“Tidbits From TNT” Sunday 6-23-2024

TNT:

Tishwash:  Dozens of Iraqi companies participate in an investment summit in America

The US Ambassador to Baghdad, Alina Romanowski, announced on Sunday that more than 30 Iraqi companies will participate in a summit related to investment projects in the United States available to foreign companies.

Today, Romanowski wrote in a blog on the “X-Twitter” platform, “Best wishes to the 33 Iraqi companies heading to the SelectUSA Investment Summit in Washington, D.C., next week.”

She added, "The investment process is through linking Iraqi companies with American companies and resources to help them develop their businesses."  

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Tishwash:  The World Bank predicts Iraq's economic future in 2026

The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.

The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.

He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.

The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." link

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Tishwash:  Baghdad to Host Iraq’s Largest Tech Event

Baghdad will host the Digital Transformation Initiative (DTI) Youth Forum on July 22, Iraq's largest tech event, sponsored by the Iraqi Prime Minister’s Office. 

This landmark two-day event will bring together over 8,000 attendees, including youth, entrepreneurs, and companies, to explore technological trends and digital solutions.

The forum aims to raise awareness about technology among Iraqi youth and will feature 20 local and international experts. Notable speakers include Safa Salwan, VP of Investments at JPMorgan; Mustafa Nooraldin, CEO of Acksession; and cybersecurity expert Saif Alshoker. Topics will cover the Internet of Things, start-ups, cybersecurity, digitalizing the government sector, the digital economy, renewable energy, and more.

In addition to the conference, the event will include a Youth Initiatives Exhibition showcasing local projects, a Companies Exhibition promoting IT services and products by young innovators, and the launch of reports and data on Iraq's technology sector. 

The DTI Youth Forum seeks to unite the efforts of youth, the private sector, and digital companies to drive digital transformation in Iraq, connecting Iraqi youth with the latest advancements in technology and innovation.  link

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Tishwash:  Finance begins distributing estimates of current expenditures, revenues, and investment projects for 2024

Today, Saturday, the Ministry of Finance announced the start of distributing estimates of the state’s current expenditures, revenues, and investment projects for the year 2024.

A Finance statement received by Al-Rabaa stated, “The Budget Department calls on all ministries, governorates, and entities not affiliated with a ministry to send their authorized representatives tomorrow, Sunday, for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, according to what was stated in Parliamentary Resolution No. (64). ) for the year 2024 and was held at its session numbered (27) on June 3 of the current year.  link

a different version

 The Ministry of Finance announced today, Saturday, the start of distributing estimates of current expenditures, revenues and investment projects for the year 2024.

The Ministry stated, in a statement, a copy of which was received by Al-Mustaqila, that “the state has begun distributing estimates of current expenditures, revenues, and investment projects for the year 2024 to the state.

She added, “The Budget Department of the Ministry of Finance calls on all ministries, governorates, and entities not affiliated with a ministry, to send their representatives tomorrow, Sunday, June 23, 2024, to receive estimates of current expenditures, revenues, and investment projects for the current year, which were approved by the House of Representatives in accordance with Parliamentary Resolution No. (64) of 2024, adopted at its session numbered (27) on June 3 of the current year.”

This step comes as part of the government's efforts to improve financial planning and ensure a fair distribution of resources in a way that enhances the quality of public services and contributes to achieving sustainable development in all regions of Iraq .

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Mot: ... its soooo Hot Outside -- Right!!!! 

Mot: .. Already Exhausted I Am !!!!

News, Rumors and Opinions Sunday 6-23-2024

KTFA:

BuckEyeTree:  We have had a week of extreme heat in most of the USA. That brings to mind the situation in Iraq with its monetary reform.

In My Opinion, the Heat is on to reach the goal of monetary reform, the RI, and bring to pass the promise of purchasing power to the citizens, the HCL, etc. The heat / pressure is good in this case with ATMs and latest from their leaders Sudani, Alak and Barzani.

I remember seeing a video of Sudani walking among the citizens in the street. They appreciate him, and he wants the best for them and Iraq, quite the opposite of some leaders in the past. IMO

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Clare:  Parliamentary Economy explains...Does the fluctuation of oil prices affect the economy of Iraq?

6/22/2024  Baghdad

The Parliamentary Oil and Gas Committee confirmed today, Saturday, that the fluctuation in oil prices does not affect the Iraqi economy.

Committee member Ali Saadoun Al-Lami said, “The 2023 budget tables came to the House of Representatives when a barrel of oil was calculated at 74 dollars.”

Al-Lami added, “There are 10 moving dollars on the price of a barrel, so the rise or fall of oil prices does not affect the economy.”  LINK

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Clare:  To confront the electricity crisis...a parliamentary call to oblige state departments to adopt solar energy

6/22/2024  Baghdad

The Parliamentary Electricity and Energy Committee called, on Saturday, to oblige state departments to adopt a solar energy system to confront the electricity crisis in the country.

The committee said in a statement, seen by Al-Iqtisad News, that “in light of the climate that the country is experiencing, with temperatures rising above 50 degrees Celsius and increasing power outages, the citizen is suffering from a real crisis of energy shortages. The committee calls on the government to :

1- Reconsidering the mechanism for distributing electrical energy, rehabilitating generating units, and maintaining the dilapidated network, and the need to take urgent measures to address the above problems. 

2- The committee calls on the Ministry of Electricity to bear full responsibility for providing electrical energy to citizens and distributing electricity fairly. 

3- The committee calls on the Prime Minister and the Minister of Electricity to replace the general managers and branch managers who were proven to be negligent in performing their duties in overcoming the crisis. And those who have held positions for long periods. 

4- Requesting the Prime Minister to oblige all state departments and the private sector to install and establish a solar energy system at a rate of 25% of their departments’ consumption, provided that it is implemented during a period not exceeding three months.

5- Activating and adapting the Central Bank’s initiative regarding solar energy for citizens and accelerating its implementation in order to support the national grid. 

6- The Ministry of Oil must provide the fuel share for stations under construction and invest in the associated gas. 

7- Intensifying the efforts of the Ministry of Electricity and accelerating the transformation of the electricity system into a smart network and implementing all projects that will preserve the use of electrical energy in the optimal way. 

