IMF, World Bank annual meetings on economic development

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News Date: October 11, 2020

The International Monetary Fund and World Bank will hold their annual meetings, with both calling on the Group of 20 largest economies to extend a freeze in debt payments from the worlds poorest nations that is set to expire at year end.
The annual meetings of the International Monetary Fund and the Board of Governors of the World Bank Group (WBG) are going to kick off on Monday 12, and will remain in session till 18 October. The meetings come amid unprecedented conditions because of the COVID-19 outbreak and the severe impact it has had on the whole world.
The meetings are designed to bring together central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.
IMF to revalue its Special Drawing Rights (SDR) - the world's reserve currency waiting in the wings.
Sources:www.bloomberg.com, ahram.org.eg, gesara.news

FinX tap into the QFS via Stellar

Have you Heard about the FinX token in the stellar network, a new token implemented in the new quantum system that we are moving to?
FinX was started as an initiative to support the integration of retail users into the Quantum Financial System.
FinX is a decentralized network based on sovereignty and commerce. Its goal is to provide a platform optimized for the upcoming Quantum Financial System and enterprise-ready tokens to be used in the new generation of Blockchain.
Their goal is to tap into the QFS (Quantum Financial System), the new global network for the transfer of asset-backed funds, and replaces the centrally controlled outdated SWIFT Systems. FinX assets are created within the Stellar.
Sources: finx.org

An Asian Bretton Woods is suggested

An Asian Bretton Woods may be on the way.
Sergei Glazyev, a senior Russian economist and Minister in charge of the Eurasian Economic Commission (EAEU), was leading a committee planning a new trade currency for the Eurasian Economic Union.
At the same time, the new trade settlement currency was to be available to any other nation in the Shanghai Cooperation Organisation and the expanding BRICS membership.
Logic suggests that a gold-backed currency will be the outcome of Glazyev's EAEU committee's trade currency deliberations after all, because of a subsequent announcement from Moscow concerning a new Russian bullion market.
Source: goldmoney.com

Trump disappointed in blocking benefits

Very disappointed in Chuck Schumer for blocking the temporary extension of the $600 unemployment benefits. The Do Nothing Democrats are more interested in playing politics than in helping our deserving people. DRAIN THE SWAMP ON NOVEMBER 3RD!
Source:twitter.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.

Trump nominee Judy Shelton to pass Senate next week

Judy Shelton, President Trumps nominee to the Federal Reserve, will receive a vote on the Senate floor next week and is expected to pass.
Her support appears enough to get Shelton through the Senate, where Republicans control 53 seats. Every Democrat is expected to vote against her.
Her beliefs:
> eliminating the Feds independence and federal deposit insurance
> returning the U.S. to a gold standard
Sources: thehill.com