Gold Rush to Dump U.S Debt

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News Date: July 26, 2020

As the world continues down the road of extreme uncertainty, investors and foreign central banks continue to turn to the oldest form of money as a measure of providing some stability, gold.
So far, in 2020, central banks have added a net of 181 tons of gold to their reserves. Gold continues to retain its position of being the most reliable store of value and means of exchange in times of extreme uncertainty. This should explain why several central banks plan on continuing to increase their gold reserves in 2020.
Example:www.goldtelegraph.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

Gold price up as Fed begins historic ETF purchase program

The US central bank (FED) began purchasing ETFs holding corporate bonds for the first time ever Tuesday as part of its pandemic rescue package.
Such injections into the economy have generally lifted investor demand for safe-haven assets like the precious metal as fears of inflation and currency debasement grow.
Source:mining.com

Trump plans troops global pullback

President Donald Trump may withdraw nearly all U.S. troops from Somalia as part of a global pullback that includes reductions of forces in Afghanistan and Iraq, U.S. officials said.
The officials, who spoke on condition of anonymity, said nothing had been finalized and that no orders for Somalia have been received by the U.S. military. But there appeared to be a growing expectation that drawdown orders would be coming soon.
Acting Defense Secretary Chris Miller issued a memo to the entire Defense Department that hinted of a coming U.S. withdrawal from Afghanistan.
Sources: www.breitbart.com, www.reuters.com

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

US Rep Calls for Abolishing Income Tax

Rep. Thomas Massie posted on February 24 that the federal income tax was unconstitutional for much of U.S. history and called for its repeal.
Massie: "The federal income tax was unconstitutional for most of our countyâ??s existence.
The founders of this country would have never agreed to it.
We should repeal it."