The committee confirmed, according to the statement, “that it will approve the evaluation form for general managers and branch managers and submit it to the Council of Ministers and the Ministry of Electricity to take the necessary measures according to the evaluation issued by the committee.”  LINK

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

Frank26  [Iraq boots-on-the-ground report] FIREFLY:  Television is showing a big meeting where Sudani is giving 4 million dinar grant to all displaced families that are currently in camps in Iraq... FRANK:  4 million dinar for the displaced families is an insult at 1320 but it is a blessing at 1.32.

Militia Man  Iraq says they're opening a copper recycling plant.  We talked about phosphates...sulfur...liquid natural gas and now we're talking about they're opening a recycling plant to do what?  To help their infrastructure.  Infrastructure is what's driving the...Development Road Project.  They're going to need thousands of tons of copper rods annually.  They're going to be able to produce that...They have so many raw materials... It's nothing but bullish for this country.

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Major Banking Giant To Sell $63 Billion In US Treasuries – Expect Bigger Failures & Losses

Sean Foo:  6-22-2024

In a sudden twist, Norinchukin Bank in Japan is in crisis with massive losses surfacing. This has prompted them to dump tens of billions of US & EU bonds.

The collapsing Japanese economy, weak Yen and Fed rate hikes are causing one of Japan's oldest banks horrible losses. This isn't good for the global economy.

Timestamps & Chapters:

0:00 Japanese Giant In Crisis

2:43 Massive Losses & A Panic Dump

5:55 Systemic Banks Taking Big Risks

 8:34 Crazy Derivative Bets Coming

11:21 Higher Rates Breaking The System

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

BRICS: Feds Acknowledge Sanctions Led To De-Dollarization

BRICS: Feds Acknowledge Sanctions Led To De-Dollarization

Geopolitical Analyst:  6-21-2024

BRICS kick-started the global de-dollarization program after the U.S. pressed sanctions on Russia in February 2022 for invading Ukraine.

 The alliance members Russia and China went on a world tour convincing developing countries to ditch the US dollar for trade. They have been successful in their quest as a handful of trade deals were settled in local currencies and not the US dollar.

In the latest update, the US Feds acknowledged that pressing sanctions against Russia in 2022 has led to de-dollarization intensifying.

US Fed Governor Christopher Waller acknowledged that the White House placing sanctions on developing countries led BRICS to kick-start the de-dollarization agenda.

“If these sanctions and policies are long-lasting, the shifting cross-border payments landscape, including the rapid growth of digital currencies, could also pose challenges to the dominant role of the US dollar,” said US Fed Governor Christopher Waller.

Waller explained that China and Russia are capitalizing on the geopolitical situation and pushing the BRICS’ de-dollarization initiative ahead.

Not just Russia and China, but even BRICS members India and the newly joined country UAE are aiding the de-dollarization agenda by settling trade in local currencies and not the US dollar.

https://www.youtube.com/watch?v=Bg2QPMXkjOo

More News, Rumors and Opinions Saturday PM 6-22-2024

TNT:

Tishwash:  An economist talks about the mechanism for overcoming the budget deficit

 Economist Osama Al-Tamimi described: “Today, the budget deficit is planning, not executive, but he stressed that the deficit is real when the government is able to implement all its programs and spend the budget completely.”

Al-Tamimi told the Iraq Observer Agency: “This has not been achieved in any year, and here the percentage of completion from the real budget remains the ruling in determining the deficit, and the lower the percentage of implementation, the lower the arithmetic percentage of the deficit.”

The economic expert explained: “Noting that the budget numbers on the analysis side are hypothetical, the deficit can also be avoided by making transfers in some sections and putting pressure on the operating budget as well as internal borrowing.”   link

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Tishwash:  Changes in the digital economy and their impact in Iraq

Researcher in finance and development affairs and academic Aqeel Jabr Ali Al-Muhammadawi 

The beginning of the twenty-first century can be marked by the development of advanced digital technologies, a revolution in the information field, and the acceleration of the processes of economic globalization. Currently, the development of information technology plays an important role in society and the economy. 

Individuals and society always seek to meet growing needs in a certain field of activity, while information technology expands the capabilities of all people, organizations and countries.

Information technology has not only changed the patterns of business and consumer behavior in the modern economy, but also laid the foundation for various processes: high-tech production and economic activity, development of financial services, changes in educational concepts and standards, digital transformation.

This infrastructure, formed on the basis of electronic interoperability, has become a new direction of global technology development in which economic activity depends on digital technologies.

The digital economy enhances competition and competitiveness not only within the country, but also at the global level. Therefore, any country, including Iraq, that seeks to compete and build competitive performance standards in the global market must properly exploit the potential of the digital economy and promote digital progress. 

Iraq must catch up, accelerate the adoption of digital technologies, and ensure that everyone can access these technical benefits and modern information technology.

At the same time, fulfilling the promise of digital mainstreaming requires balancing risks and opportunities. As the world transitions to digital technology, preventive measures are critical to enhancing trust. Laws must be put in place to protect data, achieve cybersecurity, and create strong institutions to develop and enable robust, interconnected digital systems that can verify identity, transfer payments quickly and securely, and exchange data responsibly.

For Iraq to reap the benefits of technological and technical progress in digitization and artificial intelligence, and participate fully in the global digital economy?

In order to accelerate the pace of engagement in the digital economy community with deliberate and reliable steps, Iraq should adopt the methodology of the digital economy and modern financial digitization. My agencies: 

1- Bridging the global digital divide: Despite the rapid spread of new technologies in various parts of the world, 37% of the population, each person, is still deprived of Internet services. In addition, a large percentage of Iraqis are not involved in advanced information technology applications. 

2- Preparing for the jobs of the future: Innovation radically changes the nature of work: new jobs are emerging, and other jobs are developing. In order to compete and contribute to raising the level of competitive performance standards of the digital economy, Iraq will have to prioritize education, vocational education and training, and build the digital, technical and technological skills of its workforce.

3- The importance of developing safe and reliable digital systems: With the world’s shift to modern digital technology and technologies, strengthening capabilities in areas such as cybersecurity, data protection, and maintaining the modern digital financial and economic system has become more important than ever before.

