Florida Considering Legislation to Recognize Gold and Silver as Currency
Florida’s exploration of gold and silver as currency aligns with a return to sound money principles.
central banks
Federal Reserve Announces First Rate Cut in Over 4 Years
Today, the Federal Reserve announced their decision to cut interest rates by 50 basis points (0.5%), marking the first rate since the early days of the COVID-19 pandemic.
Gold Price Reaches New All Time High
Gold has surged to a new all-time high of over $2,555 per ounce, driven by economic uncertainties, expectations of a Federal Reserve rate cut, and increasing demand as a safe-haven asset. ING projects gold to average $2,700 by 2025, supported by geopolitical tensions, lower interest rates, and rising central bank purchases.
Gold Replacing the Dollar as Reserve Currency for BRICS Members
Central banks across the Global South have been actively bolstering their gold reserves in anticipation of this transition. China, a major player in this shift, has been consistently purchasing gold for 18 consecutive months, with a staggering $53.3 billion worth of U.S. Treasuries being sold off since the beginning of the year.
Fed Report Admits that Gold is Displacing the Dollar in Central Bank Reserves
Earlier this week the Federal Reserve released a report that showed at least 37.5% of foreign central banks are moving away from the dollar as their main reserve currency in favor of gold.
Why did RBI Repatriate 100 tons of Gold?
Economist and a member of the Economic Advisory Council to the Prime Minister of India, Sanjeev Sanyal, said on Friday that India will now hold most of its gold in its vaults. Citing the decline in confidence in dollar assets among central banks as one of the prime reasons
Central Banks Added 77 tons of Gold in September
With September’s purchases, central banks have added a net 337 tons of gold in Q3. It was the second-highest third-quarter total on record behind 2022.
Central Banks Continue Buying Gold
BRICS countries continue buying gold at a record pace as dedollarization continues.
UBS Issues Report on Central Bank Gold Buying
Banking giant UBS says demand for gold from central banks around the world is likely to surge this year as countries continue to back away from the US dollar in favor of local currency and alternative currencies that are not subject to foreign government sanctions and the weaponization. In a new report titled Three Reasons … Read moreUBS Issues Report on Central Bank Gold Buying
Florida and Indiana Ban Use of CBDC
Both Florida and Indiana have recently passed laws banning the use of a central bank digital currency (CBDC) as money in those states.
These laws explicitly exclude a CBDC from the definition of money in Florida and Indiana, effectively banning its use as such in these states.