Chinese, Russian payment systems consultations

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News Date: May 5, 2022

Chinese and Russian central banks to discuss the use of national payment systems.
The Chinese and Russian central banks will discuss the use and promotion of their respective national payment systems in both countries, Beijing's envoy to Moscow told the TASS news agency in an interview published on Thursday.
Russian banks may issue cards with China as Visa, and Mastercard cut links.
The use of the Mir and China UnionPay national payment systems in both countries will be decided by the two sides' central banks at consultations.
Sources: reuters.com

Dollar standard rejected in the era of gold

Peter Schiff said he thinks we are about to see a gold bull market rivaling the 1970s because the world is going to reject the dollar standard and go back to a gold standard.
Ray Dalio:Within the next five years you could see a situation in which foreigners who have been lending money to the United States wont want to, and the dollar would not be as readily accepted for making purchases in the world as it is now.
Sources:twitter.com, www.zerohedge.com

The Reserve Bank of India has increased its gold reserve

There was a sharp jump in the foreign currency assets and gold reserves.
All components in forex reserves climbed with gold reserves outperforming foreign currency assets (FCA) in the week.
RBI announced key measures that are likely to protect the Indian rupee at the interbank forex market and further drive the reserves.
The value of gold reserves rose by $1.140 billion to $39.642 billion during the week ended July 29.
This is the highest monthly purchase since September 2021.
Sources: livemint.com

American Sovereignty Restoration Bill

H.R.204 - American Sovereignty Restoration Act of 2019:
This bill directs the President to terminate U.S. membership in the United Nations (U.N.) and all affiliated bodies. It also ends U.S. participation in all U.N. conventions and agreements.
Funds may be appropriated to facilitate U.S. withdrawal from the U.N. No funds may be made available for contribution to or paid to any U.N. body. No member of the U.S. Armed Forces may serve under U.N. command, and no funds may be used to support Armed Forces participation in U.N. military operations.
President Donald Trump spoke to the 74th session of the United Nations General Assembly. He said "The future does not belong to globalists, the future belongs to patriots."
Sources:www.congress.gov, www.youtube.com

Prepaid Debit Cards, Digital Dollars To Each American

Unprecedented Monetary Overhaul: Cleveland Fed president Loretta Mester Hints Fed Is Preparing To Deposit Digital Dollars Directly To Each American.
If anyone has actually been paying attention. This was announced months ago. Trump debit cards on the way!
Treasury Secretary Steve Mnuchin shows the new prepaid debit card that will be sent to Americans receiving coronavirus relief.
Sources:www.youtube.com, www.zerohedge.com

The financial system is changing right now

Russian minister says: we are working on digital One World One Currency for trade - local media.
Russian financial messaging system will be able to replace SWIFT - financial infrastructure will work smoothly - Russian Central Bank Chair.
Stocks booming in Chinese SWIFT alternative - CIPS.
The Cross-Border Interbank Payment System (CIPS) is a payment system that offers clearing and settlement services for its participants in cross-border RMB payments and trade.
It is a significant financial market infrastructure in China.
CIPS is sometimes referred to as the China Interbank Payment System.
Bank of Russia Resumes Gold Buying After Two Years on Sidelines.
Russia-Ukraine war is 'a financial war now': Deutsche Bank