4- More funding to provide Internet services and IT applications for all: Providing broadband services for all will require more than $100 billion by 2030, and the public and private sectors cannot do this alone. Governments must undertake bold reforms, and the private sector can reduce costs and risks and increase efficiency, innovation and leadership.   link

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

Mnt Goat   Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII.  And now the spigot is wide open... the final issues preventing the reinstatement are being dealt with one by one...It is June already and this month is proving to be a very significant month again...my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait. 

Militia Man  Iraq says they're opening a copper recycling plant.  We talked about phosphates...sulfur...liquid natural gas and now we're talking about they're opening a recycling plant to do what?  To help their infrastructure.  Infrastructure is what's driving the...Development Road Project.  They're going to need thousands of tons of copper rods annually.  They're going to be able to produce that...They have so many raw materials... It's nothing but bullish for this country.

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Trifecta of Bubbles, All At Record Levels | Michael Pento

Liberty and Finance:  6-21-2024

There is a bubble trifecta: real estate, bonds, and stocks. And every one of these markets is at record levels by any measure. If these bubbles pop, this could be a “wipeout” for the markets, says portfolio manager Michael Pento    

While the government has been able to prop up the economy when individual bubbles have popped in the past, “there’s not an easy out this time,” he says.

He discusses lies and distortions from the government and how to protect against financial crisis.

INTERVIEW TIMELINE:

 0:00 Intro

1:20 Economy’s direction

4:50 Banking system

13:34 Debt levels

15:24 Government lies

19:40 AI & job destruction

22:30 Inflation

https://www.youtube.com/watch?v=iUODaFUf9zc

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-22-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-22-24

Good evening Dinar Recaps,

"Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Customer Information"

The SEC has moved the customer information protection amendments to the Federal Registry. These guidelines were last updated in the year 2000.

These amendments have been updated to coincide with the new digital asset-based trading system, and they will go into effect August the 2nd, 2024.

Any customer working with a broker-dealer relationship in financial assets ranging from foreign currency to local economic assets will now be covered under these new amendments.

Any customer working with a broker-dealer relationship in financial assets ranging from foreign currency to local economic assets will now be covered under these new amendments.   Federal Register  Finra

© Goldilocks 
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Amendments to S-P Regulation | Youtube

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Coin Week

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TEHRAN, Jun. 21 (MNA) – Venezuela is at the doorstep of joining the BRICS group of nations and ready to offer its fuel and mineral resources to future partners, the country's Executive Vice President Delcy Rodriguez said. | MNHR News

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Digital technology is undoubtedly the spear tip of innovation driving financial services forward.

And that spear tip is coming to include blockchain, or distributed ledger, technology. That’s because proponents of blockchain and on-chain solutions believe the tokenization of financial assets could one day reshape the operating models and transform the business functions around areas like wealth management. | Pymnts

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Bloomberg reported today that Standard Chartered Plc is launching a spot crypto trading desk for Bitcoin and Ether in London, citing sources. The unit will be part of the FX trading desk.

An emailed statement from the bank said it had been working with regulators to support institutional demand to trade Bitcoin and Ethereum.

Banks such as Goldman Sachs run derivatives trading desks, but spot desks are relatively rare in banks.
Ledger Insights    Bloomberg  

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During today’s Citi Digital Money Symposium, the bank unveiled its new Citi Integrated Digital Assets Platform (CIDAP) to serve the entire group. Citi (https://www.citigroup.com/) is involved in various digital money and tokenization projects.

Altin Hoxha, the lead for the platform, said it aims to “enable fast adoption of innovation and innovation which is in compliance with all these regulatory regimes around the world.”

Last year Citi launched its tokenized deposit solution, Citi Token Services (https://www.ledgerinsights.com/citi-tokenized-deposits-institutional-digital-assets/), with a cash solution for corporate treasury management and a trade solution. The cash side is live in the US and Singapore, enabling corporates to move money 24/7.   Ledger Insights 

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Banks are in the process of interfacing cryptocurrency platforms as portfolio options going forward.

© Goldilocks

10 Best Crypto Friendly Banks in 2024 | Koinly

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Digital Future Launches to Advance the Digital Economy | PR Newswire

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Digital asset platforms have become much more efficient, Goldman Sachs CIO says | Youtube

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Do you see how Leveling the Playing Field works?   👇

China sanctions Lockheed Martin over Taiwan arms sales | TBS News

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Tweaks to the Old Traditional trading platforms are currently being installed to accommodate the new digital asset-based trading system. More on this tomorrow.

© Goldilocks

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Vietnam PM to attend WEF meeting.

"Chinh will attend the meeting in Dalian city, Liaoning province of China, and have working sessions from June 24-27.

The trip will be made at the invitation of Chinese Premier Li Qiang and WEF Founder and Executive Chairman Klaus Schwab."

The World Economic Forum normally meets in January at Davos, Switzerland. Invitation only meetings are called on for special purposes with recognized countries able to influence the Global Economy are invited.

The economy of Vietnam is showing a reclassification of their Global Economy, and now, have the ability to participate in the new Global shifts coming our way.

Interestingly, Vietnam has been invited to the table as they approach their new identity as a Market Economy.    VN Express   WEF

© Goldilocks

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“Tidbits From TNT” Saturday 6-22-2024

TNT:

CandyKisses:  Finance: Direct distribution of current expenses, revenues and investment projects for 2024

Economy News - Baghdad

The Ministry of Finance announced today, Saturday, the distribution of estimates of current expenses, revenues and investment projects for 2024.

The ministry stated, in a statement received by "Economy News", that "the estimates of current expenses, revenues and investment projects for the year 2024 were directly distributed in the public year of the state."

She added that "the Budget Department in the Ministry of Finance calls on all ministries, governorates and entities not associated with a ministry to send their authorized on tomorrow, Sunday, June 23, 2024, for the purpose of receiving estimates of current expenses, revenues and investment projects for the current year, and approved by the House of Representatives according to parliamentary decision No. (64) of 2024 and the headquarters in its session numbered (27) on June 3 of this year."

