Federal Student Loan Payments Officially Suspended

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News Date: August 25, 2020

President Trump signed an Executive Memorandum on August 8 related to student loan relief.
Secretary DeVos announced that she has fully implemented Mr. Trump's directive.
Source:www.ed.gov

The return to the golden age. The gold standard will rise again

The New $100 Bill Will Usher In A NEW Gold Standard
It seems like today's national leaders are gradually reaching a consensus about how the world's monetary system should be structured. They are getting ready to return to a gold standard system.
Source:forbes.com

Trump Allies Target Fed's Independence: WSJ

Some members of Trump's team are devising plans to restructure the Federal Reserve, which could grant the president direct influence over interest rate decisions and potentially remove the current Fed Chair, Jerome Powell, from office before his term ends in 2026.
This move is part of a broader strategy by Trump's allies to diminish the Federal Reserve's independence if he secures a second term, amidst internal disagreements among his advisers on how forcefully to challenge the central bank's authority.
> WSJ report<
This effort follows the federal government's actions in 2020, during Trump's tenure, where large portions of the financial markets were nationalized, with the Federal Reserve providing the necessary funds.
Notably, BlackRock was entrusted with executing the trades, effectively merging the Federal Reserve and Treasury into a singular entity.

Cuba considers joining the BRICS

Cuba's Ambassador to Russia considers the possibility of joining the BRICS.
Julio Antonio Garmendia Pena, Ambassador Extraordinary and Plenipotentiary of the Republic of Cuba to the Russian Federation, spoke about the possibility of joining BRICS.
'Cuba maintains trade relations with the countries of the association, stressing the importance of cooperation with Russia and China in various sectors of the economy. The trend towards expansion of the alliance offers the hope of achieving a multipolar world', the ambassador said.
Russia's Mir banking cards could start being used in Cuba by the end of the year, the ambassador said.
Sources: tvbrics.com

Treasury Secretary: Expect a decline in the dollar as Reserve Currency

Treasury Secretary Janet Yellen Acknowledges Countries' Trend Toward 'Replacing The Dollar'.
Expect a gradual decline in the dollar's share of global reserves, according to Yellen.
During a congressional hearing, she was asked about dedollarization, to which she responded with her remarks.
The statements come amid global de-dollarization initiatives being undertaken by a number of nations, including the BRICS economic bloc.

Russia issued Gold-Backed Crypto Coins

The largest bank in Russia, Sber Bank, just announced that it has issued gold-backed digital assets on its own blockchain.
It is expected that this will attract a lot of new investors and institutions especially as there is a lot of concern about inflation for fiat currencies.
After all, many of the citizens in the country have started to use the blockchain as a method to preserve wealth and to transfer wealth without having any interference from a bank or government.
Sources: procoinnews