T U B E

• The People’s Republic of China has been buying gold at a record pace, leading to central banks hoarding the precious metal at the fastest pace in 55 years.
• According to Wells Fargo’s head of real asset strategy, John LaForge, silver could outperform gold in 2023.
• China recently purchased 1.03 million ounces of fine gold in November, making it the sixth largest country in terms of gold reserves held.

The global demand for gold has been on the rise in recent years and the People’s Republic of China has been at the forefront of this movement. According to World Gold Council (WGC) statistics, the demand for gold by central banks has risen at the fastest pace in 55 years. This surge in gold buying has been largely driven by the Chinese government, with the State Administration of Foreign Exchange revealing that the country purchased 1.03 million ounces of fine gold in November.

This massive gold purchase has made China the sixth largest country in terms of gold reserves held, with 63.67 million ounces of gold worth $112 billion. The gold buying spree in China has caused a significant shift in the global gold market, pushing the price of a troy ounce of .999 fine gold up 11.48% from $1,629 per unit in November to $1,816 per ounce today. Silver has also seen an increase in value, with a troy ounce of .999 fine silver increasing 23.29% from $19.45 per unit in November to $23.98 per ounce.

Wells Fargo’s head of real asset strategy, John LaForge, believes that silver could potentially outperform gold in 2023. LaForge contends that when silver starts outperforming gold, it usually signals it is „closer to a bull market in precious metals versus the other way.“ This prediction should come as no surprise given the current state of the gold market, with central banks buying hoards of the precious metal and pushing prices higher.

The gold buying spree in China and other central banks over the last year have had a profound effect on the global gold market. This surge in demand for gold has caused the price of gold to increase and has made China the sixth largest country in terms of gold reserves held. Wells Fargo’s head of real asset strategy, John LaForge, believes that silver could potentially outperform gold in 2023, signaling a potential bull market in precious metals. With the world’s central banks hoarding large sums of gold, investors should be aware of the potential upside of investing in both gold and silver.

• Venezuelan banking watchdog Sudeban is working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the exchange market.
• Analysts have linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar.
• The Venezuelan government is aiming to monitor the movements of crypto-based P2P exchanges to protect the value of the bolivar.

Sudeban, the Venezuelan banking watchdog, is currently taking steps to ensure the stability of the Venezuelan currency by monitoring crypto-related transactions. This move comes after analysts have linked the recent drop in the value of the bolivar to the situation in peer-to-peer (P2P) crypto markets.

In order to protect the value of the bolivar, the Venezuelan government has implemented a system to monitor banking transactions in real-time with the help of Sunacrip, the national cryptocurrency regulator. This system is designed to detect any irregular practices that might attack the currency or the stability of the exchange market. As part of this measure, more than 75 bank accounts have been blocked due to suspicious activity related to cryptocurrency transactions since the end of 2021.

The Venezuelan government is also taking steps to ensure that the bolivar is not adversely affected by large volumes of cryptocurrency transactions. To this end, Sudeban has begun to examine the link between the volumes exchanged in cryptocurrency markets and the U.S. dollar – Venezuelan bolivar exchange rate. While the government has not explicitly stated there is a direct relation between these two variables, analysts have suggested that the recent cryptocurrency drought in peer-to-peer markets due to the collapse of FTX, may have contributed to the sudden rise in the aforementioned exchange rate.

The Venezuelan government is determined to protect the stability of the bolivar in the face of potentially destabilizing crypto-related transactions. As part of this effort, Sudeban is working to create a reliable and efficient monitoring system to detect any irregular practices that might affect the value of the national currency and the stability of the exchange market. Furthermore, the government is examining the relationship between the volumes exchanged in cryptocurrency markets and the U.S. dollar – Venezuelan bolivar exchange rate, in order to prevent large volumes of crypto transactions from having an adverse effect on the value of the bolivar.

Bullet Points:
• China is launching a public-private partnership to establish a regulated trading platform for digital collectibles.
• The exchange will be operated by the China Digital Exchange, set up by the Ministry of Science and Technology, the State Intellectual Property Office, the Chinese Academy of Sciences, and the Beijing municipal government.
• The platform will provide trading services for digital collectibles and digital copyrights.

Chinese authorities are taking steps to encourage the trading of digital assets in the country with the launch of a new public-private partnership. The initiative is a joint project between government organizations and a private company and will launch on January 1, 2023. The China Digital Asset Trading Platform will be operated by the China Digital Exchange, set up by the Ministry of Science and Technology, the State Intellectual Property Office, the Chinese Academy of Sciences, and the Beijing municipal government.

The platform will provide trading services for digital collectibles and digital copyrights and will be compliant with applicable regulations. The exchange facilitates purchase and sale of intellectual, scientific, and technological property rights in the People’s Republic. It will provide the underlying infrastructure for the new trading platform, taking responsibility for processing transactions and implementing settlement mechanisms.

The establishment of the China Digital Asset Trading Platform is part of government efforts to curb market speculation with digital assets. Huaban Digital Copyright Service Center Co. Limited President Yin Tao explained that the platform will also support trading of non-fungible tokens (NFTs) and other digital assets.

