More News, Rumors and Opinions Friday Afternoon 8-2-2024

Ariel Friday Update:

800 stocks down by 5%? This is a prime indicator that once things pop off with Iran & Israel we will get a market correction like we have never seen.

Then as the WTO stated the world will anticipate Iraq to come to the rescue and bring confidence back to the global trade market by reinstating the Iraqi Dinar and everything from that point will be based on REAL VALUE.

Then this is when you will unprecedented liquidity.

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Mike Bara UPDATE:

Here is the situation as I understand it, Friday morning 8/2/2024.

"They" are still processing German historic bonds. They are finding many fakes. They have a quota to meet for "real" authentic German bonds before they can move onto the Chinese (Dragon) bonds.

"They" (UST) expect that threshold to be reached sometime this weekend. Once "They" move to Dragon bond payouts, that's when the "bondholder" should receive his commission.

That's when we're on, because my understanding is that is the "end" of Tier 3 and Tier 4a. None of this is connected to the revaluation of the Iraqi Dinar, which could still happen anytime.

 UST is said to want that to happen imminently. The Cabal is broke and needs the influx of funds from Tier 4 to continue the war.

 But the reality is the war is all but over. I suggest you think of this terms of World War II. It's late 1944. The Battle of the Bulge (Trump assassination attempt) has just failed. The Germans have been driven back to the Rhine, and it's only a matter of time before Patton gets across and finishes the job.

TNT Tony's 48-hour window has passed. Let's see if he has any new or corroborating information on his call today. That's where we're at. At least as far as I can tell. — Mike

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

Mnt Goat    ...recent articles from Iraq tells us the Iraqi government is taking steps to correct...issues and what needed reforms are still necessary... The nature of the reforms tells us they would have to be already started...Don’t think this is going to be a long, long process but certainly not days, maybe more like months...We must not discount all the reforms already accomplished...the Feds are now stepping in and trying to move the country steps further. Yes, they are shaking it up...So, this is all VERY good news and we should be happy to see it playing out...Everything is going to come together and it will happen suddenly.

Militia Man  Article quote "Imminent opening of the bank's new building"  Imminent opening of the central banks' building.  It's scheduled for the end of this year, which is a few months, or the beginning of next year, which is  still not too far from a few months... Quote "...38 floors with offices, meeting rooms, storage places of fortified money and  gold."  I love that part... Quote "The opening of the central bank building will be accompanied by a very large ceremony..."  It's  going to a pretty big deal...Construction...started in 2018.  It's been almost 6 six years.  

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TNT:

Tishwash:  Iraq Arrests Another Suspect Involved in ‘Heist of the Century’

The Iraqi Integrity Commission has announced the arrest of a suspect linked to the "heist of the century," with gratitude extended to the Kurdistan Region's Ministry of Interior for their assistance in arresting the individual.

Without disclosing the suspect's name, the commission confirmed the arrest of a key figure in the high-profile theft case, praising the collaborative efforts of both the federal government's Interior Ministry and the Kurdistan Regional Government (KRG).

Four additional defendants, already suspended by the High Criminal Court, were part of the former government of Prime Minister Mustafa al-Kadhimi and are implicated in the case.

According to Iraqi officials, the charges against these individuals stem from their involvement in extracting approximately $2.5 billion in cash from the General Tax Authority. This sum, lost between September 2021 and August 2022, represents a significant amount of money in a country that consistently ranks among the world's most corrupt.

The "theft of the century" has been described as the disappearance of $2.5 billion in tax revenue, shedding light on the extent of corruption within Iraq's financial systems.  link

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Jim Willie: How BRICS Are Approaching The Silver Market

Arcadia Economics:  8-1-2024

As the BRICS move forward their efforts to de-dollarize away from US financial infrastructure, where does that leave the silver market?

 Especially in an environment where the industrial demand continues to grow and leave the silver market in a persistent deficit?

Fortunately Dr. Jim Willie checks in to talk about what he's seeing and hearing in the silver market, including speculation of a South American OPEC-like silver cartel.

 It's an interview with Jim Willie that you won't want to miss. So click to watch the video now!

https://www.youtube.com/watch?v=4yumZ1liuhw

WARNING: (Take Action Now). THE MOST DESTRUCTIVE BANKING CRISIS EVER IS NOT FAR OFF.

Greg Mannarino:  8-2-2024

https://www.youtube.com/watch?v=W8WVFTXKExo

News, Rumors and Opinions Friday AM 8-2-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 2 Aug. 2024

Compiled Fri. 2 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: The Petro Dollar recently became officially defunct as China, Russia, India and the Middle East abandoned the fiat US Dollar, refusing to sell oil to the US.

The creation of the Federal Reserve in 1913, in tandem with the development of the tax-exempt foundation and the creation of the IRS, set the stage for a 20th century defined by elite control of lower-class labor. 

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Thurs. 1 Aug. 2024 Mr. Pool on Telegram: The Alliance Plan

NESARA/GESARA Debt Relief Implementation

The Military will provide the masses with the food they need.

QFS implemented

There will be a 95% reduction in government structure

The Federal Reserve is officially dead.

The IRS is under new US Treasury Department with a new tax system where only a 14% tax is charged on new items, no taxes on food or medicine, salaries, used houses or cars, etc.

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Global Currency Reset:

Thurs. 1 Aug. 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

Last night Wed. 31 July there was a celebration dinner in Reno with bank and intake managers

Several confirmations pointed to this going by notifications tomorrow Fri. 2 Aug. after Markets closed and/ or Saturday 3 Aug.

Appointments could happen Fri., Sat or Sunday 4 Aug.

Redemption Centers will be open on Sunday 4 Aug.

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Thurs. 1 Aug. 2024 Wolverine: “Sources say that Reno has started and were paying out 1% to certain platforms. The Precatorious Platform has been released. Hopefully we will be celebrating tomorrow Fri. 2 Aug. 2024.”

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Global Financial Crisis:

Thurs. 1 Aug. 2024 Argentina: Where Did Argentina’s Gold Go? Argentina is facing a small problem. Somewhere, 62 tons of gold worth $4.5 billion, the country’s entire gold reserve, have gone missing. The government reluctantly disclosed that the Argentine gold was loaded onto British Airways charters and sent to London. The erratic president Javier Milei, before entering politics, worked at the British bank HSBC. Remember how in November 2023 all of Argentina celebrated Milei’s victory?

Five months before his assassination, President John F. Kennedy issued this executive order that would give the American currency back to the people by printing money based on a silver standard, taking away the power of the Federal Reserve Banking Cartel. Many argue this is the reason that JFK was assassinated.

Deep State Cabal CBDC non-asset backed digital currency financial system: “There will be control.” European Central Bank president, Christine Lagarde, admits the EU’s new CBDC—the digital euro—will be used to exert control. EU citizens already face imprisonment or fines for participating in cash transactions above €1000, but the introduction of the digital euro will enable financial totalitarianism on a scale that would make even George Orwell wince.

Read full post here:  https://dinarchronicles.com/2024/08/02/restored-republic-via-a-gcr-update-as-of-august-2-2024/

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

Jeff   They haven't implement their budget yet because they're waiting for the rate to change.  Everything in Iraq...the budget, the laws, the overturning the budget, everything out there is being stalled and delayed to be timed with the rate change.

Walkingstick   [Iraqi bank friend Aki update]  AKI:  I got a phone call...Monday and the phone call is telling me to do something...Sudani and his staff/administration along with the CBI, they are reaching out to ex-patriots of Iraq...that left Iraq back in 2003.  We're dealing with teachers, scientists, bankers, economists, doctors...In 2003 when Saddam ...caused these brilliant people...of Iraq to leave...This was called the brain drain.  The brain drain effect will now be replaced because of what Sudani is doing with these ex-patriots.  [Post 1 of 2....stay tuned]

Walkingstick   He is painting a bright picture to all that left Iraq to come back.  He is explaining to them you will be receiving new lower notes, new currency...a new value that will give you purchasing power...Your businesses, investments in our country are now well protected.  Sudani tells the ex-patriots around the world you can now make a living in Iraq...Sudani is calling them home. He's reaching out to them through the internet...He's really doing it by word-of-mouth.  News travels at a faster pace from person to person... WALKINGSTICK:  Sudani is calling his people back and then he doesn't do the monetary reform?  No.  Not likely!  [Post 2 of 2]

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'Slow Motion Fiscal Crisis' As U.S. Debt Hits Record $35 Trillion | Lyn Alden

David Lin:  8-1-2024

Lyn Alden, Founder of Lyn Alden Investment Strategy, discusses the U.S. fiscal situation, monetary policy update, and asset allocation for the remainder of 2024.

