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News, Rumors and Opinions Monday PM 6-24-2024
KTFA:
Clare: A political movement to hold an extraordinary session to elect the new Speaker of Parliament - urgent
6/24/2024 Baghdad
Today, Monday (June 24, 2024), the representative of the Azm Alliance, Nihal Al-Shammari, revealed the existence of a political movement aimed at holding an extraordinary session to elect the new Speaker of the House of Representatives.
Al-Shammari said in an interview with “Baghdad Today”, “There is a political movement and communication between all Sunni political parties, with the aim of accelerating the election of the new Speaker of the House of Representatives, especially since it supports the initiative to unify the position of the Sunni political house.”
She added, “There are efforts to hold an extraordinary session to elect the new Speaker of the House of Representatives during the next few days, and perhaps by the end of this week, and this matter now depends on what the current political dialogues and negotiations between all political parties will produce.”
KTFA:
Clare: A political movement to hold an extraordinary session to elect the new Speaker of Parliament - urgent
6/24/2024 Baghdad
Today, Monday (June 24, 2024), the representative of the Azm Alliance, Nihal Al-Shammari, revealed the existence of a political movement aimed at holding an extraordinary session to elect the new Speaker of the House of Representatives.
Al-Shammari said in an interview with “Baghdad Today”, “There is a political movement and communication between all Sunni political parties, with the aim of accelerating the election of the new Speaker of the House of Representatives, especially since it supports the initiative to unify the position of the Sunni political house.”
She added, “There are efforts to hold an extraordinary session to elect the new Speaker of the House of Representatives during the next few days, and perhaps by the end of this week, and this matter now depends on what the current political dialogues and negotiations between all political parties will produce.”
Parliament failed in four attempts to elect a replacement for Al-Halbousi due to the lack of consensus on a single candidate, in light of Sunni fragmentation and the coordination framework's insistence on keeping Mohsen Al-Mandalawi, the first deputy speaker of Parliament, as acting president, or the “conditional” agreement on a Sunni political figure.LINK
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6/24/2024 Baghdad - INA - Amna Al-Salami
Today, Monday, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, identified the most important economic gains achieved due to the rise in oil prices, pointing out that global energy market sources indicate that the current rise in oil prices will continue until the end of the year 2025.
Saleh said to the Iraqi News Agency (INA): “There is a clear link between the rise in revenues from Iraq’s exported oil due to the rise in energy prices in global markets on the one hand, and the sustainability of financing investment projects whose allocations are estimated in the Federal General Budget Law No. 13 of 2023 (the tripartite budget).” Which exceeds 55 trillion dinars annually.”
He explained, “The rise in oil prices above their estimated rates leads to reducing the hypothetical deficit gap in the annual general budget, which is estimated at approximately 64 trillion dinars, and provides sustainability of spending on development projects,” stressing that “the hypothetical deficit is no longer a reason for faltering or delaying reconstruction projects and expenditures.” Related investment.
Saleh added, "The government program has prioritized, in its philosophy and general directions, the policy of diversifying sources of income in the national economy."
He stated, “For the first time, sovereign guarantees are granted to market activities and the private sector as a partner in development, with priority to major economic diversification activities, by providing appropriate financing to the private sector from global financial sources in order to finance the transfer of modern technology, especially the manufacturing and petrochemical industries, as well as industries related to the provision of high-quality products.” “A link to reconstruction, to ensure stable and high growth rates and provide the requirements for sustainable development and operation.”
He pointed out, “Global energy market sources indicate that the current oil prices will continue to rise until the end of the year 2025, with an average price of one barrel of crude oil at no less than $82, which is an average that exceeds the conservative price mentioned in the general budget law above, which was estimated at about $70 per barrel.” LIN
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Everybody should be pumped and ready to go... Article quote: "Sovereign guarantees to the private sector will contribute to the industrial renaissance" This article right here will blow your socks off...
