The Art of Making CryptoCurrency
Peter Schiff has suggested that China resolve its trade deficit with the U.S. by dumping its U.S. Treasuries and dollars, then using the proceeds to buy gold to back a revalued yuan. Schiff: Dumping U.S. Debt Would Benefit Chinese Consumers Economist Peter Schiff has urged China to resolve its trade deficit with the United States […] Source link
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An idea to tokenize or track US gold reserves to make their movements transparent on a blockchain won’t work in the same trustless way as Bitcoin does, but doing so could help the cryptocurrency, says a research analyst. Greg Cipolaro, global head of research at New York Digital Investment Group (NYDIG), said in a March 21 note that Trump administration officials, including Elon Musk, have floated using a blockchain to track US gold and government spending — an idea supported by crypto executives. “Here’s the thing about blockchains. They’re not…
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On Tuesday, March 18, 2025, gold soared to an unprecedented zenith, breaching the $3,038-per-ounce threshold in spot trading—a historic pinnacle fueled by simmering global anxieties. Analysts attribute this rally to a confluence of destabilizing forces: escalating friction between Israel, Hezbollah, and Iran; strained U.S.-Iran diplomacy; recurrent Houthi maritime disruptions; and the reverberations of President Donald […] Source link
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Jan Nieuwenhuijs, an expert in gold markets, believes he has found evidence that Europe is preparing to adopt a new standard. He states that the recent movements of several Eastern European countries—purchasing or selling gold to reach a determined ratio—are part of the actions leading up to this development. Analyst: Countries in Europe Equilibrating Gold […] Source link
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Zimbabwean mining company, Kuvimba Mining House, has introduced a blockchain-based mine-to-market traceability system for its gold production in the country. This system ensures that all gold from Kuvimba is traceable from the mine to international markets. Kuvimba, the country’s largest gold producer, emphasizes transparency, legitimacy, and responsible mining. The Comstack system, utilizing blockchain technology, enhances […] Source link
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According to Wells Fargo estimations, U.S.-based retailer Costco runs a $200 million gold business monthly. Consumer trust in the organization and its aggressive pricing have made Costco’s one-ounce bars of 24-karat gold a popular choice for investors, who take advantage of 2% over market spot prices. Costco Might Be Selling $200 Million in Gold Every […] Source link
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Gold has played a vital role in economics and politics, influencing much of human financial activity through shifts in economic systems. It has proven versatile and stable across upheavals and social changes. It even became a vital tool in global trade and currency exchange as we know it today. In the 19th century, gold was the backbone of the global monetary system. Nations relied on the gold standard until the Great Depression and World War I. These events were significant inflationary catalysts, and economies, in a decades-long transition, abandoned the…
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Central banks have continued to consistently purchase gold during the first quarter of 2023, according to the latest report of the World Gold Council (WGC), the global gold statistics organization. Central banks added nearly 230 tonnes of gold to their national reserves, representing a 176% rise compared to the purchases made in Q1 2022. World Gold Council Registers Strong Gold Demand From Central Banks Central banks have registered a strong demand for gold during the first quarter of the year, according to the latest report of the World Gold Council…
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