More News, Rumors and Opinions Late Wednesday Night 1-5-2022
KTFA:
Samson: Beijing Expands Use Of Its Digital Currency
4th January, 2022
China’s central bank has launched a trial version of the digital yuan in a bid to expand its use to more sectors.
The digital currency application is now available on Android app stores in China and the Apple App Store, and allows users to open a digital yuan wallet and spend the currency, CNBC reported.
The digital yuan, which stands for “e-CNY” is a digital version of China’s national currency and has been in operation since 2014. It is not similar to cryptocurrencies such as Bitcoin, but is instead issued and controlled by the central bank.
So far, China has conducted a number of experiments across the country, giving some users in certain cities a small amount of digital currency to spend.
Although some retailers, such as e-commerce company JD.com, accepted it as a payment method last year. However, the digital yuan has not been officially introduced at the national level, and there is no timetable for this.
The new app allows users in 10 regions including major cities Shanghai and Beijing to use it, after only specific users could use the app on an invitation basis, but now everyone can download the app. LINK
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TSM: I don’t think Iraq has a word for “imminent, immediate, soon, coming days, now, urgent, in the near future”…. I’m sure I may have missed a dozen or so others. The one thing they know is “Can kicking”…. I just hope the new parliament MAY have the best interest of their people and actually work at getting their gov’t set up…IMO
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Courtesy of Dinar Guru
Frank26 Who is the CBI now meeting with? They met with the U.S. Treasury for about 3 months in a row every Saturday. They then stopped meeting them and about a month ago they started just meeting with the executive level [of Iraqi banks]...
Pimpy Article: "Parliament sets the Great Hall of the Council as a place for its first session next Sunday". Looks like parliament is set to go ahead and hold their first session which will happen this Sunday. From there remember they appoint the speaker first, the deputies and then they announce the nominee for president. Salih has done a good job hopefully gets back in there...it's January 9th...
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MONETARY RESET, GOLD & INFLATION...Q&A with LYNETTE ZANG & ERIC GRIFFIN
Jan 5, 2022:
Question 1: 1:15 If banks conjure money from thin air when they create a loan, when the loan is paid back with actual earned money, does the bank get to now call the principal of the loan paid back a real money asset, or is it supposed to disappear back into nothingness?
Question 2: 2:30 Is there any such thing as good debt or do you guys encourage to have no debt? Is there any way to borrow money safely?
Question 3: 5:09 Will the implementation of SOFR affect gold?
Question 4: 8:22 Governments have implemented wage and price controls in periods of high inflation. Can we expect that here as the politicians’ scramble for power?
Question 5: 9:25 If there is a monetary reset against gold, who would ultimately drive this? IMF, WEF, BIS?
Question 6: 10:14 Why is gold and silver getting punished in this environment?
Question 7: 11:25 During skyrocketing hyperinflation of food energy goods, is there some reason the tamping down of gold and silver will not continue?
Question 8: 13:44 Can or would the government confiscate IRA gold, held at the depository?
Question 9: 13:56 The Money printing tamp down the real value of Gold?
Question 10: 14:49 How do you feel about investing in commodity equities or royalty companies? Is it too much of a risk at this point?
Fed’s Credibility is Destroyed, Why Cash, Gold and Silver Will Be Best Lifeline | Outlook 2022
Stansberry Research: Jan 5, 2022
The Fed ceasing the bond purchasing is, "my biggest concern for 2022, where does the yield go and what impact does that have across all asset classes," says Michael Gentile, Founding Partner and Senior Portfolio Manager at Bastion Asset Management.
Having cash and owning gold are equally under-owned in the current state of this market, he tells our Daniela Cambone in this edition of Outlook 2022: The Tipping Point.
With the cheapest valuation and having highly regarded fundamentals, "the mining sector is the most under-loved sector," and a great place to redeploy capital.
The Fed's credibility has already been dramatically weakened over the past year, and they will have to make a pivotal choice in the coming months, Gentile concludes.