Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Good Evening Dinar Recaps,
For the last three and a half years, we have been talking about the new digital economy. We have talked about legislative bills and infrastructure Networks being built to support the new digital banking system.
Currently, we are witnessing several legislative bills moving through Congress today. And, we are witnessing regulations this month formulate new guidelines for this new digital economy.
Earlier this year, we witnessed Protocol 20 begin the process of expansion of networks connecting to each other inside Quantum Technological Protocols.
Payment systems will begin emerging onto the scene as each of these new tokenized assets is currently in the regulation process along with discussions in Congress to push them forward.
At this point, credit valuation adjustments will begin to occur inside the new digital asset-based trading system. The time for price discovery through the movement of supply and demand is about to make itself known.
© Goldilocks
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Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Good Evening Dinar Recaps,
For the last three and a half years, we have been talking about the new digital economy. We have talked about legislative bills and infrastructure Networks being built to support the new digital banking system.
Currently, we are witnessing several legislative bills moving through Congress today. And, we are witnessing regulations this month formulate new guidelines for this new digital economy.
Earlier this year, we witnessed Protocol 20 begin the process of expansion of networks connecting to each other inside Quantum Technological Protocols.
Payment systems will begin emerging onto the scene as each of these new tokenized assets is currently in the regulation process along with discussions in Congress to push them forward.
At this point, credit valuation adjustments will begin to occur inside the new digital asset-based trading system. The time for price discovery through the movement of supply and demand is about to make itself known.
© Goldilocks
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HEARING
Hearing Entitled: SEC Enforcement: Balancing Deterrence with Due Process | Youtube
Tuesday, May 7, 2024 10:00 AM in 2128 Rayburn House Office Building
Capital Markets Subcommittee
Click here to view the Committee Memorandum.
Click here to view the LIVESTREAM of this hearing.
Witnesses
Mr. Andrew Vollmer, Senior Affiliated Scholar at the Mercatus Center and former SEC Deputy General Counsel
Mr. Nick Morgan, President and Founder, Investor Choice Advocates Network
Professor Paul Eckert, Professor of the Practice of Law, College of William & Mary Law School
Mr. John Reed Stark, President, John Reed Stark Consulting Legislation
H.R. 6695, the "Due Process Restoration Act of 2023, to authorize private parties to compel the Securities and Exchange Commission to seek sanctions by filing civil actions, and for other purposes"
H.R. ____, to clarify what constitutes a violation of the federal securities laws for purposes of determining penalty amounts
H.R. ____, to clarify the Securities and Exchange Act of 1934 with respect to civil money penalties and the authority to seek disgorgement
H.R. ____, to repeal the policy of the Securities and Exchange Commission set forth in 17 C.F.R. § 202.5(e)
H.R. ____, to clarify that, like with actions brought under the Securities Exchange Act of 1934, certain actions filed under the Securities Act of 1933 are required to be heard in federal court
H.R. ____ to codify the process to obtain waivers from certain disqualifications under the federal securities laws
H.J.Res. ____ , providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Reporting of Securities Loans”
H.J.Res. ____, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Short Position and Short Activity Reporting by Institutional Investment Managers”
H.J.Res. ____, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Further Definition of ‘As a Part of a Regular Business’ in the Definition of Dealer and Government Securities Dealer in Connection With Certain Liquidity Providers”
H J Res. ____ , providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Form PF; Reporting Requirements for All Filers and Large Hedge Fund Advisers”
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Take a look at this long list of legislative bills that are getting ready to be run through Congress today.
Each in some way deals with all the legislative bills we've been talking about on this channel regarding large hedge funds accounts, Exchange Act procedures, and more.
© Goldilocks
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Central banks must revise business model, embrace CBDCs — ECB member | CoinTelegraph
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RAISE-1 AI Robot Demos 49 Axes Humanoid Using This New Tech (“AGI-BOT” ANDROID, EL BRAIN) | Youtube
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The following keeps you from having to open multiple accounts up to the $250,000 limit FDIC insures.
Here is a way to protect your accounts beyond the normal FDIC caps of coverage.
Look at the following site and see what you think…LINK
If you look at their “participating banks” list, all the major players are there - WF, BofA, Chase, etc...
You can break down a list of participating banks in your state.
Your bank may just already have this available to you, check your state and bank.
Again, you don't know what you don't know.
Building relationships is key when managing wealth.
Always be in learning mode to new opportunities when talking to those in this arena. IntraFi
*Hint - Listen, Check, Validate and Act.
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{Economic: Al-Furat News} The Ministry of Commerce announced the holding of the meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break of more than nine years, headed by the Iraqi side, the economic agent Ghassan Farhan Hamid, and from the American side, the Office of Trade Representation.
The Economic Agent for Trade said in a statement to the Ministry that received a copy of it {Euphrat News} that “the meeting discussed many axes, the most important of which are the agricultural sector, standardization, qualitative control, financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector and government contracts.”
He pointed out “the confirmation during the meetings that the Iraqi government is open to all parties and that economic reform and diversifying the economy are among the priorities to be worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries.” Search4Dinar
WATCH THE WATER
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Why Are Central Banks Buying So Much #Gold? | Youtube
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Learn about the Federal Reserve Bank of New York's gold vault | NewYorkFed
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Stellar Development Foundation Q1 2024 Report: Initiatives and Achievements Propel Growth | Crypto News
By Zoran Spirkovski
As 2024 unfolds, the Stellar Development Foundation (SDF) has released a comprehensive report detailing its accomplishments in the first quarter. The period was marked by significant milestones, including the launch of smart contracts on the network and a remarkable growth in asset value, reflecting Stellar’s increasing influence in the blockchain sector.
