Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
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.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
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