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Tishwash:  Saleh: The tripartite budget gave the government flexibility to implement its medium-term plans

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the Federal General Budget Law No. 13 of 2023 (the tripartite budget) granted the executive authority high flexibility in implementing the state’s medium-term financial plan for the years 2023, 2024, and 2025.

Saleh told {Al-Furat News} agency, “In implementation of the provisions of Article 2/77 of the law above, which stipulates that the government shall submit financial schedules related to expenditures, public revenues, and the planned deficit for the fiscal years 2024 and 2025, in order to provide a flexible space that allows for the implementation of the general budget in an efficient and reliable manner.” In accordance with the constants stipulated in Law No. 13 mentioned above.”

He pointed out that "the matter relates to the schedules for the fiscal year 2025 and the possibilities of approving expenditures that may arise in the next fiscal year, or the exhaustion of other expenditures whose deadlines have expired in terms of timing, or the expiration of expenditure commitments and the replacement of new commitments for expenditures during the next fiscal year

And in appreciation of the circumstances surrounding the economy." Overall, the Federal Ministry of Finance, as a supreme financial authority, in cooperation with the Ministry of Planning (which is the ministry concerned with development projects and overall investment spending), will undoubtedly undertake to provide the necessary adjustments in the financial tables that will be presented for the year 2025 so that they can be studied, starting with the Ministerial Council for the Economy and in accordance with the contexts stipulated by it.

Federal Financial Management Law No. 6 of 2019, as amended, then the financial tables in question receive the approval of the Council of Ministers, so that they can be approved in the House of Representatives.”

At the same time, Saleh noted that “there is high and continuous coordination between the parliamentary finance committee concerned with following up and monitoring financial developments in the country and in accordance with the constitution, and between the plans, programs and mechanisms adopted by the financial authority in implementation, which are mutual constitutional guarantees to achieve the country’s supreme interests in development and economic stability.” "To the fullest extent."  link

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Tishwash: Finance begins distributing estimates of current expenditures, revenues, and investment projects for 2024

Today, Saturday, the Ministry of Finance announced the start of distributing estimates of the state’s current expenditures, revenues, and investment projects for the year 2024.

A Finance statement received by Al-Rabaa stated, “The Budget Department calls on all ministries, governorates, and entities not affiliated with a ministry to send their authorized representatives tomorrow, Sunday, for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, according to what was stated in Parliamentary Resolution No. (64). ) for the year 2024 and was held at its session numbered (27) on June 3 of the current year.

a different version

 The Ministry of Finance announced today, Saturday, the start of distributing estimates of current expenditures, revenues and investment projects for the year 2024.

The Ministry stated, in a statement, a copy of which was received by Al-Mustaqila, that “the state has begun distributing estimates of current expenditures, revenues, and investment projects for the year 2024 to the state.

She added, “The Budget Department of the Ministry of Finance calls on all ministries, governorates, and entities not affiliated with a ministry, to send their representatives tomorrow, Sunday, June 23, 2024, to receive estimates of current expenditures, revenues, and investment projects for the current year, which were approved by the House of Representatives in accordance with Parliamentary Resolution No. (64) of 2024, adopted at its session numbered (27) on June 3 of the current year.”

This step comes as part of the government's efforts to improve financial planning and ensure a fair distribution of resources in a way that enhances the quality of public services and contributes to achieving sustainable development in all regions of Iraq .  link

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Mot:  .. Amazing she Can find her Way at alllll ~~~~

Mot:  ....... hot soooooooooo - Just how hot is it anyways

News, Rumors and Opinions Saturday AM 6-22-2024

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 Sat. 22 June 2024

Compiled Sat. 22 June 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Rumors/Opinions)

Fri. 21 June 2024 Wolverine member: “Hi Wolverine, my friend who is a HSBC bank manager here in Australia for the RV just told me that he was on call from now all weekend.”  

Wolverine: “They were expecting for the funds to be released yesterday but it was cancelled. It looks like we are going to have our celebration on the weekend. It’s going to be a shotgun start.”

Fri. 21 June 2024 MarkZ: “Lots of anticipation for this weekend. Two different bank contacts from two different states said they are on one hour call for this weekend.”

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Fri. 21 June 2024 TNT Tony Call:

“Everything is ready to go. All the Banks had more meetings this week and were told the same briefing. Banks were told there was a 99% chance that it would go public tonight, or this weekend. Everyone is excited about this weekend. Our first opportunity is later today, or we will see it this weekend. They are working extended hours this weekend.”

Tony’s bankers went in at 5:00am today in anticipation for something to happen this afternoon, which still could happen at any moment. As of right now, our first opportunity is after 4:00pm today or anytime over the weekend.

Bank contacts in FL, NY, Chicago and Indiana advised that they had all received massive amounts of money, in preparation for this to occur.

Banks advised that there will be security in the parking lots, as well as inside of the banks. “Some people” told Tony that it started 2 days ago, and that it “just hasn’t gotten to us yet.”

Regional banks advised that it has started for them, and that as of yesterday, people who had SKR funds pending were supposed to “be showing live” in their accounts.

The “technical issues” from last Friday were apparently still missing a component, which has now been resolved. The electronic and physical issues were previously satisfied, however, satellite transmission capabilities for fund transfers are now complete.

Bank staff have been informed that they will be working extended hours this weekend.

There is no “fussing or fighting” in Iraq, there has been no mention of the budget, the only issue being reported on, is their focus on recovering the stolen money.

Tony advised that a contract rate of $28.50 for the Dinar should be available to those who ask for it.

Tony was asked how certain he was, that this was finally our weekend and his response was “99%.”

Tony received a text during the call which made him laugh, and he stated that “the word is, that the sooner we get off the phone, the sooner things get started.”

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Global Financial Crisis:

Fri. 21 June 2024: President Putin says over 60% of trade between Russia and Vietnam is now conducted without the US Dollar and Euro.

Read full post here:  https://dinarchronicles.com/2024/06/22/restored-republic-via-a-gcr-update-as-of-june-22-2024/

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY: International finance team is on the television channel one...They're saying the economic reform is Iraq is at an increasing rate and we have invested over $2 billion in this Iraq.  FRANK: This is the international finance community.  They all know what's going on.  When they say your economic reform has increased...what they're talking to you about without saying it because they cannot, is the float.

