More News, Rumors and Opinions Monday PM 6-17-2024
TNT:
Tishwash: What are the consequences of Saudi Arabia’s decision on the global economy?
Professor of Economics at Al-Maqal University, Nabil Al-Marsoumi, revealed the implications of Saudi Arabia’s decision not to renew the economic agreement with the United States of America.
Al-Marsoumi stated in a blog post followed by “Al-Eqtisad News” that “Saudi Arabia’s decision not to renew the economic agreement, known as the ‘Petro-Dollar’ agreement, which was signed with the United States in 1974 for a period of 50 years and related to pricing oil in dollars, would encourage other oil-producing countries to sell oil.” In currencies other than the dollar.
He added, “It is expected that this decision, if actually implemented, will weaken confidence in the dollar globally, decrease its value, raise interest rates, increase inflation levels, and weaken the US bond market.” link
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Tishwash: Advisor to the Prime Minister: Iraq is safe from any international financial risks
Advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Monday, that Iraq ranked distinguished among international groups that follow the best banking compliance systems, which makes it safe from any international financial risks, indicating that the international community also praised the solidity of the financial and banking system. .
Saleh told the Iraqi News Agency (INA): “Cash issuance mechanisms are one of the exclusive powers of the Central Bank of Iraq as it is the issuing bank based on its Law No. 56 of 2004,” indicating that “what is published here and there about problems with cash liquidity is far from the institutional basis.”
The well-established monetary authority in Iraq, which is one of the most important authorities concerned with the issues of the availability of cash liquidity and the stability of the payments system, which contributes to the sustainability of the stability of transactions in the national economy.
He added, "Managing cash liquidity, building the monetary foundation, and controlling liquidity levels in the country are subject to the principle of a long-term plan that is consistent with achieving the operational objectives of monetary policy in order to achieve the intermediate goals of stability and sustainable economic growth and determine the stability of long-term cash flows."
He stated that "Iraq occupies a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks," pointing out that "Iraq is a cornerstone of regional and international financial cooperation institutions in the scope of combating money laundering and money laundering crimes." Crime and terrorism."
He stated that "Iraq recently received clear, positive praise for its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region, which was held in the Kingdom of Bahrain, and it is a testimony from the international financial community that confirms the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations." . link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 The ATM machines IMO are being loaded up. IMO we have some US military forces protecting these ATM machines that are being loaded with he lower denomination notes that will reflect a new exchange rate...They are distributing them all over. Banks are assigned to fill them up with lower notes. I don't know if they're doing it now or if they have done it or they're in the process of doing it. That's the phase I believe these ATM machines are in right now.
Walkingstick When they load or if they have loaded them up [new ATMs], the note count has already been determined. The note count for each individual machine has already been accounted for...These machines will be the state of the art...State of the art has nothing to do with a program rate. If it was they would have had the state-or-the-art with the program rate for the last 20 years...The CBI is desperately trying to put out the least amount of currency at the onset before they release the new exchange rate. Because once they do this, if needed, they will be able to add to this note count as the value is needed.
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BREAKING: 97 Countries To Attend BRICS 2024 In Russia *How You Can Invest NOW*
Ashley in Africa: 6-15-2024
De-dollarization: 27 Countries Ditch US dollar
Fastpo: 6-17-2024
Countries and regional groups are increasingly diversifying away from the US dollar in trade transactions.
This trend, known as de-dollarization, aims to reduce dependency on a single currency and promote economic stability by utilizing a mix of currencies.
By embracing their own monetary units more prominently, nations seek to lower geopolitical risks and bolster local economies.
This evolving landscape is reshaping global trade and finance dynamics and has the potential to alter the significance of the US dollar in the global economy.
In this video, we delve into the recent shifts by various countries towards reducing their reliance on the US dollar in international transactions.
We explore the motivations behind these decisions and provide insights into their economic strategies.
Furthermore, we analyze the de-dollarization initiatives within the BRICS+ bloc, focusing on the substantial measures these nations have implemented to broaden the scope of currencies used in global trade.