Category: Government
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Speculation Abounds Over the Cause of Bitcoin’s Recent Rally
Crypto’s most recent bull run began last Friday, October 25, after a significant plunge in prices just days earlier that had some prognosticators worried about a return to late 2018 and early 2019’s bleak crypto winter. Since the recent spike, prices have held relatively steady, suggesting this rally is not just a flash in the…
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China Ranks 35 Crypto Projects as President Xi Pushes Blockchain
China has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to evaluate and rank crypto projects, and the central bank is…
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Why Central Banks Are Not Designed for Democracies
Through their policies, central banks exert tremendous influence over the socio-economic conditions in a country and its business environment. Their decisions are so powerful that it’s obvious they are part of the government. But most people would be surprised to find out that central banks are almost never part of the due democratic process. Also…
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Indian Crypto Trading Volumes Accelerate on Positive Sentiments
Cryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users. Also read: Mistakes Crypto Owners and Traders Should Avoid Strong Trading Volume Growth Banking services may be restricted…
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Cash Runs Dry at ATMs as Protests Escalate in Chile
There’s a lot of unrest in Chile right now as the country has seen massive protests against government manipulation and an escalation of financial problems. Local reports detail a few banking establishments have been burned after customers started having issues withdrawing cash from ATMs. Issues with the bank machines that don’t work coupled with rising…
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Lyn Ulbricht Speaks Out Against Unfair Silk Road Sentencing, Facebook and Government Hypocrisy
[youtube https://www.youtube.com/watch?v=uS8klknaLNw&w=560&h=349] U.S. representative Ann Wagner noted at a recent hearing that child pornographic material has been reported on Facebook more than any other site. Lyn Ulbricht, mother of currently imprisoned Silk Road founder Ross Ulbricht, spoke out in a video livestream Wednesday against her son’s unfair sentencing and the hypocrisy of allowing sites like…
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3 Major Signs That Precede the Fall of World Reserve Currencies
The story of reserve currencies is long and stretches far back into ancient times. As modern history shows, however, the average lifespan of fiat reserve assets is just around 100 years. This means that even the U.S. dollar’s period of dominance is probably nearing its end very soon, statistically speaking. But it’s not mere guesswork,…
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How Fiat Money Fails: Deconstructing the Government’s Paper-Thin Promise
Fiat money has a surprisingly short lifespan. The almighty U.S. dollar currently serving as world reserve currency is not exempted, in spite of all proclamation that it cannot fail. Throughout history, fiat money has failed over and over again, where sound assets like gold have survived. Ruling out acts of god and unforeseen circumstance, the…
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Bank Crisis Spreads in India – Deaths, Strike, Supreme Court Denial
The Indian banking sector is facing multiple challenges. Customers of several cooperative banks are still struggling to withdraw their money, and deaths have been reported in connection with withdrawal restrictions. Meanwhile, some 300,000 state-run bank employees are on strike against what the bank unions call “cold-blooded murder of six banks.” Also read: Indian Finance Minister…
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Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’
Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly. A recent trip to the local post office for a money order certainly had a negative effect on my own experience, thanks to the same regulations,…