Bruce   [via WiserNow]  We know that there's a lot going on behind the scenes.  One of our bankers - Wells Fargo said, Just hang in there...just hang in there a couple more days...So I'm excited...we will be able to look back at years of waiting and say, it was worth it. 

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End of Petrodollar? Start of a New Monetary Order? Can This Be Stopped? – Andy Schectman

Kitco News:  6-21-2024

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Andy Schectman, President and Owner of Miles Franklin Precious Metals, who discusses the idea that the era of paper money might be over.

Schectman weighs in on whether this is the start of a new monetary order, whether it can be stopped, and who is behind the plan to “reset” everything.

He also gives his outlook on gold and Bitcoin.

https://www.youtube.com/watch?v=89rrMXU5b8U

Economist’s “News and Views” Friday 6-21-2024

Western Empire Facing Same Collapse as Rome in its Final Days: Martin Armstrong

Commodity Culture:  6-21-2024

Martin Armstrong sees striking similarities between the multitude of crises that plague the modern world and the conditions just before the fall of the Roman empire.

Martin argues that endless debt issuance, wars for profit, unchecked migration, and rampant political corruption are setting the stage for a future where many Western countries cease to exist as we know them.

00:00 Introduction

 01:28 Everything is Connected

10:54 Political Shift to the Right

20:52 New BRICS Payment System

24:29 172 Year Revolutionary Cycle

 34:01 The Migrant Crisis and Rome

40:12 Socrates

47:18 How Can We Use This to Invest?

https://www.youtube.com/watch?v=h5JR3H7mpTg

THE WORLDWIDE ECONOMIC FREEFALL ACCELERATES... AND THIS IS WHAT'S COMING NEXT.

Greg Mannarino:  6-21-2024

https://www.youtube.com/watch?v=bJD0P0c5rpw

Rafi Farber: When the Yen Falls, So Does the Whole Keynesian System

Arcadia Economics:  6-21-2024

Back in May we heard that the Bank of Japan spent $62B defending the yen.

It didn't work too well, with the yen right back at 34 years lows and threatening to break them any minute now, perhaps by the time you're watching this.

Speaking of $62B, this week we heard that a Japanese bank called Norinchukin is selling about the same amount in underwater bonds, thanks to higher for longer interest rates, which aren't having much of an effect blunting price inflation anyway.

 It just so happens that Japan is the single largest holder of US Treasurys in the world, at a gargantuan sum of $1.15 trillion.

 No wonder Japan's is the first foreign banking system to be directly affected by high dollar interest rates.

The Keynesian experiment is unraveling fast now, while silver holds over $30.

Rafi Farber still believes we are in for one last global banking crisis, after which silver will, during a brief period of monetary panic, become money directly once again.

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=-lvtizmX17Y

More News, Rumors and Opinions Friday PM 6-21-2024

KTFA:

Clare:  Al-Moussawi: Election of a new speaker of parliament will accelerate the legislation of the oil and gas law

6/20/2024

Member of the Parliamentary Oil Committee, Zainab Al-Moussawi, announced the election of a new Speaker of Parliament who will expedite the legislation of the oil and gas law.

Al-Moussawi told {Al-Furat News} that: “Until now, there are no indications from the Sunni blocs to agree on a candidate for the presidency of the Iraqi parliament, due to the {Sunni-Sunni} differences and the splits that occurred within the Taqadum Party headed by Muhammad al-Halbousi.”

She pointed out that "in the event of a Sunni agreement, the vote will take place immediately after the end of the legislative term holiday, as the Shiite and Sunni political blocs are ready to vote."

Al-Moussawi confirmed, “The vote of members of Parliament on choosing a new candidate for the presidency of the Council will accelerate the approval of the suspended laws, including the oil and gas law, as the law within the committee is largely mature.”

Ragheed   LINK

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Clare:  IBBC Spring Conference 2024
The Mansion House, London

2 July 2024

IBBC’s (Iraq Britain Business Conference) 15th Anniversary Conference: Iraq’s ‘Opportunities and Insights’

This is a big year for Iraq and IBBC as we celebrate our 15th anniversary and Iraq moves into a new prosperous and stable phase. As advocates for the private sector in Iraq, IBBC champions best practice, through our special reports and white papers for reform, and encourages the government of Iraq to modernise its systems and ministries to accommodate International best practice within Iraq.

‘Insights and Opportunities’ reflects the evolution of the Iraq economy and the mechanics and reforms that the country is undertaking, as the largest forum for discussion of Iraq’s challenges and opportunities.

About the Conference:

Opening the conference the President of the Confederation of British Industry (CBI) Mr Rupert Soames OBE will give a keynote speech from the British industrial perspective, and as a previous member of IBBC is well placed to comment of UK’s business relationship and opportunities with Iraq.

Of note is the presence of key delegates: H.E. Hayan Abdul Ghani Al-Sawad, Deputy Prime Minister & Minister of Oil, Ministry of Oil, H.E. Dr Mohammed Shukri, Chairman of the Kurdistan Investment Board, Dr Fareed Yasseen, Iraqi Climate Envoy, Eng Adil Karim, Deputy Minister of Electricity, KRG ministers and keynote address from Alderman Barr, The Rt Hon the Lord Mayor’ Representative, The Rt Hon Lord Howell of Guildford andBaroness Nicholson of Winterbourne, IBBC President.

Delegates will hear the latest report from Professor Frank Gunter on Foreign exchange and banking reforms the impact of dollar controls and how this might resolve, and to hear directly from Government minsters, including the Deputy Governor of Iraq’s Central Bank, Dr Ammar H. Khalaf, on the procurement opportunities across key sectors, such as agriculture, education, finance, transport, and regional development at special roundtables including for KRG and finance. H.E. Mr Asaad Al Eidani, Governor of Basrah, will be joining a panel and special Basra roundtable, as will Kurdish ministers at a KRG roundtable, chaired by Mr Jonathan Wilks, Oxford Centre for Islamic Studies

The Iraqi economy is quietly diversifying, with the evolution of services, travel, tech, and retail sectors, but the dominant energy sector is also evolving, with new players technologies and climate reduction activities. Oil and Gas are still at the centre of this conference and Iraq’s economy, with the Energy Panel, which see the big players in energy policy and practice including Eng Adil Karim, Deputy Minister of Electricity; Dr Luay Al Khateeb, Centre on Global Energy Policy – Columbia University, Ms Dunia Chalabi, TotalEnergies, Mr Zaid Elyaseri from BP, Mr Andrew Wiper from Basra Gas Company, Mr Hassan Heshmat from Hydro-C and Mr Ellis Renforth from Wood Plc

Yet transport is also set to boom, in both the ports and the dry canal project due to link Basra to Turkey with the Mediterranean, silk road and European markets. The project will have profound impact on cities along the route and for both import and export trade. IBBC member Mr Tugrul Titanoglu, CJ-ICM; and Mr Steve Alexandar, Sardar Group, will inform us of these changes and the evolution of electronic and port management systems already in place (see our ’23 report on ports here).