Nader From The Mid East Things have been moving a little bit from here to the 8th of July. I hope we have an answer cuz that's what they shooting for. I don't know if it's going to be good or bad...It's more good than bad but I don't want to say anything about that cuz if anything happen you're going to say, 'Hey, but you said this. You said that.'
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Iraq's Central Bank Still Dealing With Corruption Despite New Reform
Nader: 6-24-2024
The CBI has found multiple private banks that have been money laundering and handling large amounts secrete US currency transactions. With this being handled and taken care of soon, Iraq will soon be on a path to cleaning out the corruption.
Will the EU collapse: Indonesia Join China and Reject the EU
Fastepo: 6-24-2024
Indonesia's pivot from the European Union to China in its trade relationships is rooted in the contentious regulatory environment imposed by the EU's Green Deal.
The EU's stringent anti-deforestation legislation, aimed at preventing commodities linked to deforestation from entering the European market, has created significant barriers for Indonesian exporters, particularly smallholders in the palm oil industry.
In contrast, China has presented itself as a more flexible and supportive ally. With robust investments in Indonesian infrastructure and industries, including significant projects in the digital economy and renewable energy sectors, China has become Indonesia's largest trading partner.
This strategic shift is further solidified through agreements under the Belt and Road Initiative, which have enhanced economic integration and mutual benefits.
As a result, Indonesia's trade focus has increasingly turned towards China, reflecting a pragmatic approach to securing economic growth and stability amid global challenges.
Economist’s “News and Views” Monday 6-24-2024
U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne
Daniela Cambone: 6-24-2024
The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.
He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”
On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.
"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.
U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne
Daniela Cambone: 6-24-2024
The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.
He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”
On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.
"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.
He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.
CHAPTERS:
00:00 De-dollarization
5:48 HSBC statement about the US dollar
7:21 Fed rate cuts
10:58 Job market
13:50 People can’t retire
16:52 Housing purchasing
20:44 Stock market
23:39 Investing in precious metals
24:58 Future of America
BRICS' WIN IN ASIA: Malaysia & Thailand Apply to Join, While Japan Is Ditching US Treasuries
Lena Petrova: 6-24-2024
US Dollar to Get Re-Priced from ‘Widely Overvalued’ Levels, Massive Impact on Gold, Bitcoin Targets
Kitco News: 6-24-2024
U.S. Treasuries will be dumped as global reserves by 2030 as the U.S. dollar will get re-priced from "widely overvalued" levels, Luke Gromen, founder and president of Forest for the Trees (FFTT), tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.
Gromen weighs in on what he sees as the new global reserve asset and what it means for gold and Bitcoin prices.
Goldilocks' Comments and Global Economic News Monday 6-24-24
Goldilocks' Comments and Global Economic News Monday 6-24-24
Good Evening Dinar Recaps,
CFTC Announcement:
"Washington, D.C. — The Commodity Futures Trading Commission Open Meeting scheduled for Monday, June 24, 2024, has been cancelled. The matters under consideration have been completed through the Commission’s seriatim process."
Let's take a close look at what has been completed.
* "Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom
* Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market"
Goldilocks' Comments and Global Economic News Monday 6-24-24
Good Evening Dinar Recaps,
CFTC Announcement:
"Washington, D.C. — The Commodity Futures Trading Commission Open Meeting scheduled for Monday, June 24, 2024, has been cancelled. The matters under consideration have been completed through the Commission’s seriatim process."
Let's take a close look at what has been completed.
* "Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom
* Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market"
The first item on the list above that was completed dealt with Cross-Border applications of Swaps Provisions. Capital and Financial reporting is being allowed by non-U.S. swap dealers and market participants (MSPs) that meet agreed upon standards with their home jurisdiction's regulations instead of the CFTC's. You can look at the list above of Nations that qualify.
The reason for the above being so important is because of the following procedures. These swap execution facilities have to be registered to operate as derivatives clearing organization that will allow global access to foreign currency exchanges and other financial instruments of interest.
The final item deals with designating contracts. Designated Contract Markets (DCMs) are exchanges that list trading futures or option contracts that are based on all types of commodities. And this, comes under the Commodities and Futures Trading Commission (CFTC) and their governance.
