Some “BRICS News” Monday 7-29-2024

BRICS NEWS: From Malaysia, Thailand and Turkey Accession to Launch of Intra-bank System

Fastepo:  7-29-2024

Over the past month, BRICS has seen significant developments, ranging from countries expressing interest in joining the bloc to the launch of an intra-bank payment system and financial system integration.

In this video, we will provide a quick update on these key events and offer a comprehensive overview of BRICS' position as of July 2024, along with the reasons why various countries are keen to join.

https://www.youtube.com/watch?v=X1q8PfFjAbs

BRICS' STRATEGIC WIN: Malaysia Joins BRICS, Russian FM Visits Malaysia As NATO Views Southeast Asia

Lena Petrova:  7-29-2024

https://www.youtube.com/watch?v=lt7sFxTbq9A

More News, Rumors and Opinions Monday PM 7-29-2024

KTFA:

Clare:  Clare: Spain signs EUR 1bn Cooperation Agreement with Iraq

29th July 2024   By John Lee.

The Spanish Export Credit Agency (CESCE) has signed an agreement with Iraq's Sovereign Guarantees Committee to enhance cooperation between Spain and Iraq.

The €1 billion agreement aims to facilitate Spanish companies in executing mutually agreed projects to support the development of Iraq's private industry under CESCE's coverage.

The agreement underscores the commitment of both countries to boost trade, develop business lines, and provide access to Spanish technology and expertise for large-scale projects across various sectors.

CESCE will support the export of equipment, industrial plants, and production lines for key industries in Iraq. The Iraqi government will provide sovereign guarantees for the financing of these contracts, ensuring legal and economic security for the transactions and encouraging investment.

The agreement was signed at CESCE's headquarters by its Executive President, Fernando Salazar, and Mohammed Sahib Al-Darraji, Technical Advisor to the Iraqi Prime Minister, in the presence of Iraqi Ambassador Salih Husain Ali.

This move aligns Spain with countries like Japan and Italy, which have also signed cooperation agreements with Iraq to strengthen economic and commercial ties.   LINK

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Clare:  Austrian Company wins License for Compliance Certificates in Iraq

29th July 2024 By John Lee.

The Iraqi Ministry of Planning signed a contract with Austrian company TÜV Austria, granting it a license to inspect and issue compliance certificates for goods imported into Iraq.

The contract was signed by Dr. Hussein Ali Dawood, head of the Central Organization for Standardization and Quality Control (COSQC), and Firas Mueed Hassan, the company's authorized representative in Iraq.

Dr. Dawood emphasized the importance of this partnership in ensuring the quality and safety of imported goods, which will benefit Iraqi consumers. He highlighted that TÜV Austria operates in several countries, including Iran, and this collaboration aims to strengthen economic and trade relations with Austria.

 Austrian Ambassador to Iraq, Dr. Andrea Nasi, who attended the signing ceremony, noted that the partnership will aid Iraq's recovery by ensuring the import of quality goods and streamlining import procedures, thereby supporting the Iraqi market.   LINK

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

Jeff   Did you know the US troops are going to start getting removed in the month of September?  Did you know Iraq will finish their accession to the World Trade in August? ...They still have 150 laws that need to be done.  They have a whole bunch of projects they need to start...The budget is not published in the Gazette...Did you know completing and implementing the reforms is a World Trade requirement but yet they're going to finish their accession in the month of August?  ...everything is waiting on this right here [the budget]...

Mike Bara  [via Judy Byington]  The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. ...Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.

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TNT:

With a grand celebration attended by dignitaries.. The opening date of the "architectural masterpiece" of the Central Bank is revealed - Urgent

A responsible source in the Central Bank of Iraq revealed, today, Monday (July 29, 2024), the imminent opening of the bank’s new building in the center of the capital, Baghdad.

The source told Baghdad Today, "It is scheduled that at the end of the current year or the beginning of the new year at the latest, the Central Bank building will be opened as the first architectural masterpiece with a height of (172) meters and includes (38) floors, including offices, meeting rooms, and fortified storage areas for money and gold, in addition to celebration halls and various theaters."

The source, who requested anonymity, added, "The opening of the Central Bank building will be accompanied by a very large celebration attended by senior officials in the Iraqi state, in addition to representatives of embassies and diplomatic missions. Moving the bank to this building will also ease traffic congestion in the Rashid area and nearby areas."

Work began on the new Central Bank building in 2018, designed by the late Iraqi architect Zaha Hadid. link

Banks Are About To DUMP BILLIONS IN DEBT ONTO THE MARKET! So Who Is Buying?

Greg Mannarino:  7-29-2024

https://www.youtube.com/watch?v=hq_T6kZduXw

Seeds of Wisdom RV and Economic Updates Monday Afternoon 7-29-24

Good afternoon Dinar Recaps,

Worldwide, People Reject the Central Bank Digital Currency

"Do people want central bank digital currencies, better known as CBDCs? Countries that have experimented with or launched digital versions of their respective currencies have witnessed little fanfare for these endeavors. Put simply, they are not appealing to the general public. 

Yet governments are still foisting them onto their populations, perhaps because they might be the greatest surveillance tool known to man."

"At the onset of the coronavirus pandemic, the Bahamas became the first nation in the world to issue a central bank digital currency. Whether it was out of fear that touching physical cash would result in COVID is unclear.

But the Caribbean island made history nevertheless by unleashing the Sand Dollar digital currency. It maintains two forms: retail and wholesale. The former allows consumers to utilize the CBDC, while the latter is solely dedicated to financial institutions."

"Now, about four years after the Sand Dollar’s introduction, it accounts for less than 1% of the money in circulation as acceptance and usage by businesses and consumers remain limited.

Additionally, digital wallet values tumbled to $12 million in the first eight months of last year (the latest data), down from $49.8 million in the same period a year ago."

"China became one of the world’s largest economies to introduce a central bank digital currency, known as the digital yuan or e-CNY. It had been years in the making, and because the Asian powerhouse is a hyper-digital location, officials had high expectations and believed their communities would ebulliently embrace the e-CNY. Today, there is very little action in the world of CBDCs."

"INDIA'S CBDC – the digital RUPEE – has experienced a decline in usage. Transaction rates had been solid in the months following its launch, mainly because the country’s banks had disbursed employee benefits in CBDC units. However, more consumers and merchants have shrugged off the authoritarian digital payment “innovation” throughout 2024."

"With growing pushback, central banks have modified their expectations. According to a 2023 Business of International Settlements survey, the number of central banks that are very likely to issue a retail or wholesale CBDC within three to six years has diminished significantly from the 2022 survey."

"The Atlantic Council maintains a CBDC tracker, which shows that 36 countries are in the pilot phase. Thirty are still in the development stage, and 44 are actively researching a central bank digital currency. Seventeen are inactive, while two have been canceled.

 What about the United States? The Federal Reserve insists that it is several years away from putting together a CBDC. Republican lawmakers have introduced legislation to put the kibosh on its creation. Former President Donald Trump and independent presidential candidate Robert F. Kennedy, Jr. pledge to ban the formation of a CBDC."

@ Newshounds News™

Read more:  Currency Insider

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Indian Expert Says BRICS, SCO May MERGE in Five Years

" BRICS (Brazil, Russia, India, China, South Africa) may merge with the Shanghai Cooperation Organization (SCO) within the next five years, giving birth to a stronger entity with a more meaningful role, Robinder Sachdev, president of the New Delhi-based analytical center, the Imagindia Institute, told TASS."

"Both BRICS and SCO are initially founded by China and Russia. Many big picture goals of both organizations are same. It is necessary for both organizations to have very different roadmap in future. Otherwise, I have said many times that it is now time to consider merging of the SCO and BRICS into a single organization."

