Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Good evening Dinar Recaps,

NEW YORK, N.Y. — "The Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), sponsored by CFTC Commissioner Caroline D. Pham, advanced two recommendations to examine the impacts of proposed U.S. bank capital requirements and to improve collateral and liquidity management for non-centrally cleared derivatives." | CFTC

Recommendations:

1. Global Market Structure Subcommittee Recommendation – "Report on the Impact of the US Bank Capital Proposals on End-Users that Rely on Cleared Derivatives Markets"

This first recommendation deals with Capital Requirements and corresponding collateral that is put up to ensure that both sides of a trade moves through the system.

In many cases, this will represent gold for large transactions inside of large foreign currency exchanges.

The London Clearing House and the Chicago Mercantile Exchange are two examples of Clearing Houses that will process our transactions.

2. Technical Issues Subcommittee   Recommendation – "Variation Margin Processes in Non-Centrally Cleared Markets"

Non-centrally cleared markets happen in markets where transactions are moved through the system without the involvement of a central counterparty or custodian.

Examples of non-centrally cleared markets include:

* Non-centrally cleared bilateral repo (NCCBR) market

This concept deals with credit given on both sides of a trade to execute the process allowing a trade to go forward.

* Non-centrally cleared derivatives (NCCDs)

And, this concept deals with clearing derivative product details such as interest rates, foreign exchange trades, credit, commodity, and Equity trades.

On the new Digital Asset Based Trading System, Smart Derivative Contract Clearing can now be done through digital mechanisms capable of processing these informational data points at the touch of a button.

Here, we have Gold and Technology merging into synchronized partnerships designed to clear a market transaction or a banking portfolio with a few strokes of a keyboard.   CFTC

© Goldilocks

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Instant Cross-Border Payments Announcement:

"The BIS unveiled Project Rialto (https://www.bis.org/about/bisih/topics/cbdc/rialto.htm) a new foreign exchange (FX) module looking to improve FX settlement for instant cross border payments. It will use wholesale central bank digital currencies (wholesale CBDC) as the settlement asset. The FX module could be used as an add on for solutions that interlink instant payment solutions, such as Project Nexus, or as part of a digital asset settlement solution."

Wholesale CBDC will be utilized in foreign currency exchanges. I know many of you will have a question about this procedure, so I looked into it a little bit further to give you the following sentence. Once your funds reach your personal banking account, it does not transition into Retail CBDC.

A retail CBDC is for general public use, and wholesale CBDC is for the banking system to utilize. It remains to be seen at what level we will see a retail CBDC if at all. If retail CBDC is adopted, the public has made it known that the government is going to have to continue working on the privacy issue. Time will tell on this one.   BIS   Ledger Insights   World Economic Forum

© Goldilocks

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Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets. | The Tokenizer

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Tokenized Exotic RWAs Are Piquing Investor Interest | Forbes

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The U.S. Faster Payments Council (FPC) has recognized Ripple among companies like Visa and Mastercard set to compete for dominance in currency conversion for digital assets. | The Crypto To Basic

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France’s prudential regulator advances work on certification of smart contracts | Ledger Insights

As part of a speech (https://www.banque-france.fr/en/governors-interventions/future-money-regulatory-and-policy-issues-related-introduction-cbdcs) earlier this week, the First Deputy Governor of the Banque de France (https://www.banque-france.fr/), Denis Beau, revealed that the ACPR is working with the industry to certify smart contracts. The Autorité de Contrôle Prudentiel et de Résolution, ACPR, is the prudential regulatory arm of the central bank.

“Work is continuing in 2024 with stakeholders on one of the ACPR’s key proposals, namely the mandatory certification of smart contracts prior to their use,” he said. Mr Beau noted that early French crypto-asset regulations had heavily influenced the MiCA regulations.

Last April the ACPR shared some proposals on the possibility of regulating DeFi. They fell into three buckets:
* Security standards for private DLTs and public blockchains
* Certifying smart contracts
* Regulating DeFi entry points such as websites.

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Can Ripple take over SWIFT? While Ripple might have the potential to take over SWIFT, it is also possible that SWIFT might leverage its considerable resources and reputation and pivot its services to include blockchain technology in some format. | Daily Coin

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Bretton Woods 3 - New World Monetary Order | Youtube 

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5 yr projections | US Debt Clock

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"Tokenization can leverage the efficiency and transparency of blockchains to help modernize U.S. markets." | Twitter

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UAE Central Bank Approves Stablecoin Licensing – CryptoMode

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“Iraq to Start Mining Bitcoin with UAE on Nation-State Level” | Youtube

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More News, Rumors and Opinions Wednesday Afternoon 6-5-2024

Turkey expresses its desire to become member of BRICS

This was announced by the head of the country’s Foreign Ministry Hakan Fidan

04.06.24 11:45

Turkey wants to join BRICS and it is expected that this issue will be discussed at the meeting of ministers of the association in Nizhny Novgorod. Turkish Foreign Minister Hakan Fidan, who is on a visit to China, made such a statement. This is reported by  South China Morning Post (SCMP).

“Certainly, we would like to become a member of Brics. So we’ll see how it goes this year,” he stated.

During the CCG event, Fidan said he looked forward to attending a meeting of the mechanism in Russia next week when foreign ministers from Brics countries – Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates – will meet in the western Russian city of Nizhny Novgorod as part of the lead-up to the October summit in Kazan.

At that meeting, the possibility of Turkey joining BRICS is expected to be one of the topics on the agenda.

“We see potential in BRICS,” he added.

Russian Presidential Spokesman Dmitry Peskov said that Russia welcomes Turkey’s interest in BRICS.

Six new members, including Argentina, were invited to join the group in August 2023, but declined to join in late December. Five new members – Egypt, Ethiopia, Iran, Egypt, Saudi Arabia and the UAE – began full BRICS membership on 1 January 2024.

Source: TV BRICS

https://dinarchronicles.com/2024/06/05/turkiye-expresses-desire-to-become-a-brics-member/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Deepwoodz  Article quote: "the Presidency of the House of Representatives sent the 2024 budget tables to the Ministry of Justice for publication in the Al-Waqe’at newspaper."  So I’m guessing President Rashid signed that bad boy immediately following the parliament vote. We are moving like greased lightning!