The year began with Stellar implementing smart contracts through its new platform, Soroban. This move is poised to revolutionize Stellar’s ecosystem by enhancing functionality and developer engagement. Moreover, the total value of real-world assets held on Stellar reached an impressive $533 million, underpinned by a substantial $1.6 billion in total payments volume processed this quarter. Stellar continues to offer extremely low transaction costs, averaging $0.000065, maintaining its position as a leader in cost efficiency.
Smart Contracts on Stellar: The Soroban Era
Soroban represents a significant leap forward for Stellar, providing a robust, Rust-based environment tailored for developing scalable and sensible smart contracts. This platform not only advances Stellar’s technological framework but also significantly expands its utility and appeal to developers.
The surge to $533 million in assets highlights Stellar’s growing role in financial services, especially through the tokenization of assets. This process enhances liquidity and market efficiency, presenting new opportunities for investment and asset management within the financial sector.
SDF’s efforts have been pivotal in enhancing financial inclusion, with a particular focus on facilitating access to financial services globally. The forthcoming Meridian 2024 conference, scheduled for October 15-17 in London, is set to celebrate these achievements and unveil future initiatives.
In its quest for global expansion and improved security, SDF has been actively engaging with the global community and strengthening its technological stack. A notable initiative is the Soroban Audit Bank (https://stellar.org/blog/developers/the-soroban-audit-bank-fostering-a-secure-smart-contract-ecosystem), which supports security audits for projects on Stellar, ensuring that Stellar remains a secure and reliable platform for all users.
Why It Matters: Stellar’s Strategic Vision
Stellar’s strategic initiatives are shaping a financial landscape that is more inclusive, efficient, and secure. The deployment of smart contracts and the expansion of asset tokenization are just examples of how Stellar is unlocking the potential of blockchain technology to foster a more connected and accessible financial world.
In conclusion, Stellar Development Foundation’s first quarter of 2024 has set a robust pace for the year. With smart contracts live and assets growing, Stellar is poised to further its mission of transforming the global financial landscape, making it more inclusive and efficient through blockchain technology.
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More News, Rumors and Opinions Tuesday Night 5-7-2024
TNT:
Tishwash: Sudanese Advisor: Iraq is a strategic location in the region and the world
Advisor to the Prime Minister for Religious Affairs, Munir Al-Tarihi, confirmed today, Tuesday, that Iraq represents an important region and a strategic bridge in the region and the world.
Al-Tarihi said in an interview with the Maalouma Agency, “Inciting sectarianism and racism does not serve the country,” pointing out that “these moves are part of the West’s attempts to target Iraqi society.”
He added, "Iraq is considered an important region and a strategic bridge connecting the world, so these attempts exist," noting that "the enemies' plans to sow despair among the Iraqi people have failed, and the credit for this goes to the ability and steadfastness of the Iraqis."
He continued, "The Iraqi people have proven to all countries of the world the extent of their ability not to be led by rumors and strife." link
TNT:
Tishwash: Sudanese Advisor: Iraq is a strategic location in the region and the world
Advisor to the Prime Minister for Religious Affairs, Munir Al-Tarihi, confirmed today, Tuesday, that Iraq represents an important region and a strategic bridge in the region and the world.
Al-Tarihi said in an interview with the Maalouma Agency, “Inciting sectarianism and racism does not serve the country,” pointing out that “these moves are part of the West’s attempts to target Iraqi society.”
He added, "Iraq is considered an important region and a strategic bridge connecting the world, so these attempts exist," noting that "the enemies' plans to sow despair among the Iraqi people have failed, and the credit for this goes to the ability and steadfastness of the Iraqis."
He continued, "The Iraqi people have proven to all countries of the world the extent of their ability not to be led by rumors and strife." link
CandyKisses: Oil prices touch $84 in global markets
Economy News - Follow-up
Oil prices rose on Tuesday, after the Israeli occupation bombed the city of Rafah in Gaza, while negotiations on a ceasefire with Hamas continued without reaching an agreement.
Brent crude futures rose 23 cents, or 0.28%, to $83.56 a barrel, and U.S. West Texas Intermediate crude futures gained 24 cents, or 0.31%, to $78.72 a barrel
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CandyKisses: Sudanese Advisor: The oil sector is witnessing a rapid renaissance
Economy News - Baghdad
The financial advisor to Prime Minister Mazhar Mohammed Saleh explained on Tuesday the positive effects resulting from the export launch of natural gas derivatives, while the oil sector is witnessing a rapid development renaissance.
Saleh said, in a statement followed by "Economy News" that "models of economic progress depend on export resources in order to advance the reality of development," noting that "work to diversify the economy is through the diversification of raw material products exported within high value-added chains that reflect positively on the current account of the balance of payments."
He added that "the export launch of a specific type of natural gas derivatives and the development in this direction has two important effects, including the optimal exploitation of some aspects of natural gas resources, which have been wasted by burning, especially the gas associated with oil production, as well as gradual mitigation and compensation for the cost of gas currently imported for specific purposes and used as fuel to operate electric power plants, which depend on natural gas derivatives itself."
He pointed out that "the oil sector today is witnessing an accelerated development renaissance, whether in diversifying products from crude oil or associated gas and natural gas, and generating high flexibility in the attribution of the country's financial resources, whether towards replacing imports of oil and gas products or promoting exports from them according to the calculations of balance between costs and benefits from import and export activities for various types of oil and gas derivatives," noting that it is "the optimal balance base that will be in the interest of the national economy, especially maximizing the country's financial revenues."
