China is closer to the gold standard

Gesara.news » News » China is closer to the gold standard

Share via:

News Date: October 21, 2023

Update from November 1st:
China Securities Index Co launched two gold-linked stock indices to cash in on surging demand for exposure to the safe-haven metal.
The new indexes include shares of global gold miners such as Newmont Corporation and Barrick Gold.
In response to Western responses to military conflicts, Chinese government-affiliated researchers are considering several strategies for China.
One is the issuance of gold-denominated bonds, supported by gold reserves, which would bolster economic resilience and establish China as a stable global player.
Another approach involves creating a global network of Chinese companies to diversify trade relationships and reduce vulnerability to sanctions.
Additionally, seizing American assets within China is seen as a retaliatory measure to protect Chinese interests and discourage unilateral actions by the U.S.
These strategies reported through Reuters collectively aim to ensure China's economic stability and global influence in an evolving geopolitical landscape.

BRICS tested Hack-proof quantum communication link

China and Russia collaborated on a groundbreaking test for a hack-proof quantum communication link using the Mozi satellite.
This achievement, based on quantum mechanics principles, promises secure data transmission.
A quantum researcher emphasized its crucial role in technological leadership, stating that without quantum technology, success may be unattainable.
This test marks a significant leap in secure information exchange, crucial for BRICS countries and global security.

FinX tap into the QFS via Stellar

Have you Heard about the FinX token in the stellar network, a new token implemented in the new quantum system that we are moving to?
FinX was started as an initiative to support the integration of retail users into the Quantum Financial System.
FinX is a decentralized network based on sovereignty and commerce. Its goal is to provide a platform optimized for the upcoming Quantum Financial System and enterprise-ready tokens to be used in the new generation of Blockchain.
Their goal is to tap into the QFS (Quantum Financial System), the new global network for the transfer of asset-backed funds, and replaces the centrally controlled outdated SWIFT Systems. FinX assets are created within the Stellar.
Sources: finx.org

Saudi Arabia joins SCO

Riyadh joins Shanghai Cooperation Organization as ties with Beijing grow.
Saudi Arabia's cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns.
(Reuters)

Supreme Court could hit the tax system

The Supreme Court's decision to hear a pivotal tax case has profound implications for the future of the U.S. tax system.
At stake is the constitutionality of a proposed wealth tax, which could address economic disparities or dismantle key aspects of the existing tax framework.
A favorable ruling may promote social equity, while an adverse outcome could preserve individual economic freedom.
The case underscores the delicate balance between economic growth and fairness, making it a crucial moment in the nation's fiscal history with far-reaching implications.
The Supreme Court is expected to issue a decision by June 2024.

Trump Allies Target Fed's Independence: WSJ

Some members of Trump's team are devising plans to restructure the Federal Reserve, which could grant the president direct influence over interest rate decisions and potentially remove the current Fed Chair, Jerome Powell, from office before his term ends in 2026.
This move is part of a broader strategy by Trump's allies to diminish the Federal Reserve's independence if he secures a second term, amidst internal disagreements among his advisers on how forcefully to challenge the central bank's authority.
> WSJ report<
This effort follows the federal government's actions in 2020, during Trump's tenure, where large portions of the financial markets were nationalized, with the Federal Reserve providing the necessary funds.
Notably, BlackRock was entrusted with executing the trades, effectively merging the Federal Reserve and Treasury into a singular entity.