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Tag: ECB

Tucker: five years is too long for digital euro debate

The European Central Bank is dragging its feet with its five-year timeline for its decision on the digital euro, according to Paul Tucker, former deputy governor of the Bank of England. The ECB launched a two-year investigation phase in July 2021. Once completed, it will decide on whether or not to develop a digital euro, targeting deployment around 2026.Tucker said in an OMFIF keynote speech on 18 November: ‘These big questions don’t take five years. They take the right people having a handful of meetings over a few months, not five years.’Nevertheless, he praised the ECB’s…

European Central Bank CBDC Survey Finds Privacy Is The Number One Concern For Digital Euro

A three-month survey conducted by the European Central Bank (ECB) has found that EU residents are most interested in having the proposed “digital euro” respect their privacy, more so than any other proposed features or services. The central bank digital currency (CBDC) plan seeks to create a freely accessible digital means of payment backed by the banking system, with talks beginning in mid-2020 and a decision on whether or not the project will go forward expected sometime this year.
The CBDC survey did have some “lean” in that its 8,000+ respondents were…

ECB exec wonders if enough people will use the digital Euro CBDC

According to Chainalysis’s research report from September, the world’s crypto-economy is based in Central, North, and West Europe. After all, this region recorded $1 trillion in crypto received over the past year. What’s more, this represented about one-fourth of the world’s crypto-activity.
In light of these findings, naturally, the digital Euro will be the crypto to watch out for. It was in its context that Fabio Panetta, an executive board member of the European Central Bank, recently delivered a speech about the CBDC.
Bringing central banks to the future
Panetta began by…

Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says – Finance Bitcoin…

The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this paradox as well as the need to issue a successful CBDC need attention. Europe’s Digital Currency to Complement Cash and Be Monterey Anchor While cash currently provides people with access to central bank digital money, its importance in payments is declining as consumers increasingly prefer to…

ECB slams Bitcoin, talks about CBDC in 5 year timeframe – Ledger Insights

Today during the SIBOS banking conference, the European Central Bank‘s (ECB) Ulrich Bindseil said Bitcoin as an efficient payment instrument was an illusion and painted a picture of what a central bank digital currency (CBDC) might look like in five years. Meanwhile, the Hong Kong Monetary Authority (HKMA) wouldn’t specify a timeline but hinted that it could be as soon as three years.

During the panel talk, Bindseil, the Director General of Market Infrastructure and Payments,…

ECB invites tech experts to join CBDC debate

The European Central Bank is inviting technology experts to take part in online technical talks to explore options for the design of a central bank digital currency. The talks are part of an ongoing CBDC investigation phase instigated by the ECB in July and set to last two years.The ECB is inviting potential candidates for participation in the debate to address four technical issues:Large-scale application of privacy-preserving technologies in retail payments…

Reserva Fraccionaria y Bancos Centrales

Todos los billetes de dólar que circulan por Estados Unidos son billetes de la Reserva Federal (“Federal Reserve Note”). Ésta los emite como letras de cambio y pide a la Fábrica de Moneda estadounidense que los imprima, pagándole 4 centavos por cada billete.

La Reserva Federal (que es una entidad privada, aunque eso es tema para otro día) presta dinero al gobierno de Estados Unidos comprando bonos del tesoro. Y monetiza la deuda prestando el dinero que debe el gobierno a otros bancos.

Este arreglo se inventó por el Banco de Inglaterra. La diferencia es que mientras el Banco Inglaterra prestaba el oro al rey a cambio de un pagaré, la Reserva Federal simplemente otorga existencia al dinero diciendo que está ahí.… Read more...

SPOTLIGHT: INFLATION CONTINUES ITS RAMPAGE

In this edition of the Trends Journal, we are SPOTLIGHTING essential trends that will shape the economic future. Among them is inflation.

We have been reporting extensively, in great detail, of where and why inflation is heading up and its global impact on governments, businesses and consumers.

Remember, when the New Year began, from the Federal Reserve to the European Central Bank and the squad of mainstream pundits, the word on The Street was that inflation was temporary.

As the following articles detail, inflation is not temporary, since their “temporary” is already 9 months old.

Continue reading: https://trendsresearch.com/spotlight-inflation-continues-its-rampage/

Source: trendsresearch.com

Motorola 68000 SBC Runs Again with a Raspberry Pi on top

Single-board computers have been around a long time: today you might be using a Raspberry Pi, an Arduino, or an ESP32, but three decades ago you might find yourself programming a KIM-1, an Intel SDK-85, or a Motorola 68000 Educational Computer Board. These kind of boards were usually made by processor manufacturers to show off their latest chips and to train engineers who might use these chips in their designs.

[podstawek] found himself trying to operate one of these Motorola ECBs from 1981. This board contains a 68000 CPU (as used in several Macintoshes and Amigas), 32 kB of RAM, and a ROM program called TUTOR. Lacking any keyboard or monitor connections, the only way to communicate with this system is a pair of serial ports.

Read more...

Notes on CBDCs

Talking of Bretton Woods, this IMF article alludes to a huge change coming but lacks real clarity outside of allowing much more fiscal stimulus via monetary mechanisms.

https://www.imf.org/en/News/Articles/2020/10/15/sp101520-a-new-bretton-woods-moment

And tomorrow, the IMF holds a conference on digital currencies and cross-border payment systems..

https://meetings.imf.org/en/2020/Annual/Schedule/2020/10/19/imf-cross-border-payments-a-vision-for-the-future

But it’s not just the IMF. This was first floated by Mark Carney at the Bank of England over a year ago and set the course for a new system…

https://www.bankofengland.co.uk/-/media/boe/files/speech/2019/the-growing-challenges-for-monetary-policy-speech-by-mark-carney.pdf

His big idea is a move away from the dollar, using CB digital currencies so its affects on world trade, flows and debts was not so pronounced.… Read more...

Germany destroyed again

The ECB’s money printing has managed to do as much damage to Germany in the past decade, as Weimar money printing did back in the 30s.

In the 3 decades leading up to 2010, Germany was pretty much the only Western country where housing didn’t get more expensive. Instead, German housing got better, while prices actually decreased a bit year over year. Just as is the case in any market economy.

But, now being stuck in bed with the Brussels drunks: Since 2010, Germany has joined the rest of the West down the path to totalitarian dystopianness and rule by half literate, incompetent morons who “make money off their house and portfolio” as well.

With entirely predictable consequences for everything from worsening competitiveness to decreasing living standards to blind faith in whichever halfwit elbows his way to a TV screen and claims he will be the Greatest Dear Leader they have had since last time one of those swooped in to “solve” problems created by money printing.