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Central banks chiefs out

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News Date: October 20, 2021

With Angela Merkel on her way out as Chancellor, her former chief economic advisor, Jens Weidmann, announced plans to step down at the end of the year as head of Germany's Bundesbank after a decade at the helm of the national central bank.
Dallas Fed President Kaplan and Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Former Iranian Central Bank Chief Handed 10-Year Prison Sentence.
Slovakia's central bank chief and European Central Bank governing council member Peter Kazimir has been charged with corruption.
Philippine central bank Governor Benjamin Diokno said he is with "team transitory" and that it is more prudent for the country to delay monetary tightening.
The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country's central bank.
So, central bank are starting to worry. They were wrong about inflation because they were wrong about supply chains, and they were perhaps wrong about labor markets, which they had just taken years to learn had no serious bargaining power.
To be continued... Stay Tuned!.
Sources: www.cnbc.com ,gesara.news

The two US Constitutions

There are two Constitutions in the United States. The first penned by the leaders of the newly independent states of the United States in 1776. On July 4, 1776, the people claimed their independence from Britain and Democracy was born. And for 95 years the United States people were free and independent. That freedom ended in 1871 when the original "Constitution for the united states for America" was changed to the "THE CONSTITUTION OF THE UNITED STATES OF AMERICA".
The flag of Washington's District of Columbia has 3 red stars, each symbolizing a city state within the three city empire. The three city empire consists of Washington D.C., London, and Vatican City.
Source: www.nationallibertyalliance.org

XRP the Ripple force in the Federal Reserve projects

Fed Faster Payments Task Force gives Ripple vote of confidence for next gen of global payments.
Ripple's Executive Elected to Fed's Faster payments Task Force.
The desired outcomes focused on speed, security, efficiency, cross border payments, and industry collaboration.
Source:ripple.com

What is the Gold Standard

Gold standard, monetary system in which the standard unit of currency is a fixed quantity of gold or is kept at the value of a fixed quantity of gold. The currency is freely convertible at home or abroad into a fixed amount of gold per unit of currency.
In an international gold-standard system, gold or a currency that is convertible into gold at a fixed price is used as a medium of international payments. Under such a system, exchange rates between countries are fixed; if exchange rates rise above or fall below the fixed mint rate by more than the cost of shipping gold from one country to another, large gold inflows or outflows occur until the rates return to the official level.
President Franklin Roosevelt suspended the gold standard in 1933, a move which is widely credited with helping the country climb out of the Depression.
Sources: youtube.com, www.cbsnews.com

Government shutdown averted through December

Shutdown averted: Senate passes continuing resolution to keep US government open through December.
The US Senate approved a stopgap funding bill Thursday in a rare show of cross-party unity to avert a crippling government shutdown and keep the lights on for another two months.
Sources: www.rt.com

Quantum computing to crack cryptocurrency in 8 years

Ripple CTO David Schwartz says quantum computing poses a serious threat to the future of cryptocurrency.
Schwartz says he thinks developers have at least eight years until the technology, which leverages the properties of quantum physics to perform fast calculations, becomes sophisticated enough to crack cryptocurrency.
Source:www.crypto-news-flash.com

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