Mnt Goat   This month I believe is going to be a critical month for us investors...  Article:  "CENTRAL BANK: THE ISSUANCE OF NEW MONETARY DENOMINATIONS WILL NOT AFFECT THE DINAR EXCHANGE RATE”  I would consider this “WOW!” news.  Quote:  "... the issuance of new cash denominations, large or small, will not affect the dinar exchange rate."   If the CBI drops the zeros (project to delete the zeros) the rate of the dinar will remain the same in-country of Iraq.  It only changes when the reinstatement back to FOREX occurs...the value is already in the dinar... only the rate, right now, does not reflect the true rate... Why...on May 27th did the CBI make this announcement about the issuance   of newer lower denominations?   Could they be heading into June for the redenomination of the three zero notes?

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Talk of the budget iqd iraq

Nader: 6-5-2024

https://www.youtube.com/watch?v=f1OHdMYoLoE

SILVER ALERT! Does the US Mint Hold a Massive Silver Short Position on the COMEX?!

(Bix Weir)  6-5-2024

It's so sad that the US Investors have to battle the US Government to have Silver freely traded on US Exchanges! Case in point - the US Mint runs one of the largest silver hedgebooks on the planet and they 100% use it to "tamp down" the price of silver when it starts moving too high, too fast. What they are doing at the US Mint is criminal!

https://www.youtube.com/watch?v=8scKnL8iBH0

News, Rumors and Opinions Wednesday AM 6-5-2024

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.

Restored Republic via a GCR: Update as of Wed. 5 June 2024

Compiled Wed. 5 June 2024 12:01 am EST by Judy Byington

Judy Note: Overnight Monday 3 June 2024 $517,000,000,000 in unrealized losses surfaced in 63 US Banks and pushed them toward the brink of insolvency. By Sun. 9 June 2024 the Petrodollar would end – all of which was expected to trigger a Global Financial Crisis by early next week.

Timing:

On Sun. 9 June 2024 Black Swan Event Expected as the Petrodollar Ends and Global Financial System implodes since there was no longer a need for nations to hold US Treasuries as the Global World Reserve Asset in oil trade. The U.S. Treasury bond market is funded off the World needing dollar reserves aka bank derivatives (off balance sheet dollars). When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade. The Japanese Yen will hyper-inflate against their U.S. Treasury holdings. Japan will be forced to liquidate all their dollars

Global Currency Reset:  (Rumors/Opinions )

Tues. 4 June 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

Tomorrow Wed. 5 June the new currency rates should be fixed.

Bruce’s Source in Iraq spoke with PM Sidani – he said rates on Dinar were handed over to the official record and would show up Wed. 5 June as a fixed rate.

On Wed. 5 June the Iraqi Gazette should publish the new Iraqi Dinar Rate and we could begin our exchanges – likely on Thurs. 6 June.

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Tues. 4 June Wolverine: “Get ready everyone as we are about to reach this new World.”

The “Bondholder” expects to be paid his commission tomorrow Wed. 5 June. Liquid Thursday 6 June.

My friend Mauricio is having event in Mexico starting around June 8th, not that far off to celebrate this incredible blessing and also give people all the info they need for Nesara/Gesara. What does that mean? If he is having an event, it means IMO that he probably got paid or will get probably be paid before he goes to Mexico.  Having an event as big as that means something!

I have been told by various sources that certain operations will start in Brazil today Tues 4 June, and hopefully will get this done by tomorrow Wed. 5 June. I am trying to see if that is happening and hopefully received that Green Light from Brazil.

Tomorrow Wed. 5 June, I hear that Reno starts.  As you know, high bondholders are getting paid, some have been waiting now for 48 hours for their payment.  Everything is happening and I think this is the week we have been waiting for. 

The Pentecostal group sent out a message that they are ready to get things started.  She must be careful as she has been targeted by unscrupulous people, but she has top lawyers to take care of this matter. She sent out an intel that she is basically ready to get this done. Her other leaders sent out an emotional message saying that “The time of waiting is over.  We are finally here!” This came from one of the top leaders in that platform.

I am sure Bruce will have something. He has not been for the last two calls. Where is Bruce? I know he has gone blind. I am not sure what is going on with his vision.  If you can all pray for Bruce so he can get well, and hopefully get access to the Medbeds.  So all your intel providers: MarkZ can barely walk, Bruce can’t see, Wolverine can’t hear, and Charlie Ward with a certain illness, but we will not give up on you guys.

If I get that Green Light from Brazil and all is flowing, then I will have an emergency live call to celebrate, as it will be the official start for us. Hopefully, Reno will start tomorrow Wed. 5 June. Just get ready and hopefully I will get that call through. Take care, Wolverine

Tues. 4 June AAGabriel: “The US four code masters are waiting for the call to put in the codes. Estimated two days to complete the remaining funding transactions. The timing of when to send out notifications is up to the readiness of the staff and the Redemption Center locations. Could be any day now. Maybe Thursday 6 June 2024.”

Tues. 4 June Banker “Well folks, the information I have rec’ed today indicates a number of the large bondholder paymasters have been invited to Reno to begin exchanging their bond portfolios over the next 24 to 48 hour window.  We are then scheduled to begin receiving notification to begin scheduling appointments.  I have this info from three sources and am waiting confirmation from the banker, hopefully tonight or early AM Wed. 5 June 2024.”

Tues. 4 June 2024 Ron D.  “I called William the VP at Bank Note World and 100 Trillions.  He told me he is only allowed to sell $1000 a day per customer of Dong and Dinar.  I asked him who regulates him and he told me the US Treasury.  Ask yourself why would the US Treasury regulate a company that only sells collectible currencies?  I asked him why currencies like the Digitals increased in price ten hold over the past few days?  He told me they can no longer buy new uncirculated currencies (read into that).  He still gets circulated currency.  He told me the 100T Zim is now $300 for uncirculated and he is not sure if he can get anymore uncirculated ones. This can only mean Countries are no longer printing and selling new currency and that makes total sense with the RV coming and currencies switching over to asset backed.  Keep in mind he is really limited on what he can really tell me (wink and nod).”

