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ECB Chief Christine Lagarde Praises Digital Euro While Rejecting Stablecoins

Today most of the leading central banks of the world are concerned about the efficiency of CBDCs for their countries. Several trials have been conducted in order to examine how effectively the Central Bank Digital Currency works and whether it will take..

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Today most of the leading central banks of the world are concerned about the efficiency of CBDCs for their countries. Several trials have been conducted in order to examine how effectively the Central Bank Digital Currency works and whether it will take part in the financial recovery after the pandemic lockdown. The idea of implementing citadel currencies was first introduced a year ago, back when nobody knew anything about deadly coronavirus and its impact. Now as the world has already seen the need to switch to the digital field in literally every sector, central banks are getting ready to develop CDBCS and integrate them into their national system with greater effort.

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Some countries have already finished conducting research about CDBCs. The results in each case turned out to be positive and looking at them the European Central Bank (ECB) is hopeful that the digital Euro will be successful as well. The chief of the ECB, Christine Lagarde recently announced that the EU countries are prepared for implementing the digital euro and the main reason for this is increased crypto interests. The central bank believes that they have the potential to overcome existing challenges and develop a proper atmosphere for creating a digital euro which is probably a lifetime event because there hasn’t been a case of digitizing this kind of big currency like the Euro. This is why the governments of Eu countries are concerned about the outcomes, but the ECB proves the opposite.

Lagarde discusses BTC-related risks

Recently Christine Lagarde, the president of the European Central Bank published an article where she states that the digital euro can actually help the EU to recover and gain benefits, while cryptocurrencies which have been in use for so long carry great risks. The whole report is about criticizing Bitcoin and other cryptocurrencies and discussing possible risks that are related to the use of cryptocurrencies that are owned privately. Obviously, Legarde is not really worried about the crypto-related risks. Everybody knows that using cryptocurrency is not without accompanying risks but people have been widely using these digital currencies because of related advantages and mainly because it’s a decentralized currency. Indeed, cryptos are not controlled by the central bank or any other authority and this is why they are the main opponents to compete with the digital euro which will be regulated by the central bank.

The decentralization of  Bitcoin and other cryptocurrencies is especially favorable for the online gaming industry participants. Cryptos give them opportunities to place bets while playing online games without worrying about their security and anonymity. Although in some countries using cryptos is still not licensed, central banks lack the power to detect the personal information of these players. Therefore, the popularity of bets on online games with cryptocurrencies is usually the main driver for politicians to hate on it. It’s especially the case with eSports. For years cryptocurrency wasn’t used in the eSports industry but now many eSports platforms tend to accept Bitcoin. The central bank believes that those platforms encourage players to switch to cryptos and this is why they want to reduce the use of crypto in order to make CBDCs look more convenient for eSports users and everyone who takes part in the online gaming industry.

Do stablecoins really pose a risk?

Christine Legarde tried to outline that using cryptos is not really convenient for its users in this article as she publicly referred to the downsides of cryptocurrencies. She stated that people can’t rely on crypto as it’s a volatile currency in nature and can’t maintain a stable value over time. However, this is not something new for Bitcoin users. Everybody knows that Bitcoin is one of the most volatile currencies and some people even make use of its volatility. It seems that the ECB chief also decided to attack technology giants because in this report she also targeted global stablecoins that are supported by big tech companies.

Specifically, she explained the disadvantages of Libra. It’s a blockchain-based payment system created by social media giant Facebook. This new stablecoin is still at the stage of examination and will be launched in January. But now Legarde tries to release every single opponent of the digital Euro and that’s exactly why she pointed out that stablecoins pose serious risks to the technological independence of the EU region. She believes that the main subjects of concern are data privacy and misuse of people’s personal information by these big technology companies. On the macro level, what she means is that if these stablecoins will be widely implemented, the financial stability of the whole of Europe will be threatened. Besides, probably it could trigger a big shift of bank deposits to stablecoins in case they will be used as a store of value and this will indeed have a negative impact on the operations and monetary policy of the central bank.

What does the digital euro mean for Europe?

Nobody has seen such a huge change in the financial sector of Europe as it will be implementing digital currency. A digital euro will be an electronic form of the national currency governed by the central bank. Nowadays switching to digital currency and making it accessible for all citizens is really important, considering today’s challenges. Even though the digital euro is closely related to cryptocurrency as both are digital currency forms, unlike cryptos, the ECB president expresses optimism about CBDCs.

As she says digital euro will be a completely unique form of currency that will meet the demands of digital payments. The Digital euro will give the private sector opportunities to develop new businesses that would be based on digital euro services. Another reason why introducing digital euro is important for the EU countries is that it can be a symbol of the ongoing process of the European integration process and will take part in the unifying digital economies of the European countries.

Finally, we can say that the ECB has made great progress in the process of launching the digital euro. Currently, the examination by conducting CBDC trials continues but as Legarde said in November, probably the digital euro will be launched in the next two or three years and this will be the time when the EU starts thinking about making its financial sector fully digitalized.