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick You cannot have any restriction on your currency if you belong to the SAP. You cannot be on a program rate. A program rate is a restricted currency is it not? Sure it is...This is a very advanced system...The SAP has the same qualifications as the WTO. In fact SAP is part of the WTO...The restriction on currencies that the WTO says you cannot have is the same restrictions that SAP says...They run the same program systems.
Note: SAP ( System Analysis Program Development.)s the market leader in enterprise application software, offering cloud, platform, and sustainability solutions for various industries and business needs.
yada ...this process moved beyond the needs of just Iraq, it had move to the benefits of the 84 countries with contracts with Iraq. The rest of the central banks with dinar in their foreign reserves. And the non-revenue income that will decrease Iraq dependence on oil from 95% do about 55%. Just one rate adjustment will have this impact.
EXPECT IT! BOND YIELDS COULD DROP THROUGH THE FLOOR! What That Means For YOU...
Greg Mannarino: 5-7-2024
Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Good Morning Dinar Recaps,
FDIC TRUST RULE CHANGES: As of April 1st, 2024, the maximum amount of insurance coverage for a trust fund owner with five or more beneficiaries is $1,250,000 per owner.
This is for all trust accounts including "payable on death" and "in trust for" trust accounts. Revocable, and irrevocable trusts held at the same bank are also included.
Trust fund holders can name as many beneficiaries as desired, but the coverage limit will not exceed $1,250,000 as of April 1st, 2024.
This new coverage change applies to existing and new trust accounts. It includes all deposit products including CDs regardless of purchase or maturity date. FDIC © Goldilocks
👆 Goldilocks pointed to this article
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Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Good Morning Dinar Recaps,
FDIC TRUST RULE CHANGES: As of April 1st, 2024, the maximum amount of insurance coverage for a trust fund owner with five or more beneficiaries is $1,250,000 per owner.
This is for all trust accounts including "payable on death" and "in trust for" trust accounts. Revocable, and irrevocable trusts held at the same bank are also included.
Trust fund holders can name as many beneficiaries as desired, but the coverage limit will not exceed $1,250,000 as of April 1st, 2024.
This new coverage change applies to existing and new trust accounts. It includes all deposit products including CDs regardless of purchase or maturity date. FDIC
© Goldilocks
👆 Goldilocks pointed to this article
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Judge Torres' final ruling in Ripple Vs SEC could come this year, most probably in September. | CoinGape
Ripple and the SEC are most likely to appeal lost motions and rulings in the XRP lawsuit.
Settlement can come any time from now to appellate court filings.
XRP price could start rallying backed by bull market sentiment.
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Shafaq News/ Iran and Iraq are poised to sign 23 cooperation agreements on energy, transportation, trade, investments, and banking, the head of Iran's investment organization, Ali Fekri said on Sunday.
These agreements are expected to be finalized during the ongoing sixth meeting of the Iran-Iraq Joint Coordination Committee for Economic Cooperation in Tehran.
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IQD Updates & Journalism Crisis Turkey's President | Youtube
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You Won’t Believe What Nostradamus Predicted For 2024! | Youtube
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It is important to note that all of these changes happening in the banking system as it pertains to our foreign currency exchange.
For the last 20 years, many of these changes have not surfaced until now.
More changes are coming.
Stay awake.
© Goldilocks
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Swiss National Bank Says Wholesale CBDC Eliminates Barriers in Financial Markets | PYMNTS
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Ripple to Launch USD-Backed Stablecoin in June? CTO David Schwartz Hints | Crypto News
👆 Goldilocks pointed to this article
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To handle the challenges of an increasingly complex global landscape, affluent individuals and families are seeking more than just traditional investment advice from their wealth managers. What they truly want are trusted partners who can guide them through all aspects of their financial journey, encompassing their private wealth, business and everyday banking needs—both at home and abroad. | Forbes
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News, Rumors and Opinions Tuesday 5-7-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 7 May 2024
Compiled Tues. 7 May 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 6 May 2024 MarkZ: “I absolutely know this has started. I know people who now have dollars. According to my best contacts in the group, there was an interesting movement of money over the weekend. It’s clearly positioned to go, but I’m not sure we’ll see it today. Wolverine says 1,000% it will go today. We’ve seen a lot of money movement over the weekend so it could go today. I’m not quite certain, though there’s certainly a potential.”
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 7 May 2024
Compiled Tues. 7 May 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Mon. 6 May 2024 MarkZ: “I absolutely know this has started. I know people who now have dollars. According to my best contacts in the group, there was an interesting movement of money over the weekend. It’s clearly positioned to go, but I’m not sure we’ll see it today. Wolverine says 1,000% it will go today. We’ve seen a lot of money movement over the weekend so it could go today. I’m not quite certain, though there’s certainly a potential.”
Mon. 6 May 2024 Wolverine: “It has started. It has started. It has started. It has started. It has started. It has started. It has started. It has started. What I can tell you is that we are liquid. The money is actually available. It’s just a matter of time in order for the Green Light to be given. Exchanges have started. I’ve been told not to say anything more. I can’t give you a date. Remember, it’s a military operation, but we are defiantly close. Take care. Have a beautiful day. Wolverine.”
Mon. 6 May 2024 Wolverine: From a member “My $17,000 old student loan, which was actually a parent loan for my son was just paid in full. I hadn’t paid on it in years cause I knew it was illegal debt so I put it in forbearance. $17,000 was paid in full. Thank you, Nesara!”
