Article: South Korea Changes Course and Begins Investigating CBDCs

Article - Media

South Korea Changes Course and Begins Investigating CBDCs

John Anlyt, 13 June 2021

The central bank of South Korea (BOK) announced this week the launch of a second specialist team to supposedly develop a digital currency central bank (CBDC) a year after dissolving their first group of researchers.

The entity said it will rededicate itself to studying everything related to the creation and implementation of a CBDC, and the formation of the new research group appears to be a direct response to China’s plans to issue a digital yuan.

The announcement surprised the crypto ecosystem as it signifies a turnaround in South Korea . A little less than a year ago, the BOK stated that there was almost no possibility of a CBDC in the country, which is why the cryptocurrency and digital currency research task force was dissolved .

The beginning of 2020, with China’s firm decision to launch its own CBDC, caused the BOK to change its stance on the issue and claim that it is now ” in the process of investigating ” the possible issuance of its digital currency.

The BOK clarified that its team of researchers will be small, with an initial appointment of eight members specialized in areas as varied as IT, human resources, economics and management.

Popular exchange LocalBitcoins has been suspending user accounts in some countries in Africa, the Middle East and Asia without notice . As reported by Forbes these weeks, some users can no longer withdraw their bitcoins from the platform, who only communicated that it is due to a “process of improvements.”

The exchange made no further public comment on the matter. The first complaints began to be noticed last week , when LocalBitcoins users in countries such as Afghanistan, Iraq, Nigeria, Syria and Pakistan expressed that they could not withdraw their Bitcoins without deleting their accounts.

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Chris Hedges: Don’t Be Fooled By Joe Biden

Article - Media, Publications

Chris Hedges: Don’t Be Fooled By Joe Biden

Don’t be fooled by Joe Biden. He knows his infrastructure and education bills have as much chance at becoming law as the $15-dollar minimum wage or the $2,000 stimulus checks he promised us as a candidate. He knows his American Jobs Plan will never create “millions of good paying jobs – jobs Americans can raise their families on” any more than NAFTA, which he supported, would, as was also promised, create millions of good paying jobs. His mantra of “buy American” is worthless. He knows the vast majority of our consumer electronics, apparel, furniture and industrial supplies are made in China by workers who earn an average of one or two dollars an hour and lack unions and basic labor rights. He knows his call to lower deductibles and prescription drug costs in the Affordable Care Act will never be permitted by the corporations that profit from health care. He knows the corporate donors that fund the Democratic Party will ensure their lobbyists will continue to write Continue reading “Chris Hedges: Don’t Be Fooled By Joe Biden”

Article: The Fall Of Turkey, The Rise Of Bitcoin

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The Fall Of Turkey, The Rise Of Bitcoin

TYLER DURDEN, 26 April 2021

It never ceases to amaze me how tone deaf those with power are.

Turkish President Recep Tayyip Erdogan is in serious trouble for the first time in his political career. He’s a man staring at a massive electoral problem coming this fall.

Erdogan is currently presiding over an economy in complete freefall. With recent reports of food riots over government handouts of potatoes and onions the news only seems to be getting worse there on the eve of national elections. Continue reading “Article: The Fall Of Turkey, The Rise Of Bitcoin”