The FED announces a new upgraded system

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Date: October 12, 2022

The Federal Reserve Board announced that it will replace its current bank application filing system with a new and upgraded system later this month.
The substantive requirements of applications will remain the same with the new system making the filing process more intuitive and minimizing paper applications and communications.
Sources: federalreserve.gov

BIS invites comments on ISO 20022 harmonisation proposals

With most of the world's payment systems adopting the ISO 20022 messaging standard by 2025, the coming years will be crucial for converging on its harmonized use to fully leverage its full potential to make cross-border payments faster, cheaper, and more transparent.
The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) has worked with financial industry representatives to facilitate a harmonized adoption and use of ISO 20022 for cross-border payments.
The CPMI invites comments on this consultative report.
Source: bis.org

Iraq, one more brick to GESARA

The Iraqi Prime Minister has expressed interest in joining BRICS, pending an invitation from the founding members, showcasing Iraq's desire to strengthen its global ties.
Furthermore, Iraq is set to ban cash withdrawals and U.S. dollar transactions from January 1, 2024, signaling a shift in its financial strategy and greater economic autonomy.
These developments underline Iraq's proactive stance in international affairs.
The Iraqi Dinar (IQD) is experiencing a significant surge in the Foreign Exchange (FOREX) market, marking a turning point for Iraq's currency.
Several factors, including economic recovery, global recognition of Iraq's gold & oil reserves, and proactive measures by the government and central bank, have contributed to the IQD's newfound strength.
This surge is not only attracting investors but also enhancing Iraq's role in international trade. Ultimately, the IQD's rise is empowering both Iraq's economy and its citizens by increasing purchasing power and economic opportunities.

The Golden Jubilee and the return to gold standard

On 15 August 1971, US President Richard Nixon officially announced that the country was completely abandoning the gold standard.
This meant that the US government abandoned the convertibility of US dollars into gold at a fixed rate of $35 per ounce.
The government simply could not meet the demand to exchange dollars received for goods and services for gold.
The jubilee in its original, biblical meaning when once in 50 years the sold and mortgaged lands were returned to their original owners, slaves and prisoners of war were freed, debts were forgiven, and the land rested from fieldwork.
Why not, 2022 may be the year for the return of the gold standard.
Sources: datadriveninvestor

Space Force Supra Coders

The first 15 Supra Coders are already empowering the Space Force to be a lean and agile service by making improvements to processes, and developing new software for Guardians across the Space Force.
Supra Coders fix space software problems on the fly.
A new Supra Coder program within Space Operations Command deltas, Space Force's tactical-level units, provides software coding training for space operator Guardians so they can fix software issues quickly without having to wait for contractors or software experts.
Sources: www.spoc.spaceforce.mil

Fiat destruction. Crypto or gold?

The world stands on the threshold of monetary hyperinflation with the US dollar leading the way. The final months of fiat money are coming into view.
The final solution is bound to be with central banks and government treasury departments retaining their control as issuers of money by the only means at their disposal: deploying their gold reserves to back their currencies, not as fiat, but as credible gold substitutes.
The crypto cohort is likely to have an important effect, in that it sparks an early realization in a growing part of the wider population about what government is doing with money. That is likely to speed up the collapse of fiat currencies compared to what would otherwise occur.
The flexibility in the supply of monetary gold and the stability of prices allows the original rate of interest to be both low and stable. It allows entrepreneurs to do business calculations with a high degree of certainty, knowing in terms of goods the value of money. And savers, who provide the monetary capital for future production can be confident of the future capital value of their savings when lending them for business investment purposes.
Sources: kingworldnews.com, www.zerohedge.com