The Gold Standard Monetary Reset

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News Date: April 3, 2022

Did Russia Intentionally Trigger A Monetary System Reset?
Russian central bank to restart buying gold from banks will pay fixed price from March 28.
Russia Central Bank Announces Ruble Bound to Gold! 5000 Rubles per Gram.
By pegging gold to the ruble, Russia has just wiped out the dollar's clout from the world markets.
Moscow Will Consider Bitcoin, Gold, and Ruble Payments for Natural Gas.
Lavrov pushes for more active Russia-India-China cooperation, calls it 'Troika'.
Iran wants to trade with Russia in national currencies.
Lavrov: Russia, China Moving Towards Multipolar 'Fair World Order'.
Source: tfiglobalnews.com, youtube.com

BRICS planning SWIFT competitor

The BRICS nations, have announced plans to establish their own money-transferring network, aiming to challenge the SWIFT international payment system.
Russian Finance Minister Anton Siluanov revealed this ambitious strategy in an interview with TASS news agency.
This initiative is geared toward enabling seamless cross-border transactions among BRICS member countries, reducing costs and risks associated with external financial intermediaries.
It also seeks to promote the use of BRICS currencies in international trade, potentially diminishing the dominance of the US dollar.
The BRICS network aims to rival SWIFT's capabilities by developing advanced payment infrastructure and cybersecurity measures.
While benefiting BRICS nations, it could also enhance competition and efficiency in the global financial system, benefiting businesses and individuals worldwide.
This move signifies the BRICS nations' determination to reduce reliance on Western financial systems and assert more influence in global finance.

HSBC Trials Quantum-Secure Tech for Tokenized Gold

HSBC has announced a successful trial of quantum-secure technology for buying and selling tokenized physical gold, a significant step in safeguarding financial applications from future quantum computing threats.
HSBC was the first global bank to offer tokenized gold to institutional investors using distributed ledger technology (DLT) and later expanded this offering to retail investors in Hong Kong through the HSBC Gold Token.
The trial also demonstrated interoperability between gold tokens using post-quantum cryptography (PQC), enabling safe movement of digital assets across ledgers and the conversion of HSBC's tokens into ERC-20 fungible tokens for enhanced distribution.

Mississippi to Phase Out Income Tax Under New Law

Mississippi Governor Tate Reeves has officially signed a bill into law that sets the state on a path to phase out its income tax. The legislation, a major victory for conservative economic policy, aims to gradually reduce and eventually eliminate personal income tax in the state, making Mississippi one of the few states without such a levy.
Supporters argue that the move will attract businesses, boost economic growth, and put more money into the hands of residents. Opponents, however, warn that eliminating the tax could strain state revenues, potentially affecting funding for education, infrastructure, and public services.
Gov. Reeves hailed the decision as a step toward greater financial freedom, emphasizing Mississippi's commitment to lower taxes and a pro-business environment. The phase-out plan will occur over several years, with incremental reductions to ensure a smooth transition.
Mississippi now joins a growing number of states pursuing aggressive tax-cutting measures, reflecting a broader national debate over taxation and economic policy.

The digital ruble test will begin in August

Update as of 24 July: Putin signed a law to introduce the digital ruble, which will take effect on August 1.
Interesting timing, think August, it's going to be absolutely epic!
According to the central bank, Russia will begin testing a digital version of its rouble currency with consumers in August, according to a report published on Tuesday by the Interfax news agency.
Russia has been creating digital currency over the past few years, as have many other nations, in an effort to modernize their financial systems and fend off cryptocurrencies.
August is also the month BRICS plans to introduce a new gold-backed trading currency at the Johannesburg summit.

Gold Standard Act Approved on March 14, 1900

President McKinley signs Gold Standard Act, March 14, 1900.
122 years ago today, President William McKinley signed the Gold Standard Act, which established gold as the sole basis for redeeming paper currency.
The act halted the practice of bimetallism, which had allowed silver to also serve as a monetary standard.
It set the value of gold at $20.67 an ounce and valued the dollar at 25.8 grains of gold.
The act guaranteed that the government would redeem any amount of paper money for its value in gold, and it meant that transactions no longer had to be done with heavy gold bullion or coins because the paper currency had a guaranteed value tied to something real.
Source: www.thebalance.com