Gold revaluation to write off the debt

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News Date: February 17, 2022

The more debt is being accumulated on the balance sheets of European central banks, the more likely they will revalue gold to write off this debt.
One possible solution is that central banks use unrealized gains of the gold on their balance sheet to write off sovereign bonds, providing debt relief to their governments.
Revaluing gold to write off bad debt would require central banks to set a floor price for gold.
If a central bank uses its revaluation account fully, the gold price ideally doesn't fall back or this central bank will incur unrealized losses.
As such, the central bank would need to stabilize the gold price, which is a form of a gold standard.
Source: substack.com

ISO 20022 migration. The Ripple effect strikes the Pound

Ripple Joins the Digital Pound Foundation: Designing a Path for a CBDC-Forward Future.
Ripple is excited to announce it is joining the Digital Pound Foundation, a non-profit focused on the development and implementation of a digital Pound in the United Kingdom.
ISO 20022 promises greater interoperability between various settlement networks, richer information flows, higher levels of straight-through processing, and more efficient compliance processes.
It signals a significant opportunity for banks to improve operational efficiency and reassess existing business models.
ISO 20022 has already been introduced for high-value payments systems (HVPS) in major countries and is established as the standard in instant payments markets following implementations worldwide.
Sources: ripple.com, www.sibos.com

Vance Backs Trump on Fed Influence

Senator JD Vance, R-Ohio, who is former President Trump's vice presidential nominee, expressed support for Trump's idea that U.S. presidents should have a say in the Federal Reserve's monetary policy decisions, including interest rate changes.
In an interview on CNN's "State of the Union," Vance agreed with Trump, arguing that such decisions should involve America's elected leaders and not be left solely to the independent Federal Reserve.
Vance acknowledged that this would mark a significant shift from the traditional approach, where the Fed operates independently of political influence, but emphasized that Trump is advocating for greater political input, not direct control, over monetary policy.

US Mint increases prices on silver products

The United States Mint recently adopted a new strategy for pricing products in its silver numismatic products portfolio. Prices for products containing silver will change EFFECTIVE October 13, 2020-applicable to silver products already on sale/those yet to be released.
In order for the United States Mint to cover rising costs, meet its fiduciary responsibility to operate at no net cost to taxpayers, and return money to the Treasury General Fund, re-setting silver prices is necessary.
The Mints goal, as a financially responsible Federal agency, is to always provide the best quality numismatic products while maintaining fair prices.
The first objective is to ensure that the numismatic portfolio (all product lines together) be self-sufficient and cover all associated costs. The new silver prices reflect a sound business decision aimed at meeting these obligations.
(No tax dollars are used to fund numismatic operations.) The United States Mint will continue to look for operations optimization and cost reduction efforts to deliver superior quality numismatic products at a fair price.
Sources:www.federalregister.gov, twitter.com, www.coinworld.com

Iraq is working on the equal deal

Iraqi officials are disclosing that the government is now working on 'equal deal' project for trade and imports with some countries such as China, Iran, and India in their own currencies.
They are pointing out that Baghdad is studying the establishment of a free zone to import materials, marketing them to the private sector, and ensuring their delivery to the consumer at competitive prices in Iraqi dinars.
These sources revealed that there are ongoing negotiations with countries to regulate trade and take the best options in terms of payment.
This project reminds us of Donald Trump's statement:
All Currencies will be on an Even Level Playing Field much sooner than most people understand or think

SLD 45 & SpaceX Starlink launch

Congratulations to SpaceX, all the Guardians and Airmen of SLDelta45 that made the Starlink 4-3 launch possible this evening.
This launch kicks off what is sure to be a busy December, with 5 launches slated to close out the year.
Without the dedication from their teammates, this high ops tempo would not be possible!
Source: SpaceForceDoD