Compliance Date: Effective July 13, 2023. Derivative Clearing Organizations DCOs must comply by July 12, 2024. (See Federal Register link below)
The completion of these swap dealer compliance issues in the Forex Market comes at a time when Iraq has just completed their requirements on phase one of their economic reforms. Phase one is a completion of reforms that have now qualified Iraq for international trade. CFTC Federal Register
© Goldilocks
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Options Clearing Corporation: Risk Management Transformation | Youtube
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Understanding Treasury Contract Specifications | Youtube
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Central Bank Swap Arrangements, Explained | Youtube
👆 Goldilocks pointed to this article
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Hong Kong invites global opinions on web3 and virtual assets future - StartupNews fyi
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Asset managers update proposals for Ether ETFs, eyeing July launch — Blockchair News
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Commission seeks input from industry on the use of artificial intelligence in finance - European Commission
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The podcast 6/22/24 on Vietnam should get everyone excited about where we are with FACTS. Podcast Youtube
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The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You
The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You
J. Arky Sat, June 22, 2024 GoBankingRates
America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While many nations frequently struggle to maintain balance in a financial standing with lenders and other countries, the United States is facing a staggering number of $1,000,000 worth of debt per citizen.
In March 2024, CNBC reported that America’s national debt “…permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion.”
The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You
J. Arky Sat, June 22, 2024 GoBankingRates
America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While many nations frequently struggle to maintain balance in a financial standing with lenders and other countries, the United States is facing a staggering number of $1,000,000 worth of debt per citizen.
In March 2024, CNBC reported that America’s national debt “…permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion.”
That is a lot of money and there are not a lot of clear answers as to how to pay it off. Even in an advanced country, which is often seen as the richest and most powerful nation in the world, the path to wiping the slate clean and going back to zero remains murky at best. So where did all this debt come from and how is it going to impact you as a citizen of the United States? GOBankingRates checked in with a few economists to find out.
How Did We Get Here?
“The U.S. national debt reaching nearly $1,000,000 per American can be a startling figure, but it is essential to break down where this debt comes from and its implications,” said Dennis Shirshikov, a finance professor at the City University of New York.
Shirshikov defined the national debt as the total amount of money that the U.S. federal government owes to creditors, which range from financial institutions, private investors and other lenders across international lines.
“It comprises both public debt, owed to foreign and domestic investors, and intragovernmental holdings, such as Social Security and Medicare trust funds,” Shirshikov explained. “The debt has accumulated over decades due to persistent budget deficits, where government expenditures surpass revenues.”
The rise of high-interest consumer credit options played a huge role for the current balance facing Americans, according to Michael Schmied, senior financial analyst at Kredite Schweiz, who specifically highlighted the role of credit cards, personal loans and those tempting buy-now-pay-later offers as contributors to the nation’s debt.
“They make borrowing money way too easy — and often come with sky-high interest rates,” Schmied said. “This combo has led folks to rack up debt faster than they can pay it off, pushing the average debt per person up to almost $1 million.”
Where Did All This Money Go?
To Read More:
https://www.yahoo.com/finance/news/us-debt-near-1-000-190024462.html
“Tidbits From TNT” Monday Morning 6-24-2024
TNT:
Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”
Today , Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.
The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”
She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."
Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.”link
TNT:
Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”
Today , Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.
The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”
She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."
Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.”link
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Tishwash: The President of the Republic calls for amending laws related to investment
The President of the Republic, Abdul Latif Gamal Rashid, called today, Monday, for amending the laws related to investment, while praising the efforts of the Financial Supervision Bureau.
A statement from the Presidency of the Republic, received by Al-Iqtisad News, stated that “President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makiya,” noting that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”
The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."
He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."
He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."
For his part, Makiya stressed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents."
The statement continued, "The President of the Republic, Abdul Latif Jamal Rashid, also received today at Al-Salam Palace in Baghdad, the head of the Financial Supervision Bureau, Ammar Subhi Khalaf, and during the meeting, the work of the Financial Supervision Bureau was discussed."
