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Challenging The G7

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News Date: August 10, 2022

BRICS plus nations in the Global South could represent a sea change in the West's global institutions.
The West has traditionally dominated global groupings of leaders, most notably the G8, which included Russia until 2014 and is now the G7.
That is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, with the European Union is a 'non-enumerated member'.
Russia is ready to develop a global reserve currency together with China and other members of the BRICS group of nations.
It could be based on a basket of currencies from the organization's members.
One possibility is that the BRICS basket currency could attract the reserves not just of the group's members, but also countries already in their range of influence.
These include nations in South Asia and the Middle East.
Sources: silkroadbriefing.com

Government documents from 2014 refer to XRP

The United States Government Accountability Office:
Other virtual currencies that have been created are not based on the bitcoin protocol.
One of the more prominent examples is XRP, which is used within a decentralized payment system called Ripple.
Ripple allows users to make peer-to-peer transfers in any currency.
A key function of XRP is to facilitate the conversion from one currency to another.
For example, if a direct conversion between Mexican pesos and Thai baht is not available, the pesos can be exchanged for XRP, and then the XRP for baht.
Source: www.gao.gov

Gold Standard Bill re-introduced

U.S. Congressman Introduces Gold Standard Bill as Inflation Spirals Out of Control.
Rep. Alex Mooney proposes the United States adopt a new gold standard after U.S. government officials first disclose all gold holdings and secret gold transactions, allowing the gold price to adjust to its fair market value.
Referred to as the 'Gold Standard Restoration Act' by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to address the ongoing problems of inflation, runaway federal debt, and monetary system instability.
Alex Mooney also introduced H.R.5404 (2018), a bill to define the dollar as a fixed weight of gold.
Sources: accesswire.com , gesara.news

Gold Standard Act Approved on March 14, 1900

President McKinley signs Gold Standard Act, March 14, 1900.
122 years ago today, President William McKinley signed the Gold Standard Act, which established gold as the sole basis for redeeming paper currency.
The act halted the practice of bimetallism, which had allowed silver to also serve as a monetary standard.
It set the value of gold at $20.67 an ounce and valued the dollar at 25.8 grains of gold.
The act guaranteed that the government would redeem any amount of paper money for its value in gold, and it meant that transactions no longer had to be done with heavy gold bullion or coins because the paper currency had a guaranteed value tied to something real.
Source: www.thebalance.com

The silence of the Stock Market Crash

The stock market rally has its days counted and the substantial drops seen over the past few weeks suggest that the catalyst for an epic crash is rising inflation.
The tech sector has already witnessed some sharp losses, but right before the market closed on Friday, the meltdown was becoming more widespread.
For a long time now, analysts, experts, economists, and investors have been sounding the alarm about an explosive and sudden stock market crash that would wipe out billions in earnings overnight.
And even though the collapse of the bubble has already started, we're still hearing silence.
Source: youtube.com

Russia calls on BRICS for economic integration

Russia calls on BRICS countries for tighter economic integration:
the use of BRICS currencies for export-import,
the integration of payment systems and cards,
their own financial messaging system,
and the creation of an independent BRICS rating agency,
according to Russian Finance Minister Anton Siluanov.
Source: www.reuters.com

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