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Latam Insights: Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating
8.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves...
Central Bank’s Gold Purchases Make ‘Record Breaking Start’ in Q1 2023; 228.4 Tonnes Added to World Reserves
8.5.2023
Central banks have continued to consistently purchase gold during the first quarter of 2023, according to the latest report of the World Gold Council (WGC), the global gold statistics organization. Central banks added nearly 230 tonnes of gold to their national reserves, representing a 176% rise...
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
7.5.2023
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin....
Texas House Advances Gold-Backed Digital Currency Bill
6.5.2023
Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would...
U.S. Regulatory Crackdown Sees Institutional Investors Prefer Gold to Bitcoin: JPMorgan
5.5.2023
This year’s 76% bitcoin rally appears to have been driven by retail buying, the report said
Zimbabwe sets price to sell gold-backed digital tokens
5.5.2023
Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates
Zimbabwe Central Bank Wants Citizens to Subscribe to Its Gold-Backed Digital Currency
5.5.2023
The Reserve Bank of Zimbabwe has said the tokens will be issued by May 8
Bitcoin eyes liquidity above $30K as gold hits new all-time high
4.5.2023
Bitcoin is back above $29,000 as the ongoing U.S. banking crisis sends spot gold higher than ever before
Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase
4.5.2023
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen...
Economist Peter Schiff Warns of Stagflation in US Economy — Says ‘It’s Going to Get Worse’
3.5.2023
Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S. Economy...
China Ramped Up Gold Production During Q1 Amidst Steady Demand From Central Banks
2.5.2023
Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak...
Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May
30.4.2023
The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital...
Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023
28.4.2023
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve...
Robert Kiyosaki Warns of Economic Chaos, War Breaking Out, Gold Crashing
28.4.2023
Rich Dad Poor Dad author Robert Kiyosaki has warned of economic chaos, a war breaking out, hyperinflation, and rising starvation. Commenting on de-dollarization on a “massive scale,” he stressed: “It’s a weaponization of our U.S. dollar against the world … It’s all coming down fast...
Google Trends Shows Surge in How to Buy Gold and Bitcoin Searches Amidst US Banking Upheaval
26.4.2023
In the midst of the banking upheaval in the United States, Google Trends has revealed a notable surge in searches related to the acquisition of gold, with the search query reaching a perfect score of 100 during the first week of April 2023. Similarly, the search term “how to...
Economist Peter Schiff Warns US Will Default on Its Debt — Raising Debt Ceiling Will Make Problem Worse
26.4.2023
Economist Peter Schiff has warned that the U.S. will default on its debt obligations. He further stressed: “All the bad stuff that they’re saying is going to happen if we don’t raise the debt ceiling is guaranteed to happen because we do raise the debt ceiling.” Peter Schiff on U.S. Debt Default...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Ron Paul on the Future of the US Dollar: ‘The World Is Clearly De-Dollarizing’
24.4.2023
Ron Paul, the former U.S. presidential candidate and former U.S. congressman, has stated that recent geopolitical events have caused nations to start ditching the U.S. dollar. Paul stated that the debasement of the currency, the manipulation of prices, and sanctions against other nations have made...
Zimbabwe's Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy
24.4.2023
The central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal ledger within the country.
The new currency will be used for transactions within the South African nation as part of its plans to stabilize the local currency, The Sunday Mail...
Zimbabwe to Introduce Gold-Backed Digital Currency: Report
24.4.2023
The country's central bank wants people to be able to exchange Zimbabwe dollars for the gold-backed token so they can hedge against the currency's volatility