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GESARA Part 25 – Greatness rolling out! Shelton Confirmed!!

July 21, 2020

Judy Shelton is a big advocate for the “Gold Standard.

And Charlie Ward was right. He said today should be the roll-out for the QFS. And guess what? It is.

Just in: The Trump administration establishes $75 million Quantum computing centers. This is the QFS….…So it begins today. This is HUGE news…..Thank you Charlie Ward.   QFS Computing

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Trump administration establishes $75 million quantum computing centers

By Maggie Miller – 07/21/20 12:10 PM EDT

The White House Office of Science and Technology Policy and the National Science Foundation (NSF) announced Tuesday the establishment of three quantum computing centers across the nation, involving an investment of $75 million.

The new Quantum Leap Challenge Institutes will each receive $25 million to address research and development in the quantum computing space, along with helping to develop curriculum for students in the quantum computing field to help expand the workforce in this area.

The center set to be established at the University of California Berkeley will address present and future quantum computing, while the center at the University of Illinois will focus on hybrid quantum architecture and networks. The third institute, at the University of Colorado, will look into the development of quantum sensors to help with more precise measurements across a variety of fields.

U.S. Chief Technology Officer Michael Kratsios said in a statement that the new centers would boost “cutting-edge industries of tomorrow.”

“With the announcement of three new quantum institutes, the Trump Administration is making a bold statement that the United States will remain the global home for QIS research,” Kratsios said. “Our new Quantum Leap Challenge Institutes will advance America’s long history of breakthrough discoveries and generate critical advancements for years to come.”

The establishment of the centers stems from a provision in the National Quantum Initiative Act, which President Trump signed into law in 2018. The law requires the director of the NSF to award funding to universities to help establish between two to five “multidisciplinary centers for quantum research and education.”

NSF Director Sethuraman Panchanathan said in a statement Tuesday that “within five years, we are confident these institutes can make tangible advances to help carry us into a true quantum revolution.”

“Quantum information science has the potential to change the world,” he added. “But to realize that potential, we must first answer some fundamental research questions. Through the Quantum Leap Challenge Institutes, NSF is making targeted investments.”

The establishment of the centers comes as the Trump administration is attempting to increase funding for quantum initiatives in the 2021 fiscal year, with President Trump proposing a 50 percent increase in the budget for quantum information science research.

There has been further interest in the issue of quantum computing on Capitol Hill as well, with leaders of the Senate Commerce Committee introducing legislation in January meant to increase investments in artificial intelligence and quantum computing.

A separate bipartisan group of lawmakers led by Senate Minority Leader Charles Schumer (D-N.Y.) in May introduced the Endless Frontiers Act to create a Directorate of Technology at the NSF that would be given $100 billion over five years to invest in American research and technology issues, including quantum computing.

Senate panel approves nomination of Judy Shelton to Fed board seat

Published: July 21, 2020 at 2:48 p.m. ET

By Greg Robb

Controversial nominee approved by narrow party-line vote.

The Senate Banking Committee on Tuesday approved Judy Shelton, an early supporter and adviser to President Donald Trump, to a seat on the Federal Reserve board of governors.

The committee also approved the nomination of Christopher Waller, head of economic research at the St. Louis Fed, to fill another vacancy on the seven-member board.

Shelton, a controversial nominee, was approved by a party-line vote of 13 to 12. Waller was approved by a wider margin of 18-7.

Shelton has been controversial because she has a long record of vocal advocacy for some form of a gold standard, which would tie the value of the U.S. dollar to the price of gold. Until the Great Depression destroyed the policy, central banks had used a gold standard to set monetary policy.

Democrats united against her nomination because they view a gold-standard as ignoring the plight of workers in policy making.

Sen. Mike Crapo, a Republican from Idaho and the chairman of the Banking Committee, defending Shelton, saying she would “broaden and diversify” the Fed’s perspective. He downplayed her prior support for the gold standard.

In her nomination hearing, Shelton had backed away from her prior writings.

Democrats charged that Shelton had not changed her stripes and would have made the coronavirus crisis worse if she were on the Fed board at the advent of the pandemic.

“A regulator’s job is not to … revive debunked economic theories,” said Sen. Sherrod Brown of Ohio, who is the ranking Democrat on the banking panel.

For the past few months, Shelton’s nomination looked t be in danger after some Republicans, notably Sen. John Kennedy from Louisiana, appeared to withhold support for Shelton.

On Monday, Kennedy said he had finally decided to support Shelton’s nomination.

David Wilcox, a former senior Fed staff member, wrote an op-ed in the Hill newspaper urging the Senate panel not to vote in favor of Shelton’s nomination. He said the gold standard might require Fed officials to raise interest rates in a downturn just because gold was flowing out of the country, regardless of the concurrent destruction of millions of jobs.

Some Fed watchers think Shelton would be on Trump’s shortlist to lead the Fed if the president is re-elected on Nov. 3.

Fed Chairman Jerome Powell’s four-year term as chairman ends in 2022. Trump at times has been harshly critical of Powell, whom he nominated after deciding not to tap Janet Yellen for a second term as chairwoman, and has publicly mused about removing him from his post. Most analysts think there is only a small chance Trump would nominate Powell for a second term.

If the two nominees are approved, Trump will have selected six of the seven Fed governors. Fed officials have staggered 14-year terms that don’t adjust for new governors. For instance, Shelton’s term would end in 2024, and under Fed rules she could then be renominated for a full term. The seat to which Waller is destined expires in 2030.

In addition to the Fed board, there are also 12 regional Federal Reserve Bank presidents who help set interest-rate policy. Yet it is the seven-member board of governors that is in charge of the emergency powers that the central bank has used during the pandemic to make loans to all corners of the financial markets and to private firms.

Some analysts said Trump’s appointees could slow any bank reforms proposed by Joe Biden if he is elected president.

Shelton’s and Waller’s nominations now move to the full Senate for confirmation. In order to be confirmed, Shelton can only lose three Republican votes if the Democrats are united in opposition.