The End of the Dollar Empire

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News Date: September 7, 2022

Gazprom says it has signed a deal for China to pay for Russian gas in national currencies.
Russia's Gazprom said on Tuesday it had signed an agreement to start switching payments for Russia's gas supplies to China to yuan and roubles instead of dollars.
Sources: reuters.com

Australian PM plans tax cuts

Prime Minister Anthony Albanese has announced plans to introduce legislation next week, promising tax cuts for every Australian taxpayer.
He emphasizes the urgency of passing the legislation promptly to facilitate a smooth transition for both employers and the tax office.
"This is legislation which will give every taxpayer a tax cut and it should receive the support of every parliamentarian," he told ABC's Insiders on Sunday.

FED will adopt ISO 20022 message format

Federal Reserve Board announces the Reserve Banks will adopt a new message format for the Fedwire Funds Service and invites public comment on proposal to expedite adoption.
The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.
The change will allow for enhanced efficiency of both domestic and cross-border payments, and a richer set of payment data that may help banks and other entities comply with sanctions and anti-money laundering requirements.
Sources: www.federalreserve.gov

All Joint Chiefs of Staff appointed by Trump still in position

Every current member of the Joint Chiefs of Staff was appointed by Trump during his time in office.
Still here.
Not one has been removed in the new administration.
No additional comments...
Sources: wikipedia.org, twitter.com

Economists Discuss Russia, China Developing Gold-Backed Currency

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar.
Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold.
Sources: news.bitcoin

United States and China are seeking debt relief measures

The United States and China are in frequent discussions to prevent emerging market sovereign defaults.
Talks include preemptive measures such as extending loan periods to ease the annual debt service burden of over US$400 billion for poor countries.
Ideas also involve increased financing from the World Bank and others to address high borrowing rates.
The aim is to implement these measures before countries default and enter formal restructuring talks with creditors.
The Treasury Department: "we talk frequently with China about sovereign debt concerns.
And we talk to many countries about how to make sure the international financial architecture is meeting low-income country financing needs".