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

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

Supreme Court justice to serve the American people

Amy Coney Barrett said Saturday that, if confirmed as a United States Supreme Court justice, she would assume the role to serve the American people.
Judge Amy Coney Barrett: "I love the United States, and I love the United States Constitution."
Sources:twitter.com/WhiteHouse, www.whitehouse.gov

Digital Gold Currency Fueled by Constitutional Roots

Utah state Rep. Ken Ivory is spearheading a groundbreaking effort to allow vendors to receive payments in gold and silver through a digital platform backed by physical metals. Speaking on the John Solomon Reports podcast, Ivory expressed optimism about overriding Gov. Spencer Cox’s veto of the bill, noting that the state House has already approved a veto override session. This legislative momentum underscores Utah’s commitment to exploring innovative financial systems rooted in constitutional principles.
Ivory emphasized Article I, Section 10 of the U.S. Constitution, which declares, “No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts.” He argued that this clause supports the bill’s importance, calling gold and silver “constitutional money.” The proposed system would be voluntary, using digital delivery to modernize the use of precious metals without violating federal law or the Constitution’s ban on fiat currency.
In a parallel move, Texas lawmakers have introduced bills to create a gold-backed digital currency, signaling a broader trend among states to align financial innovation with constitutional intent. Ivory highlighted the urgency of Utah’s initiative, positioning it as a potential model for blending historical monetary standards with 21st-century technology. As both states advance, they may pave the way for a new era of trusted, metal-backed digital payments.

The Petro-yuan announcement

China's Xi calls for oil trade in yuan at Gulf summit in Riyadh.
President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken the U.S. dollar's grip on world trade.
China to use Shanghai exchange for yuan energy deals with Gulf nations.
China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.
Sources: reuters

Ripple partner Nium takes on SWIFT

The new solution, which leverages Ripple's blockchain network Ripplenet, claims to lower settlement costs for Financial Institutions by up to 90% for international brokerage account transactions when compared to transactions settled via the SWIFT International Payments Network.
XRP powers NIUM's alternative to swift.
Nium has pointed to three major benefits of its global payments network and new brokerage solution: cost savings of up to 90%, improved customer satisfaction, and increased demand for new partnerships.
Source: financefeeds.com