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Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption

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The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency. The peso, which is officially pegged at 72 for every USD, touched new lows of 145 to the greenback on the black market. The latest plunge is seen as a … Read more

The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

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Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, has … Read more

ECB Nominee Blames Resistance to Negative Rates on Financial Illiteracy

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European Central Bank (ECB) executive board nominee and member of the German Council of Economic Experts, Isabel Schnabel, recently remarked at a European Parliament hearing that “This scapegoating [of the ECB] is extremely dangerous: it may damage the trust in the euro.” Schnabel was speaking out in defense of negative deposit rates being employed as … Read more

Initiative to Curtail Negative Interest Rates Gains Traction in Germany

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Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions have been increasingly transferring the bulk of the burden on to their customers. Some political factions in Germany, however, aren’t happy with the trend and are pushing for adequate protection for the ordinary small saver, … Read more

The Fed’s Low Interest Rates and QE Have Created a Dependent Generation

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On March 20, the Federal Reserve’s Open Market Committee (FOMC) unanimously decided to keep federal interest rates unchanged. Critics believe that the central bank’s policy of near-zero interest rates and quantitative easing (QE) has corrupted the U.S. economy for nearly a decade and spawned a generation of socialists. Also read: Bitcoin and the Agora: Every … Read more