Philadelphia FED researchers suggest gold standard

Gesara.news » News » Philadelphia FED researchers suggest gold standard

Share via:

News Date: March 26, 2024

Researchers at the Federal Reserve Bank of Philadelphia say switching to the gold standard could stabilize prices.
In their February working paper, researchers at the Federal Reserve Bank of Philadelphia suggest that adopting a gold standard could lead to long-term price stability.
Jesus Fernandez-Villaverde and Daniel Sanches argue that inflation and deflation would become temporary events in a hypothetical small open economy operating under the gold standard.
> Centralbanking

Musk: This partnership can unlock a Star Trek future

In a landmark move, U.S. President Donald Trump signed a “Strategic Economic Partnership” with Saudi Arabia on May 13, 2025, securing $600 billion in investments across AI, technology, energy, and defense. The agreement, signed with Crown Prince Mohammed bin Salman in Riyadh, marks a pivotal step in deepening the 80-year U.S.-Saudi alliance, with ambitions to scale investments to $1 trillion over four years.
The deal includes a $142 billion defense package, the largest in U.S. history, bolstering Saudi military capabilities with advanced U.S. equipment. Additionally, $20 billion from DataVolt will fund AI infrastructure, while $80 billion in joint tech ventures signals a shift toward innovation-driven economies. Saudi Arabia’s Vision 2030, aimed at diversifying from oil, aligns with these investments, particularly in AI and tech.
American business titans, including Tesla’s Elon Musk, OpenAI’s Sam Altman, and BlackRock’s Larry Fink, joined Trump at the Saudi royal court, underscoring the deal’s economic weight. The Saudi-U.S. Investment Forum, where Musk spoke, highlighted transformative technologies like Tesla’s Optimus robots and autonomous robo-taxis.
Musk concluded his speech with optimism: “I’m very excited about the future and very glad to be here. This partnership can unlock a world of prosperity, where humanoid robots and AI drive unprecedented economic growth, potentially creating a universal high-income society. Together, we can explore the stars and understand the universe.” His vision of a “Star Trek future” resonated with Saudi ambitions to lead in innovation.
This partnership not only strengthens U.S.-Saudi ties but also positions both nations as global leaders in the AI and tech revolution, promising economic prosperity and technological advancement.

Russia to use digital ruble in settlements with China

Russia plans to use digital rouble in settlements with China, says lawmaker.
After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington's global financial hegemony, a senior Russian lawmaker said on Monday.
Sources: reuters

Russia is working on stablecoin pegged to gold

Russian gov't working on stablecoin settlement platform between friendly nations.
Russia's Finance Ministry has reportedly begun working with the governments of 'friendly' nations to establish a cross-border stablecoin-based payments platform.
'Stablecoins can be pegged to some generally recognized instrument, for example, gold, the value of which is clear and appreciable for all parties involved,' said Alexey Moiseev.
Sources: cointelegraph.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 says China, Russia and North Korea will not be enemies

Donald Trump stated that Russia, China, and North Korea would not be considered enemies of the United States if it had a smart president.
He claimed that these countries were not adversaries during his presidency because he knew how to manage relationships with them.
Trump also argued that America's internal issues are more severe than external threats like Russia, China, and North Korea.