Earlier this week, JP Morgan released a report stating that the launch of central bank digital currencies (CBDCs)—digital versions of the dollar, euro, yen, etc. based on the same technology as bitcoin—could save commercial banks $120 billion every year. When something can save banks that much money, you can be pretty sure it’s going to [Read More] …
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Robots Are Going to Make All Your Burgers (and Possibly Ignite a Revolution)
Some years ago, I stepped into a McDonalds somewhere in the center of Madrid, craving a double cheeseburger and a Coke Zero. Let’s call it 2013 or thereabouts. I was not expecting what I found. No cashier/order-taker was waiting behind a counter. Throughout the entry area, there was a bank of self-service video screens—Spanish and English—on which to build your order. (They’re [Read More] …
Weekly Digest: Is China Backtracking on its Bitcoin Mining Ban?
Plus, Your Heating Bills Might Soar by 30% This Winter Welcome to your Sunday digest…my weekly breakdown of the things we’re thinking about and talking about in the Global Intelligence world. First up this week, does China regret banning crypto mining? Recently, the National Development and Reform Commission—China’s top economic planning organization—launched a survey asking the Chinese public for their [Read More] …
The Dollar’s Days Could Be Numbered…
A New Currency System Is Emerging for Global Trade Kmart was a very big part of my childhood. When summertime rolled around, I and my friends in the neighborhood would hop on our bikes and ride 10 minutes or so down College Blvd., and wander through Kmart, looking for the things we needed for whatever we [Read More] …
Is Hyperinflation Coming to America? Janet Yellen Seems to Think So
And now…this: Treasury Secretary Janet Yellen was recently chin-wagging with some international banking boss-men and proffered this headscratcher, per Bloomberg and others: “The biggest surprise in the U.S. economy this year has been inflation. Inflation readings over the past several months have been surprisingly soft.” Surprisingly soft? Your Honor, the people would like to offer up Exhibit 1 as evidence: As one can plainly see, Judge, the witness is gaslighting [Read More] …