News, Rumors and Opinions Wednesday AM 7-17-2024

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 Wed. 17 July 2024

Compiled Wed. 17 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Tues. 16 July 2024 MarkZ: “Some of the Zim charity platforms may go first – is what I am suddenly hearing. Maybe even before some of the Historic bonds. So I am hearing positive things for those who aggregated Zim for humanitarian reasons. That being said…..I heard that the initial releases of money are being pushed very hard for humanitarians. That is the priority. But this does not mean there is a delay for us currency holders, just that humanitarian projects are the priority.  I am getting that from bunches of sources. I have also had a number of sources from groups reach out over the last 12-14 hours that if we have projects to submit- be sure to get those dusted off and prepared and ready.”

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Tues. 16 July 2024 Bruce:

Sources are talking of this going by Thurs. 18 July.

We should be notified to set appointments sometime between now and Thurs. 18 July.

Money is moving and Bond Holders are to receive email tomorrow Wed. 17 July for access to their monies on Thurs. 18 July.

A strong contact in Iraq is in touch with high people in Erbil – that are saying the budget and rate will be published in tomorrow’s Gazette Wed. 17 July.

Gesara is to be announced.

If you are a Zim or Currency Holder you should receive the R&R at the time of your exchange.

If you are not a currency holder you should receive your R&R by the end of July.

Tues. 16 July 2024: GESARA: The Hands Of God! This Is Wealth Creation! (VIDEO) – American Media Group (amg-news.com)

Mon. 15 July 2024: UPDATE: New List of Banks That are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! – American Media Group BOOM! A New List of Banks That are Connected to the QFS System or are Being Connected – QFS + RTGS Trust the Plan! (amg-news.com)

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Global Financial Crisis:

 Tues. 16 July 2024: It’s a done deal! We’re about to take a significant leap forward. While things may get tougher before they improve, the Quantum Leap is now fully underway! …US Debt Clock on Telegram

Tues. 16 July 2024: BRICS to use Crypto for its new payment system, Chairman of the Russian Federation Council says. https://x.com/BRICSinfo/status/1813002862424957031

Tues. 16 July 2024: THE EUROPEAN CENTRAL BANK IS SET TO DELAY THE OUTCOME OF A LARGE-SCALE INVESTIGATION INTO HIGH-RISK LOANS FROM BANKS. Nobody should be surprised.  https://x.com/goldtelegraph_/status/1813039825089405329?s=46

Tues. 16 July 2024 Japan: It is getting sad in Japan. Japan is warning that the country is ready to take all possible measures in the currency market. This is what desperation looks like. https://x.com/goldtelegraph_/status/1813073390250696805?s=46

Tues. 16 July 2024 Australia Guy: “ATMs still down today. I needed 50 cash and had to buy something from the shop so they would let me get cash out. They gave me nearly all they had left. Cash is running out and ATMs don’t work.”

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Wars and Rumors of Wars:

Tues. 16 July 2024 Iran: “Western Union has ceased operations in Iraq following instructions from the US Federal Reserve Board. The US has begun to abandon Iraq by restricting the use of dollars and abandoning purchases of Iraqi oil.” Jalil Al Rami: “Tampering with electronic platforms has had a negative impact on the parallel market.” …Jalil Al Rami – Economic Expert

Tues. 16 July 2024 Iran: Iran says it’s ready to supply oil and gas to all BRICS countries. “Iran can provide oil and gas to BRICS countries to meet their energy needs, and in return, other member states can take steps to meet Iran’s needs in various banking and trade exchange sectors.”

Read full post here:  https://dinarchronicles.com/2024/07/17/restored-republic-via-a-gcr-update-as-of-july-17-2024/

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
Sudani said we have a new currency... FRANK:  They're not talking about the 3-zero notes...They're talking about the new currency that's going to match a new exchange rate.  FIREFLY:  Any new currency will have to be lower notes...

Pompey Peter  Deputy Prime Minister of Iraq has been in Washington that's well covered in articles...The CBI governor was also in Washington.  We believe there is a possibility that a higher rate was being discussed which could have been the purpose of the "whites of the eyes" meeting while these gentleman were in the United States...Just an opinion that a higher rate may have been involved and that needed not any approval but support and discussion with support.

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ALERT: U.S. Banks Report Losses & Increase Reserves for Losses Amid 23% Surge in Delinquencies

Lena Petrova:  7-16-2024

https://www.youtube.com/watch?v=aQmW2QVVphQ

Andy Schectman: Gold, Silver Rally As Traders Price '98% Probability' of Sept Rate Cut

Arcadia Economics:  7-16-2024

Andy Schectman: Gold, Silver Rally As Traders Price '98% Probability' of Sept Rate Cut In a year that began with expectations of rate cuts that haven't yet come, it's increasingly appearing that the wait may be coming to an end.

Because as of Tuesday morning, the futures market is now pricing in a 98% probability of a rate cut by the September meeting.

https://www.youtube.com/watch?v=hpgpo6bqYCY

Tidbits From TNT” Wednesday Morning 7-17-2024

TNT:

Tishwash:  this video is not coming from the CBI or iraq   this video is from Saudi Arabia just fyi

Video that Frank showed tonight

This is the information they have typed below the video on Youtube

“The project to delete zeros from the currency is still in place,” this was confirmed by the Governor of the Central Bank, Ali Al-Alaq, in his latest statements about the project to delete three zeros from the Iraqi dinar. So what does that mean?

The policy of deleting zeros from the currency means, for example, that the value of a one-thousand note is 1,000 dinars, and will be replaced by a note worth one dinar of the new currency.

Iraq is not the only country that resorts to the policy of deleting zeros from the currency, but there are seventy-70 cases that the world has witnessed since the year one thousand nine hundred and sixty 1960, including

Türkiye: Deleted six zeros from its currency in 2005

Zimbabwe: deleted twelve 12 zeros from its currency in 2009.

And Venezuela: Five zeros were deleted in 2018

 But how will the Iraqi economy be affected by deleting the zeros if it is implemented? Although the actual value of the money that people own does not change after deleting the zeros, this step contributes to simplifying the buying and selling processes for individuals and companies.

It makes financial amounts simpler and more understandable. Instead of dealing with huge numbers such as one million 1,000,000 Iraqi dinars, they can be converted into one thousand 1,000 dinars only after deleting three zeros.

Removing zeros may also help in issuing small currencies such as coins, enabling small commodities to be repriced at lower prices. It gives a positive psychological boost to citizens that the Iraqi dinar can now buy more goods and services.

Therefore, countries aim by deleting the zeros to restore confidence in the local currency among citizens and investors

The demand for it increases, and the local currency becomes more competitive with foreign currencies and its exchange for other currencies decreases.

 The policy of deleting zeros is often linked to broader economic reforms, such as raising interest rates on bank deposits, to encourage people to save within banks and benefit from high interest on their bank deposits, in an attempt to withdraw liquidity from the market, reduce consumption and decline in prices.

Then exploit this liquidity to expand productive projects, attract local and foreign investments within the country and create many job opportunities to eventually revive the local economy.

But on the other hand, deleting the zeros may cost Iraq money to print new banknotes to no avail. For example, after eliminating 3 zeros from the Iraqi dinar, when we talk about a 200 dinar banknote, it is actually equivalent to 200,000 dinars.

 Therefore, it may be necessary to print 4 more 50 dinar notes instead of the 50,000 dinar note.

However, this may not have a clear impact on improving the local economy if it is not part of an economic reform package that helps reduce the amount of money circulating among people and stimulate the economy.

Especially since Iraq's economy is an oil economy that needs to stimulate other productive sectors to drive the local economy

Could deleting the zeros from the Iraqi dinar be a real start to stimulating Iraq's economy?

https://youtu.be/kTL-jZko4GE

Tishwash:  Iraq and Vietnam discuss tea farm mechanisms and ways to develop them

The General Company for Foodstuff Trading at the Ministry of Trade discussed with the Vietnamese side the mechanisms of the tea farm and ways to develop it.