""If the BRICS countries work together strongly on some common agenda then BRICS can have an important role. If BRICS becomes a strong organization, then it can play very important role in building the New World Matrix of the 21st century," he stressed.

"BRIC was established in 2006 by Brazil, Russia, India, and China. In 2011, South Africa joined the group, adding the S to the acronym."

"Set up in 2001 in Shanghai, the SCO initially included six countries, namely Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, and Uzbekistan. India and Pakistan joined in 2017. Iran was admitted to the organization at the SCO virtual summit in early July.

@ Newshounds News™

Read more:  TASS

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XRP News Today: Ripple-Led $1.5 Billion Token Flood to Hit Market in August

August is a major month for crypto token unlocks, with nearly $1.5 billion worth of tokens hitting the market.

Ripple leads the pack with a $609 million XRP unlock, followed by Avalanche and Wormhole.

Numerous other projects, including Sui, dYdX, ZetaChain, ImmutableX, Aptos, The Sandbox, Starknet, and Arbitrum.

XRP This morning $0.61 up 0.54%

@ Newshounds News™

Read more:  Coinpedia

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Swiss regulator FINMA targets stablecoin issuers in new proposal

As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions.

In a move aimed at bolstering regulatory oversight and mitigating financial risks, the Swiss Financial Market Supervisory Authority (FINMA) has proposed new guidelines for stablecoin issuers. The proposal comes amid growing concerns over the potential impact of stablecoins on regulated institutions and the broader financial ecosystem.

Stablecoins — digital assets linked to the value of traditional currencies or other assets — have experienced increased adoption. However, their rapid growth has also prompted global regulatory concerns due to potential illicit activity and misuse.

In its guidance issued on July 26, FINMA emphasized that stablecoin issuers must be subject to the same Anti-Money Laundering (AML) obligations as traditional financial institutions. This includes verifying the identity of stablecoin holders and establishing the identity of beneficial owners.

In addition to AML compliance, FINMA explained how stablecoin issuers can operate without a banking license if they meet certain conditions. It claims that these conditions ensure depositors are protected, and issuers must have a bank guarantee in case of default.

While FINMA claims its measures boost depositor protection, they do not match the security of a banking license. Still, the regulator is committed to mitigating default guarantee risks and ensuring stablecoin issuers meet robust standards to safeguard customers.

The stablecoin sector has experienced exponential expansion in recent times, reaching an unprecedented market capitalization in 2023. In response, global regulators are hastening to establish guidelines for this rapidly evolving sector.

According to the “PwC Global Crypto Regulation Report 2023,” at least 25 countries, including Switzerland, had implemented stablecoin regulations or legislation by the year’s end.

@ Newshounds News™

Read more:  Coin Telegraph

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Malaysia sends application to Russia to join BRICS — PM

Lavrov promised that as the BRICS president Russia will help Malaysia promote its interest to the partnership with the association

TOKYO, July 28. /TASS/. Malaysia has sent an application for BRICS membership to Russia, which is currently holding BRICS presidency, Malaysian Prime Minister Anwar Ibrahim said.

"Malaysia has sent a letter of application to join the (BRICS) organization to Russia as the BRICS chairman, besides expressing openness to participate as a member country or strategic partner," the BERNAMA news agency quoted him as saying.

Earlier on Sunday, Anwar Ibrahim met with visiting Russian Foreign Minister Sergey Lavrov. According to the Malaysian prime minister, the conversation focused on Malaysia’s application to join BRICS, which, in his words, will have a considerable potential for both sides.

Anwar and Lavrov also discussed "the current situation in Palestine, with Malaysia emphasizing the urgent need for a permanent ceasefire and rapid humanitarian aid in Gaza, as well as Palestine’s acceptance as a full member of the United Nations," the agency said. "Regarding Ukraine, Anwar also called for dialogue and discussion as the means to resolve the conflict."

Lavrov promised that as the BRICS president Russia will help Malaysia promote its interest to the partnership with the association.

@ Newshounds News™

Read more:  TASS

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A Former Fed Official Finally Tells The Truth About Inflation…

A Former Fed Official Finally Tells The Truth About Inflation…

Notes From The Field By James Hickman / Simon Black 7-29-24

My sister used to be a reporter for Fox News based in south Florida and would regularly be assigned to cover NASA press conferences.

And she’s often told me about how reporters were terrified to ask any real questions. They’re not astrophysicists and don’t understand the first thing about rocket propulsion, and most of the journalists never bothered to learn even the basics of the topic.

So, the majority of the questions were very superficial; quite simply the reporters didn’t want to embarrass themselves.

This is how the media covers the Federal Reserve. Most reporters don’t have a clue about central banking, so, not wanting to look stupid, they just sit quietly and give the Fed a pass. There’s no real scrutiny.

At the same time, Fed officials are generally in lockstep with one another; it’s not like politics where the two sides constantly chastise one another. With the Fed, there is virtually no public dissent.

Even former Fed officials who have long left the bank maintain an almost mafioso code of silence.

The end result is that no one really criticizes the Fed. And because of this, the Fed has been able to cultivate a reputation that they’re in total control of the situation… even though their track record proves the opposite.

The Fed completely failed to predict inflation in 2020 after engaging in record money printing. Then they missed the warning signs in early 2021, then misdiagnosed inflation as “transitory” in late 2021, then still failed to act until early 2022.

Yet despite such failures, the Fed is still sticking to the narrative that they know what they’re doing. And with hardly anyone challenging them, it’s been easy to maintain a veneer of omnipotence.

But Kevin Warsh broke ranks this weekend. As a former Fed governor, he is the ultimate insider… and he penned an editorial published in the Wall Street Journal on Saturday blasting many of the Fed’s decisions.

Warsh describes how, when he joined the central bank in 2006, its entire balance sheet was just $800 billion. But in order to deal with the 2008 financial shock (yet another crisis that the Fed missed), they invented “quantitative easing”, or QE.

QE was just a fancy way to say they were conjuring massive amounts of money out of thin air. Informally we could say they were ‘printing money’, though almost all of the new money was created in digital rather than paper form. They click a few buttons, and, poof, new money.

Naturally the Fed promised to eventually unwind QE and drain all of that new money out of the financial system. But they never did.

On the contrary, the Fed embarked on THREE distinct rounds of QE between 2008 and 2013, increasing the balance sheet each time. In the end, the Fed’s balance sheet peaked at $4.5 TRILLION, more than 5x its size prior to the 2008 crisis.

And they kept it at that level for years. Even by 2020, the Fed balance sheet was still around $4 trillion in size.

So much for unwinding. And when the pandemic hit, the Fed quickly pulled out its QE playbook and embarked on a fourth round of money printing… exploding the balance sheet all the way to NINE TRILLION dollars.

Warsh eviscerates the Fed policymakers for failing to see such obvious consequences and explains that there is a very clear connection between the size of the Fed’s balance sheet, i.e. the amount of money it prints, and inflation.

“The monetary base is up 60% since the pandemic. Another measure of money, M2, is up 36% in the past four years. The inflation surge in the same period-- cumulatively about 22%-- shouldn’t have been a surprise.”

“The high priests of central bank dogma might consider it blasphemy,” he writes, but “less money printing, less inflation.” Duh.

He goes on to say, “The American people are still paying a high price for the central bank’s policy error,” and that if the Fed really wants to tame inflation, they’re going to have to slash their balance sheet, i.e. unwind most of the new money that they printed.

Fat chance.

In fact, Warsh points out that the Fed has already indicated they will NOT reduce the size of their balance sheet any longer. And Peter and I both believe the Fed will soon embark on even more QE.

Why? Because the federal government has a serious spending problem. Even the government’s own budget forecasts show an additional $22 trillion in deficit spending over the next decade.

