It certainly appears that central bank controlled digital currency is gaining even more popularity.
These “Fedcoins,” according to The Economist, “are a new incarnation of money. They promise to make finance work better but also to shift power from individuals to the state, alter geopolitics and change how capital is allocated.”
The same piece also reveals the increased level of support for digital money: “Over 50 monetary authorities, representing the bulk of global GDP, are exploring digital currencies.”
But perhaps more importantly, “Fedcoins” could signal the beginning of an abandonment of the U.S. dollar, as The Economist highlights:
They could alter geopolitics, too, by providing a conduit for cross-border payments and alternatives to the dollar, the world’s reserve currency and a linchpin of American influence.
The dollar is still weakening, inflation keeps rising, and now the trade deficit is surging to record levels (again).
Perhaps market fundamentals are beginning to overtake media hype. If that’s what is happening, this “trifecta” of economic signals could make saving for retirement even more of a challenge in 2021.
Coming in third place: record-shattering trade deficit
To examine why this “trifecta” could do that, let’s start with the
record trade deficit.
The balance of trade measures the dollars America sends overseas to pay for foreign goods and services, compared to the dollars flowing into America in exchange for U.S. goods and services.
You might think a gift card should be something you just can’t put a negative spin on. While the recipient might not always be perfectly content with the available choice of the store or what can be purchased, gift cards have long served as a ubiquitous token of appreciation. They’re given out of kindness (or kindness mixed with a bit of promotion). Gift cards are a way for aunts and uncles to acknowledge nieces and nephews during holidays, shorthand for, “I don’t quite know what you want so find yourself something you’ll like.” Employers use gift cards because, according to research, employees think gift cards have a higher perceived value than an equivalent cash bonus.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Silver demand to climb to a six-year high, what India’s massive gold import figures for March tell us about Asian gold demand, and a stash of antique coins in New England sheds light on a famous historical figure.
Silver Institute: Silver demand will climb to its highest since 2015 this year
In a joint report published on Thursday, The Silver Institute and precious metals consultancy Metals Focus said that silver demand this year should climb to its highest level since 2015. The report comes after investors brought silver prices to a seven-year high last year in a rush to safety even as the manufacturing sector slumped.