The Ministry of Trade's media stated in a statement received by the Iraqi News Agency (INA), that "the General Company for Foodstuff Trading at the Ministry of Trade held a joint meeting (online) today, Tuesday, with the Vietnamese side to discuss the mechanisms of the tea farm's work and ways to develop it, headed by its Director General, Lama Al-Moussawi, in the presence of the departments of financial, legal and import affairs." 

Al-Moussawi said, according to the statement, that "the meeting discussed the mechanisms that would develop the work by introducing modern mechanization in the packaging and sorting processes of tea types prepared for marketing, in addition to purchasing new plants to increase production,"

Indicating that "during the meeting, the Vietnamese side was asked to prepare technical and financial studies regarding the development of the work, which expressed its satisfaction with the level of accuracy and transparency in the dealings adopted by the General Company for Foodstuff Trading, which contributed to obtaining positive results for both parties."   link

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This is the volume of our trade with Iran.. An economist reveals the reasons for the dollar problem inside Iraq

Economic expert, Munir Al-Abidi, revealed today, Tuesday (July 16, 2024), the volume of trade between Iraq and Iran, while indicating that the dollar problem in Iraq is not due to official trade.

Al-Obaidi said in a clarification he published on Facebook, which was followed by "Baghdad Today", "The Iranians say that our trade with Iraq during three months amounts to 3 billion dollars, distributed as 1.2 billion to meet the need for gas, 700 million dollars for electricity, while 200 dollars are for food, and another 200 million for iron trade."

He added, "This means that the value of food and iron during the year amounts to only 1.5 billion dollars annually," indicating that "some say that our trade with Iran amounts to 12 or 14 billion dollars, which is the reason for the dollar crisis."

Al-Obaidi said, "Our official trade for the private sector does not exceed 3 billion dollars with Iran and does not exceed 300 million dollars with Syria," stressing that "the problem with the dollar is not the official trade with Iran and Syria."

He pointed out that "the problem of the demand for dollars in the local market is to cover the needs of other types of informal and illegal trade, most notably drugs," stressing that "all this fuss, crying and wailing in the channels is to reopen the money channels for this trade  link

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Tishwash:  Drones target Ain al-Asad Air Base in western Iraq

Two drones targeted the vicinity of Ain al-Asad Air Base in western Iraq, where Global Coalition forces are stationed, an Iraqi security source reported on Tuesday evening.

The source, speaking to Shafaq News Agency, confirmed the attack but did not provide further details on casualties or damage.

Earlier this year, factions within the Islamic Resistance in Iraq (IRI) had announced a halt to operations against US forces in Iraq, leading to a period of relative calm.

This drone attack marks a resumption of hostilities.

IRI refers to Tehran's military allies in Iraq, such as Kata’ib Hezbollah and Harakat Al-Nujabaa, it is a part of the "Axis of Resistance" alongside Lebanon's Hezbollah, Yemen's Ansarallah (Houthis), and other Iran-backed factions.

All groups within the Axis have declared that their attacks will persist until a ceasefire is achieved in the Gaza Strip, where Israel's actions have resulted in the deaths of over 39,289 Palestinians, predominantly children and women. link

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Mot: This Journey Has Been Really Hard on My Fairy GodMother!!!.........

When I Started the Journey

Just Last Week!!

“Inflationary Forces”? Duh

“Inflationary Forces”? Duh 

Notes From the Field By James Hickman / Simon Black 7-16-24

Jamie Dimon is the CEO of JP Morgan Chase, one of the world’s largest banks. And last week he issued a stern warning on the bank’s quarterly earnings call that “multiple inflationary forces” are still lurking.

File that one away under “duh”. It should be completely obvious to just about anyone paying attention to the world that many of the key drivers that rocketed inflation higher are still with us.

The Federal Reserve, of course, desperately wants to pretend that inflation is in the rear-view mirror, never to return. And they keep insisting that the downward trend of inflation justifies their interest rate cuts.

But as Mr. Dimon points out, “large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world” all create high risk of substantial inflation.

We agree with him.

“Remilitarization of the world”, i.e. conflict, is very expensive. The very nature of war means consuming vast quantities of resources to produce munitions that will destroy your adversaries’ resources.

Most governments don’t have the money to do this. The last time the United States was able to fund a war without going into debt was the Spanish-American War in 1898. Every other war, or even preparation for war, required significant additional debt... which ultimately resulted in printing more money.

So, in the end, warfare means more money in the system, but fewer resources. This is the very definition of inflation.

Dimon mentions trade disputes as well, which are also very expensive.

Free trade creates wealth. It allows countries and producers to specialize in what they do best, and trade for what other countries do best.

Germany is great at high tech manufacturing, pharmaceuticals, and various other industries. But they can’t produce bananas to save their life.

Fortunately, Guatemala exists. Guatemala has no high-tech industry. But they’re great at bananas. It’s a sensible trade.

When nations are in dispute with one another, trade breaks down and they start having to produce goods and services where they have no expertise.

Sometimes it works out; in one of their endless wars with France, Britain boycotted French wine... and in the process, accidentally invented port. But usually, such inefficiencies create a lot of inflation.

Dimon also mentions infrastructure needs. And that’s a massive understatement.

The US highway system is deteriorating. Amtrak is blowing money without any serious improvements. California is tens of billions of dollars over budget, and several years late, for a high-speed rail it promised from San Francisco to Los Angeles.

It doesn’t help that they put $1 trillion in the hands of an incompetent diversity hire like Transportation Secretary Pete Buttigieg.

All of this money will need to be conjured out of thin air by the central bank, which, again, is inflationary.

Lastly, Dimon also references “large fiscal deficits”, which is putting it politely.

We’ve said it many times— the government’s own internal projections expect an extra $22 TRILLION in deficit spending (i.e. new debt) on top of the $35 trillion national debt, over the next decade. Most of that will come within the next five years.

Deficits are inflationary, as we have seen over the past few years.

To be fair, there are some potential deflationary forces as well.

Increases in productivity are very deflationary. Technology, driven by artificial intelligence, could be monumental in improving productivity and keeping prices down.

Yet there are also a lot of people in government (and even within the AI industry), trying to slow down development and hold back AI.

Capitalism— which encourages competition to offer the best quality goods and services at the lowest prices— is also deflationary.

Unfortunately, many people in power despise capitalism and rail against it as racist, misogynist, or bad for the planet.

To Read More:   https://www.schiffsovereign.com/trends/inflationary-forces-duh-151157/

More News, Rumors and Opinions Tuesday PM 7-16-2024

TNT:

Tishwash:  Minister of Trade arrives in Geneva to head the negotiating team for Iraq's accession to the World Trade Organization

On Tuesday, Minister of Trade Athir Dawood Salman headed the negotiating team for Iraq’s accession to the World Trade Organization in Geneva, while indicating that Iraq would proceed with its accession to the global organization.

The Ministry of Trade said in a statement, seen by "Economy News", that "Minister of Trade Athir Dawood Salman arrived in Geneva today, Tuesday, at the head of the Iraqi negotiating team for Iraq's accession to the World Trade Organization to attend the third meeting of the working group for Iraq's accession, 16 years after the second meeting was held."

It added that "Iraq is proceeding, through the national committee concerned with its accession to the World Organization, which is headed by the Minister of Trade, to complete its procedures to complete the required files and support reforms and legislation to be in line with the market system and enhance the country's economic capabilities to complete the requirements of the next stage of the accession process

Explaining that "the preparatory meetings of the Iraqi negotiating team are continuing at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group for Iraq's accession, which will be held this week  link

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
My bank guy just flat out came out and told me, to be honest with you I think it will reinstate to what it was before and then it's going to float like any other international currency...It's more from the rumor mill.  FRANK:  I know it's going to reinstate.  You know it.  The money exchangers know it, that's why they went ape %$^%.  That's why they're happy! ...This is the 3rd time your bank friend tells you $3.22 and it will float...That is the most logical thing for the CBI to do.

