Speeding up the BRICS - SCO payment system

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News Date: May 24, 2023

A new, "cutting-edge" payment system for the currencies of the Shanghai Cooperation Organization (SCO) and BRICS countries should be established as soon as possible, according to the chairman of Russia's National Economic Development Organization VEB.RF, Igor Shuvalov.
In his remarks at a Russian-Chinese Business Forum on Tuesday in Shanghai, Shuvalov emphasized the need for Russia and China to hasten the development of an effective payment system.
"We urge the government of the Russian Federation and our Chinese partners to act as actively as possible.
An independent and efficient infrastructure of payments is necessary not only for ensuring the "ruble/yuan" pair but also for carrying out the most serious transactions in SCO and BRICS currencies," said Shuvalov.

Corrupt Systems Implosion

Markets will have to absorb higher rates, and there is too much debt.
This is one of the best macro setups in history for Gold & Silver.
Precious metals will see dramatic wealth enhancement when inherently false & corrupt systems and currencies collapse under their own weight.
More money creation is just a masked form of bankruptcy in which default is "avoided" at the expense of the underlying currencies.
In such inevitable cycle-turns, the real advantage of precious metals will rest in their historical role as wealth preservation insurers.
The supply of these critical assets will make them harder to acquire.
The key, therefore, is to buy your insurance before rather than after the financial fire.
Source: youtube.com

The Bank of England closed, fire in WTC Brussels

Weird recent events:
World Trade Center in Brussels was on fire (Aug 6) and the Bank of England seems to be closed for several days.
The Bank of England is the central bank of the United Kingdom a huge international Rothschild bank.
Sources:www.youtube.com, www.google.com

Global political, economic, and financial restructuring

BRICS summit to discuss restructuring global political, economic architecture: S. African official.
A senior South African official said Tuesday that the BRICS summit to be hosted by the country this year will discuss how to restructure the global political, economic and financial architecture.
The 15th BRICS summit will take place this year in late August in South Africa's Durban.
Source: en.people.cn

HSBC introduces tokenized gold platform

HSBC is the First Bank in the World to Offer Tokenized Gold.
HSBC Holdings Plc, a major bullion bank, has introduced a platform that utilizes blockchain technology to tokenize ownership of gold stored in its London vault.
This platform generates digital tokens representing gold bars, making gold trading more accessible.
While initially targeting institutional investors, it plans to open up to retail investors where regulations allow.
HSBC's entry into the tokenized gold market is notable due to its significant role as a custodian of precious metals and a clearer on the London gold market.
The technology promises to streamline the process, allowing clients to easily track their gold ownership down to the serial number of each bar.
HSBC has been actively exploring blockchain technology and recently launched HSBC Orion, a tokenization platform for digital bonds, with successful applications in the market.

Central banks gold reserves switch

The central banks are increasingly concerned about inflation, and the major ones start giving out signals that they won't let inflation run too hot, even if it means slower growth.
In commodities, the upside potential in gold is more than just a safe haven hedge, as the rising geopolitical tensions and the latest sanctions imposed on the Russian central bank will bring the central banks around the world to reconsider their FX holdings, and start shifting towards a nationless gold.
Source: youtube.com