Trump:The biggest thing that nobody knows about on January 1st

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News Date: September 12, 2020

Many are speculating that on January 1st, Donald Trump will be having the U.S to return to the gold standard, something he is publicly supported for many years.
"This is going to be the biggest thing that nobody even knows about, and it is all signed."
Sources:twitter.com

Argentina abolishes income tax

Argentina's government, ahead of a critical October 22nd election, has surprised many by announcing a tax exemption for millions of citizens, sparing them from income tax payments.
This move, amidst rampant inflation, directly contradicts Argentina's IMF deal, causing controversy.
It's seen as a political strategy to win favor in the election, but critics worry about its impact on fiscal responsibility and economic stability.
This decision underscores the intricate relationship between economic policy and politics in Argentina and raises questions about the nation's global financial reputation.

Australia closer to a cashless society

Australia's big four banks remove thousands of ATMs and shut down hundreds of branches as the coronavirus crisis pushes nation closer to a cashless society.
Sources:www.dailymail.co.uk, www.atmmarketplace.com

Polyus gold miner to switch the currency to rubles

Polyus wins bondholder approval to switch currency for Eurobond payments.
Russia's largest gold miner Polyus has received permission from holders of three Eurobonds to make payments on the debt in Russian roubles or another alternative currency, the company said on Friday.
Sources: reuters.com

Gold revaluation to write off the debt

The more debt is being accumulated on the balance sheets of European central banks, the more likely they will revalue gold to write off this debt.
One possible solution is that central banks use unrealized gains of the gold on their balance sheet to write off sovereign bonds, providing debt relief to their governments.
Revaluing gold to write off bad debt would require central banks to set a floor price for gold.
If a central bank uses its revaluation account fully, the gold price ideally doesn't fall back or this central bank will incur unrealized losses.
As such, the central bank would need to stabilize the gold price, which is a form of a gold standard.
Source: substack.com

A new global financial system

An economist predicts the emergence of a new global financial system.
The Russian economist, Anton Tabagh, said that the current system of monetary relations and trade settlements has been in crisis for a long time, but the recent geopolitical events may take another dimension and form.
The economist expressed confidence that the new system is in the process of taking shape.
Sources: search4dinar