Militia Man  They pushed out the HOR meeting till after this next holiday which is on the 17th...The WTO meeting they say is on the 18th unless their calendar changes.  I highly suspect that won't be the case.  They set the stage for the presidency to be done on the 20th.  Those are the things we're looking at today...I hope you guys understand what we're seeing is powerful and I'm pretty excited and I think everybody else should be.  It's really looking good...

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KTFA:

Clare:  Iraq Resumes WTO Accession Talks After 16-Year Hiatus

16th July 2024 By John Lee.

Iraqi Trade Minister Athir Dawood Al-Ghurairi announced the resumption of preliminary meetings for Iraq's accession to the World Trade Organization (WTO) after a 16-year pause.

The Iraqi negotiation teams have started preparatory meetings at the WTO headquarters in Geneva, preparing for the third working group meeting on Iraq's accession.

According to a statement from the Ministry's media office, Riyad Fakher Al-Hashemi, Director General of the Foreign Economic Relations Department, indicated that the first preparatory meeting was held with the WTO's Accession Section Director and experts in goods, services, and intellectual property.

This meeting, chaired by Al-Hashemi and including negotiators from various Iraqi ministries and the Kurdistan Region, discussed key files and documents previously submitted by Iraq.

The third official working group meeting, to be led by the Trade Minister representing Iraq, will review the completed files and documents prepared by the national committee responsible for the accession. This marks a significant step as the Iraqi negotiation team reaches a high level of expertise in dealing with complex issues related to WTO membership.

(Source: Ministry of Trade)   LINK

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Clare:  Third round of negotiations for Iraq's accession to the World Trade Organization

7/16/2024

Minister of Trade Athir Dawood Salman arrived today, Tuesday, in the city of Geneva, Switzerland, at the head of the Iraqi team negotiating Iraq’s accession to the World Trade Organization to attend the third meeting of the working group on Iraq’s accession, 16 years after the second meeting was held

The statement of the Ministry's media office, a copy of which was received by {Euphrates News}, indicated that "Iraq is proceeding, through the national committee concerned with its accession to the World Organization, which is headed by the Minister of Trade, to complete its procedures to accomplish the required files and support reforms and legislation to be in line with the market system and enhance the country's economic capabilities to complete the requirements of the next stage of the accession process." 

The statement noted that "the preparatory meetings of the Iraqi negotiating team are continuing at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq's accession, which will be held this week." LINK

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EMERGENCY ANNOUNCEMENT Vietnam Decree 52

Edu Matrix:  7-16-2024

EMERGENCY ANNOUNCEMENT Vietnam Decree 52 - Major Financial Changes in Vietnam. IQD Investors, watch carefully.

 https://www.youtube.com/watch?v=e4xHtO-16Sw

The Market Cracks Are Growing WIDER

Lynette Zang:  7-16-2024

Today we are talking about the markets cracks opening up and exposing truths like the S&P 500 being propped up by 7 companies out of 500 which are the only ones to remain with positiveuoearnings and what these false market highs really mean for you...

https://www.youtube.com/watch?v=I9jIyZSGs0U

Seeds of Wisdom RV and Economics Updates Tuesday Afternoon 7-16-24

Good Afternoon Dinar Recaps,

FIVE CENTRAL BANKS HAVE INTERCONNECTED THEIR INSTANT PAYMENT SYSTEMS

"Five central banks have interconnected their instant payment systems, creating a framework for faster and more affordable cross-border payments globally.

These include the central banks of India, Malaysia, the Philippines, Singapore, and Thailand."

CLICK THE LINK TO WATCH THE SHORT VIDEO- VERY INFORMATIVE

While watching the video remember that Ripple is a member of the BIS cross-border Payments interoperability and Extention (PIE) taskforce.

@ Newshounds News™

Read and See more:  Twitter

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IRAQ RESUMES NEGOTIATIONS TO JOIN WTO

Baghdad (IraqiNews.com) – The Iraqi Minister of Trade, Atheer Al-Ghurairi, declared on Monday that discussions to join the World Trade Organization (WTO) had resumed after more than a 16-year break.

A statement issued by the Trade Ministry revealed that Iraqi negotiating teams began their preparatory meetings at the WTO’s headquarters in Geneva, Switzerland, in preparation for the third meeting that will discuss Iraq’s accession, the Iraqi News Agency (INA) reported.

During his participation in the 13th Ministerial Conference of the WTO held last February in the UAE capital, Abu Dhabi, Al-Ghurairi affirmed that Iraq fulfilled the conditions necessary to become a member of the WTO following the completion of economic reforms and the enhancement of the investment climate.

The Iraqi Trade Minister indicated that Baghdad finalized issues related to goods and services in accordance with the deadlines set for integration into the international trade system.

The Iraqi government expressed interest in joining the WTO after submitting a request to do so in 2004. Iraq needed to be a member of the multilateral international trade system in order to regain its place as a major player in the global economy.

In addition to debating the future of the global trade movement in light of current challenges, Al-Ghurairi said that the conference sends a strong message to the countries of the world about the value of joining this organization.

The Iraqi official added that Iraq is attempting to expand its commercial and economic connections around the world in order to create new opportunities for collaboration.

@ Newshounds News™

Read more:  Iraw News

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Japanese tokenized deposit platform DCJPY starts production testing

DeCurret DCP, the company behind the DCJPY tokenized deposit network, said it has started production testing of the network. It expects to go into production in August. DeCurret runs the Japanese Digital Currency Forum, which has more than a hundred corporate and government participants who are exploring a broad range of applications that use digital currencies for settlement. DeCurret also raised significant funding from several big names, including MUFG, SMBC and SBI Holdings.

However, they are not participants in the first application, which uses on-chain bank deposits to pay for tokenized renewable energy certificates (RECs). The Internet Initiative Japan (IIJ) recently became a member of the Japan Electric Power Exchange (JEPX) to procure RECs on behalf of its data center clients. Now it plans to convert the RECs into digital tokens and settle transactions with tokenized deposits from GMO Aozora Net Bank.

In the future DeCurret DCP wants to expand the application by including electricity retailers, power companies and carbon trading exchanges.

The key benefits of on-chain payment is it eliminates settlement risk because the asset and money exchange simultaneously. Another advantage is automation, with programmability payments enabling a vast range of use cases.

The DCJPY Network consists of two separate blockchains, a Business Zone(s) and a Financial Zone. Only banks are present in the Financial Zone and this is where they tokenize the deposits and the DCJPY transfers actually happen. The transfer of the asset is recorded in the Business Zone. However, so are the instructions to transfer the DCJPY (but not the actual transfer). This requires synchronization between the two blockchain zones. DeCurret DCP uses the Inter-Blockchain Communication Protocol (IBC) from Cosmos.

Meanwhile, a recent DeCurret DCP survey showed a luke warm appetite for digital currencies from enterprises. Out of 100 companies surveyed, 26% aim to use digital currency in one to three years. Just over two thirds of those with plans are members of the Digital Currency Forum.

Japan’s approach to digital currencies
Japan is one of the most advanced economies in terms of legal support for digital currencies. It passed legislation that supports three types of stablecoins. These include two bank related ones – stablecoins backed by bank deposits and third party reserve backed stablecoins where the reserves are managed by trust banks. Hence, in the realm of digital currency, DCJPY faces competition at launch.

