Archive for April 2022
Legislation calls for Treasury to develop electronic dollar
Legislation has been introduced in the House of Representatives seeking “to direct the Secretary of the Treasury to develop and pilot digital dollar technologies that replicate the privacy-respecting features of physical cash.” H.R. 7231 — cited as the Electronic Currency and Secure Hardware Act or simply the ECASH Act — was introduced March 28 by…Read More
Gold Is Heading Higher as Inflation Rages. Why the Next Stop Could Be $3,000 an Ounce.
Gold bugs have been a lonely bunch, but that may be starting to change. In the past week, gold made another run at $2,000 a troy ounce, a level above which it has closed only once, back in August 2020. The price then retreated—bullion was trading around $1,935 an ounce on Friday—making the run-up easy…Read More
Inflation rises by the most since 1981 as CPI jumps 8.5% in March
U.S. consumer price increases quickened in March, underscoring ongoing inflationary pressures as supply chain disruptions and shortages lingered across the economy. The Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) rose 8.5% in March compared to the same month last year, according to the latest report released Tuesday. That marked the fastest rise since…Read More
Is the US Dollar Under Attack?
Can the new China–Russia alliance destabilize the post-World War II order led by the United States? Potential efforts to assist Russia to sell its oil and dodge Western sanctions have prompted fears about the survival of the global economic order. Some wonder if China and Russia’s continuous de-dollarization drive will expand, putting the U.S. dollar’s hegemony in the global…Read More