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

Welcome to Blockchain, Federal Reserve!

Once Anti-Bitcoin, JPMorgan Provides Banking Services to Crypto Exchanges Coinbase and Gemini.
Source:cointelegraph.com

Patent WO2020060606 cryptocurrency system using body activity data

Microsoft Patents New Cryptocurrency System Using Body Activity Data.
Patent number: WO2020060606
Microsoft is recently issued a patent for a device that is implanted under your skin that tracks your movements, allows for cashless payments, and even allows for medical tracking
Source:patentscope.wipo.int

Challenging The G7

BRICS plus nations in the Global South could represent a sea change in the West's global institutions.
The West has traditionally dominated global groupings of leaders, most notably the G8, which included Russia until 2014 and is now the G7.
That is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, with the European Union is a 'non-enumerated member'.
Russia is ready to develop a global reserve currency together with China and other members of the BRICS group of nations.
It could be based on a basket of currencies from the organization's members.
One possibility is that the BRICS basket currency could attract the reserves not just of the group's members, but also countries already in their range of influence.
These include nations in South Asia and the Middle East.
Sources: silkroadbriefing.com

Russia China will lead the world to gold standard

The process of fiat money collapse is currently underway and that gold, property and productive assets like manufacturing factories can be used to rebuild the economic system.
A combination of China and Russia would be the two countries that will lead us back to having a currency backed by precious metals.
China has multiples of what they report in gold reserves, that they probably got 20,000+ tons of gold reserves.
Russia is actually in a very-very good position: they have very low debt, they don't run large deficits, etc. They got a very large natural resource economy as well.
As a result, when the things come crashing down that the first two currencies that go to a gold backing are China and Russia.

Central Bank digital currencies Competition

China CBDC Pilot Program Beats West to the Punch.
Chinas Ministry of Commerce has announced the pilot run of the country's central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau.
Bitcoin and Facebooks Libra cryptocurrency may eventually be in competition with central bank digital currencies.
Source:www.securities.io, www.forbes.com