@ Newshounds News™

Read more:  Ledger Insights

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BRICS: EVERY AFRICAN COUNTRY PREPARING TO JOIN the ALLIANCE

"Former Ethiopian speaker of the house Agegnehu Teshager revealed that all African countries are interested in joining the BRICS alliance. His statement comes at a time when developing countries are looking to sideline the US dollar and use local currencies."

"Developing countries are finding the BRICS de-dollarization agenda lucrative as the initiative can boost their native economies and local currencies. "

"“Africa is a great potential for BRICS, most African countries have an appetite to be a member of the alliance,” he said. The former speaker continued, “Africa’s economy is developing and the continent is interested in the BRICS alliance.”  

"Ethiopia is the new entrant in the BRICS alliance and is the second African nation apart from South Africa to be a part of the grouping. The bloc might invite many other countries during the 16th summit and expand the alliance in 2024. However, there is no clear information on which countries might receive the invitation."

NOTE: JUST BECAUSE A COUNTRY EXPRESSES INTEREST IN BECOMING A MEMBER OF BRICS DOESN'T MEAN THEY ARE AUTOMATICALLY A MEMBER. THERE IS A PROCESS TO MEMBERSHIP..  

@ Newshounds News™

Read more:  Watcher Guru

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Cardano (ADA) Price Surges 40% as $240M TVL and Ethereum ETFs Emerge Bullish Catalysts

Cardano (ADA) has experienced a significant price surge, trading at $0.44, up 40% over the last ten days, fueled by several internal and external factors that are generating renewed investor interest and optimism.

Cardano Price Crosses $0.45 First Time in 10-Days

After having dropped to historic lows on Friday July 5, a positive shift in the US macroeconomic environment has provided a favorable backdrop for ADA’s recent rebound phase.  Positive Non-Farm Payroll (NFP) and Consumer Price Index (CPI) data have bolstered investor confidence in the economic outlook, supporting the overall cryptocurrency market.

Furthermore, the anticipation of Ethereum ETFs expected to launch soon has spilled over into the altcoin market, including Cardano, as investors look for promising opportunities beyond Bitcoin and Ethereum.

@ Newshounds News™

Reas more:  The Crypto Basic

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Economist’s “News and Views” Tuesday 7-16-2024

100 Days to the BRICS Summit: What You Need to Know Now

Think BRICS:  7-15-2024

100 Days to the BRICS Summit: What You Need to Know Now! This video provides exclusive insights analysis on the upcoming BRICS Summit 2024 in Kazan.

 Discover how the BRICS bridge and alternative payment system will reshape global economics. Tune in as we discuss the BRICS Parliament, the newly proposed grain exchange, and the ambitious BRICS expansion plans.

Our experts reveal the latest BRICS news and debunk common BRICS fake news, ensuring you get the most accurate information. This live stream, part of our Think BRICS series, is your go-to source for comprehensive updates.

 We explore the Think BRICS partnerships with the BRICS+ University Association and the BRICS+ Development Group and their significance in the evolving geopolitical landscape. This video covers critical topics that will be discussed at the Kazan Summit.

 In this live stream, we revisit key topics from past videos and provide fresh perspectives on what to expect at the BRICS Summit in Kazan this October. From policy changes to new initiatives, get a complete understanding of the strategic moves by BRICS countries.

While this video offers an in-depth analysis of various aspects of the BRICS Summit 2024, it does not delve into the detailed history of the BRICS nations. We focus on the upcoming summit and future developments rather than past events

https://www.youtube.com/watch?v=R72CocwIc9s

One MAJOR Financial Domino Left to Fall: Tavi Costa

Daniela Cambone:  7-15-2024

"We’re close to a major domino falling in the next six to nine months," predicted Tavi Costa, macro strategist at Crescat Capital.

He explains to Daniela Cambone that the equity markets are likely to be the next to feel the economic repercussions driven by the higher cost of capital, which will impact the valuation of companies.

 "Ultimately, I would say that we're going back to a world where investors pay closer attention to profitability,” he stresses. Costa also remains firm on his recession outlook. “You can plug in so many charts—yield curve versus unemployment rates, initial jobless claims, continuing jobless claims.

You can see that clearly, the steepening of the yield curve from inverted levels is a very negative signal for the economy,” he explains.

 Watch the compelling video to learn more about Costa’s views on the economy.

https://www.youtube.com/watch?v=ysi6FBVNnpI

How They Can Print Money in Secret Without QE

Heresy Financial:  7-15-2024

TIMECODES

0:00 Video Overview

1:39 Treasury Buyback

 4:16 Rule Changes for Bank Leverage Ratios

 6:39 Balance Sheet Composition Shuffle

 10:31 Stealth QE and the Long-Term Debt Cycle

https://www.youtube.com/watch?v=nkxAxG2RzN0

News, Rumors and Opinions Tuesday 7-16-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 16 July 2024

Compiled Tues. 16 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Sun. 14 July 2024 Wolverine: “It has started. This report came through today (Sun. 14 July): “Zurich, London, Toronto and Reno now confirm activation ends today (Sun. 14 July), with payments held on Monday (15 July). Most platforms will send notification over the weekend and start payments on Tues. (16 July). Reno actually started payments (to Whales) yesterday (Sat. 13 July). Ok. Have a beautiful day.”

Mon. 15 July 2024 Baratel’s “Bond Holder” contact isn’t paid, however this guy’s “colleagues” got paid: https://rumble.com/v571j4c-monday-morning-news-baratel-and-jentel.html

Read full post here:  https://dinarchronicles.com/2024/07/16/restored-republic-via-a-gcr-update-as-of-july-16-2024/

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

Militia Man   This next week there's supposedly a formal and historic meeting with the WTO and Iraq on the basis of accession... They told us it was going to be formal and historic...

Buckeyetree  ...Much progress has been made from the USA trip by Sudani in April, the technology with fiber optics, electronic banking, using only the dinar, foreign contracts with huge projects, the ATMs, and the HCL practically done with Barzani in agreement for the goal not to be now counted in days rather than weeks and months. The cherry on top would be securing the Speaker of the HOR and ascension to the WTO on July 18.

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TNT:

Tishwash: Iraq advances one place in the world's gold reserves

The World Gold Council announced today, Monday, that Iraq has advanced one place in the list of countries with the largest reserves of the precious metal in the world.

According to the latest table published by the Council in July, which was reviewed by Al-Eqtisad News, it advanced to 30th place out of 100 countries listed in the table with the largest gold reserves, after it was ranked 31st globally, and fourth in the Arab world after Saudi Arabia, Lebanon and Libya.

According to the table, Iraq maintained its gold holdings unchanged, reaching 1,457 tons, which represents 10% of its other reserves.

The Council pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Suriname came in last with 1.2 thousand tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world  link

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EXCELLENT NEWS Iraq's GDP News IQD Rate Fluctuation

Edu Matrix:  7-16-2024

EXCELLENT NEWS Iraq's GDP News Rate Reached 1306 IQD - In 2024, Iraq Has the 5th Largest Economy in the Arab World.

https://www.youtube.com/watch?v=ZlEPDacb5Rc

An UNSTOPPABLE WALL OF EXPANDING HYPER-DEBT IS RAPIDLY APPROACHING. ARE YOU READY?

Greg Mannarino:  7-15-2024

https://www.youtube.com/watch?v=931XoR7xSek

“Tidbits From TNT” Tuesday Morning 7-16-2024

TNT:

Tishwash:  Iraq resumes negotiations to join WTO

 Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced on Monday the resumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.

A statement by the ministry, seen by "Al-Eqtisad News", quoted the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, as saying that "the Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq's accession."

Al- Hashemi added that "the first preparatory meeting was held at the organization's headquarters with the Director of the Accession Department and the organization's experts in goods, services and intellectual property, headed by the Director General of the Department of Economic Relations and the membership of negotiators representing the Iraqi ministries and the Kurdistan Region; to discuss the most important files and documents submitted by Iraq in the previous stage." 