Tues. 4 June 2024 Salty Mountain: “We know we should go to a redemption center. I am a business owner and a long time ago, we had to have a Tier 1 bank for large merchant account deposits.  I have been a Private Client of Chase for years. I have an assigned banker, which changed 19 months ago. When we first met, I asked her some basic questions about RV. She knew nothing. Over time, I tried to make conversation and tried to politely ask currency questions. About 8 months pass,  and suddenly the banker is curious and starts asking me questions.  She started asking her Superiors the questions i asked her. Since then, every time she sees me, she wants to see what i know. I do the same to her and on we share information. Recently she went through training on Foreign Currency.  About a month ago, she called me and asked me formally if I would be exchanging with Chase. She was putting together some form of “priority” clients for the exchange.  She asked about my currencies, knowing I had Zim and she mentioned they would not be exchanging all my currencies and I would have to go to a RC. I already knew this, but we been using each other for info for months….I have helped her more than she has helped me, but she always gets me the answers I seek. I also opened another business account at a credit union about 15 months ago and have been tapering Chase off.  Recently, she accidentally told me where my Redemption Center is.”

Mon. 3 June 2024 TNT Tony: “All banks were on HIGH, HIGH alert starting Sunday night 2 June through Thursday morning 6 June. They said by Thursday morning definitely, you are going to have people walking in your door, a bunch of brand new customers. Banks have pending rates and some are saying we are waiting right now to be notified of the release of the 800 numbers. The Federal Reserve said they were called in on Mon. 3 June to be at their desks. They are passing out money in Iraq and activating projects. Everyone I talk to say they are trying to go anytime now. We are there. The rates are good. Everyone is excited. So I hope you guys are ready.”

On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.

Mon. 3 June MarkZ: “The Iraqi Parliament passed the budget today. Folks are geared up for this week. I have been told by a number of them that they are ready and positioned.”

Tues. 4 June 2024: BREAKING: $517,000,000,000 in Unrealized Losses Hit US Banking System, FDIC Says 63 Lenders on Brink of Insolvency – American Media Group (amg-news.com) https://beforeitsnews.com/economy/2024/06/things-just-went-from-very-bad-to-much-worse-overnight-517000000000-in-unrealized-losses-hit-banking-system-fdic-says-critical-updates-greg-mannarino-3112676.html

Read full post here:  https://dinarchronicles.com/2024/06/05/restored-republic-via-a-gcr-update-as-of-june-5-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

GameofPatience  So the budget is approved at the present dinar value of 1,310, that's not a rate change. It will be interesting to see what happens next.  The only way to change/revise a law is to amend it. So they would need to Amend the 2024 budget sometime later to change the currency value.

Militia Man  Article quote: "What is the impact of the use of electronic payments on the Iraqi dinar?   The electronic payment process will contribute to the government in withdrawing the cash mass available to the public."  It's in black and white...This isn't something that's new.  This was February 25th...They've been working on this for quite some time...1.6 trillion is a big deal.  It's an affirmation they have been on track to do what? ...reduce the note counts.  They've done that.

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Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates

Edu Matrix:  6-4-2024

Summary / Status: Iraqi Dinar ReValue - What the Central Bank of Iraq is Doing and What it Did NOT Do. Exchange Rates IQD VND

https://www.youtube.com/watch?v=LenoyhnDYbE

BANK FAILURES: $517 Billion in Unrealized Losses, $9.3 Billion in Bad Loans Will Spark a Crisis

Lena Petrova:  6-4-2024

https://www.youtube.com/watch?v=YUbzv8r_88Y

“Tidbits From TNT” Wednesday Morning 6-5-2024

TNT:

Tishwash:  Angry demonstrators storm an American company in Baghdad

On Tuesday, angry demonstrators stormed the building of an American company in Baghdad.
A security source told Mawazine News, "Angry demonstrators stormed the building of the American company Procter & Gamble in the Uwaireej area, south of Baghdad."

He added, "The security services were on alert towards the Uwairaj area in Baghdad." link

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Tishwash:  Financial inclusion in Iraq: a success story that defies the odds

In the wake of the American invasion of Iraq in 2003, the financial system collapsed and the phenomenon of hoarding money spread, as a result of the loss of confidence in the banking sector after the closure of most branches of foreign banks operating in Iraq, and the faltering of some local banks.

To address this crisis, the Iraqi Deposit Insurance Company began establishment procedures in 2008 with the aim of protecting depositors’ funds and enhancing their confidence in the banking system, which is vital for achieving sustainable economic development.

The company has achieved remarkable success in its mission, as it has witnessed a significant increase in the number of bank accounts and the size of deposits since its establishment. In 2009, total deposits in Iraqi banks amounted to $8.05 billion, and this number rose to $76.5 billion in 2021. This significant increase is largely due to the company’s efforts to enhance confidence in the banking system and encourage citizens to save.

This significant increase in deposits clearly reflects the effective role played by the company in stimulating the culture of savings and encouraging citizens to deposit their money in banks instead of keeping it at home.

These numbers indicate that the Iraqi Deposit Insurance Company is on the right track towards achieving its strategic goals, which are enhancing financial stability and reducing the phenomenon of hoarding, and thus contributing to advancing economic growth in Iraq. ink 

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Tishwash:  The government's lack of seriousness in removing the Americans leaves Iraq exposed to them

It seems that there is nothing hidden from the Americans inside Iraq, as they know everything and eavesdrop on everything, and all this while the government is silent in the face of the popular will that calls for the removal of the American occupier from the country.

An international coalition led by the United States toppled the former regime in 2003, then Washington declared itself an occupying force in the country.

In 2008, the United States and Iraq concluded the Strategic Framework Agreement, which paved the way for the complete withdrawal of American forces in late 2011 after 8 years of occupation. The agreement regulates relations between the two countries at various political, security, economic, cultural and other levels.

American forces returned to Iraq at the request of Iraqi Prime Minister Haider al-Abadi in 2014, after the terrorist organization ISIS invaded a third of Iraq's area in the north and west.

America came with about 60 countries under the pretext of fighting the terrorist organization, before Iraq regained all of its territory from the organization in 2017 after 3 years of war, with the help of the Popular Mobilization Forces and the rest of the security forces.