The President of the Republic stressed "the importance of the Bureau's work in establishing concepts of integrity and transparency for the work of state institutions," noting "the necessity of continuing efforts to preserve public money and combat administrative and financial corruption."
He pointed out that "promoting the concepts of integrity and anti-corruption helps support the country's development process, enhances investment and supports the private sector, and provides equal opportunities for all," indicating "the importance of strengthening coordination between all regulatory bodies to achieve these goals."
He referred to "the work of the Financial Supervision Bureau in monitoring the performance of state institutions," praising "the efforts made by it in taking care of public money, reducing waste of spending, and monitoring the implementation of development projects in the country."
For his part, Ammar Sobhi Khalaf appreciated the “directives of the President of the Republic,” reviewing the work progress of the Financial Supervision Bureau, the tasks assigned to it, and the plans drawn up to develop the work in the future to achieve the goals set for it.” link
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Tishwash: Warning against trading digital currencies in Iraq
The Securities Commission warned against trading digital currencies in Iraq, noting that there are 9,000 currencies in the world.
Waddah Al-Taha, a member of the Authority’s Council, explained that digital currencies are virtual currencies created by individuals, not an entity authorized by governments, and they are based on unsubstantiated assumptions, whether they are currencies, gold, or other assets.
He added that the existence of digital currencies depends on scarcity, such as Bitcoin, of which there are 21 million pieces, and their acquisition requires solving a puzzle to access them, or using mining or logarithms, and they consume a lot of electrical energy.
Al-Taha pointed out that adopting such assets to exchange goods using cryptocurrencies is a dangerous gesture the more it is adopted, but it has been imposed in one way or another on countries or companies, and is not determined by influential parties, whether the United States, China, or other major economies, noting that it must There should be rules for these currencies, not that the door be wide open for them.
He refused to let Iraq deal in these currencies because they lacked basis for evaluation except supply and demand. link
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CandyKisses: Disabling official working hours next Tuesday (Tomorrow) on the occasion of Eid Al-Ghadir
Baghdad - Mil
The State Media Cell announced, on Sunday, the disallation of official working hours next Tuesday on the occasion of Eid Al-Ghader Al-Aghar.
The official media quoted the spokesman for the team, Haider Al-Majeed, followed by "Mil", that "The Prime Minister, Mohammed Shia Al-Sudani, directed during the meeting of the Council of Ministers, in its twenty-fourth regular session, held on 2024/6/10, to disrupt official working hours on Tuesday, corresponding to June 25, 2024, in all ministries and government institutions, coinciding with the day of Ghadeer, based on the provisions of Article (1/I/G) of the Law on Public Holidays (12 of 2024)."
With the launch of the activities of "Al-Ghadeer Week" with the participation of 12 countries, the Iraqi Ministry of Interior confirmed, on Friday, the preparation of a plan to secure the atmosphere of Eid Al-Ghadeer Al-Agar and facilitate the entry and movement of visitors in Najaf and the rest of the governorates.
Last Thursday, the Supreme Committee for the activities of "Ghadeer Week" in Iraq announced the completion of the preparations and preparations for that religious occasion, which was approved on a recent official holiday.
On the 18th day of Dhul-Hijjah according to the Hijri calendar, Shiites celebrate "Eid Al-Ghadir," which is the date on which the Prophet Muhammad delivered the sermon of Ghadeer in the area of "Ghadeer Kham", while returning from his last argument (the farewell pilgrimage), in the tenth year of Hijra, in which his cousin, Imam Ali, was given an imam to Muslims after him.
On May 22, the Iraqi parliament voted on the bill for public holidays, which included the Eid al-Ghadeer holiday.
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Mot: ... ssssshhhhhhhhhhhhhhh
Mot :Getting Serious Now - Got my new workout equipment
If The Grid Fails, Will Currency Work? | Rafi Farber
If The Grid Fails, Will Currency Work? | Rafi Farber
Liberty and Finance: 6-22-2024
As the war in Israel is getting worse, Rafi Farber discusses how he's preparing. He is now grappling with the risk of the electrical grid failing and social unrest increasing.
