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,