You are here
Bitcoin is a competitor for gold, not dollar, Fed chairman says
By Rocio Fabbro
Quartz, New York
Wednesday, December 4, 2024
While cryptocurrency fans like to float bitcoin as a possible replacement for the U.S. dollar, Federal Reserve Chairman Jerome Powell doesn't quite see it that way.
Speaking today at The New York Times DealBook Summit in Manhattan, the central banker said bitcoin is a speculative asset like gold rather than something comparable to a currency.
... Dispatch continues below ...
... ADVERTISEMENT ...
Cerro de Pasco's Assay Results at Quiulacocha
Indicate Consistency at Depth and Laterally
Company Announcement
Tuesday, December 3, 2024
MONTREAL -- Cerro de Pasco Resources Inc. (CSE: CDPR, OTCQB: GPPRF) reports that the 40-hole drill program at its Quiulacocha Tailings Project in central Peru has been successfully completed, providing more than 1,000 samples, of which 177 have been assayed to date, including the SPT04 drillhole released on October 15.
Key Highlights:
-- 177 assay samples from nine drill holes, equivalent to 15% of the current drill program, indicate an average silver grade of 1.72 ounces per tonne of silver (53.64 g/t), 37% higher than the average of shallow auger samples reported by Brophy (2012) in the north and central sections of the project. ...
... For the remainder of the announcement:
"It's just like gold only it's virtual," Powell said. "People are not using it as a form of payment or as a store of value. It's highly volatile. It's not a competitor for the dollar. It's really a competitor for gold." ...
... For the remainder of the report:
https://qz.com/bitcoin-gold-us-dollar-federal-reserve-chair-powell-1851713794
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
