China increased Russian gold import

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News Date: August 26, 2022

Russian Gold Rerouted to China Amid Western Ban.
China imported $108.8 million worth of Russian gold in July - a 750% increase from June and a 4,800% increase from the same month last year.
China may be just one of several important new destinations for Russian gold in Asia and the Middle East.
Source: themoscowtimes.com

BRICS Considers a global Stablecoin

BRICS nations are considering a stablecoin for international trade settlements.
Sergei Ryabkov, Russia's Deputy Foreign Minister, hails this move as groundbreaking.
He also states that BRICS is also exploring a platform for digital payments.
Ryabkov: "BRICS is moving forward, creating an important precedent."
Russia has also hinted at issuing a gold-backed stablecoin.
With member nations amassing gold reserves, the idea gains traction.

Trump's objective is to abolish the IRS

February 25, 2025:
Doug O'Donnell, the acting head of the IRS, is set to announce his retirement amid significant disruptions at the agency. His departure follows recent layoffs initiated by the Trump administration and an attempt by personnel from the Department of Government Efficiency (DOGE) to access taxpayer data. The move comes at a time of mounting challenges for the tax collection agency.
February 20, 2025:
Commerce Secretary Howard Lutnick stated on Fox News that President Trump's objective is to abolish the IRS, aligning with his broader vision of replacing federal income taxes with tariffs on foreign nations.
Lutnick emphasized that the administration aims to balance the U.S. budget by the end of Trump's term, reinforcing Trump's economic and fiscal agenda.
"I am so pumped up for it," Lutnick declared on Jesse Watters Primetime, highlighting plans for an "External Revenue Service" to oversee alternative revenue sources.

The World toward a multi-currency system

Nations like Russia and China are now leading the charge from a one-currency world to a multi-currency world of import payments.
Russia, for example, can take its energy profits and Rubles to purchase the currencies of friendly countries like China, India, and Turkey to rebuild its reserves outside of the USD.
The old world is slowly but surely turning irreversibly away from a USD-dominated currency system toward a multi-currency and multi-FX pricing model.
Source: goldswitzerland.com

Ghana Launches Gold Coin to Boost Savings

The Bank of Ghana has introduced a new gold coin to enhance money-market liquidity and promote domestic savings.
Made from locally mined gold, the coin is refined to 99.99% purity.
It is issued and guaranteed by the central bank, with three available sizes: one ounce, half ounce, and quarter ounce, according to Governor Ernest Addison.
The initiative aims to strengthen Ghana's financial market and savings culture.
"The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank's bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana???s domestic gold purchase program." Addison said.

The largest-ever BRICS summit

In October 2024, Russia will host the largest-ever BRICS summit in Kazan, as announced by President Vladimir Putin.
The choice of Kazan underscores Russia's commitment to fostering collaboration among the BRICS nations.
Events will also be held in the well-established BRICS+ format, Putin stated.
The summit aims to address global issues, strengthen diplomatic ties, and explore enhanced cooperation, adding a unique cultural and historical dimension to the proceedings.