While these insights ensure everyone is better informed, there is always a significant networking and coming together of businesses and old friends and acquaintances. A reception the night before will celebrate not only IBBC’s 15 years, but also offer informal networking among delegates, speakers and founder members in the Mansion House and the chance to forge new friendships.

Iraq now enjoys a stable and focused government intent of reconnecting with the region, fiscal surpluses that are converting into new infrastructure projects, and a growing more prosperous population, keen for modernisation and the benefits of a consumer economy.

We are certain there will be big demand for tickets, so please register soon to avoid missing out. Join with us and share the insights and opportunities that a modern and stable Iraq now offers.  LINK

Billuke:  Iraq can't go here on a program rate........imo

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

Frank26  $3.22 is the actual reinstatement...They're not going to reinstate it...but it would be enough to launch it into the float, let the float take care of it.  The float will take it up to...$3.86...$4.25...$4.72.  Inflation is the reason why they have been doing this RV that's leading into an RI but the RI is not feasible therefore due to inflation a float is necessary to take it to the real effective exchange rate, which may be around the numbers I suggested...

Frank26  $3.22 is the actual reinstatement...They're not going to reinstate it...but it would be enough to launch it into the float, let the float take care of it.  The float will take it up to...$3.86...$4.25...$4.72.  Inflation is the reason why they have been doing this RV that's leading into an RI but the RI is not feasible therefore due to inflation a float is necessary to take it to the real effective exchange rate, which may be around the numbers I suggested...

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PROOF That The 2024 Economic COLLAPSE Is Coming

Atlantis Report:  6-21-2024

It’s clear now: the economic collapse of 2024 is not just a possibility; it's an imminent reality. The downturn in the financial sector has already begun, with regional banks experiencing significant failures, which is a sign of more widespread economic distress.

The regional banking sector has been hit hard in recent times. Last year saw the collapse of notable banks such as Silicon Valley Bank, Signature Bank, and First Republic Bank.

These collapses were not isolated incidents but rather a chain reaction, indicating systemic vulnerabilities.

The domino effect continued with the fall of Silvergate Bank and Heartland Tri-State Bank. Their combined $440 billion in assets made this the largest collapse since the inception of the FDIC, Federal Deposit Insurance Corporation.

 Due to a series of bank failures, the FDIC faced significant challenges. To cover the losses, it had to use a large part of its insurance funds.

This raises a crucial question: How much money does the FDIC have left to handle future collapses? The answer is worrying: not much.

When you look into the FDIC's current financial status, it's clear that it's fragile, raising concerns about how it will handle further banking crises.

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

Goldilocks' Comments and Global Economic News Friday Afternoon 6-21-24

Goldilocks' Comments and Global Economic News Friday Afternoon 6-21-24

Good Afternoon Dinar Recaps,

"Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow.

* Stablecoin issuers are the world's 18th biggest holders of U.S. debt.

* Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law.

Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow."

👆 Look for a stablecoin regulation to move into high gear now due to the above article information.

What are stablecoins backed by? You got it. Commodities.    CoinDesk

© Goldilocks

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Folks, Are you paying attention?
Owing to new European Union rules on stablecoins, we will no longer support the following assets from July 1st 2024:

DAI
FRAX
GUSD
USDP
TUSD
USDT
We'll continue supporting USDC, EURC and PYUSD

Wow !!!!

Why are these crypto stable coins being removed from uphold ?

Well it’s because they simply aren’t stable !

Remember MICA ?

MiCA establishes a framework for crypto-assets in the EU, covering their issuance, trading, offering, and custody. It also includes rules for stablecoins, licensing requirements for CASPs, and consumer protection measures. Some of the rules that will apply on June 30, 2024 include:

• Stablecoins  Only credit institutions (banks) and electronic money institutions (EMIs) will be able to issue stablecoins, promote their purchase, and request that trading platforms list.

• Crypto custodians  Crypto custodians are liable to their clients for the loss of crypto-assets or access to them if the incident is their fault

Big Dog 

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"In a market economy, a country's currency value is determined by supply and demand, just like other goods and services. When demand for a currency increases, it appreciates, or becomes stronger and more valuable. When demand decreases, it depreciates, or becomes weaker and less valuable." | Investopedia

"Yes, economic activity, including market interest rates, gross domestic product, and unemployment rate, can affect exchange rates. These rates are often called market exchange rates and are set in the global financial marketplace by banks and other financial institutions. Exchange rates can change hourly or daily, and can be small or large shifts." | Investopedia

I thought I would give you an idea of what's happening with Vietnam when they go to a Market Economy. Just so you know, supply and demand will determine their new exchange rates when they change their monetary policy to move into a Market Economy.

Both the United States and Russia have recently signed a Comprehensive Strategic Partnership with Vietnam. These two countries recognize Vietnam's capacity to step up to the plate, and into, a higher level playing field with their economies along with all the rights and privileges that go with it.

In a previous article, we were told that Vietnam would make this transition by the end of July 2024. The Investor   English News

© Goldilocks

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Hong Kong Announcement:

"Hong Kong Treasury chief: We’re leading in Web3 with digital currency ETFs, enabling regulations"

This article is an advertisement of what Hong Kong offers going forward on their international market exchange locally and cross borders.

They offer the full arrangement of a regulated cryptosystem capable of using stablecoins worldwide.

