Not sure how significant this may be, but I found it interesting to note:
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The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met with Bank of England Governor Andrew Bailey in London to discuss strengthening cooperation in monetary policy, digital transformation, and currency management.
Talks covered Iraq’s interest in drawing on the Bank of England’s expertise in updating banknotes and exploring studies on digital currencies.
Al-Alaq highlighted that Iraq’s monetary policy has succeeded in maintaining overall price stability, with inflation dropping to below two percent, the lowest level in the country’s history.
The two sides also reviewed cooperation on foreign reserve management, as part of Iraq’s holdings are kept in the Bank of England’s vaults.
Al-Alaq further urged Bailey to back Iraq’s request to join the Bank for International Settlements in Switzerland, noting the Bank of England’s role on the BIS board.
pmbug said:When rumors of China opening an SGE warehouse in the KSA first surfaced, I was skeptical because I thought there was no way the USA would allow that to happen. It would be conceding the death of the petrodollar if KSA were to start trading oil in RMB/gold with the BRICS+.
When confirmation of China developing an SGE warehouse became evident, I was perplexed. Is the USA asleep at the wheel here?
The KSA-Pakistan defense pact is a huge signal that KSA is no longer looking to be the USA's partner. I think this portends massive changes to the geopolitical and global financial status quo.
Arnaud Bertrand said:I don't think I'm exaggerating by saying that this truly is the US's Suez moment: Saudi Arabia just entered into a NATO-like alliance with Pakistan whereby "any attack on either country is an attack on both."
The symbolic is extraordinary: Saudi Arabia was in many ways THE poster child of US client states. If they no longer trusts American security guarantees, why should anyone else?
And of course the fact this actually happened and wasn't prevented by the U.S. is immensely telling in and of itself.
This has so many other consequences that it's almost too much to fathom:
- First of all, it means that Saudi Arabia now benefits from Pakistan's nuclear deterrence (and the deal does include nuclear: a senior Saudi Official told Al Jazeera that “this is a comprehensive defensive agreement that encompasses all military means”, https://aljazeera.com/news/2025/9/1...tual-defence-pact-with-nuclear-armed-pakistan). Which means we now officially have two nuclear-backed blocs in the Middle East: US-Israel vs Pakistan-Saudi. Additionally, Pakistan explicitly rejects a "no first use" doctrine - meaning Saudi Arabia now has a protector willing to use nuclear weapons preemptively.
- Given that 81% of Pakistan's weapon imports come from China (https://scmp.com/news/china/militar...akistans-arms-imports-past-5-years-sipri-says), it also means that Saudi Arabia just indirectly aligned itself with the Chinese military-industrial complex
- This effectively extends the China-Pakistan Economic Corridor (CPEC) to the Persian Gulf, protected by Pakistani nuclear weapons and Chinese military technology - creating a secure energy corridor from the Middle East to China that completely bypasses the Strait of Malacca
- The timing is probably no coincidence, just days after Israel's strike on Qatar, the ultimate proof of the worthlessness of US protection.
- Other Gulf states, and probably in due times other countries "protected" by the U.S., are likely to explore comparable models in the next few months. In fact this might lead to a cascading collapse of the U.S. global alliance system, leading to an entirely new international system where regional nuclear powers become security providers.
- Hard to see how that doesn't permanently kill any chance of Israel-Saudi normalization: Pakistan does not recognize Israel either and with this alliance the Saudis now can resist US pressure as they don't solely depend on them for their defense
- It puts India in an extremely tough spot: its archenemy just became the security guarantor for one its primary energy suppliers
- This undoubtedly kills IMEC (India-Middle East-Europe Economic Corridor), the Biden administration's flagship grand strategy to counter China's Belt and Road that was supposed to connect India to Europe via Saudi Arabia
- There is a monetary aspect too: this is another nail in the coffin of the petrodollar system (an agreement to price oil exclusively in USD in exchange for US protection). Saudi Arabia is now much more flexible to price oil in whatever currency it wishes
And this is just what's immediately visible. As a final word: if anyone had any remaining doubt that we were now in a multipolar world, that debate is now settled permanently. American global dominance is no more.
China is quietly building a digital gold system that could replace the dollar in trade. Here’s how…
1/
Did you know China runs two gold systems?
