Skip to main content

Hawk or dove? Bitcoin is forcing central banks to take sides

By
A few days ago, President Nicolás Maduro of Venezuela announced that his government had launched the petro, a new state-sponsored cryptocurrency. He claimed that $735m (£529m) worth of the new currency had already been sold, though observers are sceptical, unless state entities have been obliged to buy them. Even they will find it hard to do so, however, as the technology platform on which the petro will be traded has not yet been confirmed.International demand for the petro will not be helped by recent pronouncements from Warren Buffett and Charlie Munger, the “sages of Omaha” who still control Berkshire Hathaway. Speaking of cryptocurrencies in general, Buffett was scathing. “I can say almost with certainty that they will come to a bad end,” he declared in January, while noting for good measure that he would be glad to buy put options on every one of them. Munger is, if anything, even more hostile, characterising bitcoin in particular as “totally asinine” and a “noxious poison”. Not much room for doubt there.

They are, of course, looking at bitcoin as a potential investment. The public authorities have slightly different concerns. Market regulators are interested in protecting investors, and have begun to issue warnings. Although these warnings have been sotto voce so far, I expect they will rise in volume soon as the price gyrations continue. They should also be worried about the opportunities created for money launderers and for trade in illicit drugs.


Source :- theguardian
Labels:

Comments

Post a Comment

Popular posts from this blog

Legal Protection for Foreign Direct Investments

By
  homepage    For solid and consistent in progression of Foreign Direct Investments (FDIs) to Nigeria, the nation has throughout the long term set up cordial lawful system for Foreign Direct Investments (FDIs) insurance.  In this Foreign Investors' Guidelines for Doing Business in Nigeria Series, we will inspect the lawful systems set up to support an expanding FDIs inflow and guaranteeing unfamiliar financial backers' trust in the country.  here We will examine unfamiliar financial backers' securities going from assurance of arbitral procedures and other debate goal systems in the country.  The reality with present day financial frameworks is that no nation can be an island monetarily; Foreign Direct Investment (FDI) security is extremely vital for the effective achievement of unfamiliar financial backers' business objective(s) and monetary advancement of any economy.   redstateinvesting There are steps that have nations can legitimately take in ...
Post a Comment
Read more

From shark attack survivor to para-snowboarder: the Sean Pollard story

By
Paralympians enter their chosen sport for all sorts of reasons – whether they have experienced a life-long disability or had a life-changing illness or event – but few have a back-story as dramatic as Australian para-snowboarder Sean Pollard. Pollard’s life was changed in just a couple of minutes when he was attacked by two Great White sharks while surfing in Esperance in October 2014, losing his left arm and his right hand in his struggle to escape. In the aftermath of the attack he needed seven blood transfusions amounting to three litres of blood. “I was pretty lucky to get to hospital within an hour of the attack” he recalls. It took over 150 stitches to close the wounds that had threatened his life, and he spent weeks in hospital. Source :- theguardian
Post a Comment
Read more

Hillsborough relatives 'disgusted' by CPS decision over West Midlands police

By
Relatives of the 96 people killed at Hillsborough in 1989 have severely criticised a decision by the Crown Prosecution Service not to charge any former West Midlands police officers with criminal offences relating to the force’s original investigation into the disaster. Margaret Aspinall, the chair of the Hillsborough Family Support Group whose 18-year-old-son James was killed in the disaster, said she was disgusted. She also criticised the CPS for failing to properly explain its decisions and the evidential threshold required to bring criminal charges. Two former West Midlands police officers, who have not been named, were referred by the Independent Office for Police Conduct to the CPS for consideration of possible charges of perverting the course of justice, misconduct in a public office, or conspiracy to do so. Bereaved families and survivors of the lethal crush at the 1989 FA Cup semi-final at Hillsborough, where South Yorkshire police was responsible for safety, have long protest...
Post a Comment
Read more