China Paves the Way for Debt Relief

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News Date: April 26, 2024

China's central bank is pushing for fair burden-sharing among creditors in debt restructurings for emerging market countries, indicating a proactive stance on global debt issues.
China's recent move to write off undisclosed amounts of Zimbabwe's interest-free loans aligns with its commitment to assist African nations burdened by external debt.
Since 2000, China has made debt relief a norm, providing crucial support to sub-Saharan African countries without imposing strict conditions.
This approach could influence other lenders and boost investor confidence, ultimately attracting further financial support for debtor nations.
Read also: World Bank President:China needs to participate in debt relief

Vatican-Backed Report Urges Global Debt Relief

🙏🏛 A new Vatican-backed report, authored by a commission of leading global economists and experts, calls for urgent global debt relief to address the escalating crises of development and climate change. The Jubilee Report highlights that 54 developing countries now spend over 10% of their tax revenues just on interest payments, diverting critical resources away from health, education, and climate resilience. The report urges systemic reforms, including fairer debt restructuring and a reimagining of global finance to serve people and the planet, not just profits.
This initiative builds on the vision of Pope Francis, who declared 2025 a Jubilee Year focused on debt forgiveness and justice. Now, this mission is being carried forward by the new Pope, Leo XIV, who emphasized at his inauguration the urgent need to overcome economic systems that exploit the Earth and marginalize the poor. Under his leadership, the Vatican continues to champion debt relief as both a moral imperative and a practical step toward global equity and sustainability

Basel III and the Gold Standard

The manipulation of paper trading will be minimized with Basel III unallocated limit restrictions.
Gold and silver prices are sure to rise in the run-up to full implementation of Basel 3 regulations as the metals become a risk-free tier 1 asset with liquidity equal to cash and financial establishments mandated to hold more physical leverage against debt.
Basel III implementation is just weeks away, ahead of the historic impact of unallocated position limit restrictions on the suppression of the gold and silver price.
Source: www.investing.com

Pearl Harbor 2021. Cyber version

Up to a MILLION companies are hit in biggest global ransomware attack on record: Allegedly, Russian hackers REvil demand $70MILLION for decryption key weeks after President Biden told Putin to stop protecting hackers.
World Economic Forum hints at global cyber pandemic this summer to facilitate great reset.
Cyber Polygon - 9 July 2021: The international capacity building initiative aimed at raising the global cyber resilience and the expansion of intersectoral cooperation against cyberthreats.
Sources: cyberpolygon.com, www.naturalnews.com, www.dailymail.co.uk

Introducing the new global financial system

Answers provided by Sergey Glazyev, Russian Geoeconomics Tzar:
The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources.
And it will liberate the Global South from both western debt and IMF-induced austerity.
Transition to the new world economic order will likely be accompanied by systematic refusal to honor obligations in dollars, euro, pound, and yen.
In this respect, it will be no different from the example set by the countries issuing these currencies who thought it appropriate to steal foreign exchange reserves of Iraq, Iran, Venezuela, Afghanistan, and Russia to the tune of trillions of dollars.
Full article: Authored by Pepe Escobar via The Cradle

Defcon Level Warning System: Returning To Gold Standard

Russia is reportedly returning to the gold standard.
The government will abolish the VAT (tax) on bullion when purchasing gold bars or other precious metals from a bank.
The 20% current tax on top of its value will not apply.
According to Money Week China 'almost certainly' owns more gold than the United States and both Russia and China have been expecting that they must separate from the U.S. dollar and have been increasing their gold holdings so that they will be prepared for such a time.
Maxime Bernier said that China and Russia have both accumulated a lot of gold and are dumping their dollar assets.
"By escalating the Ukraine conflict and imposing financial sanctions, we are pushing them to establish an alternative global monetary system, likely based on gold" he stated.
"When this happens the US$ will crash and our massively indebted economies will suffer.
This is a big geopolitical blunder. And btw Canada has no gold reserve. We won't have anything to support the CAN$. Almost nobody sees this coming". he added.
Maxime Bernier said that he supports the return to sound money and a gold standard, but not in an 'unprepared and destabilizing fashion as the one we are facing now'.
Source: Defcon Level Warning System