EUROCRATS

In the news, the British Government is out of pocket millions on its tax collection duties since February, surrounding VAT and corporation tax. The blame of late payment notices are being send to businesses, yet it was the HMRC’s fault in changing its bank details. “In February, the government department changed its International Bank Account … Continue reading EUROCRATS

Competing Crypto-Currency, RSCoin

The Telegraph reports the Bank of England are developing a new competing currency for Bitcoin, called RSCoin. “[This new currency transfers the] control of money creation from private banks to the state. Arguably, this would make the financial system safer and less prone to boom-bust cycles.” (Evans-Pritchard, 2016). Inflation-induced “boom-bust cycles” arise from monetary policy credit … Continue reading Competing Crypto-Currency, RSCoin