Ghana Launches Gold Coin to Boost Savings

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News Date: September 28, 2024

The Bank of Ghana has introduced a new gold coin to enhance money-market liquidity and promote domestic savings.
Made from locally mined gold, the coin is refined to 99.99% purity.
It is issued and guaranteed by the central bank, with three available sizes: one ounce, half ounce, and quarter ounce, according to Governor Ernest Addison.
The initiative aims to strengthen Ghana's financial market and savings culture.
"The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank's bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana???s domestic gold purchase program." Addison said.

ISO 20022 implementation for Fedwire Funds Service

The FederalReserve Board of Governors is seeking industry feedback by December 11 on a revised plan to implement ISO 20022 message format for the Fedwire Funds Service.
Recently, the Federal Reserve Banks announced the message specifications for the FedNow Service. While both the Fedwire Funds Service and the FedNow Service plan to use ISO 20022 messages, the implementations of the ISO 20022 standard for these services are separate initiatives.
Sources: www.frbservices.org, gesara.news

Farsight Quantum Voting solution to Protect Election Integrity

An innovative new answer to the problem of election integrity has been developed that leverages the advantages of blockchain technology to provide one of the most remarkably sophisticated digital voting systems to date,
By relying on a crypto-tokenization system (in which every token represents a virtual ballot).
Farsight's platform relies on a principle of zero trust, eliminating the dependence on static voting mechanisms to provide equal power and authority to users, assets, and resources.
Source: www.marketwatch.com

Independent Financial System planned by Russia and the Islamic world

Russia and the Islamic countries talk about the creation of an independent financial system and de-dollarization.
According to Alexey Overchuk, deputy prime minister of Russia, Russia is in conversation with countries in the Islamic world about current global changes, particularly the de-dollarization processes.
Alexey Overchuk mentioned the de-globalization processes, the shift of industrial output, the fall of Western investment in the Global South, and the concerns with energy and food security among other things on the agenda.
"Of course, our relations with Islamic countries are influenced by global shifts that are taking place and global trends.
We are talking about processes of de-dollarization and the creation of an independent financial system.", Overchuk stated, through a TASS report.

Iran Joins Russia in BRICS Currency Initiative

Iran is collaborating with Russia in BRICS initiatives, including developing a single currency for the bloc, according to Iranian Ambassador to Russia Kazem Jalali.
He highlighted Iran's active role as a new BRICS member at the Russia-Islamic World: KazanForum.
"The creation of a new single currency within the framework of the association is what Russia and Iran are working on," the diplomat stated.

Basel III and the Gold Standard

The manipulation of paper trading will be minimized with Basel III unallocated limit restrictions.
Gold and silver prices are sure to rise in the run-up to full implementation of Basel 3 regulations as the metals become a risk-free tier 1 asset with liquidity equal to cash and financial establishments mandated to hold more physical leverage against debt.
Basel III implementation is just weeks away, ahead of the historic impact of unallocated position limit restrictions on the suppression of the gold and silver price.
Source: www.investing.com