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A Monetary System as Good as Gold

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News Date: July 16, 2020

The gold standard provides a better anchor for inflation expectations without an obvious cost in terms of lower output or higher unemployment.
The gold standard isn't perfect. No system is. But it has many virtues. A strong case can be made that it's the best of all feasible institutional alternatives. Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.
Source: www.aier.org

Central banks chiefs out

With Angela Merkel on her way out as Chancellor, her former chief economic advisor, Jens Weidmann, announced plans to step down at the end of the year as head of Germany's Bundesbank after a decade at the helm of the national central bank.
Dallas Fed President Kaplan and Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Former Iranian Central Bank Chief Handed 10-Year Prison Sentence.
Slovakia's central bank chief and European Central Bank governing council member Peter Kazimir has been charged with corruption.
Philippine central bank Governor Benjamin Diokno said he is with "team transitory" and that it is more prudent for the country to delay monetary tightening.
The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country's central bank.
So, central bank are starting to worry. They were wrong about inflation because they were wrong about supply chains, and they were perhaps wrong about labor markets, which they had just taken years to learn had no serious bargaining power.
To be continued... Stay Tuned!.
Sources: www.cnbc.com ,gesara.news

Coin shortage hits retailers, laundromats, tooth fairy

The national coin shortage has been an unusual side effect of the pandemic. Among its victims? Retailers, laundromats and even the tooth fairy.
Retailers large and small have urged shoppers to use cards or exact change whenever possible.
As the shortage persists, it's become clear that there are still some conundrums that only coins can solve.
Source:www.foxbusiness.com

Dan Scavino tweets

Dan Scavino tweets and tweets from our Great Military. So many coincidences that it is just not mathematically possible. When we think of Biblical we think of an event of massive historic proportions. More than one meaning. We are at the precipice Patriots. Buckle up and prepare!
Unstoppable Trump statement:
Wouldnt it be fantastic if the legendary Herschel Walker ran for the United States Senate in Georgia? He would be unstoppable, just like he was when he played for the Georgia Bulldogs, and in the NFL. He is also a GREAT person. Run Herschel, run!
just redirects to Q post 34:
My fellow Americans, over the course of the next several days you will undoubtedly realize that we are taking back our great country (the land of the free) from the evil tyrants that wish to do us harm and destroy the last remaining refuge of shining light. On POTUS order, we have initiated certain fail-safes that shall safeguard the public from the primary fallout which is slated to occur 11.3 upon the arrest announcement of Mr. Podesta (actionable 11.4). Confirmation (to the public) of what is occurring will then be revealed and will not be openly accepted. Public riots are being organized in serious numbers in an effort to prevent the arrest and capture of more senior public officials. On POTUS order, a state of temporary military control will be actioned and special ops carried out. False leaks have been made to retain several within the confines of the United States to prevent extradition and special operator necessity. Rest assured, the safety and well-being of every man, woman, and child of this country is being exhausted in full. However, the atmosphere within the country will, unfortunately, be divided as so many have fallen for the corrupt and evil narrative that has long been broadcast. We will be initiating the Emergency Broadcast System (EMS) during this time in an effort to provide a direct message (avoiding the fake news) to all citizens. Organizations and/or people that wish to do us harm during this time will be met with swift fury - certain laws have been pre-lifted to provide our great military the necessary authority to handle and conduct these operations (at home and abroad).
Sources: maybe60794885, PatriotCharlie1

Digital ruble in cooperation with the UAE

The Bank of Russia, led by First Deputy Governor Olga Skorobogatova, is collaborating with the UAE regulator to establish a cutting-edge system for fast payments and settlements.
This initiative, announced at the Finopolis forum, aims to utilize the digital ruble to streamline financial transactions for both individuals and businesses.
The partnership signifies a commitment to financial innovation and positions these institutions at the forefront of the evolving digital landscape.
The digital ruble is expected to enhance transaction efficiency, fostering financial inclusivity and exemplifying a proactive approach to the future of finance.
"We will work out the fast payment system because the colleagues are ready with the digital ruble and we are ready.
If we solve the issue of client identification, then I think we will be able to build up a normal system of payments for citizens and the business between the two our countries in a year at the least," she stated.

China will forgive 23 loans for 17 African nations

China has pledged to forgive 23 interest-free loans for 17 African countries and will also provide food assistance to the struggling nations, China's foreign minister Wang Yi said at the Forum on China-Africa Cooperation.
Mr. Wang also announced to increase imports from Africa, support the greater development of Africa's agricultural and manufacturing sectors, and expand cooperation in emerging industries.
Sources: news.com.au

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