The World toward a multi-currency system
Gesara.news » News » The World toward a multi-currency systemNews Date: August 27, 2022
Nations like Russia and China are now leading the charge from a one-currency world to a multi-currency world of import payments.
Russia, for example, can take its energy profits and Rubles to purchase the currencies of friendly countries like China, India, and Turkey to rebuild its reserves outside of the USD.
The old world is slowly but surely turning irreversibly away from a USD-dominated currency system toward a multi-currency and multi-FX pricing model.
Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Rosengren retires because of health issues. From a week ago: He made as many as 37 separate trades in the four REITS while the Fed purchased almost $700 billion in mortgage backed securities.
Federal Reserve Chairman Jerome Powell has ordered a review of ethics rules for the central bank after an outcry over officials owning individual securities.
Fed Chief Powell, other officials owned securities central bank.
Sources: www.cnbc.com, www.zerohedge.com
The quantum internet is a network that will let quantum devices exchange some information within an environment that harnesses the odd laws of quantum mechanics.
In theory, this would lend the quantum internet unprecedented capabilities that are impossible to carry out with current web applications.
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.
Russia is negotiating the use of Mir payment card with several countries, including Egypt.
There are reports of Egypt preparing apps to join BRICS.
The president of the BRICS International Forum expects Turkey, Egypt, and Saudi Arabia to join the group "very soon".