While these risks may seem remote to those who live in the U.S., he discusses how these risks are everywhere.
Basic use of credit cards or ATMs could be halted by a grid down scenario.
"This is why I have silver in my house," says Farber.
If The Grid Fails, Will Currency Work? | Rafi Farber
Liberty and Finance: 6-22-2024
As the war in Israel is getting worse, Rafi Farber discusses how he's preparing. He is now grappling with the risk of the electrical grid failing and social unrest increasing.
While these risks may seem remote to those who live in the U.S., he discusses how these risks are everywhere.
Basic use of credit cards or ATMs could be halted by a grid down scenario.
"This is why I have silver in my house," says Farber.
INTERVIEW TIMELINE:
0:00 Intro
1:11 Preparedness
6:41 Understanding risks
9:59 Repo market
14:15 Gold open interest
17:32 A currency reset?
21:54 Last thoughts
More News, Rumors and Opinions Sunday PM 6-23-2024
No Way Financial System Survives – Bill Holter
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Financial writer and precious metals broker Bill Holter has been documenting all the unpayable debt that has been building up in the financial system like cancer. The latest black hole of default is coming from a big bank in Japan. Norinchukin Bank is selling $63 billion in Treasuries and other sovereign bonds to stay afloat.
Then there is recent news announced by the FDIC that 63 US banks (the names are being kept secret) have more than $500 billion in losses, and let’s not forget about the trillions in losses sitting on the books of European banks ready to suck the world into a black debt hole.
This is just a few of many on a long list of destabilizing problems that can tank the entire over-indebted financial system.
No Way Financial System Survives – Bill Holter
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Financial writer and precious metals broker Bill Holter has been documenting all the unpayable debt that has been building up in the financial system like cancer. The latest black hole of default is coming from a big bank in Japan. Norinchukin Bank is selling $63 billion in Treasuries and other sovereign bonds to stay afloat.
Then there is recent news announced by the FDIC that 63 US banks (the names are being kept secret) have more than $500 billion in losses, and let’s not forget about the trillions in losses sitting on the books of European banks ready to suck the world into a black debt hole.
This is just a few of many on a long list of destabilizing problems that can tank the entire over-indebted financial system.
Holter warns, “The list is so long, it could be a banking problem. It could be a derivatives problem. It could be a derivatives problem in the stock market, the bond market and you could see a failure to deliver in silver.
Some type of warfare could crash the system. You could see warfare in Ukraine, Israel or Taiwan.
The system is so unstable, at this point, it could be anything that could bring it down.
Unpayable debt is not just a US problem. This is all over the world.
Central banks are having to issue huge amounts of debt because we are in the exponential decay phase. We are exactly where Richard Russell said we would be 20 years ago. It’s inflate or die, and the only way to inflate is to create more money supply.”
Add to that the $10 trillion in debt the US Government has to roll over by the end of the year. Meanwhile, the US government piles on $1 trillion in new debt every 100 days. What could go wrong?
Holter said the last time he was on USAW that there was a little less than a 50% chance we would even have an election. Now, he predicts it is more likely there will be no 2024 Presidential Election.
Holter says, “There is no way the system, as it is now, survives. It’s mathematically impossible. So, if it is mathematically impossible, are they going to blow smoke . . . up until the day it blows up? Or are they going to do something to blow it up and then say our programs and policies were working except for XYZ this or whatever.
They have to kick the table over. They cannot allow the table to fall over on its own because then there is going to be finger pointing.
To avoid the finger pointing, they have got to kick the table over.”
Holter also thinks gold is going to exponential numbers to back all the debt the USA has. If you go with the 8,030 tons of gold the government claims is in Fort Knox, you will need a dollar price of gold at “$125,000 per ounce for 100% gold backing of the dollar.”
Holter also says, “The dollar is being pushed out of the global financial system. . . . Demand for dollars is shrinking at a time when borrowing demand is rising.” This is a going to be a disaster for America and anyone holding dollars in the future.