Hong Kong has the ability to trade in multi-currency accounts through cryptos fully regulated in their financial system.   CoinGeek

© Goldilocks

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A New Era in Iraq's Relations with the West?

"Amid growing pressure to dissolve the coalition and withdraw troops, the United States and its partners should continue pursuing good relations with Baghdad -- but this time with a lighter footprint and increased regional cooperation."

Currently, Iraq has a "mixed economic system" with aspects of it that is private and many parts of it regulated and governed by the government.

They are currently in transition and expected to meet goals to reclaim their independence as the year goes forward.

Expectations from previous articles state that they are to become their own market economy by the end of the year.

Their move towards independence as a nation and less guidance from government bodies outside of their own is currently in process.  Iraq Business News   Washington Institute

© Goldilocks 

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Supreme Court decision upholds Trump-era tax on offshore earnings - The Washington Post

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Revolutionizing Voting Systems Through Blockchain Innovations |  Smart Phone Magazine

~~~~~~~~~

Cash flow is the lifeblood of any business. That’s why many of the most exciting innovations within payments are aimed at helping businesses build better balance sheets and support healthy growth.

And with the advent of instant payments, the first new domestic payments rail in half a century, there is a new — and better — way to pay in the U.S.A. | Pymnts

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The Rising Economy Of Vietnam | Asia's Next Emerging Powerhouse? | Youtube

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Coin Gape

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Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance – Altcoins Bitcoin 

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Cryptocurrency 2024: SEC Enforcement, State Regulation, and the Need for Clarity | Youtube

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BREAKING NEWS:  Changes in the Developing Road Project #iraq  | Youtube

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America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee | Youtube

~~~~~~~~~

Crypto 101: What is a Node? | Youtube

~~~~~~~~~

Is It Too Late To Get Into Crypto? | Youtube

~~~~~~~~~

Goldilocks' Daily Breakdown Podcast Link

Goldilocks' Telegram Room

Goldilocks' Q & A Classroom Link  

Follow Goldilocks' Roadmap

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Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Friday 6-21-2024

TNT:

CandyKisses:  Movement to activate the road agreement and the Chinese belt

Baghdad - Iraq Today:

The head of the parliamentary rights bloc, Saud Al-Saadi, renewed his call on the government to speed up the implementation of the Chinese Belt and Road Agreement, while revealing the collection of 60 deputy signatures to activate the Chinese agreement.

Al-Saadi said in a press interview that "the Belt and Road Initiative occurred in the time of successive governments and was a prelude to linking Iraq to the Chinese Belt and Road Initiative."

He added that "the Belt and Road Initiative to ensure Iraq's strategic and economic projects, pointing out that the agreement was procrastinated in the time of the Al-Kazemi government," pointing out that the current government is obligated to activate the agreement with China and link Iraq to the Belt and Road Initiative.

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CandyKisses: During the Eid holiday. 3 northern governorates receive more than 320,000 tourists

Economy News - Baghdad

During the Eid al-Adha holiday, resorts and tourist areas in the governorates of Erbil, Sulaymaniyah and Halabja received more than 320,000 tourists, while statistics on the number of tourists who went to Dohuk were not yet available.

According to information and statistics from the Directorate of Tourism in Sulaymaniyah province, "more than 120,000 tourists visited the province and its tourist areas, most of whom are citizens of central and southern Iraq."

Compared to the same time last year, the percentage of tourists to Sulaymaniyah increased by about 20,000 tourists.

For its part, the responsible authorities in Erbil province announced that "117,421 tourists went to the province during the Eid holiday," noting that "54 felonies and 51 misdemeanors were recorded."

As for the province of Halabja, the Directorate of Tourism announced that "84 thousand and 176 tourists went to the province, for the purpose of tourism and vacation, and 40 violations and warnings were recorded by the inspection and control committees," noting that "there were no unfortunate incidents during that period, and the Eid plan was successfully applied, in terms of receiving tourists and creating the appropriate atmosphere for them."

The concerned authorities in Dohuk province did not announce statistics after tourists flocking to the governorate and its tourist areas during the Eid al-Adha holiday.

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CandyKisses: Parliament calls on government to send important laws that affect people's lives

Baghdad - Iraq Today:

The MP for the State of Law Coalition within Radi called on the government to expedite the sending of the law on the salary scale of employees because of its importance in achieving social justice.

Radi said in a press interview that "there are important laws that the government still has waiting to be sent to the House of Representatives in order to legislate them during the current parliamentary session."

"The House of Representatives called on the government to send bills that serve the government and citizens, including the Federal Court Law, the Oil and Gas Law, the Slums Law and other laws," he said.

Radi expressed his "hope that the government will send important laws as soon as possible in accordance with the government program presented by Prime Minister Mohamed Shia Al-Sudani," stressing that amending the salary scale law has become necessary.

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Tishwash:  Sudanese Advisor: We have prepared a comprehensive plan to combat corruption and recover funds

Today, Friday, Advisor to the Prime Minister for Oversight and Integrity, Muayyad Al-Saadi, confirmed today, Friday, the existence of a comprehensive plan to combat corruption and recover smuggled funds, while stating that Prime Minister Muhammad Shiaa Al-Sudani provided unlimited support to recover the funds and wanted persons.

Al-Saadi said, “Prime Minister Muhammad Shiaa Al-Sudani paid great attention and daily follow-up to anti-corruption measures, and worked in different directions,” noting that “teams were formed to receive news and reports about corruption, follow up on them, uncover them, and refer them to the Integrity and Public Prosecution Commission for the purpose of holding violators accountable, prosecuting them, and recovering the money.” 

He continued, "Among the trends that have been focused on is the periodic evaluation through semi-annual and annual reports through the regulatory agencies that follow up on the procedures of ministries and governorates in the field of combating corruption on a daily basis, as well as the issue of digital transformation and the procedures of the unified storage system for the purpose of controlling, following up and knowing funds." Balances and their movement,” noting that “all of these measures serve to combat corruption.”

He added, "The Prime Minister provided unlimited support to the Integrity Commission, the Financial Supervision Bureau, and law enforcement agencies, in order to recover funds and fugitive fugitives by providing all facilities," noting, "The procedures resulted in bringing in the fugitive defendants and depositing them with law enforcement agencies for the purpose of issuing special rulings." “With them.”

