Trump is meeting with an ex-bank CEO

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News Date: April 29, 2020

Donald Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard. Trump met with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute.
Source:Businessinsider.com

US Patent for Quantum computing in business problems

Accenture Awarded US Patent for Combining Classical and Quantum Computing with Potential to Address Previously Unsolvable Business Problems.
Quantum computing has the potential to solve complex business problems millions of times faster than classical computing by leveraging the properties of quantum physics to process multiple computing tasks in parallel.
Accenture new patent - U.S. Patent No. 10,095,981 - reveals how businesses could take advantage of the best aspects of both classical and quantum computing techniques to enable breakthrough solutions to problems that could not be solved before.
Sources: www.businesswire.com

Audit the Fed bill reintroduced

U.S. Senator Rand Paul (R-KY) has reintroduced the Federal Reserve Transparency Act, also known as the "Audit the Fed" bill, aiming to prevent the Federal Reserve from withholding vital information on its operations from Congress.
Paul contends that the inner workings of the Federal Reserve are currently obscure and largely unknown, and he believes that increased transparency is crucial for better understanding and oversight.
The legislation underscores the importance of making the Federal Reserve more accountable to Congress and the public, ensuring that its decision-making processes and financial transactions are subject to thorough scrutiny.
"No institution holds more power over the future of the American economy and the value of our savings than the Federal Reserve. It's long past time for Congress to stop shirking its duty and hold the Federal Reserve accountable.
The Fed's persistent cycle of money printing and lending without any form of meaningful oversight may be the cause of many of our economic hardships, such as the struggle of many Americans to afford food."
he stated.

New Financial System

IMF member countries are receiving their shares of new SDRs, of about US$650 billion, the largest in the funds history! This is a shot in the arm for the world and will help bolster confidence and strengthen the resilience of the global economy.
The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The SDR is not a currency. It is a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
A SDR is not a loan & is cost-free for all IMF members. Unlike an extended fund facility, the government does not have to request any arrangement & there is no repayment involved. All member countries can use their allocated SDRs unconditionally.
IMF urges wealthy nations to direct $650 billion SDR share to vulnerable countries.
Zimbabwe to use more than half of IMF funds to prop up the currency.
Sources: twitter.com, www.today.ng

Russian Gold-backed Stablecoin Confirmed

Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit.
Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted.
The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative.
Source: bitcoin.com

Russia, Iran to develop alternative to SWIFT

Russia and Iran have been cooperating to connect their interbank messaging systems in order to bypass the SWIFT financial transactions network, Kazem Jalali, Ambassador of Iran to Russia, said on Thursday.
SWIFT is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes.
Both countries are facing severe Western sanctions, making settlements in trade through SWIFT difficult or impossible.
Source: www.siasat.com