Feb 25, 2023
Authored by Alasdair Macleod via GoldMoney.com, There has been much comment over the likelihood that central bank digital currencies will be introduced. I conclude they are unnecessary - a red herring. But it does allow us to discuss their possible relevance to a new Asian super-currency. Earlier this month, the Bank of England in partnership with the UK Treasury produced a white paper on the subject, which waters down the objectives identified by the Bank for International Settlements considerably. The British proposal is a bad idea because it is pointless and I explain why. This is a modal window. Beginning of dialog window. Escape will cancel and close the window. End of dialog window. In this article, I describe how a new gold-backed currency can do away with the US dollar for trade settlements and commodity purchases entirely between participating nations in the Russia China axis. Some informed commentary on the topic suggests that a blockchain will be involved, and Sberbank, the