He pointed out that "the third official meeting of the working group, which will be headed by the Minister of Trade representing Iraq, will witness a review of the files and documents completed by the National Committee concerned with accession."

He continued, "This is the first time that the Iraqi negotiating team has reached this level of experience in the field of negotiation, which reflects the development of their capabilities and efficiency in dealing with complex issues related to WTO membership  link

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Tishwash: Pros and cons of Iraq joining the WTO

Appearance of Mohammed Saleh

Since 2003, Iraq has adopted broad open policies towards the world and sought to establish important economic and legislative rules that operate according to the mechanisms of the market system, most of which helped improve Iraq’s foreign trade, after an economic blockade that lasted for more than a decade and led to Iraq’s marginalization on the map of the global economic system and deprived it of investment opportunities, progress, development and technological knowledge that should have helped it confront the rapid developments and changes that international markets have witnessed and whose competitive capabilities have changed dramatically over the past two decades at least.

Thus, Iraq became isolated from its international environment in the midst of a world swept by the currents of merging its companies, liberalizing its markets and integrating them, especially the financial ones, and the dominance of the new liberal doctrine, which required broad economic transformations in the field of information technology that became in harmony with the internationalism of productive activity through the role that multinational companies began to play and the increasing competitive advantage of the products that the world markets began to generate.

However, we find in the integration of financial markets, whose assets exceed $850 trillion, the main title of financial globalization and the main focus of dominance in the globalization of the new liberal economy. At the same time, it represents the trend of transition in the axes of international trade and the introduction to the transformation from the scope of the GATT Agreement signed in 1948 to the World Trade Organization Agreement (WTO), where the latter focused on regulating a wide range of trade in services, especially financial services, whose annexes were called the GATS Agreement in 1994 based on the Uruguay Round.

While the gross domestic product of the world's 192 economies does not exceed $83 trillion annually at present (and the value of world trade in goods and services has also not increased annually by more than a third of the aforementioned global output), we find that trade in currency conversion, speculation, and short-term capital movements exceeds about $4.5 trillion daily in international monetary and financial markets, a speculative financial trade whose annual total exceeds more than fifty times the total global trade in goods and services.

In the midst of these changes in the international commercial and financial space, Iraq has moved to important organizational levels in the transition to a market economy to break the effects of its international isolation by engaging in a strong area of ​​economic liberalism that focused on liberalizing the areas of Iraq's foreign trade in goods and services and the means of financing them, despite the fluctuations in its organization.

As well as the development and expansion of areas of progress achived in some financial services and improving the environment for foreign investment through the legislation of the banking and investment laws and the Central Bank Law, which allows foreign banks to operate in Iraq and allows the transfer of capital and currency in a manner that serves Iraq's openness to the world in the conditions of a central rentier economy that is difficult to deal with in understanding market liberalism, which nevertheless led to providing positive opportunities and promising legal and organizational foundations for the Iraqi business environment.

However, all of this is not enough to put Iraq on the path of international economic competition. There are still more than five thousand legislative texts that hinder economic freedom and market activity, which are being studied by legal circles and which must be amended so that Iraq can integrate into international trade and investment and prepare it to join the World Trade Organization according to the terms of membership in it so that our country can obtain the most-favored nation status and the principle of national treatment.

However, the paradoxes of joining revolve around the issues of oil and agriculture, in addition to other problems of joining.

While oil sector production dominates nearly 50% of Iraq’s GDP, the sector employs only 2% of the Iraqi workforce, and the country’s crude oil exports and revenues constitute the near-absolute majority of total exports, general budget revenues, and foreign exchange earnings.

 In light of all this, the World Trade Organization excludes crude oil as a commodity within the group of raw commodities traded internationally, which remains the core of the contradiction in Iraq’s accession to that organization that excludes crude oil. If the World Trade Organization had allowed oil to be taken into account, the price would have been determined by global supply and demand, away from the cartel or consumer groups represented by the International Energy Agency and its lines and programs for rationalizing demand for oil. Or away from the cartel or producer groups represented by the Organization of the Petroleum Exporting Countries (OPEC) and its role in regulating production and influencing prices, which is the matter that imposed price and quantity restrictions on a commercial commodity, but a strategic and political one at the same time, which is the driving force of Iraq’s foreign trade.

On the other side of the Iraqi economy, we find the agricultural sector, which includes less than a third of the Iraqi population and about 22% of the Iraqi labor force, and does not contribute to the gross domestic product except by a percentage not exceeding 5%, which made the country a near-net importer of food or agricultural goods, the value of which exceeds 14 billion dollars annually. This important sector, which has been subjected to militarization and neglect over the past thirty years and more, does not have the sufficient components to provide food security in terms of grains or agricultural production requirements after the shrinkage of productive agricultural areas due to desertification, salinization, and the recent water crisis, which eliminated more than 50% of the lands prepared for agriculture, in addition to the deterioration of the agricultural infrastructure, 83% of whose components are controlled by the state as a public commodity.

Here the agricultural sector contradicts the oil sector structurally in the directions of openness to the global market and with two different wings in terms of the impact of commercial benefits and costs. The forces of the international market or global supply and demand have come to control strongly, whether in the demand for oil and its impact on the value of Iraqi exports or in the supply of food products and its impact on the cost of Iraq’s imports from them.

When referring to the philosophy of reducing customs restrictions by 24% and abolishing non-customs restrictions, which are the conditions imposed by the World Trade Organization on the member state in the group of developing countries to work with and implement them within a period of six years from the date of accession, in addition to reducing agricultural support by 13.3% within a period of ten years from accession

We find that these regulatory conditions of the World Trade Organization clash with the conditions and situations of the agricultural market and the global food stock exchange itself. If we look at the agricultural monopolies in the world in light of the deterioration of agricultural development in Iraq, we find a real threat to national food security that restricts the country in the event of joining the organization unless it is preceded by starting or following an agricultural program for self-sufficiency immediately.

We will really need a green revolution similar to what Mexico and many Latin American countries have done. Especially if we know that there are between 3 to 6 major monopolistic companies in the world that control 80 to 90% of agricultural crop trade and control prices and quantities such as wheat, sugar, tea, coffee, cotton, jute, etc. At a time when ten multinational companies still control a third of the world's seed and pesticide production and trade.

Despite the above, Iraq’s entry and integration into the global economic space through the World Trade Organization and its dealings with international groups on terms that apply to everyone from a formal standpoint at a time when the world is still divided between the countries of the North and the South or the countries of the advanced industrial center and the developing periphery, Iraq has no choice but to leave its international isolation that it inherited since the blockade that began in 1990, which placed Iraq under Chapter VII of the United Nations Charter or its aftermath, a chapter whose effects still provide a negative economic environment hostile to development and perhaps obstructing natural integration into the global market.

This chapter prohibits levels of investment in advanced technology or easy dealings with the world due to the restrictions it imposes on our country as a high-risk country that threatens world peace and allows the use of force against it in a regrettable legacy for the civilization of Mesopotamia despite the disappearance of the objective reasons for which the economic blockade was imposed on Iraq.

Noting that Iraq's accession to regional economic zones, such as the Greater Arab Free Trade Area and other economic agreements within the framework of the Arab League or other forms of regional integration and consolidation, must take into account the implementation of the provisions contained in the World Trade Organization Agreement and before it the GATT Agreement, both of which have become binding restrictions on the implementation of trade agreements. Thus, any trade facilitations within the framework of regional agreements become useless or worthless if they are less than the facilitations provided within the framework of the World Trade Organization.

