Central banks voice support for gold reserves

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Date: October 15, 2024

At the London Bullion Market Association's annual conference in Miami, representatives from three central banks voiced support for increasing gold reserves.
Central banks are eager to diversify their holdings, citing financial and strategic reasons.
With rising inflation, geopolitical tensions, and economic uncertainty, gold is seen as a hedge against risk.
By boosting gold reserves, central banks aim to strengthen their balance sheets and reduce reliance on foreign currencies like the US dollar, signaling a collective shift toward prioritizing gold as a key asset.

RBZ will issue small gold coins for public

Zimbabwe's central bank will issue small gold coins for affordability by ordinary Zimbabweans.
Zimbabwe will release smaller units of gold coins into the market in November this year to respond to public demand, in a move seen to tackle the country's currency crisis through exchange rate stabilization.
'Following the successful launch of the gold coins on 25 July 2022 and in response to public demand, the Bank shall introduce and release into the market gold coins in units of a tenth ounce, quarter ounce, and half an ounce for sale with effect from mid-November 2022,' RBZ Governor John Mangudya said in his mid-term monetary policy statement released Thursday.
Sources: funancial.news

First Manned Flying Car

Japanese company successfully tested a manned flying car for the first time.
Sky Drive Inc., a Toyota-backed start-up with a mission for developing flying cars, has conducted the public demonstration on August 25, manned test flight of one its aerial vehicles after years of work. The SD-03, with its glossy white exteriors and sleek aerodynamic body, flew around Toyota Test Field, showing the world that such a thing as flying cars can exist beyond fantasy and fiction.
Sources:https://hypebeast.com

Birth certificates and Sight Drafts myth

When the United States went off the gold standard in 1933, the federal government somehow went bankrupt.
With the help of the Federal Reserve Bank, the government converted the bodies of its citizens into capital value, supposedly by trading the birth certificates of U.S. citizens on the open market.
After following a complicated process of filing UCC documents with either the Secretary of State of the persons residence or another state that will accept the filings, each citizen is entitled to redeem his or her "value" by filling out a sight draft drawn on their (nonexistent) TreasuryDirect account.
The scheme asserts that each citizens Social Security Number is also his or her account number.
As a part of the scheme, participants also file false IRS Forms 8300 and Currency Transaction Reports in the name of law enforcement officials and other individuals they seek to harass.
Drawing such drafts on the U.S. Treasury is fraudulent and a violation of federal law. The theory behind their use is bogus and incomprehensible. The Justice Department is vigorously prosecuting these crimes. Federal criminal convictions have occurred in several cases.
Sources: www.treasurydirect.gov

Russia supports Saudi Arabia membership in BRICS

Russian President Vladimir Putin said on Thursday that he supports Saudi Arabia's possible accession to the BRICS group.
Putin: Yes, we support. This requires a consensus of all countries.
Also, on 20 Oct, China voiced support for the expansion of BRICS membership after reports about Saudi Arabia showing its intention to join the group that presently comprises Brazil, Russia, India, China and South Africa.
Sources: see.news

International banking alliance using Ripple

National Australia Bank (NAB) has signed agreements with two leading global financial institutions:
- Israel's Bank Leumi;
- The Canadian Imperial Bank of Commerce (CIBC);
- to form an international banking innovation alliance.
It is partnering with the alliance using Ripple's blockchain network technology.
NAB is one of Australia's major 4 banks and forms an international bank innovation network.
Source: news.nab.com.au