Baghdad and Washington agreed to withdraw all combat forces from the international coalition by the end of 2021, but America remains to this day and has committed many crimes against Iraqi civilians, in addition to committing dozens of assassinations that targeted the mujahideen from the national forces and voices.

In the previous parliamentary session, the Iraqi parliament voted to completely withdraw American forces from Iraqi territory, but there was no withdrawal.

During the era of the government of Muhammad Shiaa al-Sudani, pressure increased on this government to expel the American occupier, and the Sudanese actually demanded that the Americans withdraw from Iraq, but it seems that these calls were to calm the angry street and nothing more, despite the talk of the head of the Supreme Committee to End the Mission of the International Coalition, the Chief of Staff of the Army, Lieutenant General Staff Abdul Amir Rashid Yarallah, with the continuation of consultations and the presence of seriousness in removing the occupier.

Political analyst Qasim Balshan questioned the government's statements to remove the American occupier from Iraq, describing them as “media consumption.”

alshan told Al-Ma'louma, “Everything that is said about movements to remove American forces from Iraq is just talk for media consumption.”

He explained, “Removing these forces lies with the Commander-in-Chief of the Armed Forces and not with the House of Representatives, which voted in the previous parliamentary session to remove the American occupier from Iraq.”

He pointed out, "The framework agreement signed during the era of former Prime Minister Nouri al-Maliki stipulated that the withdrawal of forces would be at an official request from the Commander-in-Chief of the Armed Forces," noting that "Sudanese did "Do not submit this request to the American administration."

While the head of the Presence Movement, Muhammad Abu Saida, criticized the continuation of American air sorties in Iraqi airspace and the military presence without any actual movement from the government to end the presence of these forces.

Abu Saida told Al-Maalouma, “Ain al-Assad base contains more than 1,950 American soldiers from the Marine unit and more than 4,500 soldiers inside the American embassy in central Baghdad. These forces remain and there is no movement towards removing them from Iraq.”

He added, "American forces are present in various types of military bases, as everything that is said about their exit from Iraq is just talk."

He stated that "American aircraft continue their sorties in Iraqi airspace, to collect information and visual and audio data through special eavesdropping devices."  link

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Mot: .. Nutting but ~~~~~

Mot: .. Nooooooo Body Told Me - Way Back then!!!!

A Big Change For The Iraqi Dinar: The Economic Ninja

A Big Change For The Iraqi Dinar:

The Economic Ninja:  6-4-2024

Iraq may see a big buyer for the IQD now that China has forged a big deal for Iraqi Natural Gas.

This will bring in buyers for the Iraqi dinar and will strengthen the value of the dinar.

https://www.youtube.com/watch?v=ezjNLyvZMYg

More News, Rumors and Opinions Tuesday PM 6-4-2024

KTFA:

The Iraqi government sets days for the Eid al-Adha holiday

6/4/2024

On Tuesday, the Iraqi government set the days for the Eid al-Adha holiday, which will fall on Sunday, June 16.

The Prime Minister’s Media Office said in a statement received by Shafaq News Agency, “Prime Minister Muhammad Shiaa Al-Sudani directed that the Eid Al-Adha holiday be for official departments, starting from Sunday, June 16, until Thursday, June 20, provided that official work resumes on Sunday.” June 23.”  LINK

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DeepWoodz:  They’ve changed the rate without budgets before. No reason they can’t do it at will. To start the float. 

The key here is the size of the budget and the international standards being applied along with the upgraded banking systems. 

They have a plan. Watch em work it. They appear to be pushing hard in the right direction. 

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Supreme Court Ruling: State sponsored Banks can Disband from The Federal Reserve System and Issue their Own Currency.

Mark Thursday May 30th, 2024 as #EndtheFed day. Doing Simple Math this Sets Fundamental Value of Gold at $25,000 per ounce and Silver $417 per ounce.

The Silver Academy:  Jun 01, 2024

• States banks can issue their own gold backed currency bypassing the Federal Reserve

• Ruling just released Thursday May 30, 2024 (Mark this on your calendar as #EndtheFed day)

• State sponsored banks do not have to adhere to the Federal Reserve charter

• And states can then acquire gold reserves for their state banks

• and disband from the Federal Reserve system.

We have confirmation that the USA effectively has a dual banking system.

Each state in the USA operates its own banking system, parallel to the Federal Reserve. While the Federal Reserve has inflicted severe pain locally and globally, the Supreme Court has upheld the state's right to maintain its own charter, independent of the corporate Fed system.

The Federal Reserve doesn't respect state rights for banks to adhere to their own charter outside the control of Washington, D.C., (but these are the same animals when asked by Ron Paul that don't believe Gold and Silver are money, thus proving they don't want competition - LOL)

But states are taking their power back. (The Silver Academy recognizes Money Metals and Sound Money Defense League for their zealous work in fueling a State to State movement. )

Major kudos to Stefan Gleason and Jp Cortez

This document below (smash the blue button) shows that we never needed the Federal Reserve on a legal basis.

How? Simple.

Banks with federal charters, called national banks, are subject primarily to federal oversight and regulation. Banks with state charters, called state banks, are subject to additional state oversight and regulation. Those two banking systems co-exist and compete.

Now you have it in writing. Officially.

Read Supreme Court Document:  https://www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf

https://thesilverindustry.substack.com/p/supreme-court-ruling-state-sponsored

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat    "The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed...the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next week."   Folks this is all positive news and exactly what we should expect to see at this point in time. Yes, it is now all about the Banking Reforms. This is what is going to get the dinar to officially pass the dollar. We already know the value is greater and so now we just need to go through the motions to get it recognized to its true value.

Militia Man  They got it [the budget] done...What does it have to do?  It's got to go to the Gazette...whether that's going be on Wednesday which is 24 or 48 hours or is it going to be Saturday or will it go all the way out...15 days.  We're going to find out.

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Sudani is happy coalition is leaving

Nader: 60402924

https://www.youtube.com/watch?v=sK962q10h-w

Are The Central Banks Moving Back to Gold? Egon Von Greyerz and Lynette Zang Discuss

Lynete Zang:  6-4-2024

https://www.youtube.com/watch?v=35Jt4m9SRMM

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Good Evening Dinar Recaps,

"The State Bank of Vietnam (SBV) started selling gold directly to four state-owned commercial banks today (June 3), aiming to lower the metal’s domestic price. The institutions will then sell the gold bars to the public."