Finally, Iraq's continued isolation from its international environment will cost it a lot due to the loss of organizational advantages and opportunities, technological and legal benefits, and other areas of investment and arbitration, which are opportunities that isolation from the world does not provide and does not enable a gradual transformation into a group of stable and low-risk countries, a transformation that encourages international cooperation in a secure global investment and trade environment, provided that effective development begins based on the strong push program.  link

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Mot: ... Guys! -- This is to Help You Recognize those Rare Signs!!!

Mot: Reflctions of a Boomer

Seeds of Wisdom RV and Economics Updates Monday Evening 7-15-24

Good Evening Dinar Recaps,

UNITES STATES CONSULTING FIRM SIGNS CONTRACT FOR IRAQ DEVELOPMENT ROAD

"By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, announced the signing of a contract with Oliver Wyman, a consultancy firm, to provide advisory services for the Development Road project. Al-Saadawi stated that the consultancy will assist the ministry in marketing the project and overseeing investment opportunities. The contract, signed by Younis Khalid Jawad."

@ Newshounds News™

Read more:  Iraq Business News

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What is IOTA?

IOTA (MIOTA) is one of only 8 ISO 20022 compliant coins.

Iota aims to be the economic layer for the Internet of Things, bringing microtransactions and data storage to a network of connected devices. It uses a distributed ledger technology called the Tangle, which is based on directed acyclic graph technology rather than blockchain.

Iota began as a pivot from an IoT microprocessor venture called Jinn. The Jinn team held a crowds ale in September 2014, promising holders of its native Jinn token a share in the company’s profits.

 The team pivoted following concerns around the regulatory soundness of Jinn tokens. In 2015, the project announced Iota, a cryptocurrency network for IoT devices that utilized some of the cryptographic techniques researched and developed at Jinn.

Iota does not have blocks, miners or transaction fees as are featured in most public blockchain networks like Bitcoin or Ethereum. This is to allow the scalability and speed necessary for machine-to-machine microtransactions, which are denominated in its native token, MIOTA. Instead, each transaction validates the previous two transactions, achieving consensus first locally, then globally.

The Iota Foundation, a German nonprofit, is currently building out the Iota ecosystem.

@ Newshounds News™

Read more:  CoinTelegraph

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Cardano and XRP Win Fresh Listing

Horizon Protocol, a leading innovator in the DeFi derivatives space, has announced, in a tweet, the much-anticipated listing of XRP, Cardano (ADA), and Chainlink (LINK) on its flagship derivatives platform, Horizon Futures.

This exciting development, approved through Horizon Improvement Proposal 16 (HIP-16), signifies a significant step forward for Horizon Protocol in its mission to enhance user experience and expand access to diversified trading opportunities.

The upcoming launch, scheduled for Thursday this week, will allow users to leverage Horizon Futures’ robust features to trade XRP, ADA, and LINK with competitive advantages. This includes access to low fees, a user-friendly interface, and the ability to leverage positions up to 27.5 times.

Horizon Protocol emphasizes the importance of community involvement and acknowledges the valuable role its users played in the approval of HIP-16. This collaborative approach underscores Horizon’s commitment to fostering a thriving DeFi derivatives ecosystem.

Strategic Listings Bolster DeFi Offerings
Horizon Protocol views the listing of XRP, ADA, and LINK as a strategic move to bolster its existing suite of offerings and cater to a wider range of investors. These cryptocurrencies, all boasting an established market presence and strong communities, represent a valuable addition to the Horizon Futures platform.

Their inclusion aligns perfectly with Horizon’s vision of enriching users’ trading strategies and providing them with the tools they need to navigate the dynamic DeFi landscape.

To ensure a seamless integration process, Horizon Protocol will implement necessary system adjustments to accommodate XRP, ADA, and LINK on Horizon Futures. The team will also closely monitor the performance of these newly listed assets to inform future enhancements and potential additions to the platform.

Building on a Strong Foundation...

@ Newshounds News™

Read more:  Times Tabloid

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

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Thank you Dinar Recaps 

Seeds of Wisdom RV and Economics Updates Monday Afternoon 7-15-24

(Due to some unforeseen new computer glitches this afternoon post was delayed)

Good Afternoon Dinar Recaps,

VND/USD EXCHSNGE RATE AS OF 7/15/24

"Reference exchange rate drops slightly at week’s beginning

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 24,245 VND/USD on July 15, down 3 VND from July 13.

With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 25,457 VND/USD and the floor rate 23,033 VND/USD.

At commercial banks, the opening-hour rates also fluctuated slightly.

At 8:20 am, Vietcombank listed the rates at 25,237 VND/USD (buying) and 25,457 VND/USD (selling), both down 3 VND from the rates two days ago.

BIDV also cut both rates by 3 VND, listing the buying rate at 25,237 VND/USD and the selling rate at 25,457 VND/USD."

@ Newshounds News™

Read more:  Vietnam Net

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News Update: Fedwire ISO 20022 Timeline

News Update: Fedwire ISO 20022 Timeline

In 2022, the Fed announced that the Federal Reserve Banks planned to adopt the ISO 20022 standard for the Fedwire Funds Service in a single-day implementation strategy on March 10, 2025. 

ISO 20022 is a globally accepted messaging standardization approach introduced in 2005 by the International Organization for Standardization with the goal of using the same language for all financial communications. 

The Fedwire migration marks a significant turning point in the modernization of the American payment system that complies with best practices and international standards.

Here are three key updates you need to know about the upcoming migration schedule/planned timeline.

Compliance Window:
At the end of October 2024, the compliance testing window will officially close. Any financial institution that wants to remain in compliance with ISO20022 needs to complete its testing with the Federal Reserve by that time.  

Post-Launch Integration
Compliance testing will resume two weeks following the launch (around late March).

Managing Non-Approvals
Organizations may choose to keep using the current method without paying penalties if they have not achieved compliance by the testing deadline. It's crucial to remember that ongoing use of Fedwire Direct requires compliance with ISO standards if a third-party solution is used for data loading. Therefore, financial institutions might not be able to use the solutions that are already available if these standards are not adopted and will be forced to manually load their wire transactions to the Fedwire Direct portal.

In partnership with the Federal Reserve, Alacriti has been proactive about ISO 20022. Alacriti’s solutions have all APIs built to the ISO 20022 standard, which is imperative for the RTP® network and the FedNow® Service, and also to accommodate the implementation that Fedwire has planned for 2025.

@ Newshounds News™

Read more:  Alacriti, ISO 20022 Timeline 

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SAB 121 IN THE NEWS AGAIN?

"The crux of the problem is the accounting rule forces assets under custody to be disclosed as both an asset and liability on the balance sheet, contrary to accounting convention.
This expands the size of the balance sheet on which banks have their capital requirements assessed. Hence, providing crypto custody would require banks to set aside large amounts of capital, making it prohibitively expensive."

"The saga has taken up a considerable legislator time. In May both the House (228 v 182) and Senate (60 v 38) voted in favor of a resolution to cancel SAB 121, followed by a Presidential veto. Last year the Government Accountability Office (GAO) ruled that SAB 121 was a rule that should have received Congressional approval. Plus, legislators wrote to bank regulators about SAB 121 multiple times."

"In March 2022 the SEC published SAB 121, apparently without consulting banking regulators. The rule impacts all listed firms, not just banks. However, if the potential impact on banks was immediately obvious to journalists, it’s odd that the SEC didn’t consider it."

"The issue is bigger than cryptocurrency. It’s widely believed that tokenization – of securities, funds and other real world assets – will see the rewiring of the financial system. The Bank of International Settlements, the central bank of central banks, frowns on crypto but is making a big push on tokenization.
In order for tokenization to progress in an institutional framework, it’s essential for assets to be held in custody by banks. The world’s largest custodian banks are American. BNY Mellon, State Street, JP Morgan, Citi and Northern Trust provide custody for $160 trillion in assets."