Mon. 6 May 2024 Golden Telegraph on Twitter: “Zimbabwe will convert its annual budget to its gold-backed currency. Officially transitioning its currency from paper to gold. Let’s watch”: https://x.com/goldtelegraph_/status/1787550703399182459?s=46
Mon. 6 May 2024: BREAKING NEWS! QUANTUM FINANCIAL SYSTEM (QFS) GOLD-BACKED CERTIFICATES ARE HERE! (rumormillnews.com)
Mon. 6 May 2024 Banking Intel: Commercial Lenders (Relationship Managers) are currently receiving electronic messages to sign up for Foreign Currency Training. Commercial and Investment Banks are a fundamental part of the Foreign Exchange Market. Essentially, they are the ones that push trades through on behalf of their customers and high dollar clients. Commercial Lenders (Relationship Managers) are the go-between by which all participants must trade when it comes to Foreign Currency Exchanges. Since they are the principal sellers (Wealth Managers) within the Forex Market, they are the person who gives someone else authority to act on a client’s behalf.
Goldilocks https://www.streetdirectory.com/travel_guide/145431/banking/role_of_commercial_banks_in_trading_currencies.html#:~:text=Commercial%20and%20investment%20banks%20are,sellers%20within%20the%20Forex%20market. https://learn.org/articles
Central Banks are shutting down — bankrupted. Old financial systems bankrupted. Congress, White House, IRS, Federal Reserve is shut down. U.S. Corporation is bankrupted.
Gold-backed currency, digital assets, QFS, Nesara Gesara is growing! QFS Nesara Gesara is manifested.
Read full post here: https://dinarchronicles.com/2024/05/07/restored-republic-via-a-gcr-update-as-of-may-7-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 I just don't see that it's going to be in a basket. I think it'll be a fixed rate...What would it be? Well they want 1 to 1. IMO maybe $1.50 to 1 or $1.30 to 1. That's a fixed rate. But that fixed rate is going to be put in the international markets - Forex. Because of supply and demand, using, buying and trading with it, the value internationally is going to go up...The CBI seeks what's called a REER, Real Effective Exchange Rate.
Walkingstick The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right. These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ...The float is to build confidence in the country and in the currency of Iraq.
China's Buying More Gold Than Expected | David Woo
Liberty and Finance: 5-6-2024
China has likely been buying more gold than the country admits. David Woo says China is concerned about the weaponization of the US dollar, and they are trying to hide their gold purchases.
This secrecy suggests that China has a lot more purchasing to do.
As geopolitical tensions escalate, oil prices are also likely to rise, and the US economy is likely to weaken.
INTERVIEW TIMELINE:
0:00 Intro
1:38 Chinese gold buying
8:00 Dollar hegemony
18:07 BRICS & gold
25:00 Oil prices
“Tidbits From TNT” Tuesday Morning 5-7-2024
TNT:
Tishwash: It is likely that the 2024 budget schedules will be approved today
The Iraqi government’s delay in approving the budget schedules has raised questions about the existence of a cash crisis in the country, which may soon be reflected in employees’ salaries.
The extent of fears was reinforced by the government's resort to citizens' pockets to fill the gap in the fiscal deficit after the recent decision to raise gasoline prices.
Yesterday, Monday, the Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed new details related to the budget lists and schedules for the year 2024, which are still under discussion in the Council of Ministers.
Saleh suggested, during a press statement, that the Council of Ministers, in today’s session on Tuesday, will discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
TNT:
Tishwash: It is likely that the 2024 budget schedules will be approved today
The Iraqi government’s delay in approving the budget schedules has raised questions about the existence of a cash crisis in the country, which may soon be reflected in employees’ salaries.
The extent of fears was reinforced by the government's resort to citizens' pockets to fill the gap in the fiscal deficit after the recent decision to raise gasoline prices.
Yesterday, Monday, the Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed new details related to the budget lists and schedules for the year 2024, which are still under discussion in the Council of Ministers.
Saleh suggested, during a press statement, that the Council of Ministers, in today’s session on Tuesday, will discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
The Sudanese advisor explained, “The percentage of the deficit in the budget tables is unknown, and it will be determined according to the tables that will be approved by the Council of Ministers, before sending them to the House of Representatives.”
According to what was stated in Law No. 13 of 2023, the lists and tables of the tripartite general budget law should be submitted to the House of Representatives. link
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Tishwash: Al-Sudani receives a delegation from the Union of Arab Banks
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.
The Prime Minister’s Media Office said in a statement, “Today, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.” link
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Tiswash: Politician: America will not leave Iraq, and diplomacy is breathing its last breath
Political analyst Maher Abdel Joudeh revealed on Monday that there is no American intention to leave Iraq and the Middle East, stressing the necessity of adopting diplomatic solutions.
Judeh said in a statement to the Al-Maalouma Agency, “The Sudanese visit did not contribute to resolving the issue of the Americans’ withdrawal from Iraq, and the hopes of the popular circles were in vain.”
He continued, "The diplomatic solution and economic pressure is the effective action capable of pushing American soldiers outside the borders and eliminating their presence," stressing that "Iraq does not need the presence of American forces because the Iraqi forces can protect the country from any terrorist threat."
It is noteworthy that the Iraqi government formed a specialized committee in order to manage the file of the Americans’ exit from Iraq, and it has continued to work according to political controls, but the American efforts to stay may seem stronger this time. link
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CandyKisses: Government move to install gold screening devices at 4 airports
Economy News - Baghdad
The Ministry of Planning clarified, on Tuesday, the mechanism for examining gold in the local markets, and while it indicated that many companies submitted their bids to equip airports with modern equipment, it confirmed that the devices will be in 4 airports.
