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

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Date: January 10, 2025

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.

Russia to test payments in digital currencies

Russia is ready to start testing payments in digital currencies with China or countries of the Eurasian Economic Union and will promote the idea with its partners,
Russian Finance Minister Anton Siluanov told state media in remarks published on Monday.
Siluanov: "We discussed this topic at the end of last year at the inter-ministerial dialogue."
He restated that any foreign acts involving Russian assets would be met with an equal response from Moscow.

Star Trek-like Replicator prints 3D objects

This is a new technique to 3D print entire objects in one go, by solidifying liquid resin with projected light.
Scientists have invented a 3D printer that uses light to transform gloopy liquids into solid objects.
Nicknamed the replicator after the Star Trek machine that makes things on demand, the device can create objects that are smoother and more complex than those made with standard 3D printers.
Sources:www.sciencefocus.com, www.youtube.com

What is Sound Money? Monetary reset

A somewhat polemical term for a currency backed by a tangible commodity such as gold, silver or platinum. Sound money has an intrinsic value, but is more susceptible to deflation than fiat money. Many countries used sound money throughout most of their histories; however, most countries today use fiat money and have since the United States left the Bretton Woods System in the 1970s. The term "sound money" is often used by those who favor its reintroduction. The more common term is hard money.
Given the current fiat money system is on a path towards its own destruction it is not surprising that there has been increasing talk of a monetary reset.
Sources:www.goldmoney.com, thefreedictionary.com

Trump's Operation Strategy Makes Sense Now

Donald Trump's latest tariff strategy is unfolding like a high-stakes chess game, and the pieces are falling into place just as some predicted. What began as a bold threat is now revealing its deeper intent: a calculated "operation" to reshape global trade dynamics and flex American economic muscle. In a recent video, I hinted this was coming-and here we are.
Nations are starting to buckle under the pressure. Several have already waved the white flag, scrambling to the negotiation table to avoid the sting of Trump's tariffs. India, for one, is mulling over slashing tariffs on more than half of its $23 billion in U.S. imports-a massive pivot that signals the operation's early success. Even Russia finds itself in the mix, with Trump holding off on tariffs as peace talks gain traction, hinting at a broader geopolitical play.
Not everyone's ready to fold, though. Some countries are digging in their heels, resisting the tariff onslaught. But mark my words: their surrender feels inevitable. The old guard-those entrenched elites who've long profited from the status quo-are getting a rude awakening. Billions are being shaken loose from their grip, and the system they've clung to is trembling.
The public's taking notice, too. A recent survey shows Trump's popularity surging amid the tariff panic, as his brash approach resonates with a growing base. His message is loud and clear: "ONLY THE WEAK WILL FAIL!" It's vintage Trump-unapologetic, unrelenting, and, for now, effective.
So, with the board still in play, here's the takeaway: Stay strong. Stay safe. This operation's just getting started.

Quantum computers will revolutionize financial services

Quantum computers leverage certain principles of physics that allow them to process information more effectively than the computers currently being used.
Businesses within the financial industry will benefit from this technology as quantum computers decrease risks, enhance customer services, and increase investment opportunities.
This innovation will transform the industry within the next years. Leaders and stakeholders in this field should act now, partnering externally and investing internally to make the most of quantum computers.
Source: bangkokbankinnohub.com