Fieler pointed to the IMF’s ominous forecasts over how a debt crisis “isn’t here yet” earlier in the summer. As we know, the Federal Reserve has been attempting and failing to combat inflation by raising interest rates. It’s a course of action other central banks are taking, as well.
One of the arrogances of “Western” nations is that our way of life and our liberties are protected by periodic elections as required by constitutions, written (America) or not (Great Britain), containing bills of rights, etc. The people rule, it is claimed, and we get exactly what we want, even if those in the minority are unhappy with the result.
The dollar index vaulted to a 20-year high on Thursday, and notched a 24-year peak against the rate-sensitive Japanese yen, after U.S. data showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation.
Money isn’t paper and coins any more. It’s increasingly digital – and a growing number of central banks are considering issuing their own digital currencies. Australia is the latest country to trial a central bank digital currency (CBDC). Its central bank, the Reserve Bank of Australia, said the project would explore the potential economic benefits of introducing a CBDC. The project will also look at how a digital currency from Australia’s central bank could be used to provide “innovative and value-added” ways for homes and businesses to make payments and transfer funds.