In closing, Holter says, “The financial collapse that is coming will be worse than anything we have ever experienced. This is going to be far worse than the Great Depression simply because society itself is far worse. . . . Back in the Great Depression, you had neighbors helping neighbors. Today you will have neighbors picking on other neighbors like vultures.”
There is much more in the 51-minute interview.
Join Greg Hunter as he goes One-on-One with financial writer and precious metals expert Bill Holter for 6.22.24.
https://rumble.com/v52z8ew-no-way-financial-system-survives-bill-holter.html
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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 Sun. 23 June 2024
Compiled Sun. 23 June 2024 12:01 am EST by Judy Byington
Global Financial Collapse Imminent
It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for your family and to share with others in case of emergency.
Judy Note: The U.S. Petro Dollar (CIA money that controls Middle East Oil) was finished. The fiat US dollar was near collapse. No major country wanted the U.S. Federal Reserve Dollar for trade. Fake Wall Street financial reports were in limbo. Money was running out across the World as the Deep State money was evaporating inside a massive Black Swan Financial Collapse Event. It’s time for a Global Currency Reset to gold/asset-backed monies.
Wolverine and MarkZ confirmed that bank personnel were on a one hour alert to be called in over the weekend. Tony felt there was a 99% chance Tier4b would be notified this weekend
Sat. 22 June 2024 Wolverine: “Hi Wolverine, I wanted to tell you and others in Australia that my friend here in oz who is a HSBC bank manager just msg me he has been placed on call until 1 hour notice until Thurs. 27 June, I am confident the window for us is about to open, cheers Peter.”
Sat. 22 June 2024 Mike Bara: The “Bondholder” is once again certain he gets paid out on Tuesday 25 June, but he is returning to his city of origin tomorrow. He HAS to be in this location to get his payout. This means the payout COULD come sooner than Tuesday 25 June 2024.
Sat. 22 June 2024: GESARA Redemption Centers Information: GESARA Matrix Revealed as Your Golden Ticket to Instant Millionaire Status! – American Media Group (amg-news.com)
Global Financial Crisis:
Sat. 22 June 2024 Malaysia, which controls 25% of the world’s sea route trade via the Strait of Malacca, announced it is joining BRICS: https://www.newstarget.com/2024-06-21-malaysia-joining-brics-sea-trade-strait-malacca.html
Sat. 22 June Washington DC: The US Treasury Building in DC has been boarded up
The U.S. Oil Dollar (CIA money controlling the Middle East oil) was done. The fiat dollar was near collapse and no major country wanted the U.S. Federal Reserve Dollar. The fake Wall Street financial reports were in limbo. Money was running out across the World as the Deep State money was evaporating inside a massive Black Swan Event Financial Collapse.
Read full post here: https://dinarchronicles.com/2024/06/23/restored-republic-via-a-gcr-update-as-of-june-23-2024/
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CBI Begins Second Phase of Reform RE Boom 120 °F and Rate Expectations
Edu Matrix: 6-23-2024
CBI Begins Second Phase of Reform RE Boom Heat and Rate Expectations! CBI Excellent News; RE Boom; 120 °F; Exchange Rate Profit Potential.
Iraq's Central Bank Releases New Reform Strategy
Nader: 6-23-2024
Goldilocks' Comments and Global Economic News Sunday Afternoon 6-23-24
Goldilocks' Comments and Global Economic News Sunday Afternoon 6-23-24
Good Evening Dinar Recaps,
From Last Night:
China has been selling their US Treasury Bonds and buying gold to create a diverse net worth of their holdings in gold. It has allowed them to decouple their economy from the dollar and begin a Treasury Bond Market of their own.
As of May 2024, gold makes up 4.9% of China's foreign exchange reserves. Central Banks have been buying gold at record rates around the world to achieve their Independence and Sovereignty.
The bond market plays an important role in the valuation of financial assets. The utilization of this financial tool will aid the countries who have moved through their Article 4 consultations with the IMF to achieve financial clarity and direction.