This new monetary policy shift will continue as Vietnam attempts to narrow the difference between the domestic and global gold bar prices per SBV officials. It is an attempt to revalue gold through resetting its price.

This diversifies their people's portfolio, and it gives the banking system a broader strength to their accounts. In return, it gives the SBV an opportunity expand their net worth and give out loans.

Vietnam has been accumulating gold in order to join the BRICS Nations. One of the requirements is that they do accumulate gold to support their banking system.

Can you see where this is going now? Everything across the board from the markets, the banking systems, the shipping ports, and to the people are turning to gold to deflate an inflated economy.

Through Tokenized Assets, our Global Economies will have a real value on every product that can be bought and sold including Forex opportunities.

I look to see these opportunities begin to shift in July for Vietnam as they become a Market Economy. Can it happen before that time?  English News  Central Banking   English News 2  Wikipedia

We are about to find out.

© Goldilocks

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We finally have some prices placed on the US Debt Clock. It has been empty for some time. In fact, many countries in the East have been wondering when those numbers would show up. Well, they are here now.

This doesn't mean that these are prices that are set in stone. It just means they are prices to work from going forward as our world resets the price of gold and reclassifies gold as money. https://www.usdebtclock.org/

Gold will set us free!

© Goldilocks

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It is the revaluation of Gold that will set the tone for the new economy. It will determine, to some degree, the price of all goods and services across all asset classes.

© Goldilocks

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MiCA Regulations Force Binance to Overhaul Stablecoin Services | Finance Magnates

"Starting June 30, 2024, the European Economic Area (EEA) will enforce new regulations under the Markets in Crypto-Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world's largest cryptocurrency exchanges, plans to roll out changes to ensure compliance, impacting everything from trading to rewards.

Only regulated companies can issue and offer stablecoins, termed regulated stablecoins. Many existing stablecoins do not meet these criteria and will be designated as unauthorized stablecoins, facing various restrictions on Binance's platform, the cryptocurrency exchange said in a statement on its website."

Remember, stablecoins represent a country's currency. The new regulations will be going into effect on June 30th, 2024.

This will begin to determine new prices in the new digital economy regarding trade relations around the world.

An increase in demand for local currencies around the world that have moved from a dollar regimen to a local currency regiment will begin.

This is when credit valuation adjustments begin. It does not mean new rates will happen overnight. In fact, to determine new price correlations on the market requires algorithmic patterns to set in that become normalized.

Watch the water.

© Goldilocks

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EXCELLENT NEWS Iraq's Leap in Electronic Banking | Youtube

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Next generation correspondent banking | BIS

Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model.

The tokenization of correspondent banking, as embodied in Project Agorá (BIS (2024b)), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.

Tokenization could substantially reduce duplication and miscoordination, thereby revitalising cross-border payments by fostering a robust network of correspondents and corridors.

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Russia and China 'close' to replacing SWIFT — business regulator. |  Azerbaycan24

👆  Goldilocks pointed to this article

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Sexy Bank Deals, Ripple Story, How to Distribute the XRP Escrow, When Smart Contracts on XRP Ledger | Youtube

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Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud - Fintech Singapore

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Event: Hearing Entitled: Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets |  Financial Services.House

When: Wednesday, June 5, 2024 9:00 AM in 2128 Rayburn House Office Building

What: Subcommittee on Digital Assets, Financial Technology and Inclusion

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UAE Central Bank Approves Issuance of Stablecoin Regulation | Cryptopolitan

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BREAKING NEWS

TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS

Awkward…      Read: Twitter

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If Russia Accepts Gold for Oil, Gold Price Doubles to $3,600, Says Credit Suisse’s Zoltan Pozsar | BMG Group

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WATCH HERE

Power of copper = Free Healing

⚡️Copper + Gardening - Cultivate Elevate

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Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates | Youtube

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THE U.S. GOVERNMENT WILL REPLACE SWIFT WITH RIPPLE XRP | Youtube

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BOOOOOOOOOOOOOOOOOOM!!!

Brad Garlinghouse indirectly says that the case will end this summer with the payment of a fine in the millions, not billions.

#XRP would be the first FULLY regulated digital asset in the United States of America! | Twitter

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“Tidbits From TNT” Tuesday 6-4-2024

TNT:

Tishwash: Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

************

Tishwash:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

************

CandyKisses:  Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f)."

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

************

Tishwash: Oil prices shock the markets and Brent falls to $77

Oil prices fell in early trading on Tuesday, continuing the losses of the previous session when prices fell to their lowest levels in four months, with investors concerned about increased supplies later in the year.

Brent crude futures fell 20 cents, or 0.3%, to $77.77 per barrel. Brent crude closed below $80 for the first time since February 7, after falling more than 3% yesterday, Monday.

US West Texas Intermediate crude futures fell 17 cents, or 0.2%, to $74.05, and closed near the lowest level in four months yesterday after falling 3.6%.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as the OPEC+ group, agreed on Sunday to extend most oil production cuts until 2025, but left room to gradually cancel the voluntary cuts by eight members starting in October.

Signs of weak demand growth have also weighed on oil prices in the past few months, with a focus on data on fuel consumption in the United States.

The average price of gasoline in the United States fell 5.8 cents to $3.50 a gallon yesterday, Monday, according to GasBuddy data.   link

 **********

Mot ..... Just ASaying -- bet Noone will Notice this Un!!!!  Almost summer

Mot: .. Dang - I LOL -- on dis un!!!  Hummingbirds

News, Rumors and Opinions Tuesday AM 6-4-2024

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. 4 June 2024

Compiled Tues. 4 June 2024 12:01 am EST by Judy Byington,

Black Swan Event:

Global Financial System Implosion Expected Around Sun. 9 June When Petrodollar Ends.

Gold To Kill The Fed.