And where will the bulk of that money come from? Most likely from the Fed. They’ll launch QE5, QE6, and beyond, to print the trillions and trillions of dollars that the US government will need to make ends meet in the coming decade.

Sure, it’s possible that the government gets real… that they cut spending, eliminate some entitlements, slash regulations, abandon idiotic green initiatives, and stop standing in the way of conventional energy.

But the window of opportunity is extremely narrow… and depends on the election this year. Plus, a lot of things will have to go right, and very little can go wrong.

So, it’s reasonable to anticipate more deficit spending, which means more Fed printing. And more inflation.

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

https://www.schiffsovereign.com/trends/a-former-fed-official-finally-tells-the-truth-about-inflation-151193/

How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS

How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS

On July 28, 2024  By Awake-In-3D

Big Banksters increase their stranglehold on Iraq to block participation in the new gold-backed UNIT currency system.

The Banksters at the U.S. Federal Reserve have intensified their bullying tactics against Iraq.

In This Article

1. The U.S. Federal Reserve’s New Approach

2. Potential Impact on the Iraqi Banking System

3. The Federal Reserve’s Three Pillars of Strategy

4. Consequences for the Iraqi Government and Economy

This escalation seems driven by a clear motive: the FED will not stand idly by and allow Iraq to join the BRICS alliance or participate in the new gold-backed UNIT currency system.

This aggressive stance threatens Iraq’s financial stability and sovereignty, pushing the country towards an economic crisis.

The Iraqi government now faces a pivotal moment. It must rise to the challenge and stand up to the FED’s coercive measures to protect its economy and pursue its independent financial path.

The U.S. Federal Reserve has adopted a new, stricter policy toward Iraq, potentially creating an increase the dollar’s value against the dinar.

Economic researcher Ziad Al-Hashimi warns this shift will place significant pressure on Iraq’s banking system and economy.

Iraq officially expressed interest in joining BRICS in November 2023. The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during a meeting with representatives of the Iraqi community in Russia. Photo: PMO

The U.S. Federal Reserve’s New Approach

Al-Hashimi reveals that the U.S. Federal Reserve’s latest strategy aims to curb any attempts by Iraq to stabilize its economy without adhering to Federal regulations.

The move is seen as a response to Iraq’s potential alignment with the BRICS alliance and participation in the new gold-backed UNIT currency system.

The Banksters at the US Federal Reserve have escalated their tactics, not wanting Iraq to break free from their influence.

Potential Impact on the Iraqi Banking System

The new strategy involves continued sanctions on certain Iraqi banks, ensuring these institutions remain banned from dollar transactions.

The Iraqi Stock Exchange Building

This action threatens the stability of Iraq’s banking system, limiting its ability to function efficiently and putting additional strain on the national economy. The FED’s bullying tactics aim to prevent Iraq from gaining financial independence and participating in the BRICS alliance.

The Federal Reserve’s Three Pillars of Strategy

The Federal Reserve’s strategy consists of three main pillars:

• Continuation of Sanctions: Previous sanctions on specific banks will remain, indefinitely banning them from dollar trading.

• Closure of Non-compliant Banks: Banks violating federal regulations regarding money laundering and dollar smuggling will face closure.

• Exclusion of Government Intervention: The Iraqi government will be prevented from intervening in dollar-related matters, leaving this responsibility solely to the Central Bank of Iraq.

This strategy aims to tighten control over Iraq’s financial dealings and mitigate political influences from the Iraqi government.

The FED’s actions are a clear attempt to ensure Iraq does not join the BRICS alliance or adopt the gold-backed UNIT currency system.

Consequences for the Iraqi Government and Economy

The Federal Reserve’s new approach places the Central Bank of Iraq in a precarious position, as it struggles to balance internal pressures with the need to comply with U.S. regulations.

This situation will lead to increased demand for the dollar, causing a devaluation of the Iraqi dinar.

The Iraqi government faces a critical decision: to comply with the Federal Reserve’s stringent measures or to challenge these tactics and seek alternative alliances, such as joining the BRICS and adopting the gold-backed UNIT currency system.

It’s time for the Iraqi government to stand up to the FED and assert its financial independence.

The Bottom Line

The U.S. Federal Reserve’s intensified approach toward Iraq threatens to destabilize the country’s economy.

With significant implications for the Iraqi dinar and the banking system, the Iraqi government must navigate these challenges carefully. Whether to stand up to the Federal Reserve or find a way to comply will shape Iraq’s economic future.

The Banksters at the US Federal Reserve will not easily allow Iraq to join the BRICS alliance, but the Iraqi government must take a stand for its sovereignty and economic well-being.

Contributing Source: https://burathanews.com/arabic/economic/448951

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

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https://ai3d.blog/how-feds-new-bully-tactics-are-blocking-iraq-from-joining-brics/

“Tidbits From TNT” Monday 7-29-2024

TNT:

Tishwash:  Manipulating budget tables is a scandal waiting to break out

The issue of tampering with the budget schedules sparked great controversy in the House of Representatives, after approximately 2 trillion dinars from the budget were lost in a dramatic manner.

The General Secretariat of the Council of Ministers sent a letter to the House of Representatives to inquire about the manipulation occurring in the budget tables, as it was stated in the letter, “After examining the printed tables attached to the Parliament letter signed by the ( acting) Speaker of the House of Representatives, it was revealed that there are fundamental differences in them compared to the sent copy.” From the Council of Ministers and contrary to the text of the parliamentary decision.

Member of the Parliamentary Finance Committee, Representative Jamal Kujar, confirmed that the manipulation occurred after voting on the budget tables in Parliament. 

He pointed out in a press statement that it was not known who was the party that tampered with the schedules, calling for an investigation to be opened into the matter.

The House of Representatives held its twenty-seventh session, headed by Mr. Mohsen Al-Mandalawi, Acting Speaker of the House, today, Monday, and in the presence of 199 deputies. The House of Representatives voted last May 18 on the schedules of the federal general budget law.

It seems that suspicions of losing the amount revolve around the Finance Committee as well as the Presidency of the House of Representatives.

For its part, the Finance Committee in the House of Representatives vacated its space regarding the issue of tampering with the budget tables for the current year.

Deputy Chairman of the Parliamentary Finance Committee, Ahmed Mazhar, told Al-Ma'louma Agency, “The committee is far removed from the issue raised regarding tampering with the budget tables. It discussed the tables according to the CD sent by the government and then submitted it for a vote to the Presidency of the House of Representatives.” 

He added, "The government's raising of the issue of tampering with 2 trillion dinars in the budget tables, as it claims, is very surprising."

He explained, “If there is tampering with the budget tables, then the Presidency of the House of Representatives can be questioned.”

In order to clear its name, Parliamentary Finance formed an investigative committee on the matter, which aroused the ire of the Presidency of the Iraqi Council of Representatives.

For his part, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, expressed his surprise at the Parliament Presidency's objection to forming an investigative committee regarding the changes that occurred in the budget. 

Al-Kadhimi told Al-Maalouma Agency, “Forming an investigative committee is the prerogative of the Finance Committee, expressing his regret over the objection of the Presidency of Parliament to the formation of the committee that does not require approval.”

He added, "The Finance Committee is in the process of inquiring about the reason for the difference in the budget tables between the parliamentary version and the government version, noting that the committee asked the relevant authorities to reveal the manipulation of the numbers."

In addition, the representative of the State Support Bloc, Muhammad Al-Ziyadi, confirmed that signatures had been collected to include a paragraph discussing the government's claim that the versions of the budget tables were different after voting on them.

