In a study published on Friday, the ECB said a digital euro could help where citizens have abandoned cash, foreign forms of electronic money have taken over, or other means of payments have become unavailable.

"We should be ready to issue a digital euro if and when developments around us make it necessary," Panetta said in a blog post accompanying the study. "This means that we already need to be preparing for it."

The ECB gave itself until the middle of next year to decide whether to go forward with the project, which is now open for public consultation.

The European Central Bank (ECB) is set to start experimenting with a digital version of the euro as early as October 12, while at the same time holding public consultations on whether a CBDC should be a part of the future for the European Union’s payment infrastructure, a new report from the central bank reveals.

Trump declares rare earth emergency, Australia gets ready to supply

"Mr Trump’s order states that the country’s “undue reliance on critical minerals, in processed or unprocessed form, constitutes and unusual and extraordinary threat which has its source in substantial part outside the United States, to the national security, foreign policy, and economy of the United States”."

Eventually, the ECB will decide whether it should proceed with creating the digital euro by mid-2021.

After this shipment it is unclear if Venezuela can even afford to buy new currency as it slowly transitions barter. Many won't notice: in 2020 the country's economy will be in its seventh straight year of recession, forecast to shrink another 20% due to the coronavirus lockdown and the collapse of oil revenue. Previous attempts to bring stability to the currency by cutting off zeros and printing new

“Although markets responded positively to his comments, the chance of any actual fiscal stimulus appears to be nil at this point as both time and political will are absent.,” said Boris Schlossberg, managing director at BK Asset Management, in a note.

"Cryptocurrency is a technology that could fundamentally transform how human beings interact, and how we organize society," Barr said in the statement.

The US Mint Is Hiking Silver Prices, Will Charge $67 For Each 1-Ounce Uncirculated American Silver Eagle Coin In Just Five Days!

October 13, 2020…re-setting silver prices is necessary

As Peter Schiff recently noted, "The problem is once you accept the false premise that government stimulus actually helps the economy – that it really is a stimulus – then you’ve kind of lost the argument. Because if borrowing and printing $1.6 trillion, if that’s a good thing, why isn’t borrowing and printing $2.4 trillion a better thing? Because you put the Republicans in the position of arguing that 2.4 trillion is too much of a good thing — that somehow, if we just create 1.6 trillion out of thin air and spend it, that’s really going to help. But if we push it to 2.4, it’s actually going to hurt. Why? I mean, when does something good suddenly become something bad? "

if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”

“How do you renegotiate the debt?” O’Donnell followed up.

“You go back and you say, hey guess what, the economy crashed,” Trump replied. “I’m going to give you back half.”

President of the San Francisco Federal Reserve branch Mary Daly spoke earlier, from the Q&A now. Says will not trade millions of jobs just to avoid lifting stocks. "Full employment, the idea that everyone who wants a job can get a job, is the foundation for ensuring more equitable outcomes."

--- Translation: That is, a green light for stocks (and risk-related assets too) to gain. Fed will be keeping loose policy for some time to come. The Fed is not even thinking about thinking about raising rates they say.

The central bank said its targeted launch date for FedNow Service remains “2023 or 2024,” with a more specific time frame to come. The Fed will take a “phased approach” to rolling out the platform; an initial launch will offer “baseline functionality” with the goal of “help[ing] banks manage the transition to a 24x7x365 service,” and that will be followed by additional features and enhancements to be “introduced over time.”

Keynote speech: Climate change and monetary policy

Here Keynes, in agreement with Lenin, explains what’s going on:

“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

The selling was driven by gold producing nations Uzbekistan and Turkey, which led to reported gross sales jumping to 78.9 tonnes in the third quarter. It should be noted that Russia’s central bank also reported its first quarterly sale in 13 years. ... “Central banks turning net sellers may impact gold prices in the short term. That, coupled with the uncertainty around the US elections and fund re-balancing which typically happens towards the end of the year ... “That said, we don’t expect all central banks to turn net sellers in gold. Some of them are likely to continue buying gold given the economic uncertainty is still looming large and as they are looking to diversify their reserves away from the dollar which is witnessing significant value erosion,"