Ministry spokesman Abdul Zahra al-Hindawi said: "There are procedures regarding the examination of gold at airports that have been implemented during the past months, represented by announcing the request for devices for inspection and the name of gold and non-gold precious jewelry."
"Many specialized companies have submitted and work is underway to select the appropriate bids, so that referral can be made to the concerned company to equip the centres with sensitive equipment," he said.
Al-Hindawi added that "the places and offices for the work of the teams of the Central Organization for Standardization and Quality Control have been identified at the airports of Baghdad, Najaf, Basra and Kirkuk," stressing that "work will begin as soon as we are equipped with devices for the examination and weight of gold jewelry."
With regard to the legal procedures followed against those who sell adulterated or manipulated gold, he explained that "the standardization and quality control teams continue to follow up on gold affairs by granting licenses to goldsmiths, as well as following up on gold in goldsmiths' shops through continuous inspection, as well as following up on licenses granted."
He continued: "If untagged gold jewelry is seized or unlicensed gold jewellery shops are seized, legal action will be taken against violators in this regard and referred to the courts."
He pointed out that "the legal procedures against violators are the withdrawal of the license, the closure of the shop and other severe legal procedures, but if the violation is minor, the jeweler may be alerted to that violation and the need to address it within a specific period of time, and in the event that he does not comply with the warning, legal proceedings will proceed against him."
Mot: ... Somewhere in Madrid, New Mexico
Mot: . Sounds Great to Me!!! --- HUH????
Ariel: Major Update 5-6-2024
Emailed to Recaps:
Ariel: Major Update
It is being reported that financial liquidity is available and there are no risks to the Iraqi dinar. A lot of things are being completed.
Also economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar. He pointed out, "Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit."
But you know what's even better than this?
It is also being reported that the Foreign Currency Exchange Regulations were completed on May 4th, 2024. Report here 👇
Emailed to Recaps:
Ariel: Major Update
It is being reported that financial liquidity is available and there are no risks to the Iraqi dinar. A lot of things are being completed.
Also economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar. He pointed out, "Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit."
But you know what's even better than this?
It is also being reported that the Foreign Currency Exchange Regulations were completed on May 4th, 2024. Report here 👇
What does this mean for Iraqi Dinar holders?
Foreign Currency Exchange Regulations play a crucial role in the Iraqi Dinar revaluation and conversion to USD in 2024 by ensuring the process is conducted smoothly and transparently.
These regulations set the framework for international transactions involving the Iraqi Dinar, which is vital for the currency's international acceptance and stability.
They also help prevent illegal activities like money laundering and support Iraq's efforts to combat the financing of terrorism.
Not to mention Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate. 🤑
Not to mention the parallel market is reaching the official price of the REER-(Real Effective Exchange Rate)
Not to mention the Al-Rafidain Bank announced the application of the new platform that will allow electronic banking for Iraqis. Which is the main branch.
Not to mention the Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed last Thursday, that the 2024 budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects.
Not to mention Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organisation (WTO) after completing economic reforms and improving the business environment.
Not to mention that there is an accession ceremony happening on May 9th for 9 countries, Iraq being one of them per article that came out a month ago.
People you have a lot to look forward to. So please understand the reality of the current situation with regard to your investment. You are being primed to take full advantage of your portfolio with all the info that has come out in support of this inevitable reality.
Enjoy the rest of your day.
Ariel
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Good Evening Dinar Recaps,
"When gold is set free, so are we."
Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.
Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.
In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.
Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Good Evening Dinar Recaps,
"When gold is set free, so are we."
Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.
Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.
In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.
Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.
When the price pressures on gold becomes so great, it will require new formulations of values and a reset in gold will occur. All of our tokenized assets backed by gold, our stablecoins that represents a country's currencies backed by gold, and gold itself will be free to move into a real value.
These new values will be determined by supply and demand, and not, a predetermined price set to parallel a particular World Reserve Asset. This is when we have a reset.
Here is what the final moments look like...
Paper trades in gold and silver on the COMEX Market are stopped.
When trades in paper gold and paper silver in the Futures Market come to a halt, this will enable them to adjust spot prices on physical gold and physical silver.
A slight movement upward (manually done) occurs to encourage trade. This is done over and over again until the market recognizes the new determinations and price correlations.
This is where you see chart gaps happen in the market, and they have to be filled.
Once these gaps are filled and new movement forward on gold and silver are secured, we have a reset. This will reset everything. CME Group NY Times
Everything.
© Goldilocks
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New Bank merger guidelines
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Are Real-Time Payments Near an Inflection Point? BofA Thinks So | Payments
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Banking Intel:
Commercial Lenders (Relationship Managers) are currently receiving electronic messages to sign up for Foreign Currency Training. Street Directory Learn Study
© Goldilocks
👆 By the way, Commercial Lenders are having to report for foreign currency exchange training. It is not an option. It is a requirement.
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Building a User-Friendly Interface for Central Bank Digital Currency Applications: A Case Study | HackerNoon
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If Ripple is not a security, it is a commodity. A precious metal. And, you can currently get it for just over 50 cents.
Many of you have stated that you cannot afford precious metals. Well, you don't have an excuse now. Why would you wait for it to go up?