Judy Note – The Storm: On Sunday 9 June 2024 the ending of the Petrodollar was expected to trigger a Black Swan Financial Event via a Global Financial Crash – that would usher in a Global Currency Reset to gold/asset-backed currencies of 209 nations. This would take away the Cabal’s control of the World’s Financial System that has been present since 1918 and give The People’s tax monies back to The People.

~~~~~~~~~~

Timing:  (Rumors/Opinions)

On Sun. 9 June 2024 Black Swan Event Expected as the Petrodollar Ends and Global Financial System implodes since there was no longer a need for nations to hold US Treasuries as the Global World Reserve Asset in oil trade. The U.S. Treasury bond market is funded off the World needing dollar reserves aka bank derivatives (off balance sheet dollars). When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade. The Japanese Yen will hyper-inflate against their U.S. Treasury holdings. Japan will be forced to liquidate all their dollars

Global Currency Reset: (Rumors/Opinions)

Mon. 3 June 2024 TNT Tony: “It was supposed to happen Saturday night, but then it was to happen on Sunday due to a hiccup, and it is supposed to happen tonight.  So the real deal is that it did not go on Sunday, because the finance committee did not do their part in Iraq, did not do their vote. There was a small hiccup.  But as I have sent out on Twitter, the vote has gone through the finance committee and vote has gone through the House of Representatives. Those are the things we wanted to see.

We are hoping to see a rate, we know there is a new rate, and we know it is going through. All banks are HIGH HIGH alert.

They were told yesterday, but it took some time, as some bank contacts called me last evening and some in the morning, that they were all put on high alert starting last night through Thursday morning.

They said by Thursday morning, definitely, you are going to have people walking in your door, a bunch of brand new customers (that was yesterday). Talking to them today, they do have pending rates and some of them are saying we are waiting right now to be notified of the release of the 800 numbers. Let’s hope it happens. 

 Federal Reserve said they were just called in within the last hour. Everyone is to report to their station. Right now as we speak.  With all this excitement, everything is pending, and I will give praise where praise is due

Ray has been telling you guys about the Venezuelan Bolivar, rate predictions, right now, rate prediction for Bolivar on screen right now is 0.36 and is climbing. Ray predicts between 22 and 55. It is at 0.36 and climbing right now. It is on the bank screen at this time. 

Today is a good day. We have nothing to do but wait for the announcement. They are passing out money in Iraq. Activating projects. We are at a good time we just have to wait.  Not sure if it is 72 minutes or 72 hours. The rate has not been announced the rate there yet, but maybe they wait till Wednesday for the Gazette. But everyone I talk to they say they are trying to go anytime now. 

But we are there. The rates are good. Everyone is excited. So I hope you guys are ready.”

On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.

~~~~~~~~~~

Mon. 3 June MarkZ: “The Iraqi Parliament passed the budget today. Folks are geared up for this week. I have been told by a number of them that they are ready and positioned.”

Fri. 31 May Wolverine: “I received an official notification from Brazil that confirmed the release order for Colombia, USA, Brazil. The representative of the Columbian project manager begins with his delivery protocols to his Tier4B. Leading representative internet group starts in June. I received another message from a very strong contact, a Whale, from Zurich, saying he got the same message. Reno – I have been told, is about to kick off.  So by next week, everything will be looking beautiful. The foundations are all funded. They are ready to go. This is not a rumor. This is fact that is coming through.

~~~~~~~~~~~~~

Global Financial Crisis:

Mon. 3 June 2024: Multiple NYSE stocks have now been halted on volatility due to a technical issue. Berkshire Hathaway stock is currently down 99.97%.Warren Buffet just lost 99% of his wealth “due to a glitch in the Matrix.” Down $135B

Mon. 3 June 2024 FDIC Says 63 Lenders on Brink of Insolvency. https://dailyhodl.com/2024/06/02/517000000000-in-unrealized-losses-hit-us-banking-system-as-fdic-warns-63-lenders-on-brink-of-insolvency/

Mon. 3 June 2024: BOMBSHELL!!! GOLD WILL KILL THE FED, SILVER WILL BURY IT: How Basel III and IV Will Ignite the Precious Metals Market! – American Media Group (amg-news.com)

Read full post here:  https://dinarchronicles.com/2024/06/04/restored-republic-via-a-gcr-update-as-of-june-4-2024/

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Deepwoodz   Question:  "Don't they have a deadline for these budget things by June 9th?"  I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.

Militia Man  They're talking about a massive deficit...$210 trillion budget...It's insane.   They don't have that kind of money.  What are they doing? Now they're going to increase it?!?...And these guys have it on "agenda for a confirmed and imminent completion" of it [the budget].  There's something up folks because 1310 doesn't work.

************

LIVE! Vast Debt Expansion And Currency Devaluation WILL FURTHER DISTORT Asset Prices.

Greg Mannarino:  6-3-2024

https://www.youtube.com/watch?v=NemX8cgjYJI

Wave Of Central Bank Rate Cuts This Month, ‘Black Swan’ Still Looms | Axel Merk

David Lin:  6-3-2024

Axel Merk, CIO and President of Merk Investments, discusses the "signs of weakness" the economy is showing, as well as the impact of lower central bank policy rates on markets.

0:00 – Intro

 1:22 - Recession is 'black swan'?

7:55 - Fiscal policy and deficit

9:46 - Inflation and market reaction

13:19 - Central bank cuts

15:30 - Economic risks

17:30 - Outlook on stocks

22:00 - Gold and gold stocks

https://www.youtube.com/watch?v=onyUitqzYTc

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Daniela Cambone:  6-3-2024

“If you have to go back to a gold standard, yeah, $27,000 would have to be the [gold] price in order to avoid massive deflation,” says Jim Richards, New York Times bestselling author.

He explains to Daniela Cambone that it’s “more likely” we will return to the gold standard as people lose confidence in fiat currency.

 Moreover, as the money supply skyrockets while the supply of gold remains the same, the price of gold is propped up. He also states the danger when Russia reiterates the West by suing Euroclear, the largest clearing, settlement, and custody organization in Europe.

CHAPTERS

00:00 Going back to gold standard

4:18 Likely of going back to gold standard

https://www.youtube.com/watch?v=t49iE4BaVs4

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Good evening Dinar Recaps,

Qatar Central Bank Announcement | QNA

Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."

Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.

Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system.  QNA

© Goldilocks

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"Louisiana Reaffirms Gold and Silver As Legal Tender"

Louisiana is the latest of many states that have gone through the legislative process to confirm that gold and silver are now considered legal tender and cannot be taxed.

This allows new monetary policies to form an expansive view of precious metals now being incorporated into the payment system as a form of legal tender.

On May 8th, 2024, "U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion."

The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League is currently on the table to consider precious metals on par with the US dollar.

This will keep money in the hands of the people instead of the federal government who want to grab capital gains tax on the use of what was formerly known as a solid payment system.

At the present time, 40 States have passed some form of Sound Money legislation. The next step is to take these new measures to the Federal Government.  Morning Star  Money Metals  Congress  Forbes

Gold will set us free!

© Goldilocks

~~~~~~~~~

The following is a list of recent bank mergers and acquisitions that are currently taking place. This list grows daily, and you can refer to it anytime you like through the link below.