0:00 – Intro

1:00 - Labor market

 3:28 - Fed rate cut

13:13 - Sovereign debt crisis?

15:39 - Bond market

18:20 - Small-cap rotation

 20:05 - AI investment themes

24:47 - Copper

27:00 – Bitcoin

 30:30 – Liquidity

 33:58 - $35 trillion in debt

40:09 - Federal interest payment

43:00 - China's holdings of U.S. Treasuries

46:20 - Yen and BoJ

48:36 - Housing market

https://www.youtube.com/watch?v=VX3iBRyf14M

“Tidbits From TNT” Friday Morning 8-2-2024

TNT:

Tishwash:  Pentagon: Within 72 hours, Iran and its allies will launch a large-scale attack on Israel

CNN, citing the Pentagon, reported on Thursday that Iran and its allies will launch a large-scale attack on Israel within the next 72 hours.

Senior American officials say they expect the upcoming Iranian attack to be very similar to the Iranian attack last April 13 - but on a larger scale - because it is likely to also include the intervention of Lebanese Hezbollah, which did not participate in the previous attack.

Senior officials in President Joe Biden's administration fear that since the context this time is the assassination of a Hamas leader in Tehran and not an Iranian general in Damascus, it may be difficult for them to mobilize the same international and regional coalition of countries that stopped the previous Iranian attack.

Last Wednesday, US intelligence services began receiving clear indications that Iran will respond, according to an American official.

Iran had held an emergency meeting of the Supreme National Security Council following the assassination of Haniyeh in Tehran, accusing Israel of the assassination and threatening a harsh response. This coincided with the assassination of Hezbollah leader Fouad Shukr in an Israeli raid hours before Haniyeh's assassination.  link

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Investment reveals the location of the first economic city in Iraq

The National Investment Commission revealed, today, Friday, the location of the first economic city in Iraq, while indicating that economic cities represent investment portfolios capable of attracting and bringing in local and foreign capital.

Hanan Jassim, spokeswoman for the National Investment Commission, told the Iraqi News Agency (INA): "The head of the National Investment Commission, Haider Mohammed Makiya, during his meeting in the presence of committee members and representatives of the ministries and relevant sectoral bodies in Maysan Governorate

Called for the importance of intensifying efforts and coordinating them in a detailed and precise manner that contributes to creating a realistic vision and a successful announcement for investors, businessmen and companies wishing to undertake this type of investment."

She added that "the attendees were informed of the full borders of the regions distributed according to the projects to be established and the ownership of the lands with the possibility of expanding some of them," indicating that "it was agreed on the importance of preparing a clear map of road networks, water and electricity sources and other requirements for granting investment licenses for these projects, which will be among the topics and discussions of the upcoming meetings."

Jassim pointed out that "the committee's work witnessed the presentation of a number of proposals and ideas that support the implementation of such projects, based on the Prime Minister's approval of the minutes and recommendations of the Diwani Order Committee (23674), which decided to form the Higher Committee for the Economic Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas

Headed by the Chairman of the National Investment Commission and the membership of various state bodies, including the Governor of Maysan, the Chairman of the Maysan Investment Commission, the Chairman of the Industrial Cities Authority in the Ministry of Industry and Minerals, in addition to a number of general managers in the Ministries of Finance, Planning, Oil and Education and a representative of the Prime Minister's Office."

Jassim explained that "the Higher Committee for the Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas has actually begun its work, headed by the Chairman of the National Investment Commission, Haider Mohammed Makiya."

She stressed that "the development and Advancement of the Al-Tayeb Area, southeast of Maysan Governorate, will be the first economic city in Iraq and will represent a successful model and an economic resource for the state that can be applied in other governorates of the country," explaining that "this model will represent diverse and ready investment portfolios capable of attracting and bringing in local and foreign capital."

She continued, "Al-Tayeb City will include a group of diverse projects in various economic specializations, including projects specialized in the residential sector, others in the industrial sector, and other economic projects, in addition to recreational and academic projects," noting that "developing the region will achieve a great economic return that will contribute to stimulating the economic base in the governorate, and providing job opportunities for the governorate's people."  link

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Tishwash:  Despite their large numbers, a shocking percentage of government and private banking services in Iraq

A government advisor revealed a shocking percentage and number of banking services in the public and private sectors provided to the public in Iraq.

Mazhar Mohammed Saleh told {Al Furat News} agency, "The point of stability in the banking market in particular and the financial market in general is not the large number of private banks and financial companies, but rather the point of achieving (financial depth), which means how much banking and financial activities and services contribute to the growth of the country's annual gross domestic product, i.e. through the breadth of services provided by these banking companies to the public in terms of quality and quantity to maximize the added value in economic activity."

He added that these banking services "in the gross domestic product revolve around a growth rate that does not exceed 1.5% in most cases, which is a low percentage compared to developed countries where this percentage rises to more than 20%."

Saleh explained that "based on this, the solidity and stability of the financial and banking market in particular is measured by the number of services provided to the public, and the number of its services still does not exceed 12 services at best, while it should rise to 45 banking services as a minimum."

"As for banking density, which is measured by the population's share of bank branch services, despite the huge number of government and private banks, the share of their branches in providing banking services to the population is still low," he continued. "

It is noted that the services of a single branch of these banks are still not commensurate with the population, and the banking density in our country is about 40,000 people per branch on average, while it should not exceed ten thousand people per branch unless it is less, as is the case in developed countries, where a single branch provides its services to an average of no more than six thousand people per bank branch."  link

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Tishwash:  The Ministry of Commerce announces the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from

The Iraqi General Company for Exhibitions and Commercial Services at the Ministry of Trade announced the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from today, Thursday, the first of August, and through the company's official website (www.expo.gov.iq).

The company's general manager, Mustafa Al-Maani, said in a statement: "In implementation of the directives of the Minister of Trade, Athir Al-Ghariri, the electronic reservation system was launched for the seventh consecutive year to reserve space, location and other technical matters for participation in the 48th session of the Baghdad International Fair, which will be launched under the patronage of the Prime Minister and under the slogan (Investment, Development, Prosperity) for the period from the first to the seventh of next November.

The statement explained that "the company, within its plans, has adopted the electronic reservation system to keep pace with developments and communication to reduce routine, time, effort and reviews in this aspect."

Pointing out that "this system aims to create an integrated database on the nature and size of participation in the Baghdad International Fair, through the electronic map through which it is possible to know the participating countries and entities and the locations of their pavilions with all related information as well as the charts." link

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Mot: .. LOL - I Thought of Who Immediately 

Mot: . soooo the WIFI is Down - Boo Hoo 

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

Notes From the Field By James  Hickman / Simon Black  July 31, 2024

There are only seven countries in the world that have a GDP in excess of $3 trillion: the United States. China. Germany. Japan. India. United Kingdom. And France.

Microsoft’s current market capitalization is also right around $3 trillion… which means that out of the 193 countries in the world that are recognized by the United Nations, 186 of them have an economy that’s smaller than Microsoft. Crazy.

Of course, much of Microsoft’s meteoric growth has taken place over the past three years because of the AI boom. And just like Nvidia is considered the most important hardware company in AI, Microsoft has positioned itself as the most important software company in AI… and they’re pretty much betting the business on it.

According to the company’s earnings release yesterday, Microsoft has generated an unbelievable $118 billion in Operating Cash Flow (OCF) over the past twelve months.

(OCF, if you’re not familiar, is a much more useful metric than ‘net income’ or ‘profit’ because it strips out all the non-cash accounting nonsense like depreciation.)

$118 billion in operating cash flow is a staggering amount of money. But what’s even crazier is that Microsoft spent almost every penny-- more than $113 billion-- making new investments in their business. And most of those were AI-related investments.

