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Olduvai III: Catacylsm
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War on Cash: India Rolling Out Retail Pilot Program for Digital Rupee

War on Cash: India Rolling Out Retail Pilot Program for Digital Rupee NOVEMBER 23, 2022  BY SCHIFFGOLD   0   1 We recently reported that the Federal Reserve plans to launch a 12-week pilot program in partnership with several large commercial banks to test the feasibility of a central bank digital currency (CBDC). The US isn’t alone in experimenting with digital […]

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RBI Bows To Political Pressure With Unexpected Rate Cut

RBI Bows To Political Pressure With Unexpected Rate Cut Fed Chairman Jerome Powell isn’t the only leader of a major central bank to capitulate to political (and market) pressure so far this year. On Thursday, RBI Gov. Shaktikanta Das during his first meeting at the helm of the bank led a 4-2 vote to cut […]

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The Latest Evidence That Global Trade Has Collapsed: India’s Exports/Imports Plunge By 25%

The Latest Evidence That Global Trade Has Collapsed: India’s Exports/Imports Plunge By 25% Late last month, India surprised 51 out of 52 economists when the RBI cut rates by 50bps. Although economists have a reputation for being terrible when it comes to making predictions (getting it wrong perpetually is almost a job requirement), it’s difficult […]

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India “Surprises” 51 Out Of 52 “Experts”, Slashes Rates More Than Expected As Easing Bonanza Continues

India “Surprises” 51 Out Of 52 “Experts”, Slashes Rates More Than Expected As Easing Bonanza Continues Late last month, we asked how long it would be before the RBI hit back in the wake of China’s yuan deval. The Indian government’s chief economic advisor Arvind Subramanian had just told ET Now television that India may need to […]

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India Central Bank Cuts Interest Rate “Pre-Emptively” For Second Time In 2 Months

India Central Bank Cuts Interest Rate “Pre-Emptively” For Second Time In 2 Months In a surprise move, the RBI just cut its main interest rates for the second time in two months, taking it from 6.75% to 6.50%, in what the central bank calls a “pre-emptive” policy move, but what is in reality merely a […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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