Fed Outlines Pros And Cons Of A US digital Dollar -- But Avoids Taking A Stand for Now

A video shared by TikTok user @hollyvagabond shows the swirling, poolside twister lifting up debris and pushing lounge chairs. People can be heard screaming, and several other people scramble to get out of the pool and retrieve their things.
More than 20,000 people are in mandatory quarantine as the government adheres to China's zero-COVID policy, which aims to stamp out all outbreaks, running counter to a global trend of trying to coexist with the virus.

'The water started spinning, and when my friends and I saw that we turned and covered our heads like we would in a tornado drill and then I looked up and saw chairs flying - ran over to get our stuff all of our stuff was gone,' Darla Kersten of Illinois told Fox5. 
A powerful dust devil brought a hot summer pool day at Luxor Resort & Casino in Las Vegas to a full stop, lifting debris and lounge chairs into the air. At least one person was injured from the blip in weather

HONG KONG, July 16 (Reuters) - Macau's government will extend a lockdown of casinos and other businesses until Friday, as authorities grapple to stop the spread of COVID-19 in the world's biggest gambling hub, according a statement on its website.

ation. The only city in China where casino gambling is permitted, Macau has seen its vital tourism revenues wiped out by some of the world's harshest measures to tackle the virus -- including tough border controls, weeks-long quarantines and targeted

China, which outlawed cryptocurrency last year, is leading the "in-development" pack with the digital yuan, having trialed over $5 billion worth of transactions since June 2021. China has conducted various real-world pilot runs to test the "reliability of economic theories, the stability of systems and the controllability of risks," according to a recent report by the People's Bank of China. These pilot runs included giving digital yuan to a random pool of applicants to be spent at designated offline locations or on the site of China's largest online retailer, JD.com. 

Not only is it destabilizing, the Fed's report appears to throw shade on the idea that the Fed currently has the authority to create such accounts. Moreover, the Fed could be signaling that it's wary about expanding its current role to these proportions.

CBDCs could help unbanked households As of 2020, 5% of US adults, or roughly 16 million individuals, were unbanked, meaning they rely on nonbank products and services for cash, according to the Federal Reserve's 2020 Survey of Household Economics and Decisionmaking. Underbanked rates were higher among Black and Hispanic adults and those from historically excluded and low income groups. For those who have bank accounts, it's already possible to set up direct deposit with the government for When you loved this article and you would like to receive much more information relating to slot Machine Casino generously visit our own web site. federal money like tax refunds or stimulus payments. With a CBDC, the Federal Reserve could make such funds instantly available by depositing them into a digital wallet, regardless of whether the person had a bank account. 

Guests enjoying the pool at the Luxor Hotel and Casino in Las Vegas on Friday afternoon were caught by surprise when a dust devil swept away their lounge chairs and belongings, leaving at least one person injured.

Macau imposed the shutdown last Monday, shuttering the city's economic engine - its casinos - and forbidding residents from leaving their apartments, except for essential activities such as grocery shopping.

rence. Some public services and businesses such as supermarkets and pharmacies can stay open, but casinos -- which in normal times accounted for around 80 percent of government revenue -- will need to close th

A less destabilizing CBDC proposal wouldn't require a federal account but would involve a "cash card," that is, a card that customers of private banks could use at ATMs to load up on digital cash instead of paper money. "Just like paper money, if the holder lost that card or had their wallet stolen, the card would have value on it that anyone could use," Peebles said. 

HONG KONG, July 8 (Reuters) - Macau authorities have added two hotels in popular casino resorts to be used as COVID-19 medical facilities from Friday as they try to ramp up capacity to handle a surge of infections in the world's biggest gambling hub.

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home and restaurants are only providing takeaway. Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

Only Macau's casinos have been allowed to stay open in an effort to ensure job security. The government relies on the industry for more than 80% of its tax revenue with most of the population employed directly or indirectly by the casino resorts.