The case is expected to be finished in September 2024. What are you waiting for? This is not advice, but it is probably one you wished a year from now someone had given to you. Youtube
© Goldilocks
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More News, Rumors and Opinions Monday Afternoon 5-6-2024
TNT:
Tishwash: Iran calls for the use of national currencies in economic exchanges with Iraq
Iranian First Vice President Muhammad Mokhber received, on Monday, Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi.
According to Iranian agencies, during the meeting, an informant said that the achievements and successes of the Iraqi government and people have always been of special importance to the Islamic Republic of Iran, expressing his hope that we will witness, day after day, the achievement of more successes and prosperity for the peoples of the two countries.
Mukhbar considered that facilitating cooperation between the private sector in the two countries is the basis for developing economic relations between Iran and Iraq, and added: The Iranian private sector has a great motivation to work in Iraq, due to the friendly relations between the two countries and the presence of the holy shrines.
He called for the Joint Cooperation Committee to identify obstacles to the development of trade relations between the two countries, and to take the necessary steps to resolve them.
TNT:
Tishwash: Iran calls for the use of national currencies in economic exchanges with Iraq
Iranian First Vice President Muhammad Mokhber received, on Monday, Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi.
According to Iranian agencies, during the meeting, an informant said that the achievements and successes of the Iraqi government and people have always been of special importance to the Islamic Republic of Iran, expressing his hope that we will witness, day after day, the achievement of more successes and prosperity for the peoples of the two countries.
Mukhbar considered that facilitating cooperation between the private sector in the two countries is the basis for developing economic relations between Iran and Iraq, and added: The Iranian private sector has a great motivation to work in Iraq, due to the friendly relations between the two countries and the presence of the holy shrines.
He called for the Joint Cooperation Committee to identify obstacles to the development of trade relations between the two countries, and to take the necessary steps to resolve them.
Mukhbar also stressed the necessity of using national currencies in economic exchanges, pointing out that the friendly, deep and historical relations between the two countries require the use of national currencies in commercial and economic exchanges, instead of using the currency of a third country. link
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Specialist: Floating the dinar is economic suicide" Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change. You don't.
Frank26 there's no set date for this to happen. That's just the way it is. I'm sorry if you can't tolerate that, you should move on. But if you can tolerate what a speculative investment brings into you your life then you understand, oh my gosh...[Saleh] just told the Iraqis the Iraqi citizens that the exchange rate for our currency it's almost reached the official rate and once it does we're calling upon it to float...
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BRICS should be ready for dollar collapse – Russian IMF rep
4/5/24 – Azərbaycan24
The international group could create an alternative currency based on their national legal tenders, according to Alexey Mozhin.
The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin.
In an interview with RIA Novosti published on Friday, the expert noted that the shortcomings of the current financial system are becoming more apparent and that many publications have started to mention BRICS “in the context of the fact that this association can offer an alternative.”
Mozhin explained that it is possible for the economic bloc’s member countries to create a currency that would be “built on a basket of currencies of the five member countries,” which would include the Chinese yuan, Indian rupee, Russian ruble, Brazilian real, and the South African rand.
“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods,” the director told the outlet.
Earlier this year, during a meeting of BRICS finance ministers and heads of central banks, representatives of its member states expressed support for moving away from the dollar and for trading in national currencies instead.
Russia’s Deputy Minister of Finance, Ivan Chebeskov, said at the time that “most countries said that payments in national currencies are what the BRICS countries need. We are already a large BRICS family, consisting of ten countries. Most countries supported the need to build new payment mechanisms and shared their experience developing central bank digital currencies, building new platforms, and participating in pilots of various platforms.”
Chebeskov surmised that the majority of the participants of February’s BRICS forum supported boosting bilateral trade and strengthening economic ties by moving to independent settlement mechanisms in national currencies.
The global trend towards de-dollarization comes after Russia was cut off from the Western financial system following the outbreak of the Ukraine conflict in 2022. Additionally, financial experts have raised concerns that the seizure of Russia’s foreign assets, and Western plans to confiscate these, could further spur the trend. (RT)
Source: Azərbaycan24
https://dinarchronicles.com/2024/05/05/brics-should-be-ready-for-the-collapse-of-the-us-dollar/
LIVE! Did You Miss It? The NEXT PHASE Of CURRENCY DEVALUATION HAS ALREADY BEGUN!
Greg Mannarino: 5-6-2024
On The Verge Of Collapse; This Was 100% Predictable | John Rubino
Liberty and Finance: 5-6-2024
Precious metals have increased substantially this year and are signaling that the public is losing confidence in the financial system.
John Rubino says, "This was predictable from day-1 back in 1971 when we got rid of the last vestiges of the gold-standard."
Governments, institutions, and individuals are drowning in debt. This debt-based system is destroying the financial system and even the moral fabric of society as bankruptcy and debt cancellation become the only options.
"I don't have the slightest idea how this plays out exactly." However, he notes there are actionable steps people can take today to be more prepared for crisis.
INTERVIEW TIMELINE:
0:00 Intro
1:31 Job's numbers
4:00 Stock bear market
6:55 Fed policy during downturn
8:58 Debt situation
16:57 Japan's debt bubble
21:19 Fear trade in gold
28:37 Fighting against authoritarianism
“Tidbits From TNT” Monday 5-6-2024
TNT:
Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency
Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.
The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”
The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link
TNT:
Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency
Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.
The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”
The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link
CandyKisses: Sudani to visit Italy next week
BAGHDAD (NINA) - Political adviser to the Prime Minister Sebhan Mullah Jiyad has revealed a visit by Prime Minister Mohammed Shia al-Sudani to Italy next week.