In short, Microsoft is a profit machine. But it’s dumping 96% of those profits into AI, in large part to justify having a $3+ trillion valuation.

Time will tell if those investments pan out, and whether Microsoft is able to build viable products that generate a sufficient return.

There’s no guarantee; AI is an extremely competitive industry where budding startups and giant tech companies are both working on the next big thing. And I have to wonder how much upside is left for a business that already has a $3 trillion valuation, relative to the competitive risks against Amazon, Google, Facebook, Apple, etc.

Yesterday the company announced that growth in their cloud ‘Azure’ business (which includes their AI revenue) was 29% year-over-year. That growth rate was slightly lower than last quarter’s 31% growth.

But even a tiny, 2% decline in growth had the market freaking out. And Microsoft stock initially plunged more than 8% in after-hours trading-- roughly $250 billion in market value. That’s larger than the economy of New Zealand.

The stock recovered much of those losses this morning. But the mini meltdown is a clear demonstration of the risk involved: even a hint of a slowdown can trigger punishing losses.

Bottom line, AI is absolutely disruptive technology and a major game changer. But we’re still in very early days; there’s a long way to go, and it’s far too early to declare a winner. Yahoo looked like the dominant Internet titan in the late 1990s, but the landscape changed dramatically.

Maybe Microsoft ends up winning the race. But there’s a lot of uncertainty in drawing that conclusion right now.

One thing that’s NOT uncertain, however, is that AI someday going to be as integral to daily life as mobile phones and the Internet are today.

We also know that AI will continue to consume ridiculous amounts of electricity — electricity, which the US grid does not have right now (and Europe is in even worse shape relative to its electrical grid).

Thanks to horrendous government incentives and propaganda by the inspired idiots and climate fanatics in the media, electrical supply from “renewable sources”, i.e. wind and solar, has skyrocketed over the past few years.

It’s no coincidence that the country is simultaneously facing major capacity shortfalls and power outages… because, you know, sometimes the sun doesn’t shine, and the wind doesn’t blow.

The green fantasy is that wind and solar are going to save the planet. But if you’re honest about the math, they’re really not all that clean.

First, you must mine a lot of really dirty resources (like cobalt) in vast quantities from places in Africa which rely on child labor in extremely dangerous conditions. But you’ll never hear Greta Thunberg utter a word about that.

Then you have to manufacture 2-6x more solar panels and wind turbines… because, again, there are occasions when the sun doesn’t shine (like nighttime!) and the wind doesn’t blow.

In the end, wind and solar end up using a lot more resources per kilowatt-hour of electricity produced than many conventional sources, and a lot of the material used are really bad for the environment.

Nuclear is a far more environmentally friendly, far more efficient way to produce electricity. And hopefully that will make a comeback… though the nuclear renaissance is likely still some years away.

In the meantime, there is an incredibly cheap, abundant, and much cleaner source of fuel that can solve America’s electrical capacity shortages and power the AI revolution: it’s natural gas.

I wrote about this last week, saying that US natural gas is a ‘picks and shovels’ investment in the AI boom.

It won’t be clear for a long time who will win the AI race. In the late 1990s, Yahoo looked to be the dominant tech titan… but the landscape changed dramatically over the next decade.

But again, we do know that AI will consume more power than the US grid has available. And the ONLY viable option to supply that power right now is natural gas.

The US is one of the wealthiest nations in the world when it comes to natural gas reserves. In fact, supply is so vast that US natural gas prices are laughably cheap; relative to the amount of energy contained in a unit of US natural gas, it’s priced at the equivalent of about $15 oil. That’s cheap.

So cheap, in fact, that an electrical grid powered by natural gas can not only deliver the quantity of electricity necessary to power the nation (and AI boom), but it could dramatically reduce energy costs.

This is a big deal. Energy prices influence the price of everything. If electricity is cheap, consumers and families save money. Manufacturing costs less. Services cost less. Transportation costs less. Everything becomes cheaper and more efficient.

To be even more clear, a natural gas renaissance could generate greater US economy growth, potentially even leading to higher tax revenue and lower deficits.

In short, natural gas is one of the only ways that they’ll be able to tame the inflation problem and save the dollar. And with natural gas prices so cheap right now, it seems to me that there’s a lot more upside in the energy of the future, than in companies that are already selling for trillions of dollars.

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

PS — If you want to go even deeper into this topic, we definitely want to encourage you to check out Schiff Sovereign: Premium. it’s packed with some incredible insights, including Plan B strategies and compelling investment research. The upcoming issue due out in a few weeks will go into far more detail about this trend, as well as some ways to invest.

https://www.schiffsovereign.com/trends/this-is-one-of-the-only-ways-they-can-tame-inflation-and-save-the-dollar-151198/

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 8-1-24

Good Afternoon Dinar Recaps,

TOKENIZED US TREASURY BILLS ON XRP LEDGER

"Tokenization platform OpenEden has announced that it will bring tokenized US Treasury bills (T-bills), a short-term US government debt obligation backed by the US Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time."

"The tokenization of T-bills onto the XRPL is a demonstration of how institutional access to decentralized finance (DeFi) is being driven by the tokenization of traditional real-world assets (RWAs).

The assets backing OpenEden’s TBILL tokens are invested in short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries. Minters are subject to stringent KYC and AML screening to ensure the highest security and regulatory compliance standards."

"Markus Infanger, Senior Vice President, RippleX. "Institutions are increasingly looking at where to tokenize their real-world assets and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”

"“Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey. Purchasers will be able to mint our TBILL tokens via STABLECOINS, including Ripple USD (RLUSD) when it launches later this year.”

@ Newshounds News™

Read more:  Ripple
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USDC TRADING VOLUME SOARS 48% in July, driven by MiCA

"Circle’s stablecoin trading volume spiked in July thanks to a surge in market inflows and new European (MICA) rules for digital assets.

 According to a July 31 report by CCData, the trading volume for USD Coin pairs on centralized exchanges reached $135 billion as of July 25, while its market capitalization rose 5.4% to $33.6 billion."

"With the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Circle became the first stablecoin issuer to be approved by regulators in the region on July 1."

"According to DefiLlama, USDT retains the largest market share of any stablecoin at nearly 70%. In addition, on July 31, Tether reported record profits of $5.2 billion in the first half of 2024."

"Several crypto exchanges in Europe delisted stablecoins ahead of the implementation of new rules on June 30."

@ Newshounds News™

Read more:  Coin Telegraph

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"In a July 2024 CBDC report, it is documented that Russia’s CBDC pilot program has been successful and will extend the number of participants from 34 to 1200 banks/merchants in the second half of 2024."

There’s only 396 operating banks in Russia meaning that the 1200 participants that the CBDC will extend to EVERY BANK IN RUSSIA.

"Therefore, Russia is conveniently passing legislation to allow “international cross border cryptocurrencies” right before they ramp up CBDC usage in 2024"

@ Newshounds News™

Read more:  https://x.com/SMQKEDQG/status/1818676859527184787

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Russia's top senator announces progress on BRICS digital payment system

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Valentina Matviyenko noted

MOSCOW, August 1. /TASS/. Plans to create a BRICS digital payment platform are moving steadily forward, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference.

"The creation of the independent financial payment platform BRICS Bridge, a standalone mutual payment system on a firm joint platform, is now being discussed within BRICS. I have spoken both with the Central Bank and the Finance Ministry, things are moving along nicely," she said. 

"It is being discussed with colleagues from central banks, finance ministries of all BRICS countries, including new members," Matviyenko said, adding that Russia, as the BRICS chair, is in charge of all this.

"If it works it will be a bombshell globally, in the best sense," the upper chamber head noted. She expressed hope that this issue would be considered at the summit of BRICS heads of states in Kazan in October. 

"Perhaps it will be approved then, or at least the discussions will lead to a decision on when and in which format it should be finalized, meaning this is no longer just an idea, it is moving forward in practice," she stressed.

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Matviyenko noted. "This shows that there is a light at the end of every tunnel," she added.

The Federation Council Speaker pointed out that the dollar is becoming weaker globally amid an overflowing US national debt, while the system of mutual settlements in national currencies is expanding.

