Zimbabwe launched the gold-backed currency

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Date: April 5, 2024

Zimbabwe has decided to replace its struggling local currency with a new one backed by gold and foreign currencies in an effort to stabilize its economy and combat inflation.
The country reintroduced its own currency in 2019 after a period of dollarization, but it failed to gain public trust, with over 80% of transactions now conducted in foreign currency.
The new currency, named Zimbabwe Gold (ZiG), will circulate alongside other foreign currencies.
The exchange rate for ZiG will be determined by the closing interbank exchange rate on April 5 and the London PM Fix price of gold on April 4.
The Reserve Bank of Zimbabwe described the new currency as "structured," backed by a combination of foreign currency and precious metals, primarily gold, held as reserves by the central bank.
"If we implement these measures, we expect them to have an impact on inflation," central bank governor John Mushayavanhu told reporters.

Rupee-Riyal trade, UPI payment system

India, Saudi Arabia discuss Rupee-Riyal trade, UPI payment system.
India and Saudi Arabia have discussed the possibility of starting a rupee-riyal trade as part of efforts to boost economic ties between the nations, the Indian government said in a statement on Monday.
Sources: indiatimes

Federal Reserve Endorses Ethereum-Backed Alternative To Libor

Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate called AMERIBOR could serve as a potential replacement to LIBOR.
Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). USD Coin is on the Ethereum blockchain. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Source: forbes.com
A district court in China has reportedly ruled that Ethereum's cryptocurrency is legal property with economic value.
While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
Source: bitcoin.com

Loan relief for U.S. farmers has begun

U.S. farmers receive nearly $800 mln in loan relief from agriculture agency.
USDA provides nearly $800 million in loan relief, more aid to come.
More than 13,000 financially distressed U.S. farmers and ranchers with qualifying loans have received nearly $800 million in assistance.
Sources: reuters

President Donald Trump "All Currencies will be on an Even Level Playing Field"

All Currencies will be on an Even Level Playing Field much sooner than most people understand or think.
Here is a 3 minute snip from the ~30 minute press conference with PM Abe from Japan.
Go to 1:50 if you want the start of the exact statement:
Source:youtube.com

The Kraken is a Cray XT5 supercomputer to Break Petascale

The University of Tennessee supercomputer, Kraken, has broken a major barrier to become the worlds first academic supercomputer to enter the petascale, performing more than 1 thousand trillion operations per second, a landmark achievement.
The Kraken Cray XT5 supercomputer at the National Institute for Computational Sciences (NICS) has been upgraded to become the first academic computer in the world to exceed one petaflop of calculation power.
Sources: news.utk.edu, news.softpedia.com