Goldilocks' Comments and Global Economic News Sunday Afternoon 6-23-24
Good Evening Dinar Recaps,
From Last Night:
China has been selling their US Treasury Bonds and buying gold to create a diverse net worth of their holdings in gold. It has allowed them to decouple their economy from the dollar and begin a Treasury Bond Market of their own.
As of May 2024, gold makes up 4.9% of China's foreign exchange reserves. Central Banks have been buying gold at record rates around the world to achieve their Independence and Sovereignty.
The bond market plays an important role in the valuation of financial assets. The utilization of this financial tool will aid the countries who have moved through their Article 4 consultations with the IMF to achieve financial clarity and direction.
China intends to move into their Treasury Bond Market gradually. They intend to use this as a liquidity tool to help manage interest rates and move their monetary system forward through the support of gold as collateral instead of the dollar.
Other countries around the world are in process of doing the same. Over time, we will be witnessing an increase of exchange rates determined by each country's ability to collateralize their newfound level of Independence through gold as it deflates their inflating economies.
It is important for us to watch these new trends as they will create new valuations upon currencies that have been lying dormant for many years. These new local currencies being traded between nations going forward will soon be operating from their own strength and support through gold. Morning Star Investopedia
Gold will set us free.
© Goldilocks
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"The tokenized US Treasuries market reached an all-time high of 2,143 holders on June 18th, with a 250% year-to-date growth, according to data aggregator RWA.xyz. The Ondo Short-Term US Government Bond Fund (USDY) leads with 1,054 holders and over $218 million in tokenized bonds."
Tokenized US Treasury Market! Do you see it's importance now? And why, Central Banks have been buying so much gold? The Central Banks have been the banks for our banks for a long time, and now, they are about to become our banks through a Digital Network System.
As our bond markets are tokenized, they will be the underlying assets that support the rest of our country's currencies. Because these tokens have gold within there net worth, it will turn our fiat system into a Real World Asset backed by gold utilizing a digital protocol that standardizes each transaction made around the world.
This is the new Gold Standard, of which, we are in process of achieving. It will guide us forward into more and more creative possibilities that are endless in their capacity to achieve abundance we have not seen before.
We are certainly not there yet, and transitions can be hard. But, we are standing at the edge of an opportunity that requires faith, hope, and love for those around us as we journey through this time together. CryptoBriefing RWA
The world we have been seeking for so long has just found us, and we are about to step into it.
© Goldilocks
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Demand for Tokenized Treasury Bonds Soars as Crypto Investors Chase TradFi Yield | Youtube
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Tokenized Municipal Bonds | Andrew Samu | Youtube
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The Swiss National Bank (SNB) has announced that it has become the world’s first central bank to ‘carry out a monetary policy operation in a live production environment’ using distributed-ledger technology’ (DLT).
It made the announcement during a press conference in Zurich (20 June) that led with updates on topics such as inflation and the Swiss economic outlook before focusing on fintech-related innovation – chiefly new ambitions for its wholesale central bank digital currency (CBDC) pilot initiative ‘Project Helvetia’.
The SNB stated that it had successfully issued digital SNB bills on the SIX Digital Exchange (SDX) – the ‘tokenised assets’ platform sibling of the SIX Swiss Exchange, Switzerland’s principal stock exchange – ‘at the beginning of June’. The token-based bills, which had an issuance volume of CHF 64 million (about £56.6m/$71.6m), had a one-week term Currency Insider SNB
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China Securities Regulatory Commission
The CSRC will explore the introduction of STAR 50 index futures and options, establish “green channels” for M&A, and optimise market-maker and trading mechanisms, among other measures. | Global Times
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CBI Begins Second Phase of Reform RE Boom 120 °F and Rate Expectations | Youtube
👆 Goldilocks pointed to this article
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Goldilocks Daily Podcast -- Vietnam Hot Topic 06.22.2024
LISTEN HERE
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Some “BRICS News” Sunday 6-23-2024
BRICS Currency Unveil in 2024: What Next?
