Gold and Rubles Exchanged in Digital Form

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Date: February 10, 2023

Digital Gold Traded for Digital Rubles by Russia's Rosbank.
Rosbank has brokered Russia's first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble.
Source: bitcoin.com

ISO 20022 migration launched

Swift's ISO 20022 Services for Cross-Border Payments Ready for Customer Testing with Launch of In-Flow Translation.
Swift launches translation service for cross-border payments.
In-flow Translation will enable financial institutions to realize the benefits of rich data when they migrate to ISO 20022, even if their counterparts have not yet adopted the standard.
The availability of a test environment means that customers can now prepare for ISO 20022 a year before it goes live.
Source: paymentsjournal.com

G-24 calls for debt relief for developing countries

The G-24, a group of 28 member countries including China, is strongly advocating for sustainable debt relief measures for low-income nations due to their concerns over escalating, unsustainable public debt burdens.
They conveyed this message during the 2023 Annual Meetings of the World Bank Group and the International Monetary Fund on October 10.
The G-24's core mission is to coordinate and amplify the voices of developing countries on monetary and development issues, underscoring their commitment to global economic stability and the well-being of vulnerable nations.

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

Biden cited Republicans: Trump is still President

Biden at the 10-year anniversary of the Martin Luther King, Jr. memorial:
It's something like 20 percent of the Re- or half the Republicans - the registered Republicans: I am not your President; Donald Trump is still your President. As we Catholics say, "Oh, my God."
Sources: twitter.com ,www.dailymail.co.uk

Gold revaluation to write off the debt

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