"I hope that the system that has been created by BRICS, will become a trend, an example that not only BRICS nations, but many other countries as well will join later," she said, adding that the issue is being discussed by the Shanghai Cooperation Organization (SCO) as well.

@ Newshounds News™

Read more:  TASS

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MF'S GLOBAL RESERVE ASSET- SDR'S- PAY ATTENTION TO THIS ONE

"Congratulations to members, staff, and leadership on the 80th anniversary of the IMF’s foundation at Bretton Woods, New Hampshire.

The Fund is the crown jewel of the post–World War II international architecture. It was designed by idealists determined to construct a set of institutions to deter aggression among the major powers and prevent resumption of the interwar economic and financial unilateralism."

"The IMF’s principal purpose, according to its Articles of Agreement, is to promote international monetary cooperation by providing “the machinery for consultation and collaboration on international monetary problems.” In the turbulent period following the end of US dollar convertibility to gold in August 1971, members demonstrated that principle and quickly completed the Smithsonian Agreement by December. 

The agreement’s new par values for fixing currencies to the US dollar did not hold, though, and within two years, the Bretton Woods exchange rate regime dissolved into a system of managed floating exchange rates."

"The most enticing opportunity is the IMF’s global reserve asset, SPECIAL DRAWING RIGHTS (SDRs)."

"More than 50 years ago, members approved the first amendment to the Articles of Agreement authorizing the IMF to allocate special drawing rights. The negotiations lasted the better part of the 1960s. "

"SDRs are allocated in proportion to IMF members’ quotas. Each member receives an interest-bearing reserve asset and corresponding long-term liability on which it pays the same rate. The SDR’s value is based on a BASKET OF CURRENCIES with weights adjusted periodically by the IMF board. 

Its interest rate is a weighted average of the short-term government interest rates for the constituent currencies.An  SDR allocation adds to a member’s unconditional liquidity.

Unlike unconditional liquidity derived from borrowing or current account surpluses, the liquidity is costless until the SDRs are transferred to another holder."

"The initial allocation of SDRs annually over a three-year period starting in 1969 proved to be too little too late to save the Bretton Woods exchange rate regime, but nevertheless it was a pathbreaking and historic example of international monetary cooperation.

The second amendment to the articles, in 1978, not only preserved the IMF’s authority to allocate SDRs but also established a two-part obligation for members to collaborate on “better international surveillance of international liquidity” and “making the special drawing right the PRINCIPAL RESERVE ASSET of the international monetary system."

"SDRs are not a magic bullet that alone will solve today’s pressing global economic and financial challenges, but they are one of many instruments that can contribute."

@ Newshounds News™

Read more:  IMF

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More News, Rumors and Opinions Thursday Afternoon 8-1-2024

TNT:

Tishwash:  American newspaper: Washington deploys 12 warships and 4,000 soldiers in the Middle East

The Washington Post confirmed that the United States has deployed 12 warships to the Middle East, where tensions are escalating following the assassination of Hamas political bureau leader Ismail Haniyeh in Tehran and Hezbollah military commander Fuad Shukr in Beirut.

A Pentagon official told the Washington Post that American destroyers are stationed in the Gulf and eastern Mediterranean, including the aircraft carrier USS Theodore Roosevelt, amphibious assault teams, and more than 4,000 Marines and sailors.

According to the report published by the newspaper, the United States has redirected a number of warships stationed in the Red Sea, which are carrying out operations against the Houthis in Yemen, to the Gulf and the Mediterranean, in light of the escalating tensions in the region.

On the other hand, the Israeli newspaper Yedioth Ahronoth reported that Israel warned Hezbollah through Western and regional mediators that any large-scale attack on it would lead to war, and that it intends to target fighters instead of focusing on the infrastructure supporting the fighting, and urged Hezbollah to adopt the same approach in its operations.

US Secretary of State Anthony Blinken called on all parties to stop escalatory measures, a message that was interpreted as being directed at Israel following the killing of Shukr and Haniyeh, according to the newspaper.

Regarding the US giving Israel the green light to launch operations in the Middle East, Blinken said: "The current path is heading towards more conflict, more violence, more suffering and more insecurity, and it is important to break this cycle, starting with a ceasefire in Gaza."

Speaking to reporters in Mongolia, Blinken stressed that reaching a ceasefire requires the parties to stop taking actions that lead to escalating tensions, and to find reasons to agree to the agreement rather than delaying or rejecting it. link

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Tishwash:   Iraq signs MoU with British company to develop Kirkuk fields

Prime Minister Mohammed Shia al-Sudani sponsored, today, Thursday, the signing ceremony of a comprehensive petroleum memorandum of understanding between the Ministry of Oil and the British Petroleum Company (BP) to develop Kirkuk fields for oil and gas production.

According to a statement, the Iraqi side was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while the BP CEO Murray Auchincloss signed on behalf of the company.

The statement added, “The memorandum includes the rehabilitation and development of the four fields of the North Oil Company in Kirkuk, which are the Kirkuk field with its two domes (Baba and Avana), the Bai Hassan field, the Jambur field and the Khabbaz field, as well as the possibility of agreeing on other fields or exploration areas by agreement of the two parties, in light of the government’s efforts to optimally invest in promising opportunities in the energy sector, with the aim of increasing and enhancing oil production and gas and solar energy investments in this region.”  link

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

PompeyPeter   We still haven't got a speaker.  We still don't have a budget and we still haven't seen 4782 in the Gazette.  Is there really anybody who doubts what that is all about?  It's pretty obvious in my opinion it's all linked  to the rate.  You've got so many laws that are ready to go but are waiting for the rate.  Articles today talking about the optimism  of them passing the Oil and Gas Law.  It needs a rate.  Obviously that's a big part of the budget.  The budget hasn't come out  because the budget is waiting for the rate. 

Militia Man  Are they going to fire up the oil and gas law at 1310?  I highly doubt it.  Why wouldn't they have done it already? ...They had 19 years but they've done an extra year and got that done.  Now they're talking about it's an imminent situation...in the coming days... Bottom line is pressure is on.  

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PREPARE FOR THE GREATEST FALL OF ALL TIME AS BOND YIELDS CRATER!

Greg Mannarino  8-1-2024

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

WARNING: US Debt Crisis Threatens Dollar ENDGAME (what happens next?)

Taylor Kenny:  8-1-2024

THIS JUST IN: Staggering U.S. national debt hits an unprecedented $35 trillion, raising urgent concerns about inflation and the future of dollar-denominated assets. Taylor Kenney explores the significance of this milestone, its potential impact on your finances, and the broader economic implications.

https://www.youtube.com/watch?v=9xxPzmPq5UA

Economist’s “News and Views” Thursday 8-1-2024

U.S. Banks Report Unprecedented 23% Surge in Delinquencies As Losses Increase

Atlantis Report:  8-1-2024

The U.S. banking sector is currently facing challenges as it deals with a significant surge in delinquency rates, leading to mounting losses.

Recent reports have revealed a shocking 23% increase in delinquencies, causing concern for both banks and borrowers nationwide.

This sharp rise in borrowers falling behind on their payments has increased bank losses, impacting their profitability and stability.

https://www.youtube.com/watch?v=4-ro9iJPJ3k

Jim Willie: ¨Rate Cuts & BRICS 'Unit' Will Drive Gold Higher¨

Arcadia Economics:  8-1-2024

In the midst of a chaotic election season, a Fed meeting, and more progress by the BRICS on their 40% gold backed 'Unit,' who better to check in with than Dr. Jim Willie.

Jim talks about the the policies that Trump is going to implement if elected, how that will affect the gold market, and the latest he's hearing about the BRICS plan for their 'Unit' payment currency.

Especially at such a volatile time in the financial and political markets, you'll want to hear the latest from Jim. So click to watch the video now!

https://www.youtube.com/watch?v=9JGuBsC8C5U

BRICS Trade 23.9% UP Amid US and EU Decline: What next?

Fastepo:  8-1-2024

The growth of trade volume between China and BRICS member states has seen a remarkable upward trajectory, significantly reshaping global trade dynamics.

 In 2022, trade between China and the BRICS countries reached unprecedented levels, reflecting robust economic partnerships and strategic collaborations. China’s trade with the existing BRICS nations has been characterized by substantial increases across various sectors.