Mullah Jiyad said in a statement to the official newspaper: "The Prime Minister will go to the Italian capital Rome on a two-day visit starting on the tenth of May," explaining that "this visit comes within the Iraqi diplomatic openness led by the Sudanese government, and linking it to the economic dimension."
He pointed out that "Iraq and Italy have many commonalities at the political and diplomatic levels, as well as interrelated interests at the economic level, as there are many Italian companies that have dealt and are dealing with Iraq, especially in industries related to the energy sectors, in addition to Italy's participation in the international coalition in the war against (ISIS) and its support for Iraq."
He stressed that "this visit comes within the direction to arrange the bilateral relationship between Iraq and the countries of the international coalition in preparation for scheduling its withdrawal from Iraq."
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CandyKisses: The launch of the conference of the Union of Arab Banks in Baghdad
Monday 06, May 2024
Baghdad / Nina / The activities of the Union of Arab Banks Conference, sponsored by the Central Bank of Iraq, were launched in the capital, Baghdad, under the title "Challenges facing Arab banks in complying with international laws and legislation and meeting the requirements of correspondent banks."
The two-day conference, which was held at the Babylon Hotel, was attended by Central Bank Governor Ali Al-Alaq, government and parliamentary figures, and a number of Arab banking and economic officials.
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Tishwash: Arab banks: Iraq supports the transition from dependence on oil revenues to a diversified economy
The Union of Arab Banks confirmed on Monday that the Iraqi government supports the country's transition from dependence on oil revenues to a successful diversified economy, while putting forward four proposals to enhance the compliance environment for Iraqi banks.
The Secretary-General of the Union of Arab Banks, Wissam Hassan, said during the conference “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials, and attended by the correspondent of the Iraqi News Agency (INA): "Enhancing international confidence in Iraqi banks requires additional effort on multiple fronts, to enhance the compliance environment for Iraqi banks."
He pointed out, “There are four proposals to enhance the compliance environment in Iraqi banks. First, Iraqi banks must invest in a strong compliance infrastructure, and the second proposal is to adopt advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs, including It relies on artificial intelligence, which helps in the compliance process and data analysis.”
He added, "The third proposal is to adopt the principle of transparency in banking operations and the preparation of financial reports, in order to build sustainable trust with the international community. The last and most important proposal, in our opinion, is to prepare a comprehensive national plan for capacity development, training and qualification, especially in the field of affiliation."
He continued, "Here the Union of Arab Banks proposes that a committee be established under the name of the National Capacity Development, Training and Qualification Committee, in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks and under the supervision of the Central Bank of Iraq, and its tasks will be training and qualifying Iraqi cadres and building capabilities in the subject of compliance and combating money laundering and terrorist financing." And combating corruption, to become what is called a certified director for combating financial crimes.”
He went on to say: "The committee's mission is also to provide consultation and technical support to develop and choose the special compliance program for each bank, in addition to forming an influence and communication force to develop Iraqi banks' relations with international banking and regulatory authorities, especially American ones, in addition to documenting policies, procedures and internal controls related to compliance for each bank." .
In turn, member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, said during the conference: “Compliance with international laws and legislation is not just a legal necessity, and not just an obligation, but rather an investment in confidence and economic stability, an investment that reflects our commitment to transparency and integrity, and our responsibility to ensure the protection of interests.” Finance, which is, in short, the basis of success and sustainability in mid-range businesses.”
He added, “If the Arab world wants to achieve integration and economic renaissance in the region, economists must recognize the historical moment in Iraq, which is the fourth largest economy in the Middle East and North Africa,” expressing his regret that “our Arab region is one of the least integrated regions in the world, as there is no Two-way trade represents only 18 percent of total trade, as well as of total exports.
He explained, "The Iraqi government today supports the country's transition from dependence on oil revenues to a diversified economy, as a single economy is fraught with risks, while a diversified economy is guaranteed success."
He pointed out that "activating the banking sector requires expanding electronic payment services and ensuring the granting of credit formations and loans by developing work mechanisms, including control and oversight, and enhancing their flexibility while adopting digital solutions, in addition to enhancing information security, combating fraud operations, and ensuring compliance with financial and banking legislation and laws," calling for "Enhancing cooperation in order to build strong foundations for sustainable growth in our Arab region link
Mot: .... Starting to Understand - I Is!!!
Mot: The RV plan (From Recaps Archives)
News, Rumors and Opinions Monday AM 5-6-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 6 May 2024 Compiled Mon. 6 May 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Sun. 5 May Wolverine: “I heard from my sources that it has started, so we are looking at Monday, Monday, Monday (6 May 2024).”
Late Sat. 4 May Ginger’s Liberty Lounge on Telegram: “As of Saturday night, May 4th, there is finally some excitement brewing in Reno. Nothing definite! But RENO IS ON ALERT. I repeat, you can count on this as FACT: Reno is now finally ON ALERT. How fast this goes, remains to be seen – but I found it extremely encouraging. Things are definitely perking up.”
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 6 May 2024
Compiled Mon. 6 May 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Sun. 5 May Wolverine: “I heard from my sources that it has started, so we are looking at Monday, Monday, Monday (6 May 2024).”
Late Sat. 4 May Ginger’s Liberty Lounge on Telegram: “As of Saturday night, May 4th, there is finally some excitement brewing in Reno. Nothing definite! But RENO IS ON ALERT. I repeat, you can count on this as FACT: Reno is now finally ON ALERT. How fast this goes, remains to be seen – but I found it extremely encouraging. Things are definitely perking up.”
