Unrestricted cross-border payment system introduced by Russia

Gesara.news » » Unrestricted cross-border payment system introduced by Russia

Share via:

Date: April 26, 2023

According to Russian Finance Minister Anton Siluanov, Russia is introducing a new payment system that is "bound by no restrictions" and will allow the use of digital currencies for international transfers.
In the past, the Bank of Russia predicted that in five to seven years, the entire system of cross-border payments will undergo a transition and be based on national digital currencies.

National coin shortage getting worse

The nation's coin shortage, prompted by less cash circulating as a result of Covid-19 - is getting worse.
And believe it or not, cash is still being used in 49% of payments that are $10 or below, according to a recent study by the Federal Reserve Bank of San Francisco.
The irony of the situation lies in the fact that the Fed can print trillions for bonds, but can't come up with a couple of quarters to do its laundry.
Sources:www.bloomberg.com, zerohedge.com

EO on the National Quantum Initiative Advisory Committee

Donald Trump signed an Executive Order on Establishing the National Quantum Initiative Advisory Committee at White House, August 30, 2019.
Quantum Information Science (QIS) is an emerging field with the potential to cause revolutionary advances in fields of science and engineering involving computation, communication, precision measurement, and fundamental quantum science.
Sources:www.whitehouse.gov, en.wikipedia.org

Quantum computing development

Researchers hope to create large-scale quantum computers within a decade.
Researchers at Japan Riken Center for Emergent Matter Science have achieved a major step forward in increasing the scalability of quantum computers.
Instead of simply incrementing the total qubits in a system, the researchers have demonstrated a triple-qubit, silicon-based quantum computing mechanism.
Another huge quantum computing breakthrough: New 100-qubit processor is built with atoms cooled down near to absolute zero.
By cooling atoms down to near absolute zero and then controlling them with lasers, a company has successfully created a 100-qubit quantum processor that compares to the systems developed by leading quantum players to date.
Sources: www.techradar.com, www.zdnet.com

Gold standard strategy and the collapse of dollar

The dollar is no longer pegged to gold, but it is still the world's reserve currency. Over 60% of the foreign bank reserves are currently held in US Dollars.
There have been efforts by numerous countries (led by China and Russia) to dethrone the US Dollar as the world's reserve currency. China has been reducing its exposure to the Dollar for a long time, and both China, as well as Russia, have been stocking up on gold in recent times.
Central banks added 650 tons to their reserves in 2019, the second highest shift in 50 years, after the 656 tons added in 2018. Before the 2007-09 financial crisis, central banks were net sellers of gold worldwide for decades. Leading the recent spree has been China, Russia, Turkey, Kazakhstan and Uzbekistan.
China can escape the fate of a dollar collapse by tying the yuan to gold. There is little doubt she has access to sufficient gold. Currently, her interest is to preserve the dollar, not destroy it, because it is the principal means of Chinese foreign interests being secured.
Sources: www.fxstreet.com, uk.news.yahoo.com, seekingalpha.com

Trump: Wonderful future lies ahead

President Donald Trump issued a Thanksgiving Day message:
A very interesting time in our Country, but do not worry, we will be great again-and we will all do it together.
America will never fail, and we will never allow it to go in the wrong direction.
Too many generations of greatness are counting on us.
Enjoy your Thanksgiving knowing that a wonderful future lies ahead!
Source: t.me/real_DonaldJTrump