Al-Ziyadi told the Maalouma Agency, “The government sent a letter to the House of Representatives claiming that the schedules that were sent to it by Parliament after the House of Representatives voted on them differ from those schedules that it sent to Parliament.”

He added, "This book created a confused atmosphere between Parliament and the government, and parliamentary signatures were collected to include a paragraph to discuss the issue in order to determine the truth of the dispute between Parliament and the government regarding the schedules and who was the party behind it.  link

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Tishwash:  Iraq speeds up steps to join WTO

The Ministry of Trade has doubled its efforts to join Iraq to the World Trade Organization (WTO) after participating in a wide round of negotiations that pave the way for full membership. These efforts were met with widespread economic welcome, which sees that this approach will achieve a package of important achievements, foremost of which is enhancing development, building capacities, and opening the door wide to the use of the highest standards of governance, in addition to the most important factor represented by the wide openness of global markets to Iraq, the advancement of the private industrial sector, and the improvement of the local product.

According to the Minister of Trade, Athir Dawood Al-Ghariri, the recent negotiations for Iraq constitute “a qualitative event and a confirmation of what the government promised through its program to reform the economic situation, considering the private sector as an essential part and the backbone of the Iraqi economy,” indicating that “all countries are keen on Iraq’s return as a global economic player.”

In support of the recent negotiations conducted by Iraq, the Ministry of Trade also participated in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul, which witnessed, according to the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, discussing the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries’ accession to the organization, and how Iraq can benefit from these experiences in its process of accession. The importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed.

In the midst of this, the Prime Minister’s Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, believes that “in the midst of the 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 achieved in some financial services and improving the environment for foreign investment, 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 difficult-to-handle central rentier economy.”

In a statement to the Iraqi News Agency (INA), Minister Al-Ghariri expressed his “aspiration for the fourth round of negotiations to be held during the first quarter of next year,” stressing that “this acceleration means that the negotiations are proceeding with rapid steps towards Iraq’s accession to the World Trade Organization, considering that Iraq is an important economic bloc and all countries are keen for it to return as an economic player in a multilateral system.”

In addition to the economic gains that can be achieved by opening up to the global market, the economic researcher and consulting engineer, Imad Al-Muhammadawi, believes during his interview with “Al-Sabah” that “joining has many other advantages besides opening up to global markets, represented in “enhancing development, building capacities, and opening the door wide to using governance standards in all aspects of economic activities, in addition to the most important factor, which is opening global markets to the economies of the least developed countries or what are called Third World countries, not to mention improving the financial side of the participating countries in terms of reducing financial risks and removing obstacles facing the participating countries.”

Al-Muhammadi added that joining also constitutes a factor in reducing poverty, by creating opportunities for the unemployed through increasing economic activities and developing both the private and public sectors. 

The WTO aims to ensure that foreign companies, investors and governments enjoy stability and predictability, confidence that trade barriers should not be arbitrarily raised, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition, choice and low prices. link

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Tishwash:  MP: Washington is delaying the confirmation of the withdrawal clause from Iraq - Urgent

Member of Parliament, MP Rafiq Al-Salihi, confirmed today, Sunday (July 28, 2024), that Washington is procrastinating in determining the paragraph of withdrawal from Iraq, noting that the exit of US forces is necessary to achieve the integrity of national security.

Al-Salihi said in an interview with Baghdad Today, "An important part of achieving integration in the national security system of Iraq is the absence of American forces from its lands, which we see as playing a negative role in the security scene through repeated attacks."

He added, "Washington is delaying its discussions with Baghdad in determining the withdrawal paragraph through fixed timetables, and this matter reflects America's agenda in Iraq and its attempt to remain despite the popular rejection of all spectrums and the existence of a parliamentary decision in this direction."

Al-Salihi pointed out that "the security situation in Iraq is stable and it has large forces capable of warding off terrorist threats or any other attacks," stressing that "the situation necessitates the withdrawal of American forces from the country and any manipulation or procrastination by the administration in Washington is unacceptable and the Iraqis will not remain silent about that."

The debate over the US withdrawal from Iraq has flared up again in the past few weeks, coinciding with the return of strikes and targeting of bases housing US forces in Iraq and Syria, while the US Central Command had indicated a few days ago that ISIS activity recorded during the first half of this year indicates a doubling of the number of attacks compared to last year.   link

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Tishwash:  Finance and World Bank meet to conclude "fruitful" agreements that support Iraq's development path

An important meeting was held at the Ministry of Finance headquarters today, Monday, between the Minister of Finance, Taif Sami Mohammed, and a delegation from the World Bank, headed by the Regional Director of the Middle East Department, Jean-Christophe Carré, to discuss ways to enhance cooperation in the field of economic and social development .

The ministry said in a statement received by "Mil", "The meeting's axes focused in particular on supporting transportation, railway and infrastructure projects related to the development road linking Iraq and Turkey towards the European continent, in addition to financing the Social Fund for Development programs." 

She explained that "these projects seek to improve the quality of services for citizens, enhance economic growth, and provide new job opportunities. The expected benefits of these projects include developing the road and transportation network, in addition to supporting small and medium enterprises and reducing poverty and unemployment." 

According to the statement, the two sides expressed their "optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq."  

 From social media

Minister of Finance and World Bank discuss financing transportation and social development projects

Both sides expressed optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq   link

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Mot: .. You Goooo Girl!!!!  

Mot: . Funny how this seems to Pop again and again ...

News, Rumors and Opinions Monday AM 7-29-2024

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 Mon. 29 July 2024

Compiled Mon. 29 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Opinions/Rumors)

Sun. 28 July 2024 Wolverine: “It’s going to be an incredible week. It’s going to be an incredible week. Just have faith. It’s coming. Always believe. Never give up. It’s still coming this week. Venezuela is going to be free. It’s been living under a corrupt government. Even the Military has sold their souls because of money. Now they are united and going to be free.” … “I will be leaving and will not be putting out any more posts on Telegram. Can’t tell you what I’m doing but it’s very important. Please brace yourself and thank God for everything. You will not hear from me anymore. God bless you all.”

Thurs. 25 July 2024 Wolverine: “The gates are opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. Next week a huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members. Bondholders are getting paid, and more people are getting notified.”

Sat. 27 July 2024 Mike Bara: The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. Today, Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.

Fri. 26 July 2024: Six planes loaded with owners of Trust Accounts took off from Washington DC on Thurs. headed to Reno Nevada. Another Trust Account Holder flew into Reno from Zurich.

Thurs. 25 July 2024 MarkZ: “Rumor implies that Bond Holders  may have been paid. The currency side should go within 48 hours.”

Tues. 23 July 2024 The Re-inhabited Republic for These United States of America (allegedly) was funded out of funds of the Global Currency Reset.

Fri. 26 July BRICS Officially Announced the New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift

Sun. 28 July 2024: Masters of GCR/RV: A Deep Dive into Tiered Redemption, the Golden Age of QFS, and the Impact of Zimbabwe Dollar, Iraqi Dinar, Vietnamese Dong, Tier 4B, Tier 5, and NESARA GESARA Act – amg-news.com – American Media Group

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Global Financial Crisis:

Sun. 28 July 2024 It’s Over: Saudi Arabia Just Broke the US Dollar:
https://beforeitsnews.com/alternative/2024/07/its-over-saudi-arabia-just-broke-the-us-dollar-3817999.html

Read full post here:  https://dinarchronicles.com/2024/07/29/restored-republic-via-a-gcr-update-as-of-july-29-2024/

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

Frank26  Article:  "15 trillion dinars raises controversy in the budget"  PARLIAMENT TRIED TO ADD 15 TRILLION DINARS TO THE BUDGET SO THEY CAN STEAL IT... BUT SUDANI STOPPED IT!