We have talked about this as being part of the end game when we move from Fiat to Gold for the last 3 years.
***************************
The banking system is currently in a liquidity crisis that is not being talked about, and many changes are taking place behind the scenes.

I see these bank mergers as part of the process that will move our money into a safer Financial System than before, and one that will meet the needs of the next stage of our evolution financially and spiritually.   iBanknet

We are truly witnessing the rebirth of a Global Nation.

© Goldilocks

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"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"

Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency.

Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World.

The need for these entities is going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange.  CBI   Bank Note World
© Goldilocks

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READ HERE

file-171741265259795.pdf

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A financial storm is coming that governments cannot fight | Finance Yahoo

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Aeroponic Farming in India: Simplest and Best Guide Ever | Times of Agriculture

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Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself as a leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. | PwC

~~~~~~~~~

USD3 Announcement | Crypto Reporter

Fintech company  Stable.com announced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players.

USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone.

It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.

USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.

~~~~~~~~~

‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge - The Daily Hodl

~~~~~~~~~

Here’s Everything You Need To Know About Banking-as-a-Service | Inc42

~~~~~~~~~

Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.

Both Gold and Digital Assets are in their final phases of legislative development and completion.

Enjoy the show.

© Goldilocks

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VaultChain Gold  | Kitco

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LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod  | Youtube

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In 1912, American financier and investment banker J.P. Morgan said, “Gold is money. Everything else is credit” during his testimony before Congress.

