More fair global governance

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News Date: December 21, 2022

Russia's Medvedev meets China's Xi in Beijing.
Former Russian president has undertaken a surprise trip to Beijing and held talks with Chinese President Xi Jinping during which he said they discussed strategic partnership.
'China is ready to move closer to Russia for the sake of more fair global governance' -Xi Jinping.
Sources: reuters.com

Rep. Buddy Carter introduced a bill to eliminate the IRS and federal income tax

On January 3, 2025, Congressman Buddy Carter (R-GA) introduced H.R. 25, known as the FairTax Act of 2025.
This legislation proposes a significant overhaul of the U.S. tax system by eliminating the Internal Revenue Service (IRS) and replacing federal income taxes with a national consumption tax.
The FairTax Act aims to repeal existing personal and corporate income taxes, as well as other federal taxes such as the death tax, gift taxes, and payroll taxes. In their place, it would implement a single national sales tax on retail purchases, administered primarily by the states. Proponents argue that this system would simplify the tax code, promote economic growth, and allow individuals to retain their entire paychecks, paying taxes only when they make purchases.
Congressman Carter has been a longstanding advocate for the FairTax, having previously introduced similar legislation in earlier sessions of Congress. He contends that the current tax system is overly complex and burdensome, and that the FairTax would eliminate the need for the IRS, thereby reducing government intrusion into individuals' financial affairs.
The bill has been referred to the House Committee on Ways and Means for further consideration.

PayPal, Venmo to Roll Out Crypto Buying and Selling

Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users, according to three people familiar with the matter.
Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this would be a first in terms of offering direct sales of crypto.
Source:coindesk.com

Central Banks lost control! Gold currency trust

Major central banks have totally lost control and the world economy is now floating around helplessly without direction.
Since sound money must be scarce, fiat money can never be sound since unlimited amounts can be and have been created. One of the very important features of gold is that it is scarce. The total global gold stock only increases by 1.7% or 3,000 tones per annum.
So scarcity is one of the important reasons why gold is the only currency that has survived in history.
Source:www.zerohedge.com

Trump’s Treasury Chief Guides the Global Financial Reset

May 7, 2025: Treasury Sec. Scott Bessent at House Financial Services Committee: 'We believe the US should be the premier destination for digital assets. Digital assets are an important source of innovation that can drive usage of the U.S. dollar around the world with stablecoin legislation'
Also announced China trade negotiations start Saturday without Navarro, expecting tariff reductions & action on currency manipulation.
April 22, 2025: imf.org - The global economic system under which most countries have operated for the last 80 years is being reset, ushering the world into a new era. Existing rules are challenged while new ones are yet to emerge.
April 23, 2025: Treasury Secretary Scott Bessent announced that the Trump administration will push for reforms at the IMF and World Bank to create a more sustainable global economic system, rather than withdrawing from these institutions.
Speaking at the IMF and World Bank spring meetings, Bessent emphasized stronger U.S. leadership and major institutional changes to restore balance to the global financial system. He criticized the IMF for focusing on climate, gender, and social issues while neglecting accountability for economic reforms in borrowing countries. Bessent stressed that the U.S. seeks to enhance its role in these organizations, provided they adhere to their core missions.

FedNow alongside private sector Service

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