"While the United States prides itself on its sophisticated markets, institutional work on tokenization is happening elsewhere."

"Several U.S. firms are involved in the Singapore and European work. Resolving the custody issue could see a significant acceleration in activity on home soil."

@ Newshounds News™

Read more:  Ledger Insights

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Monday PM 7-15-2024

KTFA:

Clare:  Urgent... Al-Sudani directs to suspend work next Wednesday on the occasion of Ashura

7/15/2024

Prime Minister Mohammed Shia Al-Sudani directed the suspension of official work on Wednesday, July 17, 2024, in all ministries and government institutions, coinciding with the tenth of Muharram, the martyrdom of Imam Hussein, peace be upon him, on the day of Ashura.

The General Secretariat of the Council of Ministers said, a copy of which was received by {Euphrates News}, that the holiday came "based on the provisions of Article (1/First/C) of the Official Holidays Law (12 of 2024)."

The statement indicated that "the directive came during the Cabinet meeting in its twenty-ninth regular session, held on 4/14/2024."  LINK

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Clare: Harmonizing Iraq’s trade regime: A 20-year milestone achieved

11 July 2024  ITC News

Iraq accelerates its World Trade Organization (WTO) accession process by unifying tariff rates with Kurdistan region of Iraq.

For the past 20 years, Iraq’s trade has operated under a dual customs regime, with different tariff rates in Federal Iraq and Kurdistan Region of Iraq (KRI). This dual system has led to varying administrative and economic customs policies, creating complications for trade, and challenges in the way of ensuring a transparent and predictable business environment.

The process of Iraq’s journey to join the WTO, began in 2004 and recently gained new momentum. A key requirement for WTO membership is the implementation of consistent policies nationwide, including aligning tariff rates, customs procedures, and regulatory practices across all regions. The differences in tariff structures between Federal Iraq and the KRI have been seen as a barrier to achieving the necessary coherence and transparency for WTO accession.

Recognising this, Iraq decided to harmonise the two customs regimes in 2019. However, the implementation was delayed for several years. In 2024, with the support of the International Trade Centre (ITC) through the “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy (SAAVI)” project funded by the European Union, this harmonisation was finally undertaken.

As the first step, the tariff regime in Federal Iraq was updated to comply with the World Customs Organization’s Harmonised System Code of 2017. The process then extended to KRI, involving detailed reviews and multiple joint workshops, with customs offices from Baghdad, Erbil and ITC experts.

Together, they examined over 15,000 tariff lines to ensure compliance with international standards and to create a unified structure. The unified tariff framework was formally approved by the Ministry of Finance and published in the Official Iraqi Gazette on 5th February 2024 (No. 4758).

Acknowledging the efforts, Mr. Hakkam Anttar, Senior Manager, Customs Valuation Office, General Commission of Customs, said: “The ITC through the SAAVI Project,  in coordination with The Ministry of Trade has been providing expert technical support since the very beginning, in expediting the process of modernising and unifying Iraq’s Tariff structure based on 2017 Harmonized System. ITC, has played a vital role in developing an action plan with concepts and requirements.”

Resolving the dual customs regime issue marks a significant milestone in Iraq’s WTO accession process and underscores Iraq’s commitment to the multilateral trading system.

This achievement is part of a series of interventions undertaken by ITC to support the Government of Iraq, including substantial revisions to domestic reforms, alongside widespread capacity building and awareness-raising on WTO and trade policy.

About SAAVI:  The “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy’ (SAAVI) project, funded by the European Union, focuses on the development and implementation of sector strategies for high-potential products, as well as on defining market-oriented policies to improve predictability and efficiency in the business environment. SAAVI also helps enhance Iraq’s trade policy and supports the country in its WTO accession process.LINK

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

Pimpy  Article: "The stability of the exchange rate of the dinar against the dollar is real and firm" This is one of those big steps we have been looking forward to, which is stability of the currency.   We've talked about these a billion times - the country...government...economy and currency has to be stable.  Outside of a little back and forth with the government they seem to be doing pretty good everywhere else.  Good job Iraq.  They are now at a place in their country where the parallel market is not affecting the overall prices of their goods and services.

Militia Man  Ceasing the dollar auctions as we know it.  Tomorrow [Monday] is supposed to be the first day they're going to have a new mechanism for using the dollar and selling that dollar.  People are going to have to play by the rules and be part of that FITR platform.  We have to go from there to see...

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"You're Going To See Something More Devastating Than 2000 or 2008" –

Mike Maloney: 7-12-2024

In this eye-opening video, Mike Maloney explores the troubling signs pointing towards an impending financial crisis that could surpass the devastations of 2000 and 2008.

 As the US national debt races towards $35 trillion, he shows the convergence of alarming economic factors.

Learn how deficit spending, rising consumer debt, and skyrocketing inflation are shaping a perilous economic landscape. He also analyzes key indicators like trucking employment and real estate bubbles that signal an imminent recession.

Discover why this could be far worse than the Great Depression and what it means for your financial future.

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

We Have The Data Now: MASSIVE Recession Has JUST Been Confirmed

Atlantis Report:  7-15-2024

Over the past few months, economic analysts and experts have been sounding the alarm about a recession. There have been increasing concerns about economic instability, with these worries echoing in financial markets and boardrooms nationwide.

Now, a surge of data has confirmed what many have feared: the United States is on the verge of a recession. The state of retail sales has always been an indicator of economic well-being, and the most recent figures are concerning.

Retail sales in May were notably poor, worsened by significant downward adjustments to previous months' figures. This trend suggests that American consumers are facing significant challenges.

 Large retailers such as Target, Kohl's, and McDonald's have all warned that there has been a notable shift in consumer behavior. These warnings are not just based on personal accounts; they are backed by solid data.

https://www.youtube.com/watch?v=eOghhF5nfb8

News, Rumors and Opinions Monday 7-15-2024

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 Sun. 14 July 2024

Compiled Sun. 14 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Opinions/Rumors)

Judy Note: Numerous sources report that the Rodriguez monies (destined for humanitarian use) of the Global Currency Reset were (allegedly) released. Other monies including the St. Germaine Trust would likely be released sometime next week. Some Bond Holders and large Groups have (allegedly) been paid. Bankers have a booklet titled “Global Currency Reset” instructing them on how they can adjust to the gold/ asset-backed system.

Fri. 12 July 2024: The Imminent Global Currency Reset and NESARA GESARA: Black Swan Event, QFS, EBS, The Insolvency of 9 Nations & Global Market Crash – American Media Group (amg-news.com)

Sat. 13 July 2024 Imminent NESARA Trigger: Worldwide Banks to Shift to Precious Metals, Erasing All Credit Card, Mortgage, and Loan Debts Globally! – Gazetteller

Sat. 13 July 2024 Rodriguez Estate Manager Jeff Rahm (go to 46 min. mark): Weekend News with MarkZ. 07/13/2024 (youtube.com)  https://www.youtube.com/live/KiwzpYT3bGI?si=Z-nblkbtyEkbWjOG

MarkZ has Jeff Rahm on his show. He claims to be the asset manager for the Rodriquez Estate and has proof of such.  

The Rodriguez Family Estate came from King Solomon’s Temple. The Estate holds much value – it’s a 4 followed by 140 zeroes.

The gold is mainly stored in a Philippine 27 mile tunnel filled with gold bars, (plus rubies, diamonds, pearls), the gold bars stacked ten feet thick, ten feet high to the ceiling.

The Rodriguez Estate monies are to be used for Humanitarian purposes including for the Philippine people.

Jeff says the sleeper in the foreign currency crowd is the Bolivar –

Bond Holders are being paid. Large entities are being paid. There was all kinds of evidence that Dinar, Dong and Zim exchanges/ redemption will be next week.

