{"id":40937,"date":"2018-11-26T07:31:18","date_gmt":"2018-11-26T12:31:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40937"},"modified":"2018-11-26T07:31:18","modified_gmt":"2018-11-26T12:31:18","slug":"central-banks-looking-at-creating-their-own-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40937","title":{"rendered":"Central Banks Looking at Creating Their Own Cryptocurrencies"},"content":{"rendered":"
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Central Banks Looking at Creating Their Own Cryptocurrencies<\/a><\/h3>\n<\/div>\n
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The IMF has recommended that all Central banks should issue their own cryptocurrencies.\u00a0Indeed,\u00a0they are looking at\u00a0using Block Chain to keep track of taxes and to enforce negative interest rates with
\ncryptocurrencies which would allow them to impose negative interest rates whenever\u00a0necessary. With adopting cryptocurrencies that governments would control,\u00a0we will come one step closer to losing all our freedom. Central banks could enforce negative interest rates with cryptocurrencies and thus people would find their accounts just garnished. This technology is also causing those in hunt of tax revenues to lick their lips.<\/p>\n

The issuance of digital currencies would allow central banks to remain in control of the money supply far more so than they are today. Sweden is moving forward and there we see that the use of cash is rapidly disappearing.
\nCryptocurrency technology would allow also the taxman to just cometh and take whatever he desires in the midst\u00a0of the economic crisis we face. The Central Banks would be able to maintain greater control over the creation of money through the process of leverage (bank lending).<\/p>\n

While policymakers in Canada have already researched the idea. The IMF head Christine Lagarde called on central banks to\u00a0focus on issuing digital currencies. All of this attention is being applied as the fear of rising interest rates in the marketplace\u00a0is really beyond the control of central banks. It is true that central banks can control the short-term rates, but long-term rates are established by the free market. This is why the Federal Reserves was buying in 30-years bonds hopefully to impact the long-term rates which the Fed cannot directly control.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Central Banks Looking at Creating Their Own Cryptocurrencies The IMF has recommended that all Central banks should issue their own cryptocurrencies.\u00a0Indeed,\u00a0they are looking at\u00a0using Block Chain to keep track of taxes and to enforce negative interest rates with cryptocurrencies which would allow them to impose negative interest rates whenever\u00a0necessary. With adopting cryptocurrencies that governments would […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[5496,23209,103,124,15611,418,431,434,5479,534,558,783],"class_list":["post-40937","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-armstrong-economics","tag-block-chain","tag-canada","tag-central-banks","tag-cryptocurrency","tag-imf","tag-interest-rates","tag-international-monetary-fund","tag-martin-armstrong","tag-monetary-policy","tag-negative-interest-rates","tag-taxes"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40937"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40937\/revisions"}],"predecessor-version":[{"id":40938,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40937\/revisions\/40938"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}