Editor’s Note: What does this mean? This article introduces need for the creation of a new standardized global currency..i.e., laying out the “reasons” for the GCR/RV. The US government is being hard-pressed to create a new digital currency, and so is forcing the FEDNOW program into existence early. A “new” Bretton-Woods agreement will provide financial standards.
Goldilocks posted a link and comments tonight:
Okay folks, we have a timeline change on the FedNow payment service.
We were expecting July 1st to be the go-live date for the FEDNOW program, but they have shifted one aspect of their Internati.onal Payment Service to a one month earlier date.
FEDNOW money transfers are “now” going to start on June 1st. The implementation of ISO20022 or the International Payment System will make this possible from one financial institution to another.
Are you getting excited yet?
We still need Stablecoins to move into the implementation stage.
Congress has until the end of June to finish this process unless they surprise us.
“World Bank turns to blockchain for tokenizing infrastructure process amid regulatory challenges”
The World Bank is turning to “blockchain” to create physical and organizational structures such as buildings, roads, power supplies, etc. needed for the operation of a society or country.
There are currently several projects they are wanting to implement at this time, but they are waiting on standardized regulatory protocols to move further.
This is why there is a back wall date for Congress to finish the regulatory process on the QFS digital/currency reforms by the end of June.
A new world is waiting to be born.
A New Bretton Woods agreement is being called for at this time.
The Bretton Woods System is a set of agreed-upon rules and policies that standardizes fixed international currency exchange rates.”
Here is a list of three things they focus on:
* “The Bretton Woods Agreement established a system through which a fixed currency exchange rate could be created using gold as the universal standard.”
* “The agreement involved representatives from 44 nations and brought about the creation of the International Monetary Fund (IMF) and the World Bank.”
* “The fixed currency exchange rate system eventually failed; however, it provided much-needed stability at the time of its creation.”
It is being recognized that the world is changing, and the restructuring of our Global Economy needs new standards to guide us into the future.