For instance, trade with Russia alone hit $190 billion in 2022, while bilateral trade with Brazil reached $165.6 billion. Trade with India and South Africa also showed significant growth, indicating deepening economic ties despite political and geographical challenges.

 Collectively, China’s trade with BRICS members totaled 2.38 trillion yuan (about $325.7 billion), up 19.1% year-on-year. Exports reached 1.23 trillion yuan, up 23.9%, while imports were 1.15 trillion yuan, up 14.3%.

 The inclusion of new BRICS members, each bringing unique economic strengths, is expected to further diversify and expand trade volumes.

Saudi Arabia and the UAE, as major oil producers, will enhance energy trade. Ethiopia and Egypt will add to Africa’s representation, potentially increasing infrastructure investments and economic development projects across the continent.

Conversely, trade between China and Western economies has shown signs of decline. In the first half of 2023, trade between China and the EU fell for the first time in four years, reflecting increasing geopolitical tensions and economic sanctions.

 Similarly, trade with the United States experienced a downturn, with bilateral trade declining by 11.6% in 2022 compared to the previous year. These declines highlight the shifting trade dynamics as China pivots towards stronger economic relationships with BRICS countries and other emerging markets.

 In this video, we delve into the transformative shift in global trade patterns, moving away from the traditional East-West axis towards a burgeoning South-South framework.

This emerging trend is reshaping not only trade routes but also the broader global order. The increasing trade and economic cooperation between countries in the Global South is heralding a new era of geopolitical influence, challenging the longstanding dominance of Western powers.

This shift signifies a profound change in the global economic landscape, with significant implications for international relations and economic policies worldwide

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

News, Rumors and Opinions Thursday AM 8-1-2024

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 Thurs. 1 Aug. 2024

Compiled Thurs. 1 Aug. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Wed. 31 July 2024 Wolverine: “Hi Guys. Everything is go, go, go, green, green, green. …I just spoke with Reno (thumbs up sign). Get ready. Get ready for the biggest transfer of wealth in history. This is history in the making and you are all part of history. Remember to lift up your vibrations and never ever turn away from God. You have all been chosen. Tomorrow I’ll be having a special live call with our special guest Elizabeth Rodriguez who has a few words to tell us. God bless you all. Your friend, Wolverine.”

Tues. 30 July 2024 TNT Tony: “On High Alert starting at 5am for 48 hours. Get in where you fit in.”

Wed. 31 July 2024 Suzette: “I am getting so many posts about the notifications coming out in the next 48 hours! Some of my contacts are from 2016/military. Everyone is saying to keep your email open and notifications on.”

Wed. 31 July 2024 Brazil Colombia Paymaster Hernan Bastidas, Mr. Savage: “The enterprise has over 80,000 personnel helping in this process, working in different projects for the benefits of the people. Yesterday a company in charge of the delivery is CALL CENTER will start giving notifications. Hernan Bastidas also stated that he the one directing the people to get the blessings to the CALL CENTER  due each person will be attended privately and there phone number is private at the call center, GERMAN BASTIDAS also said that he is in BRAZIL providing training to others leaders as is 29 of july he has sign an NDA so ALL process now will be take care the CALL CENTER .

Tues. 30 July 2024: Declassification of Information: NESARA GESARA, White Hats, Quantum Financial System (QFS), Banking Cartels, Brunson Brothers, and Empowerment of the People! – amg-news.com – American Media Group

Tues. 30 July 2024: BQQQM! Q Phones and GESARA: Trump’s Blueprint for Q Phones and GESARA Using Stellar Blockchain for a Global Currency Revolution! – amg-news.com – American Media Group

**********

Global Financial Crisis:

Wed. 31 July 2024: The Master Key GRAND Revelations: Quantum Financial System XRP/L – A Paradigm Shift in Global Economics – Dave XRP Lion Reveals the Grand Secrets – amg-news.com – American Media Group

Wed. 31 July 2024 Central Banks are shutting down — bankrupted. … (JFK Jr.) on Telegram

Old financial systems bankrupted. Congress, White House, IRS, Federal Reserve are shut down — U.S. Corporation is bankrupted.

Gold-backed currency, digital assets, QFS, Nesara Gesara is growing!

QFS Nesara Gesara is manifested.

Earth & humanity are under construction while business is still open. The DS are in full panic mode, desperate & wounded & is lunging wild attacks.

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

Wed. 31 July 2024 Unveiling a tangled web of covert operations, Fulford Report:

Trump declares that he will not create a Central Bank Digital Currency (CBDC), but speculation mounts that plans could change in late 2025, involving the USSF and Elon Musk.

Stay tuned as these unprecedented events continue to unfold and shape the fate of our world.

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

Judy Note:

Members of the US Congress were well aware of our corrupt financial system in place since 1913 that launders US Taxpayer money to the Elite, keeps those very taxpayers in debt and has resulted in a fiat US Dollar, yet politicians have been blackmailed and paid big monies to not do anything about it – which they don’t, never have and seem to have had no incentive to change the system in the future….

The Petrodollar has come to an end.

Read full post here:  https://dinarchronicles.com/2024/08/01/restored-republic-via-a-gcr-update-as-of-august-1-2024/

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

Frank26   Sudani is in control of his reforms.  Yeah, you still got a lot of troublemakers.  When you've been able to steal all your life and you depend on it and then all of a sudden it stops, you go into shock...Your sugar money stopped...Panic is what causes the bad people in Iraq to continually try to steal this monetary reform because the monetary reform will bring a new exchange rate, purchasing power and the lower notes.  But if you do that then there's no way to steal the money anymore.  It's a good thing for the Iraqi citizens...

Militia Man  There's been some blow back.  We have those guys who just don't want Iraq to move forward because their cash cow goes away.  That's what we're seeing and that's why it's intense...The last few weeks have really been powerful...We are watching history being made.

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Iraq Implementing e-Visas for Investors DRP Update Exchange Rates IQD & VND

Edu Matrix:  8-1-2024

Iraq Implementing e-Visas for Investors DRP Update Exchange Rates IQD & VND. Development Road Project Update. Currency News;

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

The FALL OF AN EMPIRE. What Are They Desperately Trying To Hide From Us?

Greg  Mannarino:  7-31-2024

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

“Tidbits From TNT” Thursday Morning 8-1-2024

TNT:

Tishwash:  Parliamentary Committee: Parliament will host the Central Bank Governor for this reason

The Presidency of the Council of Representatives agreed to host the Governor of the Central Bank of Iraq, Ali Al-Alaq, during the upcoming sessions of the Council of Representatives.

Member of the Parliamentary Integrity Committee Hadi Al-Salami confirmed, in a statement to the National Iraqi News Agency / NINA /, that "the Presidency of the Council of Representatives approved hosting the Governor of the Central Bank in the session of the Council of Representatives, the date of which will be determined later, within the framework of the supervisory role of the work of the Central Bank and its Governor, and in accordance with the Council of Representatives Law No. 13 of 2018, Articles 27-29 thereof."

He added, "Hosting the Governor of the Central Bank will be to answer the oral question before the Council of Representatives regarding the exchange rate in the parallel market, and the large financial difference from the official exchange rate, as well as what is related to the application of the standards of transparency and confidentiality and not announcing the daily bulletin of the Central Bank."  link

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

Tishwash: US State Department: We will take all measures to protect our interests in the Middle East

 The US State Department announced today, Wednesday, July 31, 2024, that Washington will take every possible measure to protect American individuals and interests in the Middle East.

The US State Department said in a statement, "We have seen Hamas' statement regarding Haniyeh, but we do not want to speculate on any repercussions or reactions to the incident," referring to the assassination of Ismail Haniyeh.

She pointed out that "the US commitment to Israel's security and its defense against any reckless attacks that Iran may launch is firm and unwavering."

She noted that "her efforts to reach a deal and bridge the gaps are still ongoing and represent a priority for us and for the region."  link

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Tishwash:  Official to Reuters: US carried out strike in Iraq

 The United States carried out a strike in Iraq on Tuesday in self-defense, a U.S. official told Reuters, hours after Israel struck Iranian-backed Hezbollah in Lebanon and as tensions escalated in the Middle East.

The official, who spoke on condition of anonymity, said the strike was caused by a threat to US-led coalition forces.

