More News, Rumors and Opinions Tuesday Afternoon 11-12-2024
Gold Telegraph: Big Moves are Quietly Happening
Monday November 11
More central banks are stepping in to sell dollars to support currencies. Vietnam is the latest.
India is pushing for more trade with Russia to be settled in rupees. India’s trade with Russia is currently at $66 billion, and it aims to reach $100 billion by 2030.
The trend continues…
BREAKING NEWS: GHANA’S CENTRAL BANK SOLD $214 MILLION WORTH OF DOLLARS TO THE MARKET TO SUPPORT ITS CURRENCY
Another one.
“Intervention was highest in a week this year, Databank says…”
BREAKING NEWS: UNITED OVERSEAS BANK HAS SIGNED A MEMORANDUM OF UNDERSTANDING WITH THE SHANGHAI GOLD EXCHANGE TO CONNECT CHINA’S GOLD SUPPLY CHAIN TO ASEAN MARKETS
Big moves are still quietly happening.
“Referring to a report by the Singapore Bullion Market Association, UOB notes that there is an increasing demand for gold in Southeast Asia with a rising middle-class population…”
https://dinarchronicles.com/2024/11/11/gold-telegraph-big-moves-are-quietly-happening/
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TNT:
His advisor: Al-Sudani's visit to Kurdistan focuses on these files
The Prime Minister's Advisor, Subhan Mala Jiyad, confirmed that the upcoming visit of Prime Minister Mohammed Shia al-Sudani to the Kurdistan Region will focus on the pending files between the center and the region and the process of forming the government.
In a television interview seen by