The World toward a multi-currency system

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News 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.
Source: goldswitzerland.com

Zimbabwe introduces new digital currency backed by gold

Zimbabwe to create new digital currency backed by gold.
As part of efforts to stabilize the local currency, the Reserve Bank of Zimbabwe (RBZ) is preparing to launch a digital currency backed by gold that will be accepted as legal tender for transactions in the nation.
The RBZ will take the first steps toward using the nation's gold reserves to anchor the Zimbabwe dollar with the introduction of the digital gold tokens, a kind of electronic money backed by gold stored at the RBZ.

Ripple XRP joins ISO 20022 The Global Payment Standard

Cross-border payments network Ripple (XRP) announced that it has become part of the ISO 20022 Standards Body, becoming its first member focused on distributed ledger technology (DLT). The new payment messaging standard is set to replace SWIFT MT messages as the standard format for cross-border and high-value payments.
Source:coinspeaker.com

Judy Shelton's Vision for a Gold-Backed Treasury Bond

May 9, 2025: FoxBusiness introduces the "dollar reset" idea promoted by monetary economist and former Trump advisor Judy Shelton, who received some positive feedback from Trump allies and business leaders like Larry Kudlow and Steve Forbes. Her proposal? A 50-year gold-backed bond to be issued on July 4, 2026 — anchoring the dollar to real value as a symbol of financial sovereignty.
November 27, 2024: Renowned economist and advocate of the gold standard, Judy Shelton, has once again brought the conversation on sound money to the forefront.
In a recent post on X, formerly Twitter, she posed a thought-provoking question:
"Why don't we use our gold as collateral for a new Treasury debt instrument?"
Shelton has proposed an innovative mechanism for reintroducing the gold standard - a 50-year Treasury bond convertible into gold, to be issued on July 4, 2026, under the initiative of President Donald Trump.
This move, she argues, could symbolize a return to fiscal discipline and monetary stability, aligning with the principles of America's founding.
A former economic advisor to President Trump, Shelton has been a vocal critic of the Federal Reserve and its monetary policies.
Her latest book, Good as Gold: How to Unleash the Power of Sound Money, delves into the historical and practical benefits of a gold-backed monetary system, highlighting its potential to curb inflation, stabilize currencies, and restore trust in the U.S. dollar.

What is the Gold Standard

Gold standard, monetary system in which the standard unit of currency is a fixed quantity of gold or is kept at the value of a fixed quantity of gold. The currency is freely convertible at home or abroad into a fixed amount of gold per unit of currency.
In an international gold-standard system, gold or a currency that is convertible into gold at a fixed price is used as a medium of international payments. Under such a system, exchange rates between countries are fixed; if exchange rates rise above or fall below the fixed mint rate by more than the cost of shipping gold from one country to another, large gold inflows or outflows occur until the rates return to the official level.
President Franklin Roosevelt suspended the gold standard in 1933, a move which is widely credited with helping the country climb out of the Depression.
Sources: youtube.com, www.cbsnews.com

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