Sandy Ingram   Iraq did not follow Kuwait's revalue path.  The Untied States pulled back on financial support for Iraq's revalue shortly after the invasion was over when they made the decision that were not in alignment with economic growth for Iraq.  It's been 20 years and the currency still has not been revalued...We are learning more about why including issues like the IMF will not support a currency adjustment until the county has more income streams outside the oil industry, implementing banking reform that ties into international banking standards and providing housing for the hundred of thousands of people who have been misplaced due to decades of war, not to mention...corruption.

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BREAKING NEWS; Results of US Iraq Summit Meeting This Week in Washington D.C.

Edu Matrix:  7-29-2024

BREAKING NEWS: The results of the US Iraq Summit Meeting This Week in Washington, D.C., The #iqd rate is up against the USD. Important Security Meeting results.

https://www.youtube.com/watch?v=c8IEF1HKmQQ

Breaking SWIFT: The Rise of mBridge in Global Financial Transactions.

Gopolitical  Trends:  7-28-2024

In recent years, the global financial landscape has been transforming, particularly in the realm of cross-border payments. Geopolitics, especially the use of the SWIFT system for enforcing economic sanctions, is a key driver behind this shift.

 SWIFT, a secure messaging network used by banks for financial transactions, has become a tool for geopolitical maneuvering.

Countries wary of potential sanctions are seeking alternatives, leading to the emergence of platforms like mBridge. Launched in mid-2024, mBridge is a collaborative CBDC project involving BIS and the central banks of China, Hong Kong, Thailand, and the UAE.

It aims to provide a more efficient and cost-effective alternative to SWIFT by using digital currencies for direct and near-instantaneous cross-border transactions.

This initiative reflects a strategic realignment in global financial infrastructure, enhancing financial resilience and economic sovereignty.

https://www.youtube.com/watch?v=fFHtUgQ3p6g

Seeds of Wisdom RV and Economic Updates Monday Morning 7-29-24

Good Morning Dinar Recaps,

Financial Stability Implications of Emerging Market CURRENCY DEVELOPMENTS

"A global soft landing remains the base case, as the July World Economic Outlook update showed. The forecast for economic growth in emerging markets has changed little, with projections edging up to 4.3 percent for both this year and next. Inflation in most major emerging markets is forecast to ease further and reach target ranges, allowing monetary policy to ease in the foreseeable future."

"And yet, emerging market currencies have declined by about 4 percent year-to-date, on net, against the US dollar, even after partially recovering in recent weeks. Latin American currencies have dropped 5 percent, while currencies in Asian emerging markets are lower by 4 percent.

Central and Eastern European and African currencies saw milder depreciations. It’s important to assess whether further declines could have adverse consequences for financial stability."

"A key determinant of exchange rates is the difference in interest rates between a given country and the United States—the benchmark in global capital markets.

At the beginning of this year, investors expected the Federal Reserve to cut interest rates significantly, which would widen or at least maintain the interest differentials with emerging markets.

With the US economy proving stronger than previously anticipated and inflation not yet reaching the Fed’s target, expectations for US interest rate cuts dissipated over the course of the year, and the US dollar appreciated. As a result, major emerging markets’ interest rate differentials vis-à-vis the US narrowed. "

CURRENCIES AND FINANCIAL STABILITY

"Orderly depreciation of a currency toward levels broadly in line with economic fundamentals—including interest rate differentials—can be constructive for an economy. 

More troubling are cases where there are abrupt selloffs, which can trigger financial instability. Sudden foreign capital outflows can severely affect asset prices and open up funding gaps. Financial institutions could see foreign exchange mismatches intensify and may be unable to rollover foreign currency (particularly US dollar) funding at reasonable costs"

@ Newshounds News™

Read more:  IMF
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US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

LOS ANGELES (AP) — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices.

Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday.

Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet.

Despite the pullback in sales, home prices climbed compared with a year earlier for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high with records going back to 1999.

Home prices rose even as sales slowed and the supply of properties on the market climbed to its highest level since May 2020.

That translates to a 4.1-month supply at the current sales pace. Traditionally, a 4- to 5-month supply is considered a balanced market between buyers and sellers.

While still below pre-pandemic levels, the recent increase in homes for sale suggests that, despite record-high home prices, the housing market may be tipping in favor of homebuyers.

@ Newshounds News™

Read more:  AP News

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Ripple Celebrates BRAZILIAN REAL STABLECOIN Integration On XRP LEDGER

"RippleX, the development arm of Ripple, has formally announced the integration of the BRLA Token, a stablecoin pegged to the Brazilian Real (BRL), on the XRP Ledger. This event signifies a crucial advancement for the XRP Ledger and its ecosystem, offering a new layer of stability and efficiency for cross-border and domestic transactions."

"“Designed to facilitate seamless and cost-effective transactions, BRLA Token offers businesses a reliable avenue for both domestic and international payments. The team has been exploring and testing the XRP Ledger extensively for payment processing, with much more excitement on the horizon,” RippleX stated in a blog post."

"BRLA Digital, spearheading this innovation, aims to disrupt the traditional financial sector in Brazil. Their creation, the BRLA Token, is crafted to simplify and economize business transactions, both internationally and within the country."

"RippleX’s enthusiasm about this collaboration is evident. In a statement shared on X (formerly Twitter), they remarked, “BRLA Digital’s commitment to evolving Brazil’s financial scene comes to fruition with the BRLA Token. This venture into stablecoins signifies a pivotal stride towards redefining business transactions in Brazil.”

"By anchoring the BRLA Token’s value to the Brazilian Real and backing it with audited reserves, we ensure a stable and reliable medium for transactions, shielding businesses from the whims of cryptocurrency volatility,” explains Ripple. This stability is crucial for businesses seeking consistency in their financial operations."

@ Newshounds News™

Read more:  Bitcoinist

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Judge Torres Considers Final Judgment in RIPPLE vs. SEC CASE

"Judge Analisa Torres is currently focusing on issuing a final ruling regarding penalties and injunctions in the Ripple vs. SEC lawsuit. Both parties can still appeal earlier decisions, adding layers of complexity to the legal proceedings. As the case draws closer to a verdict, the XRP community and legal experts are fervently anticipating a resolution, likely by August."

"The possibility of appeals looms large in this high-profile legal battle. Ripple has claimed several victories, making the SEC’s position appear increasingly tenuous. Legal analysts like Mickle suggest that despite these wins for Ripple, appeals are still on the table. Experts such as Fred Rispoli and James Murphy speculate that Judge Torres might expedite her final ruling, bypassing motions currently before Judge Sarah Netburn, potentially delivering a judgment as early as August."

@ Newshounds News™

Read More:  CoinTag
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ISO 20022 - The new language of payments

What is ISO 20022?
ISO 20022 is a flexible standard for financial messages that enables interoperability between financial institutions, market infrastructures and the Banks’ customers. All banks must be ready to support the new language/standard to continue processing payments and customers should also prepare for changes.

The ISO 20022 standard supports the inclusion of richer, better structured transaction data in payments messages, and aims to deliver a better customer experience by enabling less manual intervention, more accurate compliance processes, higher resilience, and improved fraud prevention measures.

Benefits and timeline
What are the benefits of ISO 20022?

ISO 20022 adoption will provide benefits to the entire payments ecosystem i.e. Banks, Market infrastructures and to the Banks customers:

▪️ Rich structured party data and increased field size will provide greater levels of transparency and create efficiencies by reducing delays caused due to unstructured, incomplete, or inconsistent data.

▪️ By adopting dedicated returns and investigation messages and using standardized return codes, the current delays in applying returned funds back to the customers and responding to inquiries from other Banks will be drastically reduced.

