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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

Central banks chiefs out

With Angela Merkel on her way out as Chancellor, her former chief economic advisor, Jens Weidmann, announced plans to step down at the end of the year as head of Germany's Bundesbank after a decade at the helm of the national central bank.
Dallas Fed President Kaplan and Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Former Iranian Central Bank Chief Handed 10-Year Prison Sentence.
Slovakia's central bank chief and European Central Bank governing council member Peter Kazimir has been charged with corruption.
Philippine central bank Governor Benjamin Diokno said he is with "team transitory" and that it is more prudent for the country to delay monetary tightening.
The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country's central bank.
So, central bank are starting to worry. They were wrong about inflation because they were wrong about supply chains, and they were perhaps wrong about labor markets, which they had just taken years to learn had no serious bargaining power.
To be continued... Stay Tuned!.
Sources: www.cnbc.com ,gesara.news

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Sources: spacenews.com

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Sources: globaltimes

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Sources:thehill.com

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That means it Can Settle Derivatives And Oil Contracts.
Cross-border payments network Ripple (XRP) also announced in May that it has become part of the ISO 20022 Standards Body, becoming its first member focused on distributed ledger technology (DLT).
Sources:gesara.news, www.coindesk.com

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