At the level of fuggery this country has attained with that system it wouldn’t matter one bit.
Just produce a ledger entry and poof!
Done
Not soon or as soon as some think
They have to successfully tokenize derivatives shit pile and then will probably start doing it with SS payments. Plus they gotta pin it on a republican
Lotsa moving parts and the EU will be starting a 2 y trial starting tomorrow.
It all depends on how you define when: for regular peeps with attempt at replacing cash it’s a ways off but for intrabank shit they can do it now via FedNow but from what I’ve heard that not going as well as they hoped.
>>19837214 pb
Japan 'on standby' to take all possible steps amid yen decline
Japan is "on standby" to take all possible steps to counter excessive volatility in the currency market, its top currency diplomat said Wednesday, expressing concern over rapid yen movements as the currency fell to a one-year low against the U.S. dollar.
The latest verbal warning by Masato Kanda, vice finance minister for international affairs, came as yen selling accelerated despite intervention fears after the Bank of Japan loosened its grip on long-term government bond yields but maintained monetary easing on Tuesday.
"We are ready to take action without ruling out all possible options against excessive volatility," Kanda told reporters. "We are on standby."
Japanese authorities traditionally issue warnings before they intervene in the currency market. The previous yen-buying, dollar-selling intervention was conducted about a year ago to counter what was described as the yen's "rapid" and "one-sided" depreciation.
Kanda said that recent yen moves are excessive, adding that "appropriate action" should be taken because of their impact on people's livelihoods.
The dollar traded in the lower 151 yen zone after climbing as high as 151.74 yen overnight in New York.
The BOJ decided to allow 10-year government bond yields to rise above its previous ceiling of 1.0 percent at the end of a two-day policy-setting meeting on Tuesday.
The widening interest rate gap between Japan and the United States has been a major factor behind the yen's weakness.(you forgot the part where they sell ass tons of US Debt to do it-FIFY). The Federal Reserve has been raising interest rates aggressively to fight inflation. (But they are D-O-N-E)
https://asia.nikkei.com/Business/Markets/Currencies/Japan-on-standby-to-take-all-possible-steps-amid-yen-decline
https://tradingeconomics.com/japan/currency
They get over $200m in euro/$ swaps each week
It’ll be in Thursday after its reported at the NY Fed
So selected and achieved are all relative.
Failed already just keeping corpse (euro) alive via that and as long as music plays……
No it’s not….just enough though.
They started almost 2y ago with just under $100m
So they know and do just enough to not attract attention.
Everyone knew they did billions for the Swiss and will likely do it again this year.
Look at NY Fed central bank currency swaps that is the topic.
I’m not disagreeing with you as I know the amounts are much higher
SAM000G5 on ground at JBA from Peterson SFB
And finding those dollars only gonna get worse.
This is a big disconnect w/ non finance peeps.
When the collateral grabs start en masse (rehypothecated assets) THAT will be monumental when it is allowed to habben. The big problem is the peer group can be wrong yet keep jobs (the dumb ass trades) cuz that all they know.