The financial system is changing right now

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News Date: February 28, 2022

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

Judy Shelton is Right About the Gold Standard

Economist Peter Schiff expected that gold will resume its role in the global monetary system, that is, the countries of the world will return to the gold standard, and this is not strange in light of the economic crisis the world is witnessing.
It is simply false to claim that the gold standard was a source of perpetual economic chaos, and that we are better off today without it. All things considered, the gold standard is "superior in some respects and no worse in others." Rather than a "barbarous relic," as John Maynard Keynes famously called it, the gold standard is an instrument for economic harmony and civilized commercial relations.
Source:www.saudi24news.com, www.aier.org

Executive Order on Ordering the Selected Reserve of the Armed Forces to Active Duty

The Secretary of Defense is directed to order to active duty for not more than 365 consecutive days, any units, and any individual members not assigned to a unit organized to serve as a unit, of the Selected Reserve under the jurisdiction of the Secretary of Defense, not to exceed 200 Selected Reservists at any one time, as he considers necessary.
Source:whitehouse.gov

Putin Pledges an Equal and Indivisible Security System

Vladimir Putin has been inaugurated as President of Russia for his fourth term, adhering to the tradition at the Kremlin.
The ceremony highlighted Russia's commitment to dialogue with the West and emphasized the nation's security interests.
Putin reiterated the importance of equal footing in discussions and the pursuit of a multipolar world order.
His presidency will last until 2030.
"Together with our partners in Eurasian integration and other sovereign development centers, we will continue to work to form a multipolar world order, equal and indivisible security system," Putin said at the ceremony.

Banks in Big Trouble. Seismic events on the horizon

Banks are making desperate moves. Wells Fargo is shutting down all existing personal lines of credit in the coming weeks and no longer offers the product.
The role of commercial banks in the global economy is changing, with lending to governments and their agencies now more important than lending to goods and services industries. It is a trend which is due to continue.
The new Basel 3 regulations seem set to encourage this trend, despite retail depositors being accorded a stable funding status. Central bank digital currencies are anticipated to augment and perhaps replace non-financial business credit over the next five to ten years.
But the increasing financialisation of commercial banking brings the risk of tying its future firmly to a financial bubble. And with price inflation on the increase, it is only a matter of very little time before that bubble bursts.
Sources: www.cnbc.com, www.goldmoney.com

United States and China are seeking debt relief measures

The United States and China are in frequent discussions to prevent emerging market sovereign defaults.
Talks include preemptive measures such as extending loan periods to ease the annual debt service burden of over US$400 billion for poor countries.
Ideas also involve increased financing from the World Bank and others to address high borrowing rates.
The aim is to implement these measures before countries default and enter formal restructuring talks with creditors.
The Treasury Department: "we talk frequently with China about sovereign debt concerns.
And we talk to many countries about how to make sure the international financial architecture is meeting low-income country financing needs".