Bern
Member

Bubblicious

https://www.sec.gov/news/speech/peirce-remarks-association-private-enterprise-education-040824 She's diplomatic because she has to work with her colleagues. But she is fighting for a sane/honest approach

Zim is the name of the old Zimbabwe dollar. ZiG = "Zimbabwe Gold". It was originally the name of Zimbabwe's digital gold token when they rolled it out last year. With the recent currency change, they renamed the digital token to be "Gold Back Digital Token" or GBDT so they could name the new currency the ZiG (still short for "Zimbabwe Gold") instead of Zim. Tokenization of assets has been a growth vector in the crypto space for several years. Blackrock is a newcomer to the industry. They are not leading innovation in the space - they are just using their 800lb gorilla size to capture as much of the market as they can. Blackrock had nothing to do with Zimbabwe's token. Zimbabwe's token was developed before Blackrock jumped into the game.

I'm not sure why? It has nothing to do with what is happening in Zimbabwe.

Gold closed the week at $2,434.73 at the SGE (China) - roughly $90 higher than spot through US trading hours. Now er got escalation in the middle east (Iran/Israel). That's a lot of rocket fuel for gold I would think.

Looks like gold is going to close out the week near $2,400. It's still looking strong even with the dollar index rising.

https://www.nysun.com/article/the-miracle-of-milei-argentina-could-spark-a-passionate-embrace-of-individual-liberty-and-prosperity?newsletter-access

Zimbabwe has announced the replacement of the Zimbabwe dollar (ZW) with a new gold standard currency (ZiG) backed by a basket of gold and USD. They are renaming the existing ZiG digital gold token as GBDT (gold backed digital token). https://www.pmbug.com/threads/zimbabwe-made-gold-legal-tender-and-reintroduces-gold-standard.4966/post-98582

Thanks, but I don't think it ever left. They have just ramped it up lately. I didn't follow up in this thread, but the banking system has been busy developing debanking rules based upon anti-money laundering (AML) concerns that have been debanking all manner of small business that are heavy cash operations including coin shops that buy and sell physical gold and silver. It's an insidious disenfranchisement of free market trade.

Thread title probably needs an update. Gold at $2,280 ATH and eyeing $2,300 ... Maybe $2,500 by end of year?

Bold is mine: https://www.forbes.com/sites/digital-assets/2024/03/28/cbdc-prohibition-is-gaining-momentum/ That's what I've been saying...

Cheers. 1773123345820614699 https://twitter.com/mercoglianos/status/1773123345820614699

https://www.msn.com/en-us/news/us/these-people-are-heroes-maryland-gov-reveals-how-lives-got-saved-before-bridge-collapse/ar-BB1kz6Wd

https://www.msn.com/en-gb/news/us/uk-court-says-assange-cant-be-extradited-on-espionage-charges-until-us-rules-out-death-penalty/ar-BB1kyCC7

Word from Russian propaganda/news channels is that the Ukranian embassy/consulate in Tajikistan had published and then deleted something on their website trying to recruit or foment Russian action. Details are sketchy. Take with a grain of salt.

Zero reserve requirement does not "expire". It's still the current regulatory regime. While banks are not required to maintain any specific reserve ratio any more, they do have to manage liquidity. They (the banks) are fighting right now to avoid having to comply with Basel III standards on that front as American banks do not have the reserves/liquidity to meet the Basel III requirements. Last I saw, it looked like the Fed was going to neuter the requirements. I wrote a bit about this issue here: https://www.pmbug.com/threads/what-is-risky-in-life-zero-reserve-or-full-reserve-banking.5723/ Also, the banking laws changed from bail-out to bail-in circa 2013: https://www.pmbug.com/threads/no-banks-are-safe-bail-ins-fdic-limits-systemic-risks.2237/