1) SHFE → futures, speculation, collateral.
2) SGE → spot, physical settlement, international vaults.
Banks constantly shuffle gold between them.
But a new shift could make both redundant
#Gold #DeDollarization #China #BRICS #DigitalAssets #SoundMoneyImage
2/
Today it’s clunky:
1) Want leverage? Park gold in SHFE warrants.
2) Want to settle trade? Convert into SGE warrants.
Slow. Costly. Limited.
3/
Now imagine: instead of shuffling bars & paper warrants, banks issue gold tokens backed 1:1 by vault reserves.
Move instantly.
24/7.
Across borders.
Fractional (down to grams).
4/
Think of it like this:
1) SHFE = your brokerage account.
2) SGE = your checking account.
3) Gold tokens = one digital wallet that does BOTH.
5/
For people like us
Imagine paying someone in Dubai 0.5 grams of gold with a click.
No bank delays. No Swift. No USD middleman.
Gold finally becomes spendable money.
6/
For countries trading with China
1) Oil from Saudi.
2) Wheat from Russia.
3) Copper from Africa.
All can be settled in gold tokens instead of USD.
Trust shifts from “paper promises” to “vault-backed digital gold
...
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China aims to become custodian of foreign sovereign gold reserves in a bid to strengthen its standing in the global bullion market, according to people familiar with the matter.
The People’s Bank of China is using the Shanghai Gold Exchange to court central banks in friendly countries to buy bullion and store it within the country’s borders, said the people, who spoke on condition of anonymity as the discussions aren’t public. The effort has taken place over recent months and has attracted interest from at least one country, in Southeast Asia, the people said.
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The Ministries of Finance of Russia and China discuss creating an independent depository to replace Euroclear and Clearstream, Russian Finance Minister Anton Siluanov said in an interview with Izvestia on the sidelines of the Moscow Financial Forum.
"Together with our colleagues from the People's Republic of China, we are discussing this difficult but very important issue. The goal is for our investors to be able to freely buy securities in one country from another, without restrictions and obstacles, so that they can safely invest in securities of companies in our countries. We are raising this issue in financial dialogues with the Ministry of Finance of the People's Republic of China," he said.
According to him, this system will be practically no different from Euroclear and Clearstream. The minister added the main thing is accessibility for Russian and Chinese investors.
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<Huitong News September 17 2025>
Chief Executive John Lee Ka-chiu delivered the fourth Policy Address of his current term, announcing plans to accelerate Hong Kong's development as an international gold trading market.
He stated that the HK government has accepted recommendations from the "Task Force on Promoting Gold Market Development," which will be implemented by the Financial Services and the Treasury Bureau. Key measures include: promoting the Airport Authority and financial institutions to expand gold storage facilities in Hong Kong, with a target of exceeding 2,000 tonnes within three years to establish a regional gold reserve hub; encouraging gold merchants to establish or expand refineries in Hong Kong, while exploring toll processing arrangements with the mainland to refine gold for export to Hong Kong for trading and settlement purposes.
The initiative also involves establishing a Hong Kong Gold Central Clearing System to provide efficient and credible clearing services for internationally standardized gold transactions. The Shanghai Gold Exchange has been invited to participate, laying the groundwork for future connectivity with the mainland market. Additionally, efforts will be made to diversify gold investment instruments by assisting issuers in launching gold-focused funds and supporting the development of new products, such as tokenised gold investment products.
Support will be provided for the industry to establish a gold association, creating a communication platform with the government and regulatory bodies. This will enhance promotion efforts, attract Belt and Road clients, and strengthen talent development.
He noted that the Shanghai Gold Exchange International Board has set up its first overseas delivery (交割) warehouse in Hong Kong and launched new contracts for delivery in the city. The government will continue to advance gold market cooperation between Hong Kong and Shanghai.
Eric Yeung said:The Shanghai Gold Exchange Authorized Participant Old Man is spilling information again!
