BRICS expansion to a global community of security

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News Date: May 19, 2022

Xi calls on BRICS countries to build global community of security for all.
Xi made the remarks while delivering a video address at the opening session of the BRICS Foreign Ministers' Meeting.
China proposes to start the BRICS expansion process, explore the criteria and procedures for the expansion, and gradually form a consensus.
Sources: english.news.cn

Iraq is working on issuing a digital currency and deleting zeros from the dinar

Central Bank of Iraq: We are working on issuing a digital currency and deleting zeros from the dinar requires an atmosphere.
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, said on Tuesday that the bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world, stressing that deleting zeros from the local currency requires a calm economic atmosphere for that.
Sources: search4dinar

Bank Collapse In China! Preparing For Cut Off From SWIFT

Chinese banks will be sanctioned by the United States and this means that they will be cut from accessing some privileges in the financial world.
If China will be cut out of the SWIFT or denied access to US dollars, bank runs will be the new normal in China and the Chinese economy will suffer permanent damage.
Source: www.youtube.com

Central Banks lost control! Gold currency trust

Major central banks have totally lost control and the world economy is now floating around helplessly without direction.
Since sound money must be scarce, fiat money can never be sound since unlimited amounts can be and have been created. One of the very important features of gold is that it is scarce. The total global gold stock only increases by 1.7% or 3,000 tones per annum.
So scarcity is one of the important reasons why gold is the only currency that has survived in history.
Source:www.zerohedge.com

More BRICS and Bretton Woods 3

Expanding BRICS to create an alternative power bloc is enticing for many countries.
Talk of the BRICS nations creating a new reserve currency introduced the idea of 'Bretton Woods 3.0'.
The Bretton Woods Agreement was negotiated in July 1944 by delegates from 44 countries at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire.
Thus, the name 'Bretton Woods Agreement'.
Under the Bretton Woods System, gold was the basis for the U.S. dollar and other currencies were pegged to the U.S. dollar's value.
The Bretton Woods System effectively came to an end in the early 1970s when President Richard M. Nixon announced that the U.S. would no longer exchange gold for U.S. currency.
Sources: investopedia

Judy Shelton for Fed board, return to the gold standard

Senate banking panel to resume considering Judy Shelton for Fed board.
The nomination of Shelton appeared in jeopardy earlier this year as Republicans and Democrats on the banking panel expressed concerns over her views on the independence of the Fed from the White House, as well as her advocacy in the past for returning the United States to the gold standard.
Source: www.washingtonpost.com