What is fiat money? It comes from "fiat," which means a formal authorization or proposition or a decree. Synonyms are these: edict, order, command, commandment, injunction, proclamation, mandate, dictum, diktat. It is an arbitrary order.
On February 21, 2016, the Bank of England reported that it had partnered with researchers at University College in London to produce RSCoin, a digital currency designed for central bankers.
Money seldom fails, but occasionally, it does. It failed in Germany and Austria 1921-23. It failed in Hungary after World War II. It failed in Zimbabwe in 2008-9, when the rest of the world was in a recession.
A battle is underway about the limits of cryptography. On the one side are people who want to break into iPhones, tap into conversations and decrypt our backups.
The yen is on a roll. After starting the year at about 120 per dollar, the Japanese currency surged as high as 107.63 early on Monday to its strongest level since October 2014, when the central bank unexpectedly boosted quantitative easing.
Starting this summer, the government will test a system in which foreign tourists will be able to verify their identities and buy things at stores using only their fingerprints.
Starting this summer, the government will test a system in which foreign tourists will be able to verify their identities and buy things at stores using only their fingerprints.
Some politicians want to ban cash, arguing that cash is helping criminals. The first steps in that direction are the withdrawal of big denomination notes and the limits imposed on cash payments.
Almost two years ago, a group of Bitcoin developers, including Amir Taaki, developed an early prototype of a decentralized marketplace during the Toronto Bitcoin Expo Hackathon.
This is a guest post by Sunil Aggarwal. He runs an online learning solutions company, Theory Frames, and has taught about Bitcoin and blockchain at the National Academy of Legal Studies and Research in Hyderabad, India.
Gold's main use, contrary to the belief of some, isn't in jewelry or dentistry--although those uses are important. Its main use has almost always been as money. But gold's ancillary uses are growing in importance because, given its physical ch
Israel is a well educated middle-eastern country with a population of only 8.4 Million and GDP of almost US$300 Billion, of which their technology sector accounts for 15.7%.
Founded by a group of U.S. Army officers in 1922, the United Services Automobile Association (USAA) now has over 23,400 employees in offices throughout the country, and assets of over US$70 Billion in 2015.
Computer scientists have devised a digital crypto-currency in league with the Bank of England that could pose a devastating threat to large tranches of the financial industry, and profoundly change the management of monetary policy.
We've entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
The Russian Finance Ministry has reportedly tightened its proposed penalties for the issuance of so-called money surrogates including digital currencies.
TMX Group, the operator of the Toronto Stock Exchange (TSX), has taken its first step toward investigating blockchain technology by appointing Anthony Di Iorio as its first chief digital officer.
The global war on cash is exacerbated by negative interest rates imposed by central bankers, which drives cash out of banks. Central and global banks are calling for a cashless society, which would give them complete control over the economic system
A cashless society would pave the way for a common energy-based currency that would complete the transition to a Technocracy economic system. In addition, it would forcefully incorporate all those who are currently not in the banking system, such as
There is obviously not uniform acceptance of the proposed cashless society, as proven by the Greek experiment. Whether this was an error in strategy of bad timing, the technocratic bankers will learn from the experience and not make the same mistakes
Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothet
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