This time he is telling us the possible upcoming locations of the next SGE offshore #Gold vaults (below is the English transcript of his video):
“The Shanghai Gold Exchange plans to establish overseas gold delivery warehouses, and I predict four cities will be prioritized:
Hong Kong, China; Singapore, the hub of Southeast Asia; Zurich, Switzerland, the European hub; and Dubai, UAE, the Middle Eastern hub. These four cities impose no tariffs, value-added taxes, goods and services taxes, or declaration quantity restrictions on the import and export of 9999 gold bars and ingots.
Gold trading is highly active in these locations. Among them, Zurich, Switzerland, serves as the global center for gold refining and storage. Additionally, gold ingots imported into the EU are also exempt from tariffs. For gold bar transactions in these four cities, anti-money laundering declarations and purchase documentation are required.
Furthermore, the Industrial and Commercial Bank of China and the Bank of China have branch vaults in all four cities, making the storage and withdrawal of gold bars and ingots highly convenient.”
More:
China's Xi seeks expanded role for Shanghai Cooperation Organization at Tianjin summit
Chinese President Xi Jinping has announced plans to accelerate the creation of a development bank and set up an international energy cooperation platform.apnews.com
pmbug said:China wants to expand the Shanghai Gold Exchange (SGE) internationally to facilitate RMB for gold trading - essentially encouraging trade partners to trade with RMB because it can be easily converted to gold. The RMB trading takes place using CIPS.
"... CIPS has shown explosive growth (e.g., ~93% increase from 2021 to 2024)."
China appears to be successfully growing CIPS usage and trade volume even without the SGE's RMB-gold trading support fully realized yet.
"CIPS's rapid expansion (average +37% YoY 2021–2024) positions it as a rising challenger, especially for Asia-Pacific trade, but it still relies on SWIFT for ~80% of its messages."
That would appear to be a huge flaw in China's plan to escape American influence in global trade. CIPS still has a long ways to go before it stands on its own legs as a challenger to SWIFT.
| Year | CIPS Value (USD Tn) | SWIFT Value (USD Tn, Est.) | CIPS as % of SWIFT | Year-over-Year Growth (CIPS) |
|---|---|---|---|---|
| 2020 | 7.25 | ~450 | ~1.6% | +30% (from 2019) |
| 2021 | 12.68 | ~450 | ~2.8% | +75% |
| 2022 | 14.03 | ~450 | ~3.1% | +11% |
| 2023 | 17.09 | ~450 | ~3.8% | +22% |
| 2024 | 24.47 | ~450 | ~5.4% | +43% |
America had better get its act together. But what I'm seeing is a huge part of the country that would rather rule over the ashes then work together to protect our security. And its becoming clear at how its all so easy to watch us defeat ourselves.Meanwhile, Washington’s allies, clinging to the Empire’s decaying corpse, are being outmaneuvered. As they debate gender pronouns and export inflation, the rest of the world is securing energy, food, and trade, in their own currencies.
The Governing Council of the European Central Bank (ECB) has decided to further advance the ongoing initiatives to interlink the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service with other fast payment systems globally. The decision is part of the Eurosystem’s overall efforts to make it easier for businesses and consumers in Europe to send and receive payments to and from other countries, including remittances. The decision follows the positive findings of the exploratory work initiated in October 2024 to connect TIPS with India’s Unified Payments Interface (UPI) and with Nexus Global Payments. More specifically, the Governing Council decided to:In September 2025 the Governing Council launched work to assess the feasibility of a connection between TIPS and the Swiss Interbank Clearing Instant Payments system.
- start the realisation phase for interlinking TIPS with UPI while in parallel completing the legal arrangements and technical implementation;
- continue exploring the feasibility of a potential connection to Nexus Global Payments while in parallel completing the necessary legal arrangements and agreements.
Interlinking TIPS with other fast payment systems contributes to the Eurosystem’s retail payments strategy and the G20 roadmap for faster, cheaper and more transparent and inclusive cross-border payments, while also supporting the international role of the euro. The long-term ambition is therefore to extend this work to additional currency corridors.
Payment service providers interested in using currency corridors can contact <redacted> for more information on the functional set-up.
India’s UPI is an instant payments system developed by the National Payments Corporation of India and regulated by the Reserve Bank of India. UPI has one of the largest instant payment transaction volumes in the world and India is among the top ten recipients of euro area remittances.
