Coin shortage hits retailers, laundromats, tooth fairy
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News Date: August 18, 2020
The national coin shortage has been an unusual side effect of the pandemic. Among its victims? Retailers, laundromats and even the tooth fairy.
Retailers large and small have urged shoppers to use cards or exact change whenever possible.
As the shortage persists, it's become clear that there are still some conundrums that only coins can solve.
Source:www.foxbusiness.com
Congress letter to encourage the Treasury to utilize blockchain and DLT
Eleven members of Congress are calling on the U.S. Treasury Department to look at new technologies, including blockchain and distributed ledger technology (DLT), to help streamline how cash and supplies are distributed under a federal law trying to boost the economy during the COVID-19 crisis.Source:coindesk.com
US Sanctions Risking systemic collapse
Russia could ask for rubles or gold in exchange for energy. If that occurred Europe would have little choice. The real leverage in the Petrodollar system is on the 'petro' side.It will be interesting to see how this develops. If energy payments begin moving outside of the SWIFT system, then the Petrodollar will be severely damaged.
Regardless, it's going to be disruptive and we're going to see additional problems. Very likely we will see further money printing and more stagflation.
The United States' attempts to simultaneously take on both Russia and China is a bad idea. We're forcing the two of them together while Europe is trying to play both sides. This situation will end with China and Russia gaining status.
Russian citizens have also been buying gold. This crisis will hurt their citizens, but this isn't Russia's first rodeo. The fact that Putin has done this either means he's lost his mind or he has a plan and found a window of opportunity.
We could see serious spillover effects on bonds and real yields.
The United States can't afford higher rates, and they can't remove Russia's oil without destroying their own markets.
We could see big changes should Russia use their gold as leverage. Possible scenarios that could occur should gold be revalued.
Source: youtube.com
Saudi Arabia wants to join BRICS
South African president says Saudi Arabia wants to join BRICS.Cyril Ramaphosa revealed this during his two-day state visit to the kingdom on Sunday.
The BRICS nations are going to be meeting in a summit next year under the chairship of South Africa.
And the matter is going to be under consideration.
Sources: insiderpaper.com
Putin vows development, security and a strong monetary system
Russian President Vladimir Putin said the motto of Russia's 2024 BRICS chairmanship is 'strengthening multilateralism for equitable global development and security', focusing on positive and constructive cooperation with all countries involved.Moscow intends to strengthen BRICS's position in the global monetary system, Putin added Monday at the beginning of 2024 BRICS chairmanship:
'We will contribute to the practical implementation of the Strategy for BRICS Economic Partnership 2025 and the Action Plan for BRICS Innovation Cooperation 2021-2024 for ensuring energy and food security, enhancing the role of BRICS in the international monetary system, expanding interbank cooperation and expanding the use of national currencies in mutual trade.'
Islamic finance embraces fintech with gold-backed debit card
Wahed opens London office, launches gold-backed debit card for Muslims.Gold-backed debit cards and wealth management offers a form of banking that is free from interest, speculation, and inflationary currencies.
Source: finance.yahoo