Explosions took place on Tuesday inside a base used by Iraq's Popular Mobilization Forces south of Baghdad, killing four of its members and wounding four others, police and medical sources told Reuters.

The Popular Mobilization Forces is an official security agency that includes several armed groups allied with Iran.

Hospital sources said the initial death toll was one, but two people who were seriously injured in the blasts later died, and another body was recovered from the blast site.

The explosions came after several missiles were fired at Iraq's Ain al-Asad air base, which houses US-led forces, late Thursday, causing no damage or injuries, US and Iraqi sources said.

In a statement issued after the explosions, the Popular Mobilization Forces did not make any accusations, referring to an explosion of unknown origin.

Later, another statement by the Popular Mobilization Forces said that missiles launched by drones targeted two Popular Mobilization Forces patrols in the town of Jurf al-Sakhar, south of Baghdad.

An Iraqi military official said the cause of the explosion was still unclear and authorities would begin investigating the incident.

Two local leaders of Iraq's Popular Mobilization Forces accused the United States of carrying out airstrikes targeting the Popular Mobilization Forces base. There was no immediate comment from the US military.

Witnesses said ambulances rushed to the area where the camp is located, 50 kilometres south of Baghdad.

Iraq has seen a surge in tit-for-tat attacks since the war between Israel and Hamas broke out in October. It is a rare ally of both Tehran and Washington, hosts 2,500 US troops and has Iranian-backed militias linked to its security forces.  link

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Tishwash:  Iraqi Army receives seven Bell 505 helicopters from US

The Iraqi Army Aviation Command announced Tuesday that it has received seven Bell 505 helicopters from the United States.

The Bell 505 Jet Ranger X is an American/Canadian light helicopter developed and manufactured by Bell Helicopter.

In a statement, the Iraqi Ministry of Defense said the delivery is part of "pre-arranged contracts aimed at advancing the country's military training programs. The handover ceremony was attended by the representative of the Commander-in-Chief of the Armed Forces, the Air Force Commander, senior officers from the Ministry of Defense, the US Military Attaché, and a representative from Bell Helicopter."

"This batch will significantly update and improve our training system with modern aircraft," said Major General Mohammed Abdul Karim Awfi, Commander of Army Aviation. "It will also help in preparing skilled pilots capable of protecting Iraq's airspace and executing missions with high efficiency."

In turn, the US Military Attaché described this step as "a pioneering to enhance the command's capabilities and train pilots under ambitious and advanced plans."  link

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Mot: .. Bye! - Bye!

Mot:  They Say with NESARA - Things Will Be Going Back to the 1950s - What Ya Think???

More News, Rumors and Opinions Wednesday PM 7-31-2024

KTFA:

Clare:  urgent ...Integrity Commission announces receiving one of the most prominent defendants in the “theft of the century"

7/31/2024

The Integrity Commission announced that it had received one of the most prominent defendants in the theft of tax deposits known as the “Theft of the Century” case.

The Integrity Commission praised the cooperation of the Federal and Regional Ministers of Interior.

According to Iraqi officials, the scandal revolves around illegal cash withdrawals from the country’s General Tax Authority in 2021 and 2022 totaling about $2.5 billion, a huge sum even in a country that consistently ranks among the world’s most corrupt.

An Iraqi businessman named Nour Zuhair, who has become one of the most prominent suspects in the case, has recovered about 380 billion dinars ($292 million) in stolen funds since his release on bail in November 2022, the head of the National Integrity Commission, Haider Hanoun, told Reuters earlier. Zuhair has publicly asserted his innocence of all charges against him.   LINK

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

Militia Man :  The US Treasury will not wait.  They can act at a moment's notice.  That is coming from the higher-ups.

Jeff  Article: "Four counties meet in Baghdad to support the development road project" ...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.  Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August. 

Frank26  The bad guys in Iraq, whoever they may be, they just don't want the monetary reform.  They don't want it to happen.  You know that.  That's the reason why we don't have the monetary reform of the Iraqi dinar.  Because of the corruption that is occurring inside of the the government of Iraq.  But  Sudani is in good control...He sure is.

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Tishwash:  Moeen Al-Kadhimi: Corruption dates back to Saddam’s time.. Is the budget error an employee oversight?

Ask about the Sudanese objection

Badr Organization leader Moeen Al-Kadhimi, a member of parliament’s finance committee, said that the prime minister’s objection to the existence of different versions of the budget and the addition of large sums is now being justified as an “error and oversight” made by employees, but shouldn’t we ask the “accomplices” about the truth of what happened? Expressing his belief that corruption dates back to the era of Saddam Hussein and has now evolved and become more complex.

Moeen Al-Kadhimi, with the media figure Khitam Al-Gharawi:

Going too far with public money has become a culture and has reached junior employees, and this needs to be reconsidered. This has been going on since the previous regime, and now officers are not given leave or transferred soldiers unless there is something in return for that, even though managers and officials have cars, protection and good salaries, so why do you extend your hand to ill-gotten money, and it is sometimes considered cleverness? This culture needs real treatment.

(An example of corruption) is the change that occurred in the budget tables. Some ministries, such as the Ministry of Commerce, had large amounts added to the food ration item. Who will benefit from this and who colluded with them? The explanations and justifications that are being put forward are that this was an employee mistake!

There are protocols signed between Iraq and countries such as Russia, Saudi Arabia, the Emirates, Lebanon and Jordan because these countries did not respond to demands to return the money even if they knew it was smuggled because they benefit from it, and some of these countries grant citizenship to the person and consider him a citizen of theirs. An example of this is the case of Ayham al-Samarrai, the former Minister of Electricity, who was imprisoned in the Salihiya Police Station, and an American force came and got him out and escaped, and now he lives in America.

Some of the protocols signed with countries give enough space to recover the money, but other countries do not accept this, such as Switzerland, which prefers that the money remain in its banks, and is prepared to grant citizenship to the Iraqi in order to provide him with protection and keep the money, especially for executive officials.

The government has a duty to follow up on general managers, and unfortunately, until now, there are some managers who consider the position a spoil that they want to benefit from. Sometimes this is clear to see. Yesterday, I had a call regarding the issue of security clearances, and I came across an official in a company, and we clearly noticed that he was corrupt, because all matters pass through him, he approves them and covers them up, and action was taken.

The Integrity Commission, through our conversations with them, has two problems. The first is internal, which is the lack of cooperation from some ministries and departments, which are negligent in research and auditing and do not provide priorities. The second is the lack of cooperation from the countries to which the corrupt flee. link

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"US Taxpayers Owe $3/4 Million Each, It's the Biggest Banana Republic of All" –

Mike Maloney:  7-30-2024

Today, Mike Maloney dives deep into the shocking reality of US debt, revealing that each taxpayer owes around $750,000.

He celebrates Argentina's new libertarian president, Javier Milei, for his bold economic reforms that have rapidly improved the nation's financial health.

Mike contrasts this with the biased and manipulative nature of today's US media. Discover in today’s video why he believes fiscal responsibility and adherence to economic laws are crucial for a nation's prosperity.

https://www.youtube.com/watch?v=Auq3SVDLmWc

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 7-31-24

Good Afternoon Dinar Recaps,

RUSSIA LEGALIZES BITCOIN AND CRYPTO TRANSACTIONS FOR GOVERNMENT AND BUSINESSES

"In a significant legislative move, Russian lawmakers have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade, according to a report by Retuers.

 This development is part of Russia's strategy to circumvent Western sanctions imposed following the invasion of Ukraine. The new law, expected to take effect in September, aims to address delays in international payments, particularly with key trading partners like China, India, and the UAE."

"Central bank Governor Elvira Nabiullina, a proponent of the law, announced that the first cryptocurrency transactions will occur before the year's end. The central bank will establish an "experimental" infrastructure for these payments, with further details pending."

"The legislation also includes regulations on cryptocurrency mining and the circulation of other digital assets but maintains the ban on cryptocurrency payments within Russia. The central bank highlighted that payment delays have caused an 8% drop in Russian imports in the second quarter of 2024.

"Despite efforts to shift to trading partners' currencies and develop an alternative BRICS payment system, many transactions still rely on dollars and euros via the SWIFT system, risking secondary sanctions. Nabiullina emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs."