Nexus Global Payments is a multilateral payments scheme managed by Nexus Global Payments Ltd. It will initially connect the fast payment systems of Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore, the Bank of Thailand and the Reserve Bank of India. The original concept was developed by the Bank for International Settlements Innovation Hub Centre in Singapore.
I read this article when it came out & 1'st thing I thought - Someone just called out the Bully.Interesting read. DYODD
Nigeria Ignites a Global Rebellion Against the Dollar Rule - FrontPageAfrica
What happened in Nigeria recently isn’t just another currency dispute. It’s the moment the American empire’s mask slipped completely off. President Trump just threatened military action against a sovereign African nation for making an economic decision about its own oil exports. Think about that...frontpageafricaonline.com
A new step toward digital, transparent, and resilient economic cooperation
The International Institute for Applied Systems Analysis (IRIAS) today (November 10, 2025) announced its initiative to develop a blockchain-based settlement token on the Cardano network, marking a major milestone in its mission to address global systemic challenges through technological and economic innovation.
Founded in 1976 under intergovernmental agreements and granted special legal status by the 1980 Budapest Convention, IRIAS has long been dedicated to developing scientific and systemic solutions to complex global issues — including economic instability, technological fragmentation, and governance inefficiencies.
Building on its legacy of research and innovation in economic planning, management systems, and international cooperation, IRIAS continues its foray into blockchain universe by introducing a digital token designed for transparent, secure, and apolitical settlement of economic value.
A Bridge Between Research, Systems Analysis, and Digital Finance
The initiative has led to the development of the UNIT Project — a new digital unit of measure issued through a token backed by a diversified basket of international currencies (60%) and gold (40%), combining the stability of traditional assets with the transparency of blockchain technology. By building on Cardano, the UNIT token benefits from a platform that is not only technically advanced and resilient but also aligned with the principles of decentralization and inclusivity that underpin the UNIT ecosystem.
The IRIAS–UNIT product represents a direct continuation of IRIAS’s core mission — applying systems science and information technologies to foster global stability and cooperation.
The forthcoming IRIAS Token called “UNIT” will leverage the Cardano blockchain to enable:
Transparent and verifiable settlement systems rooted in decentralized infrastructure;
Stable and asset-linked value representation reducing exposure to inflation and financial volatility;
Cross-border interoperability for trade, investment, and public-private innovation;
Scientific management and strategic planning tools supported by real-time, verifiable data on-chain.
Toward a Science-Based Monetary Infrastructure
By introducing the UNIT token, IRIAS seeks to advance its statutory goals of developing intelligent management and control systems, innovation-driven crisis management frameworks, and scientifically grounded approaches to global economic coordination. This vision closely aligns with the origins of the Cardano blockchain, which was itself built on a science-based, peer-reviewed approach to achieving trust, transparency, and technological resilience.
This initiative positions IRIAS at the intersection of systems research and digital finance, offering governments, institutions, and enterprises a foundation for more resilient, transparent, and inclusive economic interactions.
“Our mission has always been to bridge science and governance. With blockchain, we now have the means to create an adaptive and trustworthy digital economic system — one that reflects the principles IRIAS was founded upon.” said an IRIAS representative.
As global finance increasingly shifts toward decentralized infrastructures, the IRIAS Token “UNIT” on Cardano blockchain demonstrates how intergovernmental institutions can lead innovation while preserving neutrality, transparency, and scientific rigor.
...
Not sure if Mr. Escobar actually knows something that isn't public knowledge, or just echoing what's already known about the BRICS wanting to set up a bloc payments system.
Welcome to The Unit – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025.
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... the Unit proposes a reliable, quick and economically efficient solution for cross-border payments. The - transactional - Unit is a game-changer as a...
Finally the opening shot across the bow of the USA HegemonyHere's the press release on the UNIT's news:
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The UNIT was first discussed here in this thread back in May 2024:
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Not sure if Mr. Escobar actually knows something that isn't public knowledge, or just echoing what's already known about the BRICS wanting to set up a bloc payments system.
Pepe's latest:Welcome to The Unit – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025.
...
... the Unit proposes a reliable, quick and economically efficient solution for cross-border payments. The - transactional - Unit is a game-changer as a...
Just my personal view.
A few hours later ...
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