Al-Saadi pointed out, “There is a fund to recover the former regime’s funds, which operates according to its own law,” stressing that “a lot of money has been recovered, most recently from Swiss banks, where it was deposited in the Central Bank.”  link

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MotL Taaaaaaaaaaaaaaaaahhhhh -- Daaaaaaaaaaaaaaaaaaahhhh !!!!!

CandyKissses:  GOTTA GET MY LIFE TOGETHER

News, Rumors and Opinions Friday AM 6-21-2024

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 Fri. 21 June 2024

Compiled Fri. 21 June 2024 12:01 am EST by Judy Byington

Global Financial Crisis:

Thurs. 20 June 2024: The international monetary system collapsed in 1914, 1939 and 1971. 2008 tested the system but central banks delayed the inevitable with QE. Now they are eating losses. A collapse often signifies the rebirth of a new system. So many signals represent we are getting closer:

– More trade in local currencies
– Gold being stockpiled
– CBDCs
– Hot conflicts around the world
– BRICs getting bigger
– The Western financial system being weaponized

It would be easy to continue to go on. This is what happens when the foundation shakes. https://t.me/USDebtClockAmerica

Thurs. 20 June 2024: EXPOSED: NESARA GESARA Initiatives Reveal the Fall of Corrupted Banks, Stock Market Collapse, and Deep State Corporations in the Vatican – American Media Group (amg-news.com)

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Global Currency Reset: (Rumors/Opinions)

Thurs. 20 June 2024 Bruce:

The currencies going up in value finally solidified in the last couple of days – but we don’t know what they are. They were trading upwards and they are now trading exponentially but they are moving UP UP UP to where those rates are supposed to be for us and I do believe that is what they are doing.

Today the Redemption Center Staff went in for a couple of hours but the numbers never came today. Tomorrow Fri. 21 June (Summer Solstice) they are going in for overlapping hours – and that would allow for our numbers if indeed they do come out tomorrow.

Yesterday a banker said – “Just hang in there a couple of more days” and so that would have been a couple of days and that would be Friday – so I think we could get this tomorrow and through the weekend.  

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Thurs. 20 June 2024 Wolverine: “Ok the new rates should be posted today (Thurs. 20th June) in Iraq and expecting funds to be released either today Thurs. or Fri. 21 June in the USA. Let’s hope it happens as we cannot keep going like this as too many people are hurting. …Conference Call: “It’s looking good.”

Wed. 19 June 2024 Intel Guru Frank26:  [The new ATMs] are everywhere in Iraq now. It’s not hundreds, it’s not thousands, it’s tens of thousands of them. They are everywhere that an Iraqi citizen can walk to. They are at their hookahs… mosques, bars shops… street.. banks… corners, they’re everywhere… There’s going to be a massive rush going into the banks.

Read full post here:  https://dinarchronicles.com/2024/06/21/restored-republic-via-a-gcr-update-as-of-june-21-2024/

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

Mailman17  Some gurus state that Iraq has to have more than oil to export to be on par with Kuwait. Every export Kuwait has is from oil..oil, gas, alcohol etc..all made from oil. Iraq has all that and then some. Oil, gas, sulphur, dates, gold and a few more. Do not compare Kuwaiti exports with Iraq..Iraq wins hands down and has more of it..food for thought.

Mnt Goat   Do they have to RV to make the budget work?  If you take what the prime minister told us about the dropping of the zeros...in an April 2023 article, we can see that taking the 1320 rate and dropping the 3 zeros makes it $1.32. If we take the 6.5 billions dinars allocated for the new pipeline construction it is actually about $4.9 billion dollars.  If we divide 6.5 / 4.9 we get 1.32...is this a coincidence? Can you see now why I am so excited...WOW! WOW1 WOW! ...Many believe it is not coincidental and so I agree...Do they need the change in rate to build the pipeline? What about the other projects too like the 7 new refineries?  ...if it does they will have to get their act in gear real soon, as they also told us they plan to begin this new pipeline now NOT in 2025.

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BREAKING NEWS: Changes in the Developing Road Project

Edu Matrix:  6-21-2024

BREAKING NEWS: Changes in the Developing Road Project …Exchange Rate 6/19 $1.00 = 1310.52

https://www.youtube.com/watch?v=GsT3X9_2coI

BANK AUDITOR WARNS: $525 BILLION in Bank Losses Threaten Banks Already On Edge of a Massive Crisis

Lena Petrova:  6-20-2024

https://www.youtube.com/watch?v=uScGwA-rvwc

110 million people from Asia Joining BRICS: What next?

110 million people from Asia Joining BRICS: What next?

Fastepo:  6-20-2024

Malaysia and Thailand have both shown interest in joining BRICS, a coalition currently comprising Brazil, Russia, India, China, and South Africa.

 The group is expanding, with five new countries—Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE—joining the bloc since January 2024.

This expansion aims to enhance the bloc's economic and geopolitical influence, offering new opportunities for member nations to engage in trade and cooperation outside of Western-dominated frameworks.

As of June 2024, both Malaysia and Thailand exhibit significant economic advantages that enhance their positions in the global economy.

The Malaysian economy is projected to grow by 4-5% in 2024, driven by resilient domestic expenditure and a diversified economic base

. Malaysia has successfully transitioned from a commodity-based economy to one with robust manufacturing and service sectors.

The Thai government has implemented measures to boost liquidity and economic growth, including a proposed $102 billion budget to revive the economy.

These measures aim to stimulate domestic demand and support economic recovery.

Malaysia is on track to achieve high-income status between 2024 and 2028, reflecting sustained economic transformation and development. This progress is supported by a low unemployment rate and significant strides in poverty reduction.

Additionally, Malaysia’s strategic geographic location and strong geopolitical relationships enhance its trade capabilities, particularly in electronics, automotive, and palm oil production. Thailand’s robust trade relationships with major economies like China and India position it as a key player in regional and global markets.

Exports to these countries include a wide range of products such as automotive parts and chemicals, showcasing Thailand's diversified export base.

In this video, we will examine how the inclusion of Malaysia and Thailand will create mutual benefits for both these countries and the existing BRICS nations.

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