The post ECB Chief Christine Lagarde Praises Digital Euro While Rejecting Stablecoins appeared first on ValueWalk.

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Mike Pompeo Doesn’t Rule Out Serving In 2nd Trump Administration

Mike Pompeo Doesn’t Rule Out Serving In 2nd Trump Administration

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Former Secretary…

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Mike Pompeo Doesn't Rule Out Serving In 2nd Trump Administration

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Former Secretary of State Mike Pompeo said in a new interview that he’s not ruling out accepting a White House position if former President Donald Trump is reelected in November.

“If I get a chance to serve and think that I can make a difference ... I’m almost certainly going to say yes to that opportunity to try and deliver on behalf of the American people,” he told Fox News, when asked during a interview if he would work for President Trump again.

I’m confident President Trump will be looking for people who will faithfully execute what it is he asked them to do,” Mr. Pompeo said during the interview, which aired on March 8. “I think as a president, you should always want that from everyone.”

Then-President Donald Trump (C), then- Secretary of State Mike Pompeo (L), and then-Vice President Mike Pence, take a question during the daily briefing on the novel coronavirus at the White House in Washington on April 8, 2020. (Mandel Ngan/AFP via Getty Images)

He said that as a former secretary of state, “I certainly wanted my team to do what I was asking them to do and was enormously frustrated when I found that I couldn’t get them to do that.”

Mr. Pompeo, a former U.S. representative from Kansas, served as Central Intelligence Agency (CIA) director in the Trump administration from 2017 to 2018 before he was secretary of state from 2018 to 2021. After he left office, there was speculation that he could mount a Republican presidential bid in 2024, but announced that he wouldn’t be running.

President Trump hasn’t publicly commented about Mr. Pompeo’s remarks.

In 2023, amid speculation that he would make a run for the White House, Mr. Pompeo took a swipe at his former boss, telling Fox News at the time that “the Trump administration spent $6 trillion more than it took in, adding to the deficit.”

“That’s never the right direction for the country,” he said.

In a public appearance last year, Mr. Pompeo also appeared to take a shot at the 45th president by criticizing “celebrity leaders” when urging GOP voters to choose ahead of the 2024 election.

2024 Race

Mr. Pompeo’s interview comes as the former president was named the “presumptive nominee” by the Republican National Committee (RNC) last week after his last major Republican challenger, former South Carolina Gov. Nikki Haley, dropped out of the 2024 race after failing to secure enough delegates. President Trump won 14 out of 15 states on Super Tuesday, with only Vermont—which notably has an open primary—going for Ms. Haley, who served as President Trump’s U.S. ambassador to the United Nations.

On March 8, the RNC held a meeting in Houston during which committee members voted in favor of President Trump’s nomination.

“Congratulations to President Donald J. Trump on his huge primary victory!” the organization said in a statement last week. “I’d also like to congratulate Nikki Haley for running a hard-fought campaign and becoming the first woman to win a Republican presidential contest.”

Earlier this year, the former president criticized the idea of being named the presumptive nominee after reports suggested that the RNC would do so before the Super Tuesday contests and while Ms. Haley was still in the race.

Also on March 8, the RNC voted to name Trump-endorsed officials to head the organization. Michael Whatley, a North Carolina Republican, was elected the party’s new national chairman in a vote in Houston, and Lara Trump, the former president’s daughter-in-law, was voted in as co-chair.

“The RNC is going to be the vanguard of a movement that will work tirelessly every single day to elect our nominee, Donald J. Trump, as the 47th President of the United States,” Mr. Whatley told RNC members in a speech after being elected, replacing former chair Ronna McDaniel. Ms. Trump is expected to focus largely on fundraising and media appearances.

President Trump hasn’t signaled whom he would appoint to various federal agencies if he’s reelected in November. He also hasn’t said who his pick for a running mate would be, but has offered several suggestions in recent interviews.

In various interviews, the former president has mentioned Sen. Tim Scott (R-S.C.), Texas Gov. Greg Abbott, Rep. Elise Stefanik (R-N.Y.), Vivek Ramaswamy, Florida Gov. Ron DeSantis, and South Dakota Gov. Kristi Noem, among others.

Tyler Durden Wed, 03/13/2024 - 17:00

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International

Riley Gaines Explains How Women’s Sports Are Rigged To Promote The Trans Agenda

Riley Gaines Explains How Women’s Sports Are Rigged To Promote The Trans Agenda

Is there a light forming when it comes to the long, dark and…

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Riley Gaines Explains How Women's Sports Are Rigged To Promote The Trans Agenda

Is there a light forming when it comes to the long, dark and bewildering tunnel of social justice cultism?  Global events have been so frenetic that many people might not remember, but only a couple years ago Big Tech companies and numerous governments were openly aligned in favor of mass censorship.  Not just to prevent the public from investigating the facts surrounding the pandemic farce, but to silence anyone questioning the validity of woke concepts like trans ideology. 

