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

Queen may never return to royal duties

The Queen may never return to regular frontline royal duties if Covid-19 restrictions render public engagements unsafe for years.
The monarch, 94, is in lockdown at Windsor Castle to stop her from catching the killer virus.
Source:the-sun.com

Panic! Donald Trump retweeted the Kraken description

Lin Wood, the attorney of Donald Trump, tweeted On November 24 the post of The Marshall Report, describing what is the Kraken.
Shortly President Donald Trump retweeted this post.
In our previous post, you can find the whole article related to Kraken.
Kraken is a Department of Defense-run cyber warfare program.
Sources: twitter.com, gesara.news

The new Petro-Gold-Yuan system

Gold will be instrumental in China's plan to create an international oil/renminbi market.
Gold will be a crucial factor for China as the nation looks to strengthen the yuan's international credibility and continues to push forward its plans to buy oil from Saudi Arabia.
Sources: kitco.com

Argentina abolishes income tax

Argentina's government, ahead of a critical October 22nd election, has surprised many by announcing a tax exemption for millions of citizens, sparing them from income tax payments.
This move, amidst rampant inflation, directly contradicts Argentina's IMF deal, causing controversy.
It's seen as a political strategy to win favor in the election, but critics worry about its impact on fiscal responsibility and economic stability.
This decision underscores the intricate relationship between economic policy and politics in Argentina and raises questions about the nation's global financial reputation.

Russia China will lead the world to gold standard

The process of fiat money collapse is currently underway and that gold, property and productive assets like manufacturing factories can be used to rebuild the economic system.
A combination of China and Russia would be the two countries that will lead us back to having a currency backed by precious metals.
China has multiples of what they report in gold reserves, that they probably got 20,000+ tons of gold reserves.
Russia is actually in a very-very good position: they have very low debt, they don't run large deficits, etc. They got a very large natural resource economy as well.
As a result, when the things come crashing down that the first two currencies that go to a gold backing are China and Russia.