Central banks gold reserves switch

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News Date: March 11, 2022

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

Polyus gold miner to switch the currency to rubles

Polyus wins bondholder approval to switch currency for Eurobond payments.
Russia's largest gold miner Polyus has received permission from holders of three Eurobonds to make payments on the debt in Russian roubles or another alternative currency, the company said on Friday.
Sources: reuters.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

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The digital ruble test will begin in August

Update as of 24 July: Putin signed a law to introduce the digital ruble, which will take effect on August 1.
Interesting timing, think August, it's going to be absolutely epic!
According to the central bank, Russia will begin testing a digital version of its rouble currency with consumers in August, according to a report published on Tuesday by the Interfax news agency.
Russia has been creating digital currency over the past few years, as have many other nations, in an effort to modernize their financial systems and fend off cryptocurrencies.
August is also the month BRICS plans to introduce a new gold-backed trading currency at the Johannesburg summit.

First-ever cross-border settlement for precious metals

The Bank of China Shanghai Branch achieved a historic milestone by conducting the first-ever cross-border settlement for precious metals using the digital yuan (e-CNY) on December 20.
Collaborating closely with the Shanghai Gold Exchange, they executed a 100 million yuan digital renminbi transaction, marking a significant advancement in the financial factor market.
This successful initiative demonstrates the practical application of digital currency in cross-border transactions for precious metals and sets a precedent for future developments in this space.