FedNow Approved. Interoperability with private-sector ASAP

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News Date: August 13, 2020

The Board of Governors of the Federal Reserve System (Board) has approved the FedNow Service.
The Federal Reserve is committed to using widely accepted standards in designing the FedNow Service to aid in accomplishing the key goals of achieving nationwide reach for instant payments and promoting interoperability with the existing private-sector service. To support these goals, the service will use the widely accepted ISO 20022 standard.
The Federal Reserve intends to launch the FedNow Service as soon as practicably possible. Although the target release date remains 2023 or 2024.
Sources:www.federalregister.gov, www.pymnts.com

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

President Donald Trump "All Currencies will be on an Even Level Playing Field"

All Currencies will be on an Even Level Playing Field much sooner than most people understand or think.
Here is a 3 minute snip from the ~30 minute press conference with PM Abe from Japan.
Go to 1:50 if you want the start of the exact statement:
Source:youtube.com

Gold price up as Fed begins historic ETF purchase program

The US central bank (FED) began purchasing ETFs holding corporate bonds for the first time ever Tuesday as part of its pandemic rescue package.
Such injections into the economy have generally lifted investor demand for safe-haven assets like the precious metal as fears of inflation and currency debasement grow.
Source:mining.com

A Monetary System as Good as Gold

The gold standard provides a better anchor for inflation expectations without an obvious cost in terms of lower output or higher unemployment.
The gold standard isn't perfect. No system is. But it has many virtues. A strong case can be made that it's the best of all feasible institutional alternatives. Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.
Source: www.aier.org

Gold Rush to Dump U.S Debt

As the world continues down the road of extreme uncertainty, investors and foreign central banks continue to turn to the oldest form of money as a measure of providing some stability, gold.
So far, in 2020, central banks have added a net of 181 tons of gold to their reserves. Gold continues to retain its position of being the most reliable store of value and means of exchange in times of extreme uncertainty. This should explain why several central banks plan on continuing to increase their gold reserves in 2020.
Example:www.goldtelegraph.com