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

Turkey seeks to become full SCO member

Turkey's Erdogan targets joining Shanghai Cooperation Organization, media reports say.
'Now our next process will be steps towards this end. This is our goal,'
he said in reply to a journalist's question whether Turkey was considering the possibility of becoming a member of the SCO.
Source: reuters.com

Quantum computing finance shining in the Wall Street

The quantum computing is the latest shiny new thing of Wall Street. A fundamentally new kind of computing will shake up finance - the question is when...
Simple algorithms could be in use within 18 months, with credit-scoring a plausible early application.
For many problems, a quantum computer with thousands of stable qubits is provably far faster than any non-quantum machine that could ever be built.
Sources: www.multiversecomputing.com, www.economist.com

Currency Revaluation RV

A revaluation is a calculated upward adjustment to a country's official exchange rate relative to a chosen baseline.
The baseline can include wage rates, the price of gold, or a foreign currency.
Currency revaluation can be triggered by changes in the interest rates between various countries and large-scale events that affect the overall profitability, or competitiveness, of an economy.
Sources:www.investopedia.com/

Russian MF proposed an independent financial system for BRICS

On February 27, 2024, the first in-person meeting of finance ministers and central bank governors from BRICS countries took place in Sao Paulo, Brazil, as part of Russia's chairmanship.
The event marked a significant milestone for BRICS, emphasizing its growing importance globally with an increased number of participants.
During the meeting, Russia's Minister of Finance, Anton Siluanov, and First Deputy Chairman of the Bank of Russia, Vladimir Chistyukhin, presented the key focus areas, highlighting the theme of the chairmanship: improving the international monetary and financial system.
The participants, including Brazil, Russia, India, China, and South Africa, generally supported these priorities, signaling a collective commitment to addressing the role of developing countries in the global economy.
a crucial step is creating an independent financial infrastructure to bolster the autonomy and financial sovereignty of developing countries.
To enhance the global financial system, it's crucial to create practical opportunities for an independent financial infrastructure, reinforcing the autonomy and financial sovereignty of developing nations.
"The current system based on the existing Western financial infrastructure and the use of reserve currencies has a number of fundamental flaws. Such infrastructure should be available to everyone.
Financial infrastructure must be accessible to everyone and independent of the will of individual countries. Otherwise, we are faced with artificially created barriers to trade, investment and technology, even in transactions between third countries. This leads to a slowdown in global economic growth."
Siluanov said.

New Financial System

IMF member countries are receiving their shares of new SDRs, of about US$650 billion, the largest in the funds history! This is a shot in the arm for the world and will help bolster confidence and strengthen the resilience of the global economy.
The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The SDR is not a currency. It is a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
A SDR is not a loan & is cost-free for all IMF members. Unlike an extended fund facility, the government does not have to request any arrangement & there is no repayment involved. All member countries can use their allocated SDRs unconditionally.
IMF urges wealthy nations to direct $650 billion SDR share to vulnerable countries.
Zimbabwe to use more than half of IMF funds to prop up the currency.
Sources: twitter.com, www.today.ng