XRP the Ripple force in the Federal Reserve projects

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News Date: May 7, 2020

Fed Faster Payments Task Force gives Ripple vote of confidence for next gen of global payments.
Ripple's Executive Elected to Fed's Faster payments Task Force.
The desired outcomes focused on speed, security, efficiency, cross border payments, and industry collaboration.
Source:ripple.com

Donald Trump hints the gold standard again

Donald Trump is trying to tell us something about the return to the gold standard, citing an interesting section from the Constitution.
He posted on his network an article of the Constitution that specifically talks about Gold & Silver Coin as legal tender.
Article I, Section 10, Clause 1:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit;
make any Thing but gold and silver Coin a Tender in Payment of Debts;
pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
Posted on T.S., February 26.

XRP bombed. Could Ripple Replace SWIFT?

Cross-border payments network Ripple (XRP) has become part of the ISO 20022 Standards Body, its first member focused on distributed ledger technology (DLT).
Former SEC Chairman Jay Clayton dropped a legal airburst bomb on Ripple. A few short days before leaving the position, Clayton filed a lawsuit making claims that are at least, suspect because of timing.
What possible motivation could there be for shaking all retail investors out of XRP, and tanking its price? Perhaps it has to do with the actual function of Ripple. Ripple is a major contender for replacing the central banking SWIFT system for international transfers.
First Pretrial Conference for Ripple and SEC to Take Place on February 22.
Sources: gesara.news, www.youtube.com, u.today

Iraq focuses on BRICS

Iraqi MP Zeinab Al-Mousawi, a prominent member of the parliamentary Oil and Energy Committee, urged the government to make joining the BRICS group a top priority.
Mousawi stressed that this move would bring numerous economic benefits to Iraq, including expanded trade opportunities and enhanced economic independence.
Mousawi stated that BRICS members "are rich in oil, metals, rare minerals used in technological industries, and grains."
Iraq is blessed with abundant resources, including extensive oil reserves, fertile land for agriculture, natural gas, and minerals.
We want to be "Free of Washington's financial and trade restrictions," Mousawi summed it up to Amwaj Media.

Jubilee Call for Debt Relief Reaches the White House

The U.S. Conference of Catholic Bishops and Jubilee USA Network urged President Trump to support global debt relief in a joint letter, citing the biblical Jubilee tradition of debt forgiveness. They argue that expanding debt relief stabilizes developing nations, boosts U.S. exports, and reduces domestic food and fuel prices. The letter, timed with a pause on new tariffs, praises Trump’s first-term debt relief efforts and frames the initiative as aligning with his “America First” agenda. While Trump hasn’t responded, the proposal’s economic benefits may appeal to him, though any commitment would likely hinge on clear U.S. advantages without straining resources.

FED will adopt ISO 20022 message format

Federal Reserve Board announces the Reserve Banks will adopt a new message format for the Fedwire Funds Service and invites public comment on proposal to expedite adoption.
The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.
The change will allow for enhanced efficiency of both domestic and cross-border payments, and a richer set of payment data that may help banks and other entities comply with sanctions and anti-money laundering requirements.
Sources: www.federalreserve.gov