It is the 25th of August 2019

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Why Mark Carney Thinks The Dollar Can No Longer Be The World's Reserve Currency

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  • 22 hours, 25 minutes ago
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While Jerome Powell's highly anticipated Jackson Hole speech was, in the words of Brean Capital's Russ Certo "underwhelming and anti-climatic", one couldn't say the same for the shocking luncheon speech by Bank of England's outgoing governor, Mark Carney, titled "The Growing Challenges for Monetary Policy in the current International Monetary and Financial System", where he dedicated no less than 23 pages to a stunning - for a central banker - cause: to describe why the dollar's  "destabilizing" reserve status role in the world economy has to end, and why central banks need to join together to create their own replacement reserve currency, one potentially tied to Facebook's new "stablecoin" Libra, although in reality any "Synthetic Hegemonic Currency" as Carney defined it would do.

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Texas Firm Claims To Have Developed The "Holy Grail" Of Electric Motors

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  • 23 hours, 15 minutes ago
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A Texas-based company recently raised $4.5 million in seed funding to develop and commercialize a revolutionary motor that produces more torque, double the power, and increases range in an electric vehicle versus one using a typical electric motor.

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