▪️ By maintaining dedicated reference fields that remain unaltered in the end to end payment journey and introducing structured remittance data, customer’s reconciliation capabilities will be augmented.

▪️ Greater message harmonisation across the entire payments industry, with a universal message type for all payments will help integrate with many more schemes on a faster basis.

What are the timelines for migrating to ISO 20022 standards in different markets?

ISO 20022 adoption will take place over multiple years. Payment Market infrastructures (PMIs) of all major currencies are either live or in the process of adopting ISO 20022 by November 2025 for cross border payments. SWIFT has published a roadmap to migrate the existing message type 1,2,& 9 series which began in March 2023. Adoption plans are still evolving in each market and further clarity will be provided over time.

Adoption by major Real Time Gross Settlement (RTGS) market infrastructures/currency is currently planned as follows:

                                                          
Impact, adoption and strategy

Which SWIFT messages are impacted by the ISO migration?
SWIFT plans to migrate all Customer and Inter-bank payments, as well as related advice and statement messages (the MT1xx, MT2xx and MT9xx series of messages).

What is HSBC’s plan to adopt ISO 20022?
HSBC is actively involved with SWIFT and the different market infrastructures that are migrating towards ISO. HSBC has successfully enabled its global network to receive and forward SWIFT CBPR+ messages in all of its 50+ locations and to exchange ISO messages in the newly migrated domestic markets.

We will align ourselves with the market requirements and delivery timelines set by different market infrastructures and ensure we are well placed to comply with the adoption strategies set forth by the market infrastructure.

What is HSBC’s strategy to align to SWIFT’s adoption of ISO for cross border payments?

HSBC’s adoption strategy will be driven by two different approaches:

--Markets with domestic migration announced
ISO enablement of SWIFT cross-border payments is prioritised with domestic ISO migrations in HSBC markets. This is targeted to enable ISO for both domestic and cross-border payments together for customers to choose to adopt in one go.

--Markets with no domestic migration announced
The approach is to complete SWIFT cross border traffic migration in all countries and be compliant by November 2025. If a market infrastructure announces a domestic scheme migration before 2025, our current migration strategies are flexible enough to adapt accordingly.

What are the common adoption strategies?

The common adoption strategies are:
▪️ ‘Like for like’, where the message format will be replaced from MT to ISO 20022 XML format that has comparable elements and character lengths to the existing SWIFT MT messages.
▪️ ‘Full/enhanced ISO’, where additional and enhanced existing elements are available. In order to ensure consistent usage and inter-operability, guidelines are defined by the industry.

Market practice guidelines

What are the current market practice guidelines being followed by the industry for ISO adoption?

Two guidelines are available for the payment market infrastructures:

▪️ High Value Payments Plus (HVPS+) market practice guidelines followed by certain Market infrastructures

▪️ Cross Border Payments and Reporting plus (CBPR+) guidelines. The CBPR+ group are experts nominated from the SWIFT community tasked with developing usage guidelines for ISO implementation by Banks for SWIFT cross-border payments.

While HVPS+ and CBPR+ are almost fully aligned with a few minor differences, HSBC will provide updates to the possible impacts they may have on our customers in the respective markets.

HOW TO PREPARE FOR ISO 20022

Readiness Handbooks
We have created readiness handbooks to support our customers through the transition to ISO 20022, highlighting the significant changes this will bring across the payments industry, how and why these changes will happen, and the benefits they can bring.

What should banks* be considering?
* Also includes NBFIs sending instruction via SWIFT

As published in SWIFT’s connectivity guidance document it is mandatory that all Banks are required to upgrade their messaging interface to support InterAct (store-and-forward) by 20 March 2023.

Institutions can also define the channel and format preferences for the transactions they receive through SWIFTs Transaction Manager (TM) platform. SWIFTs TM platform will ensure interoperability between users of different data formats and connectivity channels.

Here are some further considerations that banks should be looking at:

Industry Testing: Get ready to participate in industry testing as mandated by market infrastructures and SWIFT. If you use another bank for clearing, please reach out to that bank

Process & Systems: Have processes and systems geared up to fulfil your Sanctions and AML controls based on new party fields in the chain
Archive Data: Ensure that you are able to archive the rich ISO payments data as per your country regulations

Data Availability: Create solutions to make enriched data available to your customers

Structured Data: Start preparing to provide structured Name and address information for your customers(Debtors)

Training: Training and awareness of internal staff on the new language

For banks* sending Payments to:

▪️ Clearing/SWIFT

--Clearing: Be ready to accept and align with the clearing market infrastructure based on their timelines

--your Currency Provider
▪️ Have conversations with your Currency Provider
▪️ Agree the roadmap/migration timelines and expectations on message formats

For banks* receiving Payments from:

▪️ Clearing/SWIFT

--Clearing: Be ready to accept and align with the clearing market infrastructure based on their timelines

--your Currency Provider
If you use non-SWIFT based channels have a discussion with your provider
* Also includes NBFIs sending instruction via SWIFT

What should Corporate customers be preparing for?

We recommend our Corporate customers understand the potential of XML for your business and make the most of the opportunity.

Here are some considerations for Corporate customers:

▪️ Preparing for the future: A few market infrastructures already mandate corporates to provide XML as a standard while communicating to their Banks. With the increased adoption of ISO 20022 as a standard by SWIFT and major market infrastructures worldwide it is possible that more market infrastructures may recommend ISO as a messaging standard for communicating. Considering this in your technology plans will support preparation for these requirements from market infrastructures in the future.

▪️ Structured Data requirements: Market infrastructures and Clearing schemes have introduced new data requirements for party information. These include fields like creditor, ultimate debtor, initiating party, and ultimate creditor that will require corporates to provide to the bank in a structured or hybrid manner. HSBC will soon be providing communications on the required changes.

We strongly recommend you start looking at the data that is provided to HSBC and work closely with your Enterprise Resource Planning (ERP) and Treasury Management System (TMS) providers to start making required updates to comply to the new industry requirements.

▪️ Capitalising on rich standards: ISO offers multiple benefits that will help streamline end to end processing. Early adoption will allow you to capitalise on the information that is supported in remittance information and enhanced end to end references, which will be available through ISO based cash management(camt) statements/advises.

What you can expect from us
HSBC is eager to work with our clients to assist in their migration to ISO 20022. HSBC has been a strong advocate for XML and a key driver in the evolution of the ISO 20022 XML standard. Customers will be able to leverage the experience we have gained from previous implementations.

As market infrastructures finalize specifications, our team of experts will reach out to you and provide the details of changes to our existing offerings, and information on any new value added services that we will be able to offer leveraging the richer data elements that ISO 20022 offers.

Listen to our latest podcast – ISO 20022: The new language of payments

PODCAST

ISO 20022 will enable richer and more detailed data to be included in payment messages, along with a host of other benefits, resulting in a better customer experience. In this episode, Mark Avery, Senior Product Manager, HSBC, and Umut Uysal, Senior Global Product Manager, HSBC, discuss what you need to know about this exciting innovation in banking.

@ Newshounds News™

Read more:  CBM HSBC

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BRICS Officially Announces Financial System Similar to SWIFT| What's Next?

BRICS Officially Announces Financial System Similar to SWIFT| What's Next?

We love Africa:  7-28-2024

Gone are the days when Brics had to secretly carry out its plan of de-dollarization and launching a new currency and a financial system.

Until now, Brics never confessed to developing a financial system that will replace SWIFT. However, secrecy is no longer the plan of action. Brics and its members have now openly announced that they are launching a financial system similar to SWIFT, a Western-controlled banking system.

The BRICS alliance is looking to bypass the Western SWIFT system and replace it with its own financial mechanism. The creation of a new financial messaging system similar to SWIFT will allow BRICS to reshape the global trade landscape.

