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

FedNow Approved. Interoperability with private-sector ASAP

The Board of Governors of the Federal Reserve System (Board) has approved the FedNow Service.
The Federal Reserve is committed to using widely accepted standards in designing the FedNow Service to aid in accomplishing the key goals of achieving nationwide reach for instant payments and promoting interoperability with the existing private-sector service. To support these goals, the service will use the widely accepted ISO 20022 standard.
The Federal Reserve intends to launch the FedNow Service as soon as practicably possible. Although the target release date remains 2023 or 2024.
Sources:www.federalregister.gov, www.pymnts.com

Trump predicts a market crash in the next 12 months

Former President Donald Trump anticipated a US economic crash and expressed a hope that it would happen within a year, prior to a potential second term in office, if he were to win the November election.
'When there's a crash, I hope it's going to be during this next 12 months because I don't want to be Herbert Hoover. The one president - I just don't want to be Herbert Hoover,' Trump stated in an interview Monday on Lindell TV.
In 1929, during Herbert Hoover's first year as president, the US stock market crashed, triggering the start of the Great Depression, leading to widespread economic hardship and unemployment across the nation.

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.

Happy birthday, mister President!

President Donald Trump celebrates his 75th birthday today, June 14.
In the United States, Flag Day is celebrated on June 14. It commemorates the adoption of the flag of the United States on June 14, 1777.
Happy birthday, President Trump! Have a good one! You are going to be a winner in Arizona today.
Sources: thegatewaypundit.com

World Bank President:China needs to participate in debt relief

World Bank President David Malpass said that the Chinese government and its creditors need to participate in coordinated efforts to provide debt relief to the world's poorest countries, as China has become a major creditor to the developing countries of the world.
Source:finance.yahoo.com