The coming currency war: Digital money vs. the dollar

Section:

By Dave Michaels and Paul Vigna
The Wall Street Journal
Sunday, September 22, 2019

The future of money might be a digital version of the cash that's already in people’s wallets -- potentially upending the currency system that the world has known for many decades.

Such a future, of course, might be a disappointment to many libertarians and tech-savvy investors who are pinning their hopes (and in some cases their money) on private cryptocurrencies such as bitcoin.

... Dispatch continues below ...


ADVERTISEMENT

Crystal Lake Intersects 15.11 g/t Gold over 8 Meters
at Newmont Lake Project in British Columbia

Company Announcement
Wednesday, September 18, 2019

VANCOUVER, British Columbia, Canada -- Crystal Lake Mining Corp. (TSXV: CLM, OTC: SIOCF, FSE: SOG-FF) announces the intersection of shallow high-grade gold mineralization at the company's Newmont Lake gold corridor. The new results are crucial as they provide evidence of a thick unit of unusually high-grade gold mineralization within a broad envelop of continuous low-grade gold mineralization.

This discovery demonstrates that the mineral zone actually increases in width and in grade where previous models indicate a narrowing of the mineral zone. Additionally, a second deeper horizon has been intersected in an area without gold mineralization in previous models, adding to the exploration potential of the Newmont Lake gold corridor, located along the western flank of the Eskay Rift in northwest British Columbia.

The first diamond drill core assay results from ongoing drilling at the northwest zone underscore the potential for higher grades and increased continuity of grade that can result in significant expansion of the historic mineralization while new high-grade domains are targeted elsewhere along the gold-bearing McLymont Fault and numerous associated splay faults. ...

... For the remainder of the announcement ...

https://crystallakemining.com/crystal-lake-intersects-15-11-g-t-gold-ove...



Instead, central bankers and governments -- the entities that cryptocurrencies' backers hoped to render obsolete -- are increasingly warming to the idea of "digitizing" their own national currencies. That is, they would issue money that would exist only virtually, without a paper or coin equivalent, and be universally accepted as a form of payment. ...

"No central bank wants the currency to be something it doesn't control," says Jeremy Stein, a Harvard University economics professor who served as a Fed governor from 2012 to 2014. "In the extreme, if everything in the world is priced in Libra and not in dollars, the U.S. cannot set monetary policy -- because setting interest rates in dollars, who cares?" ...

... For the remainder of the report:

https://www.wsj.com/articles/the-coming-currency-war-digital-money-vs-th...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/noic-promo/powellgata/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16