Fastepo: 6-22-2024
The BRICS nations are developing a new currency to reduce global reliance on the US dollar. This effort aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance.
In the first week of June, Russian President Vladimir Putin announced this initiative during the St. Petersburg International Economic Forum.
The concept of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar.
In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new global reserve currency to reduce reliance on the dollar and euro.
BRICS Currency Unveil in 2024: What Next?
Fastepo: 6-22-2024
The BRICS nations are developing a new currency to reduce global reliance on the US dollar. This effort aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance.
In the first week of June, Russian President Vladimir Putin announced this initiative during the St. Petersburg International Economic Forum.
The concept of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar.
In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new global reserve currency to reduce reliance on the dollar and euro.
To facilitate cross-border transactions among member states, the BRICS Pay system was introduced.
It leverages digital technologies and blockchain to provide a secure, transparent, and efficient payment platform.
This system is seen as a precursor to a more unified BRICS currency.
In 2024, BRICS nations announced plans to create a digital currency payment system, leveraging blockchain technology to enhance financial integration and reduce reliance on Western financial systems like SWIFT.
Malaysia Just Changed the Future of Asia with THIS One Move!
Cyrus Jenssen: 6-23-2024
Malaysia is moving forward and will be joining BRICS later this year! This is massive news for the BRICS alliance as Thailand has also announced similar intentions. Malaysia and Thailand joining BRICS is huge news and no one is more excited about this than China who depends on the Strait of Malacca for its oil imports.
Malaysia is joining BRICS to help boost it's local currency as the BRICS organization will be launching a new currency trading platform later this year! Let's break it down in today's video
0:00 - Intro to Malaysia Joining BRICS
1:16 - Why the Strait of Malacca is so Important
3:25 - China's Backup Plan
4:20 - How China Built It's Reputation in Asia
5:55 - Why Malaysia is China's Best Friend in Asia
6:55 - Why the World Wants to Move Away from US Dollar
8:30 - Why Turkey Will Join BRICS
9:05 - How Joining BRICS Will Help Malaysia
How BRICS Nations Are Overcoming Western Bias in University Rankings
Think BRICS: 6-22-2024
Discover how BRICS nations are overcoming Western bias in university rankings through innovative strategies and cooperation. Education, economic growth, and global competitiveness are at the forefront of this transformation.
This video explores how BRICS countries, under Russia's presidency, are enhancing education standards, establishing the BRICS Network University, and promoting eco-climatic literacy.
Learn about the significant efforts in higher education, such as the BRICS International Olympiad and the development of an alternative university ranking system. Key figures like Viktor Sadovnichy and institutions like Moscow State University are leading the charge for a fairer, more comprehensive evaluation of global education standards.
The video delves into the impact of Xi Jinping's policies on Chinese universities and the ongoing efforts to strengthen academic cooperation among BRICS countries.
Highlighting major events such as the BRICS Summit and the BRICS Rectors' Forum, it underscores the importance of policy change, mutual recognition of qualifications, and collaborative research.
This holistic approach aims to create a skilled human capital base crucial for economic growth and social equity. With a focus on shared prosperity, the video illustrates how BRICS nations are setting new benchmarks in global education.
00:00 Introduction to Education's Economic Impact
00:33 The Importance of Education in BRICS Countries
00:44 BRICS Education Initiatives Under Russia's Presidency
01:52 BRICS Network University Project
02:09 Mutual Recognition of Qualifications
02:15 Environmental and Cultural Initiatives
02:38 BRICS International Olympiad and University Rankings
03:19 Challenges in Global University Rankings
04:50 Alternative University Ranking Systems
05:47 Impact of Geopolitics on Education
07:20 China's Shift in University Rankings
09:01 BRICS Unified Regulatory Framework
09:45 BRICS Science Academies Meeting
10:39 International Scientific Collaboration
11:34 Successful Educational Cooperation
12:42 The Role of Education in Economic Growth
13:14 Conclusion and Final Thoughts
“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."
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
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
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
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.
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.
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
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