The Chinese government hopes that the new platform will provide an opportunity for businesses to explore and develop the digital asset market, as well as create a regulatory environment that balances the interests of all stakeholders. The exchange is expected to support the development of new business models and help create a more open and transparent digital asset trading market.

• The market capitalization of the entire stablecoin economy lost just over $28 billion in value since the start of 2022.
• More than $3 billion has been erased from the stablecoin economy in the last 23 days, with BUSD shedding roughly 23.3%.
• Tether (USDT) had a market capitalization of around $77.14 billion at the start of the year, and today it’s down to $66.25 billion.

In 2022, the stablecoin economy has seen a significant decline in value, losing over $28 billion since the start of the year. This has been largely driven by the erosion of the stablecoin economy’s market capitalization, which has seen a decrease of 16.77%. This has been a concerning development for many cryptocurrency investors, as the stability of these coins is essential in providing a reliable store of value in the digital asset space.

In particular, the market capitalization of tether (USDT) has seen a significant decrease, falling from $77.14 billion at the start of the year to $66.25 billion today. This has been accompanied by a drop in the market capitalization of other stablecoins, such as USD Coin (USDC), which has seen its market capitalization fall from $42.74 billion to $44.28 billion in the same period.

The situation has been exacerbated in recent weeks, with the stablecoin economy shedding more than $3 billion in value in the last 23 days. This has been driven by a sharp decline in the market capitalization of BUSD, which fell from around $22.08 billion on Dec 5, 2022 to $17.16 billion today. Furthermore, TerraUSD (UST) has seen its value obliterated, falling from $10.19 billion to just $215 million in the same period.

Overall, the decline of the stablecoin economy has been a cause for concern among investors. The stability of these coins is essential for providing a reliable store of value, and the erosion of their market capitalization could have long-term implications for the cryptocurrency space. As such, it is important for investors to remain vigilant and monitor the situation closely.

• Robert Kiyosaki, author of Rich Dad Poor Dad, is warning investors to buy gold and silver at their current low prices before the stock market crashes, sending the prices higher.
• Kiyosaki believes that inflation and increasing interest rates will lead to a stock market crash, making gold and silver a better investment.
• He advises investors to buy physical gold and silver, not ETFs.

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, is warning investors that now may be their last chance to buy gold and silver at low prices. According to Kiyosaki, inflation is rising and interest rates are going up, which is likely to cause a stock market crash, sending the prices of gold and silver soaring.

Kiyosaki has been vocal about his belief that gold and silver are a better investment than stocks, bonds, and real estate. „Inflation moving up. Interest rates moving up. Stock market to crash sending gold and silver higher,“ he said in a tweet. He also mentioned that this may be the last chance for investors to buy gold and silver at their current low prices.

The Rich Dad Poor Dad author has been advocating for investing in gold and silver for some time. He has always advocated for buying physical gold and silver, instead of investing in exchange-traded funds (ETFs). His warnings have been met with both agreement and disagreement. Some believe that gold and silver prices will plummet when the Federal Reserve continues to raise interest rates, while others believe Kiyosaki’s advice is sound.

Kiyosaki believes that gold and silver are the best option for investors looking to protect themselves from stock market volatility. He advises investors to buy gold and silver before the Federal Reserve makes its pivot, which could send the prices of these precious metals even higher.

All in all, Robert Kiyosaki is warning investors that now is the time to buy gold and silver at their current low prices before the stock market crashes, sending the prices higher. He believes that investing in physical gold and silver is the best way to protect oneself from stock market volatility.

• The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public.
• Despite losing its bid to have a Nigerian court sanction the arrest, the DSS is still seeking to apprehend the CBN governor.
• The DSS‘ unconfirmed plan to arrest Emefiele reportedly came a few weeks after a Nigerian High Court judge, John Tsoho, turned down the security agency’s bid to have the CBN governor arrested.

The Nigerian security agency, the Department of State Services (DSS), is said to be seeking to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public. The DSS is reportedly still pursuing its plan to apprehend the CBN governor despite losing its bid to have a Nigerian court sanction the arrest.

This comes after a Nigerian High Court judge, John Tsoho, rejected the security agency’s attempt to have the CBN governor arrested. In his judgment, the judge reportedly slammed the DSS for attempting to use a deceptive lawsuit “to deprive a person [Emefiele] of his liberty.” It is alleged that the DSS is accusing the CBN governor of funding terrorists.

The rumors suggesting that the DSS still wants to arrest the official have reportedly forced Emefiele to avoid public gatherings including a scheduled appearance before Nigerian legislators. The DSS‘ unconfirmed plan to arrest him is said to have come a few weeks after the court ruling.

Insiders said the security agency has instructed its operatives to arrest Emefiele „on sight.“ Additionally, the agency is said to be monitoring movements at the CBN headquarters and at the Emefiele family residence in Lagos.

Opponents of the CBN’s cashless policy are reportedly pushing for Emefiele’s removal from office. It has been suggested that the DSS wants to use the allegations against the CBN governor to further its agenda.

Meanwhile, the controversy surrounding the failed arrest of Emefiele continues to hog the limelight. While the DSS continues to pursue its plan to apprehend the CBN governor, it remains to be seen what implications this will have for the Nigerian economy and the future of the country as a whole.