 The majority of cross-border transactions are now settled using SWIFT and cutting ties with the system provides leverage to the nine-member alliance.

BRICS can create a new payment system without incorporating the US dollar for transactions. Local currencies will be used for trade settlements ending reliance on the US dollar once and for all.

 The BRICS payment system similar to SWIFT can break the global dominance of the US dollar. Russia confirmed that the BRICS alliance plans to build a new payment system similar to SWIFT. “The financial agenda of BRICS has a main initiative for building a new economic reality that solves both major tasks.

Creating our own financial messaging system for the BRICS countries, similar to SWIFT, based on state-owned banks capable of clearing settlements of counterparties from the BRICS countries and the related role of the same bank,” said Deputy Chairman of the Russian State Duma Alexander Babakov.

The ambassador said that creating an alternative to SWIFT is necessary for BRICS to push the de-dollarization agenda ahead. “It is necessary to create a new system of financial institutions.

The new system must be technically compatible with the existing financial infrastructures of the participating countries, which includes integration with national payment systems, banks, and other financial institutions.

 At the same time, the system must ensure a high level of security and data protection to prevent cyber-attacks and unauthorized access to financial information,” he summed it up.

https://www.youtube.com/watch?v=9oGEvqMOoyw

More News, Rumors and Opinions Sunday Afternoon 7-28-2024

TNT:

Tishwash:  Parliamentary Committee Expects Oil and Gas Law to Be Approved Soon: Delayed Because It Is a Political Pressure Card

The Parliamentary Oil and Gas Committee expressed its “optimism” on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.

Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.” 

But Al-Shabli expected that “the most serious government in this file is Al-Sudani’s government,” noting that “clear committees have been formed between Baghdad and the Kurdistan Regional Government, but so far the government has not sent the final version to the House of Representatives or the Oil Committee.”

Al-Shabli expressed the Oil Committee’s hope that “the relevant committees will resolve the issue and send it to Parliament, given the benefits of the law in regulating oil exports and stopping smuggling or selling oil outside SOMO,” believing that “this issue will be resolved in the coming days.”

He stressed that "the delay of the law came because it is a political card, especially since the region wants the law and considers it to be in its interest, in addition to the fact that it has old obligations and contracts with foreign companies, in addition to the continuation of smuggling."

About a year has passed since the formation of the committee to draft the oil and gas law, after a 19-year delay in the law that regulates the relationship between Baghdad and Erbil with regard to the management of oil in Kurdistan and the rest of the provinces,” while the law is considered one of the most important laws that have been suspended for years, amounting to more than 150 laws.   link

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Tishwash:  Iraq stores gold and expects it to rise in the next two months

 Economic expert, Abdul Rahman Al-Shaikhli, expects Iraq’s gold reserves to rise over the next two months.

Al-Mashhadani told {Euphrates News} that: "Owning gold is considered part of the investment portfolio that countries seek, and Iraq has been storing gold and increasing its reserves for many years, especially with expectations of its rise during the next two months, and this means that the rise in gold prices is continuing and is part of the countries' investments."

He explained that "maintaining dollar reserves or investing in treasury bonds does not achieve profits commensurate with the size of the profits achieved from the increase in gold prices, although Iraq increased its reserves by two and a half tons of gold."

Al-Mashhadani pointed out that "these are not large numbers that enhance citizen confidence and diversify investments, and this is the policy of a group of countries and banks, not just Iraq."

Data from the International Monetary Fund showed an increase in gold reserves in Iraq and Qatar.
The data indicated that Iraq increased its gold holdings by 2,644 tons to 148,305 tons in May 2024.
The data showed that Qatar raised its gold stock by 3,112 tons to 106,423 tons in June 2024, according to Reuters.  link

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

Jeff   Iraq is talking out of both sides of their mouth.  From one side they're saying, nope we have no intention of revaluing.  On the other side they're saying, heck yeah we have full intentions of revaluing...

Mnt Goat   ...the Project to Delete the Zeros and the Dr Shabibi plan... was developed by the CBI and the IMF...It is a sound plan and they told they will execute it “when the conditions are right”...the three zero notes are not being obsoleted after the deadline in Iraq is over to turn them in...These notes will be used for “interbanking of international transactions” ...where large sums of cash must be transferred...The CBI told us this many times in articles...the CBI did tell us there will “probably” be at least a 10 year use of these notes by the banks for this purpose. Yes, eventually these notes will become obsoleted but we will be way out of this and exchanged by then.

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The Fed Loses $100 Billion A Year; What Happens When Central Bank Goes 'Bankrupt'? | Steve Hanke

David Lin:  7-28-2024

Steve Hanke, Professor of Applied Economics, analyzes the latest inflation data, and discusses the Fed's financials, and banks' operational risks.

0:00 - Intro

1:20 - U.S.inflation

 5:10 - Fed's actual loss

8:51 - Global inflation

17:46 - "America is going bankrupt"

43:00 - Banks' operational risks

https://www.youtube.com/watch?v=4swYrLQ5bQE

Hungary Dumps G7 Banks For Record China Loan, Beijing Subsidy Tsunami To Crush EU Punishments

Sean Foo:  7-28-2024

In a shocking move, Hungary quietly takes a record billion Euro loan instead of using a G7 bank.

China is more than happy to issue the money, allowing them to effectively use their trade surplus to fund both economic and geopolitical objectives.

Meanwhile, the EU is afraid of Chinese companies building EVs in Europe itself, powered by government subsidies.

Timestamps & Chapters:

0:00 G7 Banks Dumped For China Loan

2:40 China Is Buying Supply Chains

5:42 Panic Over China EV Factories In Europe

 8:41 China Unleashes Domestic Subsidy

11:40 This Is A Global Subsidy War

https://www.youtube.com/watch?v=eQcTkt6WEOw

Economist’s “News and Views” Sunday 7-28-2024

Our Government Is Hiding That Banks Are On The Verge Of Failure

Atlantis Report:  7-27-2024

In today's financially uncertain times, the role of regulatory bodies in ensuring the stability of our banking system is more important than ever.

The Federal Reserve, charged with this significant responsibility, conducts annual stress tests on major banks to assess their ability to withstand economic downturns.

These tests are specifically designed to mimic adverse scenarios and assess the resilience of financial institutions.

However, recent events have raised doubts about the effectiveness and transparency of these evaluations. Despite reassurances from the Fed, the collapse of several banks revealed weaknesses in the system that were meant to be protected against.

 This discrepancy between the results of stress tests and real-world outcomes has raised increasing concerns about the actual state of our banking sector.

https://www.youtube.com/watch?v=svUNM522SKM

Banks Know a Crash Is Coming, Most Powerful Indicator Is Signaling U.S. Recession – George Gammon

Kitco News:  7-27-2024

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews George Gammon, an investor, macroeconomics expert, and host of The Rebel Capitalist Show. Gammon warns that the world’s most powerful economic indicator is signaling a recession.

He adds that the banking crisis is far from over, noting that we are just in “the middle innings.” Gammon shares his insights on the latest macro data & the Federal Reserve.

He also outlines his own economic outlook, giving a glimpse into what he is doing with his own portfolio, weighing in on Treasuries, gold, silver, and Bitcoin.

https://www.youtube.com/watch?v=22-X8HOdHj8

The Western Empire is in Its Final Days: "History is Repeating" | Martin Armstrong

Living your greatness:  7-28-2024

Armstrong draws striking parallels between today’s global crises and the ominous signs before the fall of the Roman Empire.

He warns that relentless debt, profit-driven wars, unchecked migration, and rampant corruption are priming Western nations for potential collapse.

