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The latest in financial news: PayPal creates its own stablecoin, Central banks throughout the world continue to buy gold, and Emergency funds in America are low

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PayPal USD

PayPal just recently announced that they are coming out with their own version of a stablecoin to interact on various crypto ecosystems. They are partnering with Paxos to assist with the infrastructure of the stablecoin. It would appear that people would be able to buy and sell the stablecoin (PYUSD) on their app and through various exchanges. There isn’t any date set for the release of PYUSD at this time.

Where is the gold going?

More and more central governments are buying gold than before. China has recently bought more gold for their central bank for the 9th straight month. The other members of BRICS (Brazil, Russia, India, China, and South Africa) have also been buying and storing gold in their central banks. European countries have also had their central banks buying more gold. As the rest of the world continues to buy gold, why not the US? It’s an interesting thought that makes investors wonder if the rest of the world is doing it then maybe they should too.

52% of People Don’t Have A Proper Emergency Fund

A survey by Bankrate this year had 52% of people surveyed as having less than 3 months saved in an emergency fund or not having an emergency fund. This is terrifying that people aren’t saving or maintaining a proper emergency fund. The point of an emergency fund is to provide a safety net for you in case of any injuries or job loss. Emergency funds are part of the foundation for good finances along with a budget.

What Does It Mean For You?

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