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

China trials cross-border settlement involving CBDC

China trials cross-border settlement involving cenbank digital currencies.
The bridge test was developed by the Bank for International Settlements.
A central bank digital currency trial focused on cross-border transactions has been completed, BIS said, with Chinese state-owned banks participating as Beijing tries to internationalize its digital yuan.
Sources: reuters

Russia Proposes New Standard for precious metals market

Russia Proposes New Standard To break the London Bullion Market Association (LBMA) monopoly on gold.
It is proposed to 'place a specialized international precious metals exchange headquartered in Moscow' using the 'new international standard MWS' as the 'basis of the structure.'
It is also proposed to establish a Price Fixing Committee.
Subject to the application of the MWS standard, it will include the central banks and the largest banks of the Eurasian Economic Union countries represented in the precious metals market.
According to the Russian department, it is necessary to 'bet on fixing prices in the national currencies of the key member countries, or on new units of international settlements, such as the new unit of settlements proposed by the president of Russia within the member countries of the BRICS organization.'
Sources: gata.org

United States and China are seeking debt relief measures

The United States and China are in frequent discussions to prevent emerging market sovereign defaults.
Talks include preemptive measures such as extending loan periods to ease the annual debt service burden of over US$400 billion for poor countries.
Ideas also involve increased financing from the World Bank and others to address high borrowing rates.
The aim is to implement these measures before countries default and enter formal restructuring talks with creditors.
The Treasury Department: "we talk frequently with China about sovereign debt concerns.
And we talk to many countries about how to make sure the international financial architecture is meeting low-income country financing needs".

Principles of BRICS expansion

Russian Foreign Ministry: BRICS countries discuss principles of alliance expansion.
Ivan Nechayev, deputy director of the information and press department of the Russian Foreign Ministry, said at a briefing on Thursday, August 11, that the establishment of criteria for the accession of new BRICS members is already underway.
Iran and Argentina applied to join the BRICS, and later it became known that Turkey, Egypt, Saudi Arabia, Nigeria, and Algeria would also like to become part of the alliance.
In addition, Cuba's ambassador expressed the need for economic cooperation with the BRICS.
Sources: tvbrics.com

Mississippi to Phase Out Income Tax Under New Law

Mississippi Governor Tate Reeves has officially signed a bill into law that sets the state on a path to phase out its income tax. The legislation, a major victory for conservative economic policy, aims to gradually reduce and eventually eliminate personal income tax in the state, making Mississippi one of the few states without such a levy.
Supporters argue that the move will attract businesses, boost economic growth, and put more money into the hands of residents. Opponents, however, warn that eliminating the tax could strain state revenues, potentially affecting funding for education, infrastructure, and public services.
Gov. Reeves hailed the decision as a step toward greater financial freedom, emphasizing Mississippi's commitment to lower taxes and a pro-business environment. The phase-out plan will occur over several years, with incremental reductions to ensure a smooth transition.
Mississippi now joins a growing number of states pursuing aggressive tax-cutting measures, reflecting a broader national debate over taxation and economic policy.