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Global Financial Crisis:

Sat. 13 July 2024: Two of the largest banks in the US, JP Morgan Chase and Wells Fargo, are declaring a staggering $3.5 billion in debts that customers can’t pay back.

Sat. 13 July 2024: Banks Shutting Down. Banks closed 539 local branches across the country in the first half of the year – leaving more and more Americans without access to basic financial services. If this rate continues for the rest of 2024, it will mean more than 1,000 branches wiped from malls, and town and city centers. Bank of America closed the most branches, a total of 90 in just six months. Wells Fargo shut down 62 banks. Chase shut down 53 banks. TD Bank shut down 52 banks. The 17th Letter (JFK Jr.) on Telegram https://t.me/The_17_Letter_Q

Sat. 13 July 2024: 40 Banks Shut Down in Sudden ‘Vanishing Act’ – Absorbed Into Larger Lenders As Economy Teeters in China: Report. Banks are collapsing at an unprecedented rate in China due to a major downturn in the country’s property market, poor risk controls and other issues. In the week ending on June 24th, 40 smaller banks were sucked up by larger institutions, a vanishing act incomparable even to the savings and loan crisis of the 1980’s and 90’s, reports The Economist. Thirty-six of the 40 failed institutions were all absorbed into one giant lender: Liaoning Rural Commercial Bank, which was set up by regulators in September to manage bad banks. https://dailyhodl.com/2024/07/12/40-banks-abruptly-shut-down-in-vanishing-act-absorbed-into-larger-lenders-as-economy-teeters-in-china-report/

Sat. 13 July 2024: Emergency Alert: The Rapid Collapse of America’s Bank Branches: Wells Fargo Branch Shutdown, Chase Bank Closures and TD Bank Branch Reductions – Bank closures 2024 – American Media Group (amg-news.com)

Sat. 13 July 2024: BOOM! Putin’s Chilling Warning To Rothschild: “Our Future Generations Will be Born Without Rothschild Chains Around Their Wrists and Ankles.” – American Media Group (amg-news.com)

Read full post here:  https://dinarchronicles.com/2024/07/14/restored-republic-via-a-gcr-update-as-of-july-14-2024/

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

Militia Man  They haven't started oil pumping and you have to ask yourself, why?  Because they need revaluation for that and I think that's what we're waiting for.  Is that some sort of delay?  I don't think so.  I think the inner connectivity of the most complex revaluation situation in the history of mankind...is complex.

Frank26  How many times have I said to you the moment you see the HCL within nanoseconds you'll see the new exchange rate?  It's just like saying ladies and gentlemen you're about to see the new lower notes.  Well then you're also going to see the new exchange rate.  They both go hand in hand.

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Russia's Strategic Move: The Impending Collapse of the Dollar? - Alasdair Macleod

Economy Express:  7-14-2024

Join us as Alasdair Macleod delves into the complex dynamics of the global economy, focusing on gold acquisition, fiat currency depreciation, and strategic maneuvers by Asian central banks. In this insightful video, Macleod explains why China is persistently buying gold and what this means for the future of fiat currencies, especially the dollar.

*Key Points Discussed:*

1. **China’s Strategic Gold Acquisition**: Learn why China is buying gold, not for its rising value, but due to the falling value of fiat currencies.

2. **Asian Central Banks**: Discover how Asian central banks, particularly the People’s Bank of China, are moving away from dollar reserves and investing in gold.

 3. **Western Debt Traps**: Understand the debt challenges faced by Western governments and the potential economic decline.

4. **European Economic Instability**: Insights into France's financial turbulence and its impact on the Euro.

5. **Japan’s Monetary Policy**: The implications of Japan's minimal interest rate hikes and the yen's weakness on global finance.

6. **US Economic Dilemma**: The Federal Reserve’s challenges with high debt and interest rates in the US.

7. **Geopolitical Tensions**: The potential conflicts in the Middle East and their global economic impact.

8. **Ukraine Conflict**: Viktor Orban’s diplomatic efforts and the divide between Europe and the US.

https://www.youtube.com/watch?v=iZhT17dnSf0

“Tidbits From TNT” Monday Morning 7-15-2024

TNT:

Tishwash:  Angry demonstrations in Al-Shafi'iyya: Protests and burning tires to demand basic services

Al-Shafi'iyah district in Diwaniyah Governorate, southern Iraq, began on Monday morning with angry demonstrations that included burning tires to demand improved services.

A local source told Al-Mustaqilla that the protesters are demanding the improvement of basic services, most notably electricity, which is in severe shortage in the region.

Hundreds of citizens took to the streets to express their dissatisfaction with the deteriorating service conditions.  link

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Tishwash:  An economic expert calls for canceling the currency sale window

The economic expert, Dhia Al-Mohsen, called for canceling the currency selling window, pointing out that some beneficial political blocs were behind the continuation of this window to achieve financial gains.

Al-Mohsen told Al-Maalouma, “The citizen's interest necessitates the government to go towards canceling the currency selling window, in order to end the confusion occurring in monetary policy.”

He added, "The late former Central Bank Governor Sinan Al-Shabibi was behind opening the currency selling window for 4 years at that time in order to eliminate the inflation taking place in the country after its rate reached 50%."

He stated that "some political blocs have financial interests that push for the continuation of the operation of the currency selling window, to make it a gateway to financial gain, despite the absence of the need for it."   link

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Tishwash:  U.S. Consulate in Erbil Renews Support for Digital Financial System: Electronic Payments Are More Secure

The U.S. Consulate General in Erbil on Sunday, July July 14, 2024, renewed its support for the digital financial system, explaining that electronic payments are the most secure process.

The US Consulate General said in a statement, seen by Kurdistan 24, that "electronic payments are a safer way to access the US dollar, as it can be traded at its official price when used while traveling abroad."

The digital financial system will enhance access to "formal banking services such as loans, insurance, payments and savings, while reducing the risk of loss, theft and financial crime, and providing more investment channels," the statement said.

Washington's consulate in Erbil stressed continued support for the U.S. government and U.S. companies "to provide an accessible financial system for all" and urged "everyone to conduct their transactions through official banking channels."

Digital transformation is one of the top priorities of the ninth government formation of the Kurdistan Region. Therefore, the KRG through the Information Technology Department has committed to announcing and disseminating the KRG's first digital transformation strategy, which includes the following six core strategic activities: digital governance, digital engineering, human capital, user-centered design, security and data privacy, and procurement.

The strategy is key to achieving the KRG's vision, and its main objective is to make the KRG a hub of government digital maturity and thus one of the leading digital governments in the region by 2025. This means that it ensures that services are easily and quickly found and used by citizens. It is also designed to eliminate bureaucracy and enhance the efficiency of institutions in the public interest through the adoption of modern technology.  link

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Tishwash:  this was in Iraq's news

The International Monetary Fund warns the United States of a possible decline in demand for its government bonds   

The International Monetary Fund said that the United States risks facing a sudden decline in demand for its government bonds due to the authorities' inability to restore stability in the American financial system.

“Financial stability risks could manifest themselves in the form of an unexpected decline in foreign demand for US fixed-income securities, which constitute a major component of the country's external liabilities,” the fund's report said.

The International Monetary Fund warned that this threat may materialize if the American authorities are unable to restore financial stability in the national economy.

According to the Fund's forecasts, the possibility of such a risk remains moderate due to the dollar's dominant position as a reserve currency.
US Treasury bonds first appeared when the United States decided to enter World War I and found itself in need of money to finance the war. Bonds due for payment after a certain number of years and at a specific interest rate were issued to raise money from the public and institutions. The American government has continued to obtain financing for spending and filling the budget deficit through the sale of Treasury bonds to this day, while China is considered the most important foreign owner of these bonds.  link

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Mot: . Ya KNows What They Says bout Mornings!! – siiggghhhhhhhh  

Mot:  . Dang It!!!