H.R.25, A bill to repeal the income tax

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News Date: June 24, 2020

H.R.25
A BILL To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.
Source:https://www.congress.gov

Federal Student Loan Payments Officially Suspended

President Trump signed an Executive Memorandum on August 8 related to student loan relief.
Secretary DeVos announced that she has fully implemented Mr. Trump's directive.
Source:www.ed.gov

Global currency debasement

Economy hits debt saturation point. Global economy has no capacity to carry any more debt - Max Keiser.
The new higher levels of debt that many countries are now moving towards are going to be sustainable without imposing significant costs on growth as well as equity within their societies.
Every dollar that these central banks print will go directly into consumer price index inflation - and you will see it at the cash register immediately, and that is going to incredible social unrest.
Global debt to GDP is now at all-time high in Q1. Overall debt for the non financial-sector now worth 252% of global GDP.
Get ready for extreme global currency debasement.
Sources:twitter.com/GoldTelegraph, cointelegraph.com

Federal Reserve Endorses Ethereum-Backed Alternative To Libor

Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate called AMERIBOR could serve as a potential replacement to LIBOR.
Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). USD Coin is on the Ethereum blockchain. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Source: forbes.com
A district court in China has reportedly ruled that Ethereum's cryptocurrency is legal property with economic value.
While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
Source: bitcoin.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

Visa Files Patent For Blockchain Digital Fiat Currency

Visa International has filed for a cryptocurrency system patent that is meant to replace physical currency. The system, which utilizes both central banks and commercial banks, leverages a private blockchain to improve the payment ecosystem. The filing is for a fiat-linked cryptocurrency system using a private distributed ledger technology (DLT).
Source:bitcoin.com