From 2020-2022 was the closest the west has come in a long time to a complete erasure of freedom of speech.  Even today there are still countries and Europe and places like Canada or Australia that are charging forward with draconian speech laws.  The phrase "radical speech" is starting to circulate within pro-censorship circles in reference to any platform where people are allowed to talk critically.  What is radical speech?  Basically, it's any discussion that runs contrary to the beliefs of the political left.

Open hatred of moderate or conservative ideals is perfectly acceptable, but don't ever shine a negative light on woke activism, or you might be a terrorist.

Riley Gaines has experienced this double standard first hand.  She was even assaulted and taken hostage at an event in 2023 at San Francisco State University when leftists protester tried to trap her in a room and demanded she "pay them to let her go."  Campus police allegedly witnessed the incident but charges were never filed and surveillance footage from the college was never released.  

It's probably the last thing a champion female swimmer ever expects, but her head-on collision with the trans movement and the institutional conspiracy to push it on the public forced her to become a counter-culture voice of reason rather than just an athlete.

For years the independent media argued that no matter how much we expose the insanity of men posing as women to compete and dominate women's sports, nothing will really change until the real female athletes speak up and fight back.  Riley Gaines and those like her represent that necessary rebellion and a desperately needed return to common sense and reason.

In a recent interview on the Joe Rogan Podcast, Gaines related some interesting information on the inner workings of the NCAA and the subversive schemes surrounding trans athletes.  Not only were women participants essentially strong-armed by colleges and officials into quietly going along with the program, there was also a concerted propaganda effort.  Competition ceremonies were rigged as vehicles for promoting trans athletes over everyone else. 

The bottom line?  The competitions didn't matter.  The real women and their achievements didn't matter.  The only thing that mattered to officials were the photo ops; dudes pretending to be chicks posing with awards for the gushing corporate media.  The agenda took precedence.

Lia Thomas, formerly known as William Thomas, was more than an activist invading female sports, he was also apparently a science project fostered and protected by the athletic establishment.  It's important to understand that the political left does not care about female athletes.  They do not care about women's sports.  They don't care about the integrity of the environments they co-opt.  Their only goal is to identify viable platforms with social impact and take control of them.  Women's sports are seen as a vehicle for public indoctrination, nothing more.

The reasons why they covet women's sports are varied, but a primary motive is the desire to assert the fallacy that men and women are "the same" psychologically as well as physically.  They want the deconstruction of biological sex and identity as nothing more than "social constructs" subject to personal preference.  If they can destroy what it means to be a man or a woman, they can destroy the very foundations of relationships, families and even procreation.  

For now it seems as though the trans agenda is hitting a wall with much of the public aware of it and less afraid to criticize it.  Social media companies might be able to silence some people, but they can't silence everyone.  However, there is still a significant threat as the movement continues to target children through the public education system and women's sports are not out of the woods yet.   

The ultimate solution is for women athletes around the world to organize and widely refuse to participate in any competitions in which biological men are allowed.  The only way to save women's sports is for women to be willing to end them, at least until institutions that put doctrine ahead of logic are made irrelevant.          

Tyler Durden Wed, 03/13/2024 - 17:20

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Part 1: Current State of the Housing Market; Overview for mid-March 2024

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024
A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to star…

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Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024

A brief excerpt:
This 2-part overview for mid-March provides a snapshot of the current housing market.

I always like to start with inventory, since inventory usually tells the tale!
...
Here is a graph of new listing from Realtor.com’s February 2024 Monthly Housing Market Trends Report showing new listings were up 11.3% year-over-year in February. This is still well below pre-pandemic levels. From Realtor.com:

However, providing a boost to overall inventory, sellers turned out in higher numbers this February as newly listed homes were 11.3% above last year’s levels. This marked the fourth month of increasing listing activity after a 17-month streak of decline.
Note the seasonality for new listings. December and January are seasonally the weakest months of the year for new listings, followed by February and November. New listings will be up year-over-year in 2024, but we will have to wait for the March and April data to see how close new listings are to normal levels.

There are always people that need to sell due to the so-called 3 D’s: Death, Divorce, and Disease. Also, in certain times, some homeowners will need to sell due to unemployment or excessive debt (neither is much of an issue right now).

And there are homeowners who want to sell for a number of reasons: upsizing (more babies), downsizing, moving for a new job, or moving to a nicer home or location (move-up buyers). It is some of the “want to sell” group that has been locked in with the golden handcuffs over the last couple of years, since it is financially difficult to move when your current mortgage rate is around 3%, and your new mortgage rate will be in the 6 1/2% to 7% range.

But time is a factor for this “want to sell” group, and eventually some of them will take the plunge. That is probably why we are seeing more new listings now.
There is much more in the article.

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