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Economic security is national security

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News Date: July 11, 2020

President Donald Trump: We Cannot Have National Security Without Economic Security.
A Nation that does not protect prosperity at home cannot protect its interests abroad.
Under the banner of "economic security is national security," the Trump administration's corporate tax cuts now spur investment and catalyze innovation.
Sources: youtube.com, whitehouse.gov

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

BRICS Common Currency report

The planned BRICS cross-border currency is an important step in challenging the dominance of the U.S. dollar, according to Zhou Yu, director of international finance Research at the Shanghai Academy of Social Sciences, revealed a recent report from China's Global Times.
Zhou states that the recent moves to support local currency settlement have given the BRICS countries a competitive advantage in reducing the dominance of the dollar in international trade.
Iran, Argentina, Saudi Arabia, Turkey, and Egypt are among the potential countries to join and adopt the BRICS currency in 2023.

Supreme Court could hit the tax system

The Supreme Court's decision to hear a pivotal tax case has profound implications for the future of the U.S. tax system.
At stake is the constitutionality of a proposed wealth tax, which could address economic disparities or dismantle key aspects of the existing tax framework.
A favorable ruling may promote social equity, while an adverse outcome could preserve individual economic freedom.
The case underscores the delicate balance between economic growth and fairness, making it a crucial moment in the nation's fiscal history with far-reaching implications.
The Supreme Court is expected to issue a decision by June 2024.

Principles of BRICS expansion

Russian Foreign Ministry: BRICS countries discuss principles of alliance expansion.
Ivan Nechayev, deputy director of the information and press department of the Russian Foreign Ministry, said at a briefing on Thursday, August 11, that the establishment of criteria for the accession of new BRICS members is already underway.
Iran and Argentina applied to join the BRICS, and later it became known that Turkey, Egypt, Saudi Arabia, Nigeria, and Algeria would also like to become part of the alliance.
In addition, Cuba's ambassador expressed the need for economic cooperation with the BRICS.
Sources: tvbrics.com

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.

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