Global Financial Crisis:
Central banks are illegally created PRIVATE banks that are owned by the Rothschild banking family. The family has been around for more than 230 years and has slithered its way into each country on this planet, threatened every world leader and their governments and cabinets with physical and economic death and destruction, and then emplaced their own people in these central banks to control and manage each country’s pocketbook. Worse, the Rothschilds also control the machinations of each government at the macro level, not concerning themselves with the daily vicissitudes of our individual personal lives – except when we get too far out of line. …Medeea Greere May 3, 2024
BRICS should be ready for dollar collapse – Russian IMF rep. Russian IMF rep Alexey Mozhin says countries of the BRICS group could create an alternative currency based on their national legal tenders. https://www.rt.com/russia/597003-brics-dollar-allternative-currency/
In March, we learned that BRICS is actively developing a payment system utilizing the blockchain. Many countries are starting to link payment systems. Russia and China have almost stopped using the dollar in their mutual trade. Monetary evolution? Yes. We are in the middle of a real-time chess match fundamentally reshaping our global monetary system. Hot conflicts are erupting worldwide, financial warfare is escalating, and nations are scrambling to secure minerals to reduce dependency on others. The era of a uni-polar world is crumbling, giving way to the rise of a multi-polar global order.
Sun. 5 May 2024 Biggest Banking Crisis of Lifetime is Upon Us: https://beforeitsnews.com/economy/2024/05/the-biggest-banking-crisis-of-our-lifetime-is-already-upon-us-and-its-worse-than-you-think-epic-economist-3110712.html
Sun. 5 May 2024 The Deep State Cabal’s Blackrock Issues Huge US Dollar Warning: https://watcher.guru/news/brics-blackrock-issues-huge-us-dollar-warning
Read full post here: https://dinarchronicles.com/2024/05/06/restored-republic-via-a-gcr-update-as-of-may-6-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 There was a meeting two weeks before that massive entourage meeting that went to DC...They told you we're going to DC to deliver the monetary reform. There was the new exchange rate. They agreed upon it...and went back home and told contractors we're going to rewrite your contracts with that new exchange rate...When they were all done with that...they flew to Washington DC, they delivered the message...and spent over two weeks with powerhouses that are going to build their economy.
Militia Man Non-oil revenues...Iraq has the largest sulfur deposit in the world. They can tap into that. It's going to be part of their non-oil revenues. The amount of natural resources Iraq has is off the charts. Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.
Economist’s “News and Views” Sunday 5-5-2024
BRICS expansion with 24 New Members: All you need to know
Fastepo: 5-4-2024
Recently, it was announced that new members might soon join the BRICS coalition, though their identities have not yet been disclosed.
Our investigative efforts have identified several potential candidates. Considering the significant number of countries that could join, we have analyzed their demographic and economic strengths to estimate the potential impact on BRICS' power.
If you believe any country has been overlooked, please let us know and include your source so we can update our information accordingly.
In this video, we will explore each potential new member, examining their population sizes, economic strengths, and principal exports.
BRICS expansion with 24 New Members: All you need to know
Fastepo: 5-4-2024
Recently, it was announced that new members might soon join the BRICS coalition, though their identities have not yet been disclosed.
Our investigative efforts have identified several potential candidates. Considering the significant number of countries that could join, we have analyzed their demographic and economic strengths to estimate the potential impact on BRICS' power.
If you believe any country has been overlooked, please let us know and include your source so we can update our information accordingly.
In this video, we will explore each potential new member, examining their population sizes, economic strengths, and principal exports.
Please note that the order in which these countries are presented is random and does not imply any ranking or preference.
Economy Entering 'Death Spiral'? Markets Are 'Cornered' | Clem Chambers
David Lin: 5-5-2024
Clem Chambers, CEO of Online Blockchain, gives his outlook for gold, Bitcoin, stock markets, and monetary policy.
0:00 – Intro
1:00 - Market correlations
4:50 - Inflation and fiscal spend
8:47 - Gold price outlook
15:10 - Bitcoin price outlook
18:05 - Stock market outlook
19:43 - UK market
21:53 - Tech stocks
23:50 - Capital gains tax increases
29:33 - Economic death spiral
33:19 - Most bullish asset
Yes, a BRICS Currency Was Announced. No, It Hasn’t Launched
APMEX: 5-5-2024
Our last video about the announcement of an official BRICS currency generated a lot of questions. Today we’re clarifying some of the finer details and diving a little deeper into the topic.
You’ll also find one of the sources we’ve referenced in this description so you can read the interview transcript that has been used by many to report on this topic, including us.
When Russia first stated in 2023 that BRICS would create a new currency, multiple other nations and their representatives denied it, creating an atmosphere of speculation. Sergei Glazyev, a prominent Russian economist, joined an interview where he made it clear a BRICS currency is in development and almost complete.
This information slowly trickled out to western media and was the first known confirmation that a BRICS Currency is in development, not a theoretical concept.
While the payment system is said to be blockchain based, the currency itself is still a mystery.
We don’t know for sure if it will be backed by gold, but it is implied. Glazyev states that one thing this new currency will be based on is “a basket of exchange-traded commodities.”
This statement, along with BRICS nations buying gold at an exceptional rate, makes us believe gold could be included in that basket.
While we know more than we knew a year ago, we still know very little about the actual currency.
Again, there is no official launch date set, but speculation abounds that a common currency with final approval would be introduced to the world and named during the next BRICS Summit in Kazan, Russia between October 22-24th.
We will follow any updates closely and be ready to pass the information on to you.