Free Republic

Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system.. The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched. 90% of the world's central banks are now exploring digital versions of their currencies. Most don't want to be left behind by bitcoin and other cryptocurrencies, but are grappling with...

A Massachusetts woman has been charged with trespassing, assault on a court officer and disorderly conduct and is now facing jail time after trying to enter the State House without showing proof of COVID-19 vaccination. Michelle Efendi, a 37-year-old mother of four, could spend six months behind bars after her non-violent attempt to get into the State House in Boston. The incident took place shortly after the State House reopened to the public following its COVID-19 closure. She explained the reason for her visit to radio host Dr. Drew Pinsky, saying: “I wanted to meet my elected officials. No one...

Central bank digital currencies can push the world away from depending on the U.S. dollar, the organization said. . The International Monetary Fund (IMF) released a handbook for global central banks regarding the development and implementation of central bank digital currencies (CBDCs). The IMF’s “Central Bank Digital Currency Virtual Handbook” published last week pointed out that the increased use of CBDCs can “reduce dollarization” of the global economy—a situation where countries move away from relying on the U.S. dollar as a reserve currency. De-dollarization would push up borrowing costs in the United States, making loans expensive for businesses and individuals,...

Central bank digital currencies are feverishly being developed all over the globe, and this is something that should deeply alarm all of us. For a moment, I would like for you to imagine a world where the government instantly knows whenever you buy or sell something. No transaction would ever be truly private, not even your most personal or embarrassing ones. In addition, your money would not be truly your own under such a system. Your access to the digital currency system would be a privilege which could potentially be suspended or revoked with the click of a mouse. All...

A reader sent me this graphic which is circulating on social media. Whenever I see an unattributed image like this going around I want to verify it, lest it be photoshopped, a deep-fake or some derivation of “urban legend”. Sure enough, if you go to NatWest bank’s website, right here – you see this cash withdrawal policy spelled out for all to see: This isn’t actually new Here in Canada, for at least a few years – predating COVID, the big four banks have been routinely asking you why you are taking cash out whenever you withdraw anything over a...

International Man: In practically every country, the allowable limit for cash withdrawals and transactions continues to be lowered. Further, rampant currency debasement is lowering the real value of these ridiculous limits. Why are governments so intent on phasing out cash? What is really behind this coordinated effort? Doug Casey: Let me draw your attention to three truths that my friend Nick Giambruno has pointed out about money in bank accounts. #1. The money isn’t really yours. You’re just another unsecured creditor if the bank goes bust. #2. The money isn’t actually there. It’s been lent out to borrowers who are...

Cheques or cash payments of more than $10,000 will not be accepted next year, raising concerns about the government one day adopting problematic central bank digital currencies. ... The Canada Revenue Agency (CRA) starting in 2024 will no longer allow citizens to pay tax debts over $10,000 by cheque and will mandate payment via electronic means under a new rule that is part of a federal omnibus budget bill likely to become law soon. Since 1917, the CRA has allowed anyone with tax debt to pay by “cash or cheque,” but beginning next year payments of more than $10,000 will...

While much of the financial transactions in the U.S. and globally are digital, a CBDC would be digital only and not available in a tangible form.. Florida could become one of the first states to reject via legislation plans by the Federal Reserve to implement a central bank digital currency. House Bill 7049 and related bill Senate Bill 7054 both define the terms of central bank digital currency and money for the purpose of the U.S Uniform Commercial Code, which is a uniformly adopted state law for the transaction of interstate commerce. Both bills would prohibit the use of both...

Based upon reports from inside several governments, the IMF has been directing all central banks to terminate paper money by 2022 and move to digital currencies. The real motive here is to terminate the underground economy and to ensure that everyone is 100% taxed as they determine. This has been the driving force behind the shift toward tangible assets with real estate, collectibles, and equities rising. This has been capital trying to get off the grid. One house on the beach I am personally aware of sold for $1.2 million in 1992 is up for sale now at $7.8 million....

Due to operational difficulties the London Gold Exchange is permanently closed for business. Thanks to all of our members. London Gold Exchange International Digital Currency Trader 26/09/2011