Former Prime Minister of Canada: Bitcoin could become the world’s reserve currency

Stephen Harper, former Canadian Prime Minister, believes that gold, Bitcoin or „a basket of a variety of assets“ could replace the dollar in international markets

Stephen Harper, who served as Prime Minister of Canada for nine years, said that there is room for The News Spy in the baskets of reserve currencies: in his opinion, they could even replace the dollar.

In an interview with Cambridge House’s Jay Martin during the Vancouver Resource Investment Conference, Harper said that the U.S. dollar can only realistically be replaced by very major currencies, such as the euro or Chinese yuan. That would be highly unlikely, however, given the uncertainty surrounding the euro and the „arbitrary measures“ the Chinese government could take to alter the value of the yuan:

„It is difficult to predict what the alternative to the U.S. dollar as a global store of value will be. Other than gold, Bitcoin, or a basket of a variety of assets. […]

I think many other instruments will be used as reserve currencies in the future, but the U.S. dollar will remain by far the most important.“

Stephen Harper went on to say that CBDCs were „inevitable,“ but in his view they will be subject to very strict monetary policies around the world. The former prime minister fears that central banks could become „a kind of general banker“ rather than just financial overseers:

„Ultimately, if you have a digital currency and the purpose of central banks is to control inflation by creating a stable, priceable currency, then digital currencies are just sort of an evolution of that market.

But if it’s going to be part of a series of what I would call ‚wild experiments‘ in the role of central banks … then it worries me a little bit.“

Harper was Prime Minister of Canada from 2006 to 2015. The adoption of cryptocurrencies and blockchain in the country has expanded significantly since then: in September of last year, the very first regulated exchange was launched in Canada. According to Timothy Lane, deputy governor of the Bank of Canada, the central bank is moving forward with the development of its own CBDC.

FDP financial expert Schäffler: Federal government missed the connection with crypto currencies

The FDP financial expert Schäffler accuses the German government of inactivity with regard to important questions about crypto currencies.

The FDP financial expert Schäffler criticized the federal government for inaction on crypto currencies in a post published on January 5 on its website .

As numerous small inquiries on the subject of cryptocurrencies from the FDP parliamentary group have shown, the federal government has not seen any need for action in the area of taxation for eight years.

Schäffler: The government always answers the same

The government has not changed its view over the years and „always answer the same“ with the statement that the Federal Ministry of Finance „is in coordination with the highest financial authorities of the states“. Despite this long-running voting process, the government had been unable to reach an agreement on this important issue for eight years.

This is a problem for investors in relation to rising prices for crypto currencies and the resulting “ever greater tax law issues”. Schäffler expresses a lack of understanding, as interest in cryptocurrencies is currently growing massively.

The federal government shows no interest in “ offering the citizens of Germany a secure legal framework for acquisition and taxation,“ said the FDP politician. Schäffler also focuses on technical and tax issues, some of which he lists:

“What is the order of consumption? What happens in the case of a hard fork (ie whoever bought Bitcoins suddenly also has Bitcoin Cash (new cryptocurrency) in their depot)? What happens if one cryptocurrency is exchanged for the other? „

The fact that the payment service provider PayPal in the USA already allows its customers to use Bitcoin and other cryptocurrencies has not prompted either the federal government or BaFin to contact the company. This and the answers of the federal government to the small inquiries of his parliamentary group make it clear that the federal government is failing to “keep up with this key technology”.

FDP parliamentary group shows great interest

The FDP parliamentary group with Frank Schäffler regularly makes small inquiries about blockchain technology and crypto currencies in order to find out the positions and intentions of the federal government. As became known last November, for example, it does not expect a digital euro to be introduced as the digital central bank currency in the coming years .

Il sindaco di Miami „Aperto“ all’esplorazione Assegnazione

Il sindaco di Miami „Aperto“ all’esplorazione Assegnazione dell’1% delle riserve della città a Bitcoin

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Il sindaco di Miami, Francis Suarez, ha rivelato di essere aperto ad esplorare la possibilità di destinare l’1% delle riserve di tesoreria della città al bitcoin. Suarez ha esplorato la criptovaluta nelle Bitcoin Profit ultime settimane.

Il sindaco della città di Miami, Florida, ha rivelato di essere disposto a destinare parte delle riserve del tesoro della città a BTC, rispondendo a un tweet di Anthony Pompliano (alias „Pomp“), co-fondatore e partner di Morgan Creek Digital Assets, che ha chiesto il trasferimento.

Sicuramente aperto ad esplorarlo.
– Il sindaco Francis Suarez (@FrancisSuarez) 29 dicembre 2020

L’allocazione, secondo i dati disponibili, sarebbe notevolmente inferiore agli investimenti che diverse imprese hanno effettuato in bitcoin lo scorso anno. MicroStrategy, ad esempio, ha acquistato oltre 1 miliardo di dollari di BTC, mentre l’allocazione di Miami potrebbe essere di circa 18 milioni di dollari.

Per alcuni della comunità dei crittografi, tuttavia, la mossa fa parte di un più ampio abbraccio della valuta di punta della crittografia. Un altro utente ha chiesto al sindaco Francis Suarez di lasciare che i cittadini paghino i servizi della città con la moneta criptata di punta „come inizio“. In risposta, Suarez ha detto che la città ci lavorerà „sicuramente“ quest’anno.

Sicuramente aperta ad esplorarla.
– Il sindaco Francis Suarez (@FrancisSuarez) 29 dicembre 2020

Wyoming Republication ha detto di credere

In risposta, altri utenti hanno indicato la senatrice eletta Cynthia Lummis, che ha promesso di migliorare il profilo di BTC al Congresso quando assumerà l’incarico. Durante un podcast, la Wyoming Republication ha detto di credere che il bitcoin sia un grande valore che può aiutare ad affrontare il debito nazionale degli Stati Uniti, che si dice sia una delle sue più grandi preoccupazioni.

Per il senatore eletto il bitcoin è una riserva di valore migliore della carta moneta, perché c’è un’offerta limitata di BTC che può essere in circolazione: 21 milioni di monete. L’inflazione, ha detto, è „incisa nel piano della Federal Reserve per il dollaro americano“, al punto che le persone che vivono dei loro risparmi in pensione vedono il loro potere d’acquisto eroso dall’inflazione.

L’adozione della Bitcoin sembra, in quanto tale, non solo tra le aziende ma anche tra i funzionari pubblici. La domanda di criptovaluta è aumentata negli ultimi mesi, aiutando per la prima volta il suo prezzo a superare la soglia dei 30.000 dollari.