Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Im a good bit of pages behind so sorry if someone already posted this.
Here is some serious Bitcoin Bull Porn right here.
The (Central) Bank of England released a paper Thursday on Central Bank Digital Currencies, CBDC's.
https://www.bankofengland.co.uk/paper/2020/central-bank-digital-currency-opportunities-challenges-and-design-discussion-paper
Its long and mostly boring but a new idea is buried in it.
"There may also be benefits from remuneration for unconventional monetary policy. If interest rates are, and
continue to be, low then central banks are likely to be constrained by the lower bound more frequently than
historically was the case. A CBDC that could be remunerated at a negative rate
could be used to relax that
constraint, to the extent that the constraint was caused by the fact that cash pays zero interest (Bordo and
Levin (2019)). "
They just realized they can solve their problem of negative rates. You see they would like to have negative rates as the ultimate way to ruin savers and force them to spend their money on stuff they dont need and stay living paycheck to paycheck forever. Bankers know if they have negative rates for personal bank accounts then people will just withdraw their money and stash it. Cash pays zero interest and defeats negative interest rates.
Their solution is to give everyone Digital Banker Bucks and when they wanna have a negative interest rate, they just make your Digital Bucks disappear over time in your digital wallet if you dont run out and buy stuff with it.
To confuse people about the theft, the devious obscurantists call it "Negative Remuneration."
Add that to the purposely confusing jargon vocabulary like Repos, Quantitative Easing, OMO, and POMO.
No wonder they freaked out about Libra, it was hard money compared to this.
Here is some serious Bitcoin Bull Porn right here.
The (Central) Bank of England released a paper Thursday on Central Bank Digital Currencies, CBDC's.
https://www.bankofengland.co.uk/paper/2020/central-bank-digital-currency-opportunities-challenges-and-design-discussion-paper
Its long and mostly boring but a new idea is buried in it.
"There may also be benefits from remuneration for unconventional monetary policy. If interest rates are, and
continue to be, low then central banks are likely to be constrained by the lower bound more frequently than
historically was the case. A CBDC that could be remunerated at a negative rate
could be used to relax thatconstraint, to the extent that the constraint was caused by the fact that cash pays zero interest (Bordo and
Levin (2019)). "
They just realized they can solve their problem of negative rates. You see they would like to have negative rates as the ultimate way to ruin savers and force them to spend their money on stuff they dont need and stay living paycheck to paycheck forever. Bankers know if they have negative rates for personal bank accounts then people will just withdraw their money and stash it. Cash pays zero interest and defeats negative interest rates.
Their solution is to give everyone Digital Banker Bucks and when they wanna have a negative interest rate, they just make your Digital Bucks disappear over time in your digital wallet if you dont run out and buy stuff with it.
To confuse people about the theft, the devious obscurantists call it "Negative Remuneration."
Add that to the purposely confusing jargon vocabulary like Repos, Quantitative Easing, OMO, and POMO.
No wonder they freaked out about Libra, it was hard money compared to this.
Central bank digital currencies are definitely coming. ECB is going to have their own, Bank of England theirs and Murica is going to be strong armed into Libra. Even China has a CBDC in place. They are coming and your best bet is KING BITCOIN.
We live in very interesting times!