Trump's Fed Nominee Advocates a Gold-Backed Currency, Even a Crypto One
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News Date: May 23, 2020![](image/g43.jpg)
Judy Shelton, President Trump's nominee for the Federal Reserve board of governors, has advocated for getting back to a gold standard, possibly "in a very cryptocurrency way."
In an interview, Judy Shelton told reporters:
"I don't see it so much as returning [to the gold standard], more like 'back to the future.' I think that what a gold standard stands for is monetary discipline for its own sake. Money is supposed to be a unit of account, a reliable measure and a dependable store of value. It really shouldn't be subject to who's the chairman of the Federal Reserve."
Source:cointelegraph.com
An Asian Bretton Woods is suggested
An Asian Bretton Woods may be on the way.Sergei Glazyev, a senior Russian economist and Minister in charge of the Eurasian Economic Commission (EAEU), was leading a committee planning a new trade currency for the Eurasian Economic Union.
At the same time, the new trade settlement currency was to be available to any other nation in the Shanghai Cooperation Organisation and the expanding BRICS membership.
Logic suggests that a gold-backed currency will be the outcome of Glazyev's EAEU committee's trade currency deliberations after all, because of a subsequent announcement from Moscow concerning a new Russian bullion market.
Source: goldmoney.com
White House lit in Gold. Think 50 Year Anniversary
The White House was lit in Gold on October 8 night.From 1946 to 1971, nations operated under a new monetary system: the Bretton Woods Agreement.
On August 15, 1971, Nixon removed gold as the backing to the U.S. dollar.
After Nixon left the Bretton Woods system, gold went from $35 an ounce in 1971 to over $1800 today.
Sources: catalyst.independent.org
Donald Trump nationalized the Federal Reserve?
Fed and Treasury to Merge?The federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. BlackRock will be doing the trades. This scheme essentially merges the Fed and Treasury into one organization. So, meet your new Fed chairman, Donald J. Trump.
Source:finance.yahoo.com
Indian Sovereign Gold Bonds
The Reserve Bank of India (RBI) has announced the Sovereign Gold Bond Scheme 2022-23 - Series III, which will be open for subscription during December 19-23, 2022.Sovereign Gold Bonds, or SGBs, are issued by the Reserve Bank of India on behalf of the Indian government as an alternative to physical gold.
These gold bonds can be sold only to resident individuals, Hindu Undivided Families (HUFs), trusts, universities, and charitable institutions.
These bonds offer a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated.
Sources: indianexpress
Brazil is pushing to reform the World Bank and the IMF
Brazil's G20 presidency is focused on leveraging its influence to drive essential reforms within the IMF and the World Bank.The nation aims to enhance the representation of emerging economies, including the BRICS nations, in these institutions.
Additionally, Brazil is exploring alternative financial mechanisms like the BRICS Bank to complement the existing global financial architecture.
This proactive approach seeks to create a fairer and more inclusive global economic order.