Category: Economy

According to recent research by the Economic Freedom Country Audit Zimbabwe (EFCAZ), talking about monetary instability in the country, escalation is inevitable unless urgent political changes are implemented. Given that there is little evidence of political will to resolve this situation, the country is struggling with instability. The currency of Zimbabwe, which was introduced in April 2024, did not contribute to the stability and improvement of the economic situation in the country. Bad economic policy led by the top government is slowly causing unrest in the country. Despite the fact that this currency crisis has been going on for more than 20 years, political officials have failed to stabilize the economy and help the nation. Zimbabwe is a country rich in mineral resources. Dominant minerals are platinum, chrome, gold, coal,…

The Reserve Bank of India announced on (October 29.2024) to transport additional 102 tons of gold from Bank of England to its secure location in India. Total reserve of gold held by RBI are 855 tones. From 855 tones a reserve kept on Indian soil are 510 tones. There are much reason why RBI has changes his strategy to move its gold to Indian soil. One and the most important is a geopolitical risk. India as part of BRICS will have to ensure stability in its economy in time where currency dips in value, gold typically rises this enable central banks to protect their reserves at time of market volatility. This year in May, India announced that had already moved 100 tons from the UK, which represented the most significant…

In the past 4-year South Africa banks have drastically reduced ATMs and branches. This trend continues as most of banks around the world started to reduce their ATMs and branches preparing for evolutionary step to era of digital cash in one-word digital banking. The dominance of digital banking has boosted banks income and reduction expenses. This digital trend will continue rapidly because of the convenience and efficiency of digital platform. The increase in online transaction in 2024 has risen the digitalization of banking products. Standard Bank one of South Africa’s largest financial institution stated a 30% increase in online transaction of 1.5 billion digital transaction using their platform. Nedbank in 2019 listed more than 700 branches in its portfolio, but in 2024 they dropped to 500.  This surge in digital…

Economist and gold advocate Peter Schiff has warned, Fed's rate cut will lead to Economic Disaster. He wrote on X platform, Elaborating: „Not only will this round of rate cuts not stop a cooling economy from entering a recession, but it will also turn up the heat of inflation, making the recession that much worse. “ Federal reserve bank decision is based on hope and this rate cut will only make things worse for the economy and its people. The worst trouble is that long-term bond yield rose. This warning from Peter Schiff was absolutely justified regarding the fact that Fed have made a policy mistake crushing the dollar and reignite inflation who will angared more debt and send consumer prices soaring. Schiff commented on Wednesday: „ Analyst claiming the…

MasterCard and Mercuryo have launched a multi-chain debit card, allowing users to spend their cryptocurrency directly from their wallets. This MasterCard functions as a debit card, available to use across MasterCard’s 100 M+ network of merchants. It integrates with both Apple Pay and Google Pay. How it works the MasterCard Web3 Card MasterCard and Mercuryo joined forces and made a new credit card who offers easy and safe way to access crypto-money of their consumer’s digital wallets. The new step who makes it simple for Web3 wallet user to access their self-custody crypto balances and spend in across 100 million+ acceptance locations anywhere where MasterCard is accepted. One of the most important mission of MasterCard is to adopt the self-custody crypto. Self-custody is the core concepts of cryptocurrency, providing a…

Russia announced on September the first to start its cryptocurrency cross-border exchange. As said the use of digital tokens will help the economy especially Russian companies to easy transaction outside country, because of the difficulties who are set by international sanction. Because of the international sanction and Western restriction Russia was forced to develop its own system and to create new BRICS block challenging the West. Western countries despite the effort to help Ukraine to rage war against Russia and create sanction against Russia have backfired in many ways. Russia will utilize its National Payment Card System (NPCS) to carry on the exchange of rubles into cryptocurrencies for international transactions. All trial transaction will be under the supervision of the Central Bank of Russia. About National Payment Card System (NPCS)…

There are many indicators that already show how the US dollar is losing his position and power in the world. The number one reserve currency is backed by debt. BRICS nations started to developed their own currency and many investors and government are turning back to gold and silver backed up currency. For now, the US government is trying to stop and get rid of the US dollar and get their new digital form of US dollar who by the state will be more secure, stable, reliable, efficient and backed by gold. For now, the US dollar has many targets on its back. One of them is China as a major devaluation of US dollar because of its exporter that hurt the US. Dollar lower position as the world principle…

To support monetary policy decision making, South African Reserve Bank has constructed a new inflation measure to monitor underlying prices. In order to distinguish short-term inflationary pressures from those that are more persistent, this measure is unique and will provide policymakers with a better insight into inflationary fluctuations with headline and core inflation. Authors said "Expanding the set of measures to assess underlying price pressures increases the robustness and confidence in correctly determining persistent inflation dynamics given the uncertainty surrounding any such measure". It is crucial for the formulation of monetary policy. As we know, super-core inflation consists of an increase in the basic prices of goods caused by the general economic conditions of production, which shows sensitivity to the business cycle, authors including Samantha de Kock, MG Ferreira and…

Kazakhstan central bank has announced to pay her first project regarding railway construction whose goner connect China and Kazakhstan with CBDC. Launching his first pilot project to use central bank digital currency (CBDC) Kazakhstan has allocated funds and started the second phase of introduction of the (CBDC). The National Bank of Kazakhstan (NBK) statement that it will ensure transparency, efficiency of (CBDC). In the first stage of Kazakhstan CBDC, a wide range of function has been implemented such as launching and testing cross-border payments with use of SWIFT system. The infrastructure of Kazakhstan CBDC has been integrated with Binance Smart Chain (BSC) network. The CBDC was used to pay for building and connecting double-track railway between Moyynty in central Kazakhstan and Dostyk on the Chinese border across from Xinjiang. The…

On May 24, 2022. Bank of Canada announced the exploration and research of issuing digital form of Canadian dollar; Canada has made a first step of going cashless. “Bank of Canada, in an era of rapid digitalization, we need to do the necessary work to be ready if Canadians’ payment preferences or needs change. As commerce becomes ever more digital, Canadians should continue to have all the benefits of money issued by the central bank.” We are witnessing a global change who is following the legislation of cashless society. As the percentage of cash, transaction slowly loses his strength and more and more transaction goes digital the process of going cashless is an easy step for Central bank of Canada. As announced Central bank of Canada is approaching their goal…