The world economy navigates towards an increasingly moderate stage of growth, with central banks injecting money and with public and private debt at high or record historical levels. The prices of financial (stock and bonds) and real estate assets continue to rise, but the sentiment is cautious about the future.

Meanwhile, the price of refuge assets such as gold continues to skyrocket, in curious correlation with the price of the rest of the assets. …


Bank of International Settlements

Faced with Facebook’s attempt to launch the first global stablecoin (GSC) with Libra, central banks are maneuvering to avoid the monetary disorder that the regulatory vacuum can create and simultaneously short-circuit the risks that it entails for financial stability, for the competition and for the economic system itself.

Generally unknown to the public due to the complexity of their activities, never have central banks been so communicative in their positions and explanations about their role in society and especially in the functioning of payments. There are three lines of action that central banks are developing:

  1. How to regulate new activities…


The Libra Association

With the risk of the rapidity with which things change these days I will give my opinion on the Libra Association, which will be established in Switzerland by the Libra digital currency promoter group. The Association is the supreme governing body of new currency.

I will do it from two perspectives: the role of the Association mirroring part of the functions of the central bank of a country that issues its own currency, and I will complement it with an article on the relations between the members of the Association in the context of networks and hierarchies. …

Enrique Titos

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