview With Barbara Kolm
With multi-trillion dollars in spending at the federal level for COVID-19 bailout packages, and with additional spending planned for policies including the infrastructure bill, there’s now talk of potential inflation. As China pushes its new digital currency and is trying to reform the global financial model, the stability of the U.S.-led financial system is being…
The IMF’s Message to the World: We Are All China Now
Commentary The Chinese Communist Party’s (CCP’s) decision to ban bitcoin should have surprised absolutely no one. Imagine if turkeys ruled the world. Would anyone be surprised if they decided to ban Thanksgiving dinner? Of course not. As a decentralized, digital asset, Bitcoin posed a direct threat to Beijing’s own digital currency, the e-CNY. In reality, Bitcoin is much more than…
Kyle Bass: The Chinese Regime Controls 200 Sq Miles in Texas Next to Major Air Force Base
May 27, 2021
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A company with ties to the Chinese Communist Party owns 130,000 acres of land in Texas—right next to America’s largest air force pilot training base. The CEO of the company, Sun Guangxin, is a former officer in China’s People’s Liberation Army and one of the largest landowners in China’s Xinjiang province. And the land, purchased…
China in Focus (May 21): Digital Yuan Helps China’s Global Currency Ambition [Premiering on 5/21 at 9pm ET]
In this special report, we discuss China’s ambition to dominate the global monetary system. The Chinese regime is speeding up its plans for digital currency… Wang Xin ,Director of People’s Bank of China Research Bureau said, “The Digital Renminbi is being tested in many regions in China.” Building a cross-border payment system to push the…
China in Focus (May 21): Digital Yuan Helps China’s Global Currency Ambition
In this special report, we discuss China’s ambition to dominate the global monetary system. The Chinese regime is speeding up its plans for digital currency… Wang Xin ,Director of People’s Bank of China Research Bureau said, “The Digital Renminbi is being tested in many regions in China.” Building a cross-border payment system to push the…
CCP Cracks Down on Virtual Currency to Prevent Money Fleeing the Country
May 18, 2021
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Commentary For many years, the CCP (Chinese Communist Party) has acquiesced to digital currency operations in China. But in 2018, it began to restrict Bitcoin transactions while still secretly encouraging Bitcoin mining. However, now that large amounts of funds are fleeing the country through virtual currencies, Chinese authorities seem determined to crack down on it….
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