10/15/2021 - Intel Drop Update #8 (Global Financial Collapse Crisis)

[xotrevor]

Israel Issues Warning to Economy After Hospital Cyber Attack – Bloomberg: https://www.bloomberg.com/news/articles ... ber-attack

Cryptocurrencies such as #Bitcoin could trigger a “financial meltdown unless governments step forward with tough regulations,” warns Bank of England deputy Sir Jon Cunliffe (Guardian)

Turkey: Erdogan removes 3 top names from the central bank via decree. Turkey’s lira drops to a new record low.

China Evergrande Crisis: https://www.scmp.com/business/china-bus ... ure-social

Putin: US is killing dollar as reserve currency by weaponizing sanctions & uncontrolled money printing. “It seems to me that the United States is making a very big mistake by using the dollar as a sanctions instrument… by preventing payment in dollars for the sanctioned products,” Putin told CNBC’s Hadley Gamble during Russian Energy Week. Countries facing US penalties, like Russia, “have no other choice, we are simply forced to switch to settlements in other currencies,” he added. Gamble had asked about the possibility of using cryptocurrencies such as Bitcoin to sell oil and gas, something Putin welcomed in principle but said it was “too early,” citing crypto’s volatility. Russia is happy to use dollars in energy trade – for now – and has plans to ditch the US dollar entirely, Putin noted, but “if the policy of the American authorities continues… then we will not have to do anything, the US will itself undermine confidence in the dollar.”

Future Financial System: Do Your Own Research. Moving from Oil, Gas & Traditional Electricity to Metals, Green Technology, Wireless Electric. On the news right now. Petrol & Diesel vehicles will be banned by 2025. They are saying Australia will be the dumping ground for petrol and diesel cars. Now learn how the Bitcoin/Crypto Mining it is going and moving to Green Technology. USA vs CHINA Technology WAR. Q Save The World tells you. Not just about CRYPTO and the New Quantum Financial System. The Whole Lot is connected.

Quantum Systems: QUANTUM Financial System, Voting System, Healing, Physics etc. Everything is going QUANTUM. Hence why POTUS all hospital equipment will be obsolete. Blow me down Hospitals & Cancer Treatments are being Cyber Attacked WorldWide and being shutdown. They are shutting down Elective Surgeries because we have Med Beds coming.

Join the dots. New Quantum Financial System. ISO20022 Regulation. Only Coins that pass International Regulation stay. 99.5% Of them do not survive including Bitcoin when the Servers get turned off under the Three Gorges Dam. Then New Elections using this Technology WorldWide. Electing Governments 10% the size of what they are after military has made them all stand down. How this all goes together is amazing.

The Economy, Whiplash347: 1950’s prices after the economy crashes. 1776 Common Law for All 1955 Prices, Suppressed & Quantum Technologies. Last year I asked John if he had driven the 2020 Dodge Demon. His answer was that is old technology. Once the Storm is done. Go Stations. We are going back to 1950s prices – the years of the GREAT AMERICAN. So any prices you see on current Tesla models disregard.

Dangers of Cryptocurrencies and Stablecoin. The IMF has a serious problem with stablecoin Tether: “Potential risk of contagion to global financial system” The IMF does not currently see cryptocurrencies as a risk to the global financial system, although ironically some of them are designed to replace that system one day. What the IMF is concerned about is the growing market value of stablecoins and especially how the price of such a coin is supported.

Stablecoins are crypto that closely track the price of fiat coins, such as the dollar or the euro. They are purchased with fiat money and exchanged on crypto exchanges for digital coins or other crypto services. Tether (USDT), a dollar stablecoin, has a market value of $68.7 billion at the time of writing.

The stablecoins, which are the backbone of crypto investing for many investors, are increasingly being targeted by regulators and other institutions. In its annual Global Financial Stability Report this month, the IMF wrote that Tether does not pose a “systematic threat” to the international financial system. But risks of using the stablecoin need to be “closely monitored”. There must be “global standards” for such digital assets to counter a “contagion risk” across markets, the IMF believes.

Why are Tether and other stablecoins so “dangerous” according to the IMF?

The report states that stablecoins pose a potential risk to markets because they are regulated differently (if at all) in different regions of the world. The total market value of stablecoins has grown from 20 to more than 120 billion dollars in one year, thanks in part to the stock market boom and Covid stimulus packages.

Due to the expanding market value, the differences in local regulation and the weak spots of stablecoins would have more and more consequences, the IMF reasons. The first of those problems the international institution calls “poor disclosure”. According to the IMF, it is not always clear how the price of a Tether is supported.

Indeed, the developers of Tether have maintained for years that each of their coins is backed by a dollar in the bank. That later turned out not to be true. According to an auditor from the Cayman Islands, where Tether’s bank is said to be located, the crypto company’s reserves actually consist of tradable securities; some kind of debt.

Jerome Powell, the chairman of the US Federal Reserve, once told Congress that such commercial papers are not really a guarantee of liquidity. Particularly in times of a financial crisis, it would be particularly risky to rely on such securities. Powell also noted that stablecoins need to be better regulated.

What does the IMF propose?

The IMF believes stablecoins could fall victim to massive sales during difficult financial times, which could affect the entire global financial system due to their massive market value. To back up that argument, the IMF points to the fiasco surrounding the failed launch of stablecoin IRON, which collapsed in June, along with a major investment from noted crypto bull Mark Cuban. These so-called “bank runs” can lead to the massive sale of commercial paper that makes up Tether’s reserves, which in turn can lead to a shortage of liquidity, causing people to lose money.

While individuals will be affected first, the stablecoin system has not yet had an impact on the current financial order, the IMF notes. But that could change at any moment, especially when too much crypto is bought on the same crypto exchange, the IMF thinks. Pressure on such a crypto exchange or harmful hack could cause the stablecoin network to collapse like a house of cards, the international institution thinks.

However, the IMF is not thinking about too strict regulation or ban on stablecoins. The organization wants regulators to better research stablecoins and come up with a regulation that can ensure investors know exactly how their coins are backed.

“If you look at the market cap of stablecoins, you will see that they are made up of some of the largest offshore money market funds. They are certainly not small fish,” concludes IMF money market director Tobias Adrian.