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"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use of XRP in a public questionnaire about CBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." | The Crypto Basic

~~~~~~~~~

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Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Notes From the Field By James Hickman (Simon Black) June 3 2024

Next month will mark 80 years since the US dollar was formally anointed as the world’s reserve currency.

It was July 1944. And with the war in Europe near its denouement, governments were already trying to plan what the postwar world would look like. Most urgently, they needed to figure out how to rebuild their devastated economies.

Just think about the mess they were in: nearly every industrialized country in Europe had been destroyed by war. Manufacturing and farming were both in the dumps, and they had very little savings to invest in economic revival.

They also had a gigantic mess when it came to international trade. Dozens of countries each had their own currencies, so commercial trade meant each government keeping 20-30 currencies in reserve.

France, for example, would have to hold Austrian schillings, British pounds, Spanish pesetas, Italian lira, Dutch guilders, Soviet rubles, etc. in reserve, just to be able to trade.

A much, much simpler solution was for every country to use the same currency to trade with each other. And there was no question about which currency would be the right choice: the US dollar.

In 1944, the United States still had a strong and powerful economy. It had robust capital markets and a well-developed financial system. It was the only country left standing.

So, representatives from more than 40 nations gathered that summer in picturesque Bretton Woods, New Hampshire and formally agreed to use the US dollar for international trade and commerce.

More specifically, each country fixed its exchange rate to the US dollar, while the US dollar was fixed to gold.

It only lasted about thirty years. By the early 1970s, the original Bretton Woods deal had been completely undone. Currencies floated freely against each other (including the dollar), and the US dollar terminated its link with gold.

And yet (thanks in part to Saudi Arabia agreeing to sell oil in dollars), the US dollar has continued to remain the dominant reserve currency through today.

For the most part that was still a sensible bet; the US has been the world’s #1 economy for the past five decades. But the cracks are obvious.

The US federal debt is a national embarrassment. At $35 trillion, the debt is far larger than the entire US economy… and it gets worse every year.

The US government is also completely dysfunctional. The vitriol and enmity, among the parties and within the parties, is so extreme that virtually nothing productive or beneficial ever takes place. The business of government now is merely two sides screaming that the other is a threat to democracy.

The President barely knows where he is half the time, and the other half he spends shredding the Constitution to engage in some anti-capitalist, inflationary, fanatical woke climate agenda.

Sadly, this isn’t a one-time blip. America’s governance and finances have been deteriorating for most of this century-- starting with the endlessly expensive War on Terror, through the free-spending Obama years, to the pandemic… and now the very real prospect that the next four years could look very similar to the previous four years.

America is supposed to be a reliable, stabilizing force in the world. But today’s America has lost its grip. And foreign nations have noticed.

Most people alive today don’t remember a world in which the dollar wasn’t #1 and therefore cannot fathom a world in which this is no longer the case. But it’s irrational to assume that something will continue indefinitely, forever, simply because of the status quo today.

It’s not 1944 anymore. Back then there were no other options… and no one who even came close to rivaling the military and economic superiority of the United States.

Today both of those are in decline. It’s not to say the military can no longer fight or that the economy is in complete shambles. But America no longer has the unrivaled position it enjoyed for so long.

More importantly, the trend isn’t looking good. From an economic perspective, the national debt is set to increase by another $20 trillion over the next decade… likely triggering a nasty run of stagflation like the US experienced in the 1970s.

The US military, meanwhile, continues its downward slide. Recruitment is absolutely abysmal. Key weapons systems, fighter jets, tanks, and naval vessels are borderline obsolete.

The US Navy’s fleet of ships and submarines (which would be critical in any conflict against China) is the oldest and smallest it’s been since the end of World War II. Nearly 1,000 military aircraft will be retired from service in the next five years alone, and there is no concrete plan to replace them.

Nor is there any money to do so.

Frankly it is exceedingly difficult to believe that, in light of America’s declining power and prestige, the rest of the world will continue accepting the US dollar as the global reserve currency for much longer.

We’re already seeing signs of this change; plenty of countries are starting to trade with one another in different currencies, including Chinese renminbi and Indian rupee, and this trend will likely accelerate over the next several years.

I think it’s even possible there could be an event of some sort-- perhaps the US government defaults on its debt, or there’s even a shooting war or cyberattack-- which triggers a new Bretton Woods style conference.

The key difference between now and 1944 is that there was only one option back then-- the US. And pretty much everyone had confidence in America.

That’s not the case today. Few rational people have the same level of confidence in the US government. Yet almost no one trusts the Chinese either.

But just like 1944, there is an obvious solution… and one that everyone already trusts: gold.

Nearly every country already holds gold as a reserve asset, so there would be very little change to the way they currently do business.

I’ve written about this before-- I believe this is why so many central banks around the world have been on a gold-buying spree. In fact, this is THE reason why gold is near its all-time high: central banks have been buying it by the metric ton.

You have to understand that central banks aren’t speculators. They don’t care about price. They buy for strategic reasons… and I believe that the central bank gold purchases that have been occurring over the past few years are a key sign that the global financial regime will be changing.

Individual investors, meanwhile, have been selling gold.

North American investors have sold off more than $4 billion worth of gold ETFs in the first four months of this year, with $2 billion of that just in the month of April. And gold ETF holdings are now at their lowest level in four years.

Central banks are buying. Individual investors are selling. It seems pretty clear that people aren’t paying attention to the warning signs.

Yes, gold is near its all-time high. But that doesn’t mean it can’t go much higher… especially if there’s a catalyst. And there absolutely is.

As a final point, I would point out again that even while gold is near its all-time high, shares of high quality, profitable, dividend-paying gold miners are laughably cheap.

That’s because central banks only buy physical gold bullion (which has pushed up the price of gold). They do not buy gold stocks… hence many of these businesses are available for outrageous bargains.

To your freedom,   James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/gold-will-soon-displace-the-us-dollar-and-americans-are-missing-out-151007/

“Tidbits From TNT” Monday 6-3-2024

TNT:

Tishwash: It includes international agencies...preparing to open the largest mall in an Iraqi governorate

The Muthanna Investment Authority announced today, Monday, the imminent opening of (Al-Baraka Mall) in the center of Samawah city, implemented by investor Sheikh Hatem Al-Khawam, and it is considered one of the largest malls in the governorate and neighboring governorates. 

Chairman of the Muthanna Investment Authority, Adel Dakhel Al-Yasiri, said, “This important commercial center, which was built on an area of ​​(12,300 square meters), includes (100) various stores, (12) restaurants and hypermarkets with an area of ​​(2,000 square meters), a children’s play area with an area of ​​(1,300 square meters), and a coffee shop.” And branches of several banks and international agencies for clothing and meals, and a garage that can accommodate (80) vehicles, and the implementation of a multi-storey garage is underway in addition to the project to accommodate more vehicles. 

He added, "The project employs dozens of workers, including technicians and administrators, daily, while the number will increase during the commercial operation phase."  link

************

CandyKisses:  External praise for Iraq's banks: very advanced in electronic banking services

Economy News - Baghdad

The Union of Arab Banks confirmed on Monday that Iraq is very developed in electronic banking services, while pointing out that the Iraqi banking sector is ancient and its role is vital in economic development.

The Secretary-General of the Union of Arab Banks, Wissam Fattouh: "There is a deprivation of dealing in the dollar and not sanctions, because sanctions mean inclusion on the sanctions list," pointing out that "the impact of deprivation is almost equivalent to sanctions because banks are difficult to work without the dollar currency, which represents the currency of international trade."

Fattouh added, "The Iraqi banking sector is a long-standing sector with a history, with total assets of $ 157.9 billion, and even deposits belonging to it more than $ 100 billion. Therefore, this sector is important and its role is vital in the economic development of the heart of the country."

He stressed "the need to apply international standards, especially with regard to standards and laws in force to combat money laundering and terrorist financing."

He pointed to "the involvement of the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this goal that is really required, and to train and qualify Iraqi cadres in particular."

He pointed out that "there is a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Mohammed Shia al-Sudani made an important historic visit to the United States of America."

"The biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks," he said.

"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance," he said.

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CandyKisses:  Taif Sami talks about the allocations of the governorates in the budget

Baghdad - Iraq Today:

Finance Minister Taif Sami stressed the ministry's keenness to support all governorates according to what is scheduled in the budget.

The Ministry of Finance explained in a press statement that "Finance Minister Taif Sami received Maysan Governor Habib Zahir Al-Fartousi, to discuss the financial reality of the province and its needs for vital projects."

She added, "The Minister of Finance discussed the most prominent financial challenges facing the province, and ways to address them, as well as a number of projects that the province intends to implement during the coming period."

Sami pointed out, according to the statement, "the ministry's keenness to support all Iraqi provinces as scheduled within the draft general budget, and to provide the necessary facilities for them to implement their projects and improve the level of services provided to citizens."

For his part, the Governor of Maysan expressed his appreciation to the Minister of Finance for its interest in improving the financial and economic reality of the governorate, and its continuous support for the implementation of its projects to achieve sustainable development in it.

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CandyKisses:  Political decision fails to pass new budget law

Baghdad - Iraq Today:

The parliamentary finance committee failed to vote on the budget tables in preparation for their presentation in the House of Representatives session scheduled for Monday.

Committee member Mustafa al-Karawi said in a press statement that "the Finance Committee met today, with its full members, in order to vote as a final decision on amending the budget tables, or passing them as they are, but at the last moments of the meeting came the political decision to postpone the vote until further notice to end the meeting without resolving the decision within the committee."

"During the meeting, MPs put forward a number of views on the importance of supporting sectors that suffer from lack of allocations, such as the service sectors, water resources and agriculture, as they are in direct contact with the citizen," al-Karawi said.

He pointed out that "political agreements are disrupting the budget schedules so far," noting that "the failure to resolve the budget schedules file by the Finance Committee, means that the fate of the session to vote on these tables in parliament "will be unknown."

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Mot: ........ Tah Dah! –

Mot: .. Welllll - Opal - I Do!!! – LOL