FedNow alongside private sector Service

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News Date: August 6, 2020

Fed announces details of the FedNow interbank service.
The FedNow Service will be available to banks in the United States and will enable individuals and businesses to send instant payments any time of day, any day of the year through their bank accounts.
The target launch date for the service remains 2023 or 2024, with a more specific time frame to be announced after additional work is completed.
The FedNow Service, alongside similar services provided by the private sector, will modernize the U.S. payment system and bring the benefits of instant payments broadly to communities across the country.
Sources:www.federalreserve.gov

The BRICS digital payment system advances

October 17 update:
BRICS Pay officially unveils a new demo, according to its official website.
Users can test it at the BRICS Business Forum in Moscow, linking a one-time QR code card in the app and receive 500 rubles for purchases at BRICS Pay-labeled stores.
October 12 update:
Russia has proposed a new cross-border payment system at a BRICS meeting in Moscow.
The plan includes using local currencies, direct links between central banks, and distributed ledger technology (DLT) for faster, more secure settlements.
It also suggests creating trade centers for key commodities like oil and gold.
This comes ahead of the BRICS summit in Kazan, scheduled for October 22-24.
Older news:
Russia is advancing its plans for a BRICS digital payment system, according to Valentina Matviyenko, the Federation Council Speaker.
In response to sanctions and being cut off from SWIFT, the Bank of Russia has developed its own payment system, which has already seen participation from several countries.
Matviyenko announced that progress on the BRICS digital payment platform is ongoing.
"The creation of the independent financial payment platform BRICS Bridge, a standalone mutual payment system on a firm joint platform, is now being discussed within BRICS.
I have spoken both with the Central Bank and the Finance Ministry, things are moving along nicely," she said in a press conference.

BRICS planning SWIFT competitor

The BRICS nations, have announced plans to establish their own money-transferring network, aiming to challenge the SWIFT international payment system.
Russian Finance Minister Anton Siluanov revealed this ambitious strategy in an interview with TASS news agency.
This initiative is geared toward enabling seamless cross-border transactions among BRICS member countries, reducing costs and risks associated with external financial intermediaries.
It also seeks to promote the use of BRICS currencies in international trade, potentially diminishing the dominance of the US dollar.
The BRICS network aims to rival SWIFT's capabilities by developing advanced payment infrastructure and cybersecurity measures.
While benefiting BRICS nations, it could also enhance competition and efficiency in the global financial system, benefiting businesses and individuals worldwide.
This move signifies the BRICS nations' determination to reduce reliance on Western financial systems and assert more influence in global finance.

Debt relief for middle-income countries

The President of the UN General Assembly advocates for debt relief for middle-income nations.
Csaba Korosi, president of the UN General Assembly, called for debt relief and fair access to new technology for middle-income nations on Thursday.
He stated at a high-level meeting of the General Assembly on middle-income countries that the 110 middle-income countries, which make up roughly one-third of the global GDP and three-quarters of the world's population, are the main forces behind global development.

DOGE-NESARA Connections

November 28, 2024 update:
Elon Musk says the Department of Government Efficiency will audit the IRS.
Older news:
This post explores the reforms proposed by the Department of Government Efficiency (DOGE) in connection with NESARA.
The Department of Government Efficiency is a proposed United States presidential advisory commission announced by Donald Trump.
Elon Musk and Vivek Ramaswamy have been named as key figures in charge of the initiative.
They have directly discussed plans to eliminate entities such as the Internal Revenue Service (IRS) through Executive Order.
During his 2023 campaign, Ramaswamy also proposed reducing the Federal Reserve's staff by 90% and introducing a commodity-backed currency modeled after the BRICS framework.
The Wall Street Journal posted that Trump Treasury pick Scott Bessent to prioritize tax cuts.
Elon Musk posted that ending the FED is necessary following the online initiatives of Ron Paul regarding the Federal Reserve.

Gold Standard hinted by the US Debt Clock

While gold hit a new all-time high, the US Debt Clock displayed an interesting new message:
James Madison: "History records that the Money Changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance."
The Fed, IMF, and World Bank are crossed out!
Under these, it is suggested that "Debt free currency", the gold and silver standard will be active.
See also: FED takeover hinted by the US Debt Clock