More News, Rumors and Opinions Thursday Afternoon 6-6-2024
Jack Straw: Black Swan Event Anticipated as Petrodollar Comes to an End
6-6-2024
Jack Straw: On Sunday, June 9, 2024, a “Black Swan” event is anticipated as the Petrodollar comes to an end, leading to a collapse of the global financial system.
With no need for nations to hold U.S. Treasuries as a global reserve asset for oil trade, the U.S. Treasury bond market, which relies on the world’s demand for dollar reserves (off-balance-sheet dollars), will face severe disruption. The termination of the Petrodollar on June 9th eliminates the necessity for countries to maintain U.S. Treasuries as the global reserve asset in oil trade.
Consequently, the Japanese yen is expected to hyper-inflate against their U.S. Treasury holdings, forcing Japan to liquidate all their dollars.
************
“Tennessee Bank Story” by Mary D – 6.5.24
Entry Submitted by Mary D at 11:03 AM ET on June 5, 2024
I WENT INTO MY BANK IN TENNESSEE YESTERDAY AND ASKED THE WOMAN IF THEY HAD LEARNED THE NEW SYSTEM YET?
SHE EXPLAINED TO ME THAT THEY WERE FINISHED WITH THE TRAINING.
SHE THEN ASKED ME IF I HAD FOREIGN CURRENCY. I TOLD HER THAT I HAD ZIM, SOME DONG, AND SOME DINAR.
SHE SMILED AND TOLD ME THAT THINGS ARE MOVING ALONG QUICKER THAN WE THINK AND THAT IS ALL SHE COULD TELL ME.
HAVE A WONDERFUL DAY. LET’S HOPE THINGS START HAPPENING SOON.
https://dinarchronicles.com/2024/06/05/tennessee-union-bank-story-by-mary-d-6-5-24/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV says the budget didn't go to the president for signature but to the publishing in gazette...When the budget is in the Gazette it will go live. So that means a new exchange rate will come soon to correct that new budget because it can't handle all of these projects at a program rate, correct? FRANK: That is correct. It is also the monetary reform plan of Dr. Shabibi.
CharlieOK It would be very hard to have a "contract" if you don't know what you are going to be paid. More than likely, the companies with the "contracts" already know what the rate is. The "contract" would have to be subject to an agreed rate certain, in order to be able to agree to an amount they will agree to be paid in consideration of their services.
************
TNT:
CandyKisses: Gold boosts its luster after important data
Baghdad Today - Follow-up
Gold prices rose during trading today, Thursday (June 6, 2024), with the decline of the dollar and US Treasury yields in light of increasing bets that the US interest rate cut may begin next September, while investors await US nonfarm payrolls data.
By 0258 GMT, gold was up 0.8 percent at $2,373.31 an ounce, after rising one percent in the last session.
US gold futures rose 0.7 percent to $2,392.80.
The dollar index fell 0.2 percent to hover around a near two-month low, and benchmark 10-year US Treasury yields remained near their lowest levels in more than two months.
Tim Waterer, senior market analyst at KCM Trade, said: "Buyers shrugged off the dollar today after weak data in the run-up to the release of nonfarm payrolls data that enabled the price of gold to boom."
"The baseline outlook still looks constructive for gold as we approach possible rate cuts in the second half of the year. However, the $2,300 level could be trending lower if we get a strong reading for nonfarm payrolls specifically."
US private sector hiring fell to a four-month low in May, adding to signs of a weakening labor market. Markets now await Friday's nonfarm payrolls data for more indicators.
Low interest rates reduce the opportunity cost of holding the non-yielding metal.
Among other precious metals, spot silver rose 1.8 percent to $30.54 an ounce, platinum rose 1.2 percent to $1,003.95 and palladium gained 1.2 percent to $942.75.
************
"CASCADING CRISIS." The SET UP IS CLEAR, AND THE TIME FOR YOU TO TAKE ACTION IS NOW!
Greg Mannarino: 6-6-2024
China and BRICS Launch New Digital Currency...What Happens to US Dollar Now?
Cyrus Janssen: 6-6-2024
0:00 - Intro to US Dollar Crisis
2:40 - China Dumps $53 Billion in Treasuries!
4:40 - The US Dollar Lost 24% Purchasing Power in 2 Years!
6:50 - Why Central Banks Are Buying Gold
10:50 - The Tipping Point of the US Dollar
15:50 - How China Stopped US Dollar
18:41 - How US Wars Hurt the US Dollar