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Thousands protest in El Salvador after bitcoin made official currency

[New York Post, EPA] Thousands of protesters took to the streets in El Salvador a week after the Central American nation became the first in the world to adopt bitcoin as its legal currency alongside the US dollar. Most marchers in El Salvador’s capital of San Salvador were peaceful, but some smashed and torched at least one […]

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Central banks are headed toward digital currencies

[Axios] The U.S. is starting a national conversation arounda central bank digital currency (CBDC). Why it matters: Several other countries have already experimented with or released early versions of CBDCs. Such a pivot could aid underbanked populations, and help make banking and monetary policy more efficient. Driving the news: The Senate Banking Committee held a hearing on CBDC Wednesday, […]

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Rare ‘Double Eagle’ gold coin sells for a record $18.9M

[CNN, Sotheby’s] One of the last gold coins ever struck for circulation in the US sold for a record $18.9 million in New York on Tuesday.The exceptionally rare 1933 “Double Eagle” is now the most valuable coin ever to appear at auction, almost doubling the previous world record, according to Sotheby’s, which organized the sale. […]

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El Salvador looks to become the world’s first country to adopt bitcoin as legal tender

[CNBC | Bloomberg | Getty Images] El Salvador President Nayib Bukele plans to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender.Bukele broadcast his intentions on a video at the Bitcoin 2021 conference in Miami.Bukele said the country is partnering with digital wallet company, Strike, to build […]

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Canadians still holding on to old $1 or $2 bills have until midnight to spend them

[The Canadian Press, Post Media] Some bank notes made between 1935 and 1986 will lose the government’s legal tender status Spend ‘em while they’re still worth something. Canadians still holding on to old paper money have until midnight tonight to spend it, as stores will stop accepting certain denominations after the new year. Some bank […]

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China is snapping up Japanese government bonds, and it’s not just for the returns

[CNBC, GETTY IMAGES] China bought 1.46 trillion yen ($13.8 billion) in medium to long-term Japanese government bonds on a net basis between April and July. That was 3.6 times more than the same period last year.In the same period, the U.S. increased its purchases by only 30%, in comparison. Europe, meanwhile, sold off 3 trillion […]

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Cuba prepares for ‘profound transformation’ of its monetary system, urges calm

[NBC NEWS, REUTERS] President Miguel Díaz-Canel said last week the country would end up with a single currency and exchange rate with the dollar, but did not specify a rate or the date of devaluation. HAVANA—Cuba’s economy minister has urged calm as the government prepares to unify its dual currency system and multiple exchange rates […]

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Doug Casey and Rick Rule Forecast Future of The World Economy

[KITCO NEWS] This year, the global economy has contracted at a pace previously unseen. However, the crisis this year was only the trigger for what would otherwise have been an inevitable collapse in our economy. Doug Casey, founder of Casey Research, and Rick Rule, president of Sprott U.S., discussed with Kitco News the underlying fundamental […]

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Silver: poor man’s gold no more?

Prices for the metal trade 25% higher for July Investors have focused on a rise in record prices for gold, but silver’s up about 25% in July—the metal’s second-biggest monthly gain on record—and it’s still undervalued compared with the yellow metal. “Silver is often called the ‘poor man’s gold’ because some of the same factors […]

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Dogecoin Volumes Spike 1,900% in 2 Days Amid Viral TikTok Videos

[Coindesk] Social media has thrown dogecoin traders a treat. Trading volumes for the Shiba Inu meme-based cryptocurrency spiked nearly 2,000% in the last two days as videos on TikTok encouraged users to invest, according to data from Messari. The whimsical asset’s price climbed 35% to $0.035 over the same period.  Dogecoin—which was conceived as a tongue-in-cheek riposte to Bitcoin—has seen […]

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