" Anatoly Aksakov, the head of the Duma lower house of parliament, reportedly told lawmakers, "We are taking a historic decision in the financial sphere" by passing this legislation. "

@ Newshounds News™

Read more:  Bitcoin Magazine

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DIGITAL RUSSIAN RUBLE SET FOR MASS DISTRIBUTION JULY 2025

"MOSCOW, July 30. /TASS/. If the digital ruble is successfully tested its mass introduction is possible starting July 2025, Russian Central Bank Governor Elvira Nabiullina said addressing the Federation Council (upper house of the parliament)."

"Now I can say that if everything goes as we plan further on, with pilots implemented successfully, we will be able to shift from tests to massively introducing the digital ruble from July 2025. We target those dates, though it will be a gradual process, a gradual process of using digital rubles," she said.

"Russian President Vladimir Putin said earlier that the platform of digital ruble showed efficiency and reliability as it was tested."

"The Bank of Russia has been implementing a pilot project with real digital rubles since August 15, 2023. At the first stage, active operations are tested, such as opening wallets in digital rubles for banks and clients (individuals and legal entities), transferring digital rubles between clients, and payments at trade and service enterprises."

@ Newshounds News™

Read more:  TASS

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Statement of Commissioner Caroline D. Pham in Support of Foreign Boards of Trade Final Rule
July 29, 2024

I support the Foreign Boards of Trade (FBOT) Final Rule because it promotes access to markets for U.S. participants, competition, and liquidity.  I would like to thank Maura Dundon, Roger Smith, and Alexandros Stamoulis in the CFTC’s Division of Market Oversight for their work on this rulemaking.

I will reiterate key points from my statement on the FBOT proposed rule. [1] As a CFTC Commissioner, I have made it clear that I believe in good policy that enables growth, progress, and access to markets.[2]  

Accordingly, I am pleased to support Commission efforts that take a pragmatic approach to issues that hinder market access and cross-border activity.  I continue to believe that this rulemaking exemplifies policy that ensures a level playing field, and I applaud this step in the right direction for market structure.

FBOTs have been a critical piece of the CFTC’s markets for decades and provide access for U.S. market participants to non-U.S. markets in realization of the global economy and international business.[3]  

The main substantive amendment in the FBOT Final Rule is to Regulation 48.4, which will now include

1. introducing brokers (IBs)[4] as a permissible intermediary,  in addition to
2. futures commission merchants (FCMs),
3. commodity pool operators (CPOs), and
4. commodity trading advisors (CTAs),

to enter orders on behalf of customers or commodity pools via direct access on a registered FBOT.[5]  

I believe that the FBOT Final Rule will provide more choice in brokers and broker arrangements for U.S. market participants that trade foreign futures and ensure that appropriate customer protections are in place.

As sponsor of the CFTC’s Global Markets Advisory Committee (GMAC),[6] I have devoted a significant part of my Commissionership to supporting solutions that will enhance the resiliency and efficiency of global markets.[7]  The FBOT Final Rule is policy that mitigates market fragmentation and the associated impact on liquidity, and promotes the overall competitiveness of our derivatives markets.  I am pleased to support the FBOT Final Rule.

@ Newshounds News™

Read more:  CFTC

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GOLD ON THE MOVE with Fed Rate Cut Speculation

"The latest economic data has sparked renewed optimism in the gold market, with prices climbing over $20 as investors digested signs of cooling inflation and robust economic growth"

"The central bank’s actions in the coming months could have far-reaching implications for gold prices and the broader financial landscape."

@ Newshounds News™

Read more:  Dedollarize News

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Bank of England seeks feedback for wholesale CBDC trials

Today the Bank of England published a discussion paper on innovation in money and payments. While it covers payments across the board, it aims to gather feedback for planned wholesale central bank money trials. This will include both a wholesale central bank digital currency (wCBDC) and a synchronization solution enabling DLT transactions to settle using the real-time gross settlement (RTGS) system.

The report states, “We judge that these risks are an  order of magnitude greater than the risks posed by retail use cases.”

At a retail level, the UK is now testing tokenized deposits through the Regulated Liability Network initiative. However, the paper warns of the need for progress. “Commercial bank money needs to keep pace with the needs of consumers and so carry functionalities to deliver safe and sustainable innovation in payments,” wrote the authors. “Absent such innovation, central banks may be left as the only game in town insofar as retail payments innovation is concerned.”

Regarding the wholesale CBDC trials,
in conjunction with the BIS Innovation Hub, the Bank already ran Project Meridian, which enabled a digital real estate transaction to settle via connectivity with the RTGS. Currently it’s running Project Meridien FX with the European Central Bank.

The paper outlines a series of planned wholesale tests for both the wCBDC and the synchronization solution. It envisages the latter as being a third system that integrates between the RTGS and various DLTs. It wants to run the tests side-by-side so it can make comparisons between the wCBDC and synchronization risks and complexity.

The tests encompass delivery versus payment (DvP).  Other uses cases will involve payment versus payment (PvP). Synchronization is already being trialed as part of Project Meridian FX, but it also wants to explore wCBDC.

Finally, it will test interoperability with global initiatives such as the BIS Project Agorá for cross-border payments in which the Bank is a participant.

@ Newshounds News™

Read more:  Ledger Insights

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UAE residents can now trade crypto directly with their bank accounts

The new integration enables the direct conversion of UAE dirhams into Bitcoin and Ether using M2’s spot market.

Crypto exchange M2 announced that it will allow residents in the United Arab Emirates to buy and sell Bitcoin and Ether directly using their bank accounts.

In an announcement shared with Cointelegraph, the digital asset custodian said that the new integration allows UAE residents to directly convert their dirhams into Bitcoin and Ether. Through trading pairs listed on M2’s spot markets, users can trade BTC and ETH for dirhams and vice versa. In addition, users can also deposit and withdraw dirhams.

The M2 team believes that the new integration enables users to “swiftly adapt to market changes,” allowing them to easily convert their local currency into crypto.

Wider accessibility of virtual assets in the UAE
According to M2, the new integration allows the exchange to expand its offerings amid a rapidly evolving landscape. The team also believes the new integration is a milestone for the “wider accessibility of virtual assets in the region.”

Kimmel told Cointelegraph that the new integration could also help everyday investors, especially those who are not “fully entrenched” in the nuances of the trading environment.

UAE is one of the world’s “strictest” in consumer protection.  In addition, the executive highlighted that this move is also regulated by the UAE government, which he described as one of the world’s “strictest regulatory frameworks” that prioritizes consumer protection.

@ Newshounds News™

Read more:  Coin Telegraph

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HOW MUCH MONEY IS IN CRYPTO?
HAVE YOU EVER CONSIDERED THE MARKET CAP ON THE LARGEST CRYPTOCURRENCIES?

IT MIGHT SURPRISE YOU

1. BITCOIN               1.3 Trillion
2. ETHEREUM         398 Billion
3. TETHER-USDT    114 Billion
4. BNB                        86 Billion
5. SOLANA                 84 Billion
6. XRP                      35 Billion
7. USDC                    33 Billion
8. DOGE                     18 Billion
9. TON                       17 Billion
10. CARDANO ADA   18 Billion        

@ Newshounds News™

Read more:  Coin Market Cap

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What Is Market Capitalization?

"Market capitalization, or "market cap," represents the total dollar market value of a company's outstanding shares of stock. Investors use this figure to determine a company's size instead of sales or total asset value."

"Market capitalization estimates a company's value by extrapolating what the market thinks it is worth for publicly traded companies and multiplying the share price by the number of available shares. After a company goes public and begins trading on an exchange, its share price is determined by supply and demand. As market prices move, the market cap becomes a real-time estimate of the company's value. "

Market Cap and Digital Currency
Because new digital currency offerings theoretically thin the value of existing coins, tokens, or shares, a different market cap formula can be used to calculate the market cap for all authorized shares or tokens. Analysts use diluted market cap to understand potential changes to a security, token, or coin's price."

@ Newshounds News™

Read more:  Investopedia

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Will Canada Beat Japan in the Race to a Total Fiat Currency Collapse?

