Mayor of Barcelona Prepares New Digital Local Currency

By: Mike Shedlock | Fri, Oct 23, 2015
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The new mayor of Barcelona, Ada Colau, says Preparations Underway for New Local Digital Currency.

The objective of the currency, whose name will be decided after a participatory process, is to "promote local businesses."

Libre Mercado says the plan looks more like a publicity campaign for Barcelona. The Bank of Spain called the currency "impossible besides undesirable".

I point out that Barcelona is the capital and largest city of Catalonia, the second-largest city in Spain and the center of one of the largest metropolitan areas in Europe.

Please note the connection: Pro-independence parties in Spain won an outright majority in the recent Catalonia regional election.

Reuters reported Victorious Separatists Claim Mandate to Break with Spain.

I commented Pro-Independence Parties in Catalonia Unite to Form Government; Showdown with Madrid Coming Up

That showdown now includes a new digital currency.

 


 

Mike Shedlock

Author: Mike Shedlock

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Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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