 He argues that precious metals and commodities could be the ultimate safe haven for investors amidst this turmoil.

https://www.youtube.com/watch?v=sIGr2Jk_hbQ

Seeds of Wisdom RV and Economic Updates Sunday Morning 7-28-24

Good Morning Dinar Recaps,

BRICS PROPOSAL TO LINK ALL MEMBER COUNTRY'S PAYMENT SYSTEMS

"The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial settlements."

"Russian Deputy Foreign Minister Andrey Rudenko revealed in an interview with TASS this week. He noted Tehran’s suggestion to integrate the payment systems of BRICS countries, similar to the integration of Russia’s Mir and Iran’s Shetab electronic banking and automated payment systems."

"Rudenko emphasized that establishing a clearance and payment infrastructure independent and resilient to sanctions would significantly enhance the financial sovereignty of BRICS. However, Iran’s initiative remains under discussion, and it is premature to define any final parameters, the Russian diplomat clarified."

"This integration seeks to facilitate trade using national currencies, thereby reducing reliance on the U.S. dollar and countering U.S. sanctions. A monetary contract signed on July 6 allows the use of local currencies in trade, enhancing financial cooperation, economic resilience, and reducing dependence on Western financial systems."

@ Newshounds News™

Read more:  Bitcoin News

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Donald Trump 2024 Bitcoin Conference Speech Recap:

• On day one I will fire Gary Gensler and appoint a new SEC chairman.

• Create a US Government strategic national Bitcoin stockpile if elected.

• US Government will keep 100% of Bitcoin it owns

• Bitcoin is going to the moon.

• Never sell your Bitcoin

• Bitcoin will one day probably surpass the market cap of Gold.

• I reaffirm my pledge to commute Ross Ulbricht's sentence.

• There will never be a CBDC while I am President of the United States.

• Bitcoin and crypto will skyrocket like never before if elected president.

• Bitcoin is not threatening the dollar, the current U.S. government is threatening the dollar.

• The United States will be the crypto capital of the planet and the Bitcoin superpower of the world.

• Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.

• I pledge to the Bitcoin community that the day I take oath of Office, Joe Biden and Kamala Harris' anti-crypto crusade will be over.

@ Newshounds News™

Read more:  Watcher Guru

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BRICS Poised to Dominate World Bank and IMF

"The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global system."

"BRICS, an acronym for Brazil, Russia, India, China, and South Africa, represents a coalition of major emerging economies. Earlier this year, the group expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE), broadening its geopolitical and economic influence."

"The World Bank Executive Director concluded by stressing the importance of Russia’s involvement in this shift. “Russia’s voice is important here, and it would be irrational not to use those possibilities, particularly now as we observe a new world order emerging,” he stated, underscoring the necessity of adapting to the evolving global landscape."

@ Newshounds News™

Read more:  Bitcoin News

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United States Senator Roger Marshall has overturned his support for the Digital Asset Anti-Money Laundering Act (DAAMLA) Bill, a legislation introduced by Democratic Party Elizabeth Warren.

"Marshall’s move to back down from the bill indicates the growing concerns about the possible overreach of regulatory actions regarding the emerging crypto market."

"The Digital Asset Anti-Money Laundering Act (DAAMLA) Bill was first introduced in December 2022 by Elizabeth Warren and co-sponsor by Roger Marshall and later reintroduced into the Senate in July 2023 to target unlawful use of crypto assets.

At the time, Warren maintained that large amounts of illegal funds were being laundered by rogue nations, oligarchs, drug lords, and human traffickers through the use of digital currencies such as Bitcoin, prompting her to move toward introducing the bill.

The legislation aimed to incorporate the cryptocurrency sector into the current frameworks for counterterrorism financing and anti-money laundering (AML)."

"Since its introduction, the law has received criticism from major figures and institutions in the industry."

"This positive development comes a few months following the Blockchain Association, a trade group representing the crypto industry in Washington D.C., efforts to debunk the DAAMLA bill. Specifically, the Blockchain Association sent out a letter in February, which marks the second time, to the House Financial Services Committee and Senate Banking Committee expressing serious concerns about the measure."

"About 80 US military, national security, and intelligence officers signed the letter. According to the Association, the law jeopardizes the strategic advantage of the US, threatening tens of thousands of employment while having minimal impact on illegal actors it targets."

@ Newshounds News™

Read more:  Bitcoinist

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Thank you Dinar Recaps

News, Rumors and Opinions Sunday AM 7-28-2024

Note From Dinar Recaps:

To our newest readers,

If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.

We hope all of our dreams come true very soon.

Your Dinar Recaps Team

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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. 28 July 2024

Compiled Sun. 28 July 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Sat. 27 July 2024 Wolverine: Everything is coming this coming week. Please brace yourself and thank God for everything. I’ll be leaving in a few days and you will not hear from me anymore. God bless you all. Thurs. 25 July 2024 Wolverine: “The gates are opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. Next week a huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members. Bondholders are getting paid, and more people are getting notified.”

Sat. 27 July 2024 Mike Bara: The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. Today, Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.

Fri. 26 July 2024: Six planes loaded with owners of Trust Accounts took off from Washington DC on Thurs. headed to Reno Nevada. Another Trust Account Holder flew into Reno from Zurich.

Thurs. 25 July 2024 Ginger’s Liberty Lounge: “A dear friend who is connected with plans in Zurich was just informed that they acquired a new Paymaster and to watch for their invitation email (for their group) later today.”

On Tues. 23 July 2024 the Re-inhabited Republic for These United States of America was funded.

Fri. 26 July BRICS Officially Announces New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift

Fri. 26 July 2024: BOOOM!!! The Revolution is Here: GCR – GESARA – QFS Intel! No More Corrupt System – The Great Reset: GESARA vs. the New World Order! – amg-news.com – American Media Group

Vladimir Putin praises digital ruble, calls for CBDC’s widespread use in Russia. https://www.newstarget.com/2024-07-26-vladimir-putin-praise-digital-ruble-widespread-use.html

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Global Financial Crisis:

ALERT: The Federal Reserve has been hacked and over 33TB of Data is now missing.

Sat. 27 July 2024: US Federal Reserve Hits $1 Trillion Dollars in Unrealized Losses. US national debt interest payments will surpass $1.14 trillion this year. That would constitute more than 76% of all collected income tax. The increasing and unsustainable debt concerns only depreciate confidence in the US dollar. Moreover, it creates higher rates of inflation and erosion in the currency. Altogether, the ongoing debt issue only erodes the greenback if left unchecked. Where that becomes an even greater issue is when you factor in the opposition that the dollar is facing. When the private company that prints every fiat dollar in the world hits this level of losses, it should tell you a lot about where we are in the takedown operation. November’s presidential election must see the beginning of a change.

Sat. 27 July 2024 Ziad Al Hashimi Iraq: US Federal Reserve to permanently close five Iraqi banks. There is a preliminary agreement between the US Federal Reserve and the Central Bank of Iraq to merge smaller banks and create a larger banking entity

Read full post here:  https://dinarchronicles.com/2024/07/28/restored-republic-via-a-gcr-update-as-of-july-28-2024/

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

Militia Man  Iraq's got a massive amount of dollar reserves/foreign reserves.  They've increased their gold supply...That suggests they're in good shape.   They've got some security and...stability.  I think everybody's starting to realize security and stability has been a big focus...It is coming to that stage where we're going to see more resulting in a far bigger way.

Frank26  The HCL is the...mechanism the bad guys in Iraq are using to delay the monetary reform.  They used the budget but they got caught on that.  They changed the numbers.  

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Disappointed in IQD Investment Here's What to Do

Edu Matrix:  7-28-2024

Are you disappointed in the Timeframe of the IQD Revalue? We all are, but here's what to do!

https://www.youtube.com/watch?v=9SqwA32IcsA