Hi HODLers and Hiveans,
The main Central Banks of the Western World announced a global action to help out their respective financial sectors.
Namely:
- USA,
- Canada,
- England,
- Japan,
- European Union and
- Switzerland
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.
Governments and Central Banks are freaking out at this new liquidity crisis. It seems like SVB and Credit Suisse might not have been the last s thoeo drop
This will allow daily US Dollar liquidity compared TO previous weekly liquidity. It will start on Monday, March 20, 2023, and will continue at least through the end of April.
In their official statement, the FED clearly states the goals to:
helping to mitigate the effects of such strains on the supply of credit to households and businesses.
They say "it is not QE" but it looks very much like it...
And Bitcoin knows it!
Bitcoin is up more than 69% in 2023. Crazy!
You can find the full statement here:
Coordinated central bank action to enhance the provision of U.S. dollar liquidity
Stay safe out there,
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US Dollar is being described as Safe heaven currency which have higher use case most people use for transaction. So, when the US Dollar lose it fraction of value it generally affects a lot of currencies.
Increased liquidity is bullish for crypto 😎😎
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Indeed! At least for serious coins such as BTC and ETH 😅
These are the preparations for CBDCs...
Unfortunately, you might be right. But we will fight’em!
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The US dollar is in a tough situation. They need to guarantee the power of the dollar domestically but they also want to make sure it stays strong globally and I don't think it might do that well. I just don't think the dollars are there but I do think providing liquidity will help the situation. It's just a bandaid though.
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