Will Canada Beat Japan in the Race to a Total Fiat Currency Collapse?

On July 29, 2024 By Awake-In-3D

Maybe Canada should consider Joining the BRICS gold-backed currency system – if only Canada had some gold.

Once a beacon of prosperity and stability, Canada now faces unprecedented challenges.

The nation’s standard of living is plummeting, economic policies are under intense scrutiny, and an increasing number of Canadians are considering leaving the country.

In This Article

• Canada vs. Japan in a Currency Race to the Bottom

• The Decline of Canada’s Standard of Living

• By the Numbers: Canada’s Current Economic Disaster

• Trudeau’s Economic Policies and Their Impact

• Future Prospects for Canada’s Economy

Of course the United States is also in serious decline. However, Canada does not have the luxury of having the world’s reserve currency.

Nor does Canada hold a single ton of gold in her sovereign monetary reserves.

This article details Canada’s troubling decline, offering a comprehensive look at the forces reshaping the Great White North.

Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute.

The study compared the three worst periods of decline in Canada over the last 40 years – the 1989 recession, the 2008 global financial crisis, and the current post-pandemic era.

Unlike the previous recessions, Canada is not recovering this time. Something broke.

In fact, according to the Financial Post, since 2019, Canada has had the worst growth out of 50 developed economies. Inflation-adjusted Canadian wages have been flat since 2016.

Canada vs. Japan in a Currency Race to the Bottom

While both Japan and Canada are major global economies, neither country’s currency is faring very well against King Fiat Dollar this year.

The Canadian Dollar has lost 4.34%of its value year to date while the Japanese Yenb has depreciated 8.43% against the US dollar (see charts below).

CAD/USD Year to Date

JPY/USD Year to Date

While Japan’s 250% debt to GDP is a catastrophic problem with no way out, at least they have built up their sovereign gold reserves to 846 tons as of March of 2024.

Canada, on the other hand, has absolutely zero gold reserves. What are they thinking?

As I will explain below, holding no gold reserves is only the tip of the iceberg as the economic disaster unfolding in Canada paints a very dangerous future for my friends in the Great White North.

The Decline of Canada’s Standard of Living

Canada’s per-person real GDP is still falling, and with a looming US recession, Canada could crash again before it ever recovers.

The US accounts for 75% of Canada’s exports, making its economic health crucial to Canada’s prosperity. Canadian bankruptcy filings jumped 40% last year, while CIBC reports nearly half of Canadians have zero emergency savings.

Additionally, StatsCan reports that Canada’s violent crime rate is up 40% since 2014.

An Ipsos poll found that 7 in 10 Canadians agree that “Canada is broken,” rising to 8 in 10 for those between ages 18 and 34.

The Angus Reid Institute found that 42% of Canadians are considering moving to another country.

By the Numbers: Canada’s Growing Economic Disaster

• Canada’s standard of living is on track for its worst decline in 40 years.

• Since 2019, Canada has had the worst growth out of 50 developed economies.

• Inflation-adjusted Canadian wages have been flat since 2016.

• Canada’s per-person real GDP is still falling.

• The US accounts for 75% of Canada’s exports, impacting Canada’s economic health.

• Canadian bankruptcy filings jumped 40% last year.

• Nearly half of Canadians have zero emergency savings, according to CIBC.

• Government spending has nearly doubled to almost half of GDP.

• Government workers in Canada are growing almost four times faster than the private sector.

• One in three Canadians now work for the government, earning 30% more in salary and benefits than private-sector counterparts.

• Food inflation in Canada is up 25% since the pandemic.

• Energy costs in Canada have risen 30%, partly due to a carbon tax.

• Sales tax in most Canadian provinces is 13 to 15 percent on everything you buy.

Trudeau’s Economic Policies and Their Impact

Justin Trudeau’s administration has been marked by significant changes in economic policy.

Trudeau’s campaign aimed to convert Canada from a mixed economy like the US into a government-dominated economy similar to some European countries.

Under Trudeau, business investment has plunged by a third, while government spending nearly doubled to almost half of GDP.

Canadian Prime Minister Justin Trudeau. Source: True North News

Government workers in Canada are growing almost four times faster than the private sector, and one in three Canadians now work for the government, earning 30% more in salary and benefits than their private-sector counterparts.

This has made it challenging to win an election on a small-government platform, as 40% of voters are directly dependent on government-provided livelihoods.

Future Prospects for Canada’s Economy

In the near term, things will likely worsen because Canadians are stuck with Trudeau through the next election in 2025.

Conservative leader Pierre Poilievre is currently ahead in the polls, but government-funded media efforts to undermine him are narrowing his lead.

This suggests continued inflation, economic decline, mass migration, and rising crime.

Pierre Poilievre, leader of the “Common Sense Conservatives” speaks at a 2023 Town Hall meeting in Nova Scotia. Source: The Laker News

The Bottom Line

Canada is facing a critical period of economic and architectural decline. With flat wages, rising living costs, and a struggling economy, Canadians are experiencing one of the worst periods of decline in recent history.

The future of Canada’s economy remains uncertain, but addressing these issues is essential for restoring prosperity and stability.

Contributing Sources: 

• https://brownstone.org/articles/canadas-worst-decline-in-40-years/

• https://www.fraserinstitute.org/sites/default/files/changes-in-per-person-GDP-Income-1985-to-2023.pdf

• https://financialpost.com/news/canada-standard-of-living-faces-worst-decline-40-years#:~:text=A%20leader%20among%20the%20so,rate%20among%2050%20developed%20economies.

• https://thehub.ca/2024/07/23/theo-argitis-taking-stock-of-canadas-complicated-economy-before-tomorrows-bank-of-canada-decision/

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© GCR Real-Time News

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BRICS to Leave World Bank: What are alternatives?

BRICS to Leave World Bank: What are alternatives?

Fastepo:  7-30-2024

Are the World Bank and IMF Truly Serving the Global South, or Is It Time for Change? The effectiveness of the World Bank and the International Monetary Fund (IMF) has come under increasing scrutiny from BRICS nations, which argue that these institutions are dominated by Western interests and fail to address the needs of developing countries.

Critics highlight the stringent loan conditions imposed by the World Bank and IMF, which often do not align with local priorities and can exacerbate economic and social challenges.

Indian Prime Minister Narendra Modi has publicly criticized the World Bank's governance structure, describing it as outdated and disproportionately favoring Western nations. Modi has called for a more equitable system that provides greater representation and decision-making power to developing countries.

This stance reflects India's broader push for reforms in international financial institutions to ensure fairer treatment of emerging economies.

South Africa's experiences with the World Bank have also been contentious. The country has faced significant challenges due to the stringent conditions attached to World Bank loans, particularly those affecting its economic policies and social programs.

In the 1980s and 1990s, South Africa was subject to structural adjustment programs mandated by the World Bank and IMF, which included austerity measures, privatization of state-owned enterprises, and trade liberalization. These policies are widely believed to have undermined South Africa's economic sovereignty and increased social inequalities.

 Nobel laureate economist Joseph Stiglitz has been a vocal critic of the IMF and World Bank, particularly in the context of Russia. Stiglitz argues that the rapid privatization and market liberalization policies advocated by these institutions in the 1990s led to severe economic and social turmoil.

These policies resulted in a significant decline in GDP, increased poverty rates, and greater economic inequality, with a dramatic fall in life expectancy and rising unemployment.

 Critics argue that the World Bank's policies perpetuate Western influence, marginalizing the unique economic contexts of Global South nations.

 In response, BRICS has established the New Development Bank (NDB) to support infrastructure and sustainable development projects, providing an alternative to traditional financial institutions.

Geopolitical considerations also play a crucial role in BRICS' stance. The bloc's resistance to Western sanctions and efforts to trade in non-dollar currencies illustrate its push for a more equitable global financial system.

These actions underscore the growing desire among BRICS nations to reduce dependency on the US dollar and create a more inclusive economic order.

This video explores the criticisms of the World Bank, examining its historical Western control and the contentious programs that have had mixed impacts on global development.

 It delves into the reasons behind the Global South's shift towards alternatives like the NDB, emphasizing the need for financial systems that support more sustainable and equitable growth.

https://www.youtube.com/watch?v=XWBcZ1FkQdY