Switching to gold standard
Gesara.news » News » Switching to gold standardNews Date: August 3, 2020
Deutsche Bank's top credit strategist Jim Reid has described himself as "a gold bug," and reckons "fiat money is a passing fad in the history of money," RT's Keiser Report recalls for the show's viewers.
In his remarks at a Russian-Chinese Business Forum on Tuesday in Shanghai, Shuvalov emphasized the need for Russia and China to hasten the development of an effective payment system.
"We urge the government of the Russian Federation and our Chinese partners to act as actively as possible.
An independent and efficient infrastructure of payments is necessary not only for ensuring the "ruble/yuan" pair but also for carrying out the most serious transactions in SCO and BRICS currencies," said Shuvalov.
White House is finalizing a series of executive orders addressing key coronavirus stimulus priorities if negotiations with Congress fall apart.
"I wouldn't be surprised that, if something gets left off the table, we'd be like "we can take this executive action too and be able to win on it anyway," one official said.
The meeting could mark the next phase in the global debt-relief drive-by bolstering coordination between government creditors over how to restructure the debts of poor economies hit hard by the coronavirus pandemic.
If China will be cut out of the SWIFT or denied access to US dollars, bank runs will be the new normal in China and the Chinese economy will suffer permanent damage.