Iran and Egypt signed a memorandum to join SCO

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News Date: September 18, 2022

The Shanghai Cooperation Organization (SCO) is an intergovernmental organization founded in Shanghai on 15 June 2001.
After 21 years, the organization has become not only a strong pillar of global peace and development but also a major force for international equity and justice.
The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia) and six 'Dialogue Partners' (Azerbaijan, Armenia, Cambodia, Nepal, Sri Lanka and Turkiye).
Egypt and the Shanghai Cooperation Organization (SCO) on Wednesday signed a memorandum of understanding on Egypt's accession to the organization as a dialogue partner ahead of the summit of heads of state and government of the organization's member states scheduled to be held in Samarkand, Uzbekistan, on 16 September.
Also, Iran has signed a Memorandum of Obligations to become a permanent member of the SCO, the Iranian foreign minister said.
Sources: dailynewsegypt , azertag

The Central Bank of China Extends Gold Buying

China Extends Gold Buying With Fresh Flows to Central Bank.
The People's Bank of China raised its holdings by 30 tons in December, according to data on its website on Saturday.
This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons.
Sources: bloomberg

The Defund Davos Act

A group of House Republicans, led by Scott Perry have introduced the Defund Davos Act, seeking to halt federal funding to the World Economic Forum (WEF).
With the U.S. having spent tens of millions on the WEF over the years, GOP lawmakers argue for redirecting funds to domestic priorities.
The legislation underscores concerns about taxpayer money supporting an international forum that may not align with American interests.
The move is sparking debates in Congress over fiscal responsibility and the country's role in global initiatives.

The Birth of a New Currency by Ron Paul

Ron Paul was the leading champion of sound money in all his years while in the United States Congress. Here he explains why sound money has meant the gold standard. Paul maps out a plan to bring about a dollar that would be protected against manipulation by government and central bankers. This monograph first appeared in 1981, and it has been in wide distribution ever since.
Source: www.youtube.com

Satellite Communications transferred to Space Force

Space Force Takes Over All Military Satellite Communications.
The Army transferred some of its satellite operations to the Space Force on Monday, marking the latest move to reorganize and grow the youngest military branch.
This historic transfer from the Army to the Space Force will mark the first time all Department of Defense military satellite communication functions have been consolidated under single military service.
Sources: military.com

US Jobs Data could Trouble the Market

Goldman: The Market's Reaction To The Jobs Report Means Brace For A Stubborn Grind Higher In September.
Unusually large U.S. jobs number stokes case for 'unusually large' rate hike.
Friday's 'Great' Jobs Number Could Spell Trouble For The Market.
'Great' US Jobs Data Make Case for Bigger Fed Rate Increases.
Bond markets complicate Fed decision after jobs report.
There is a probability of a 0.75% move in September, a noticeable change from the 0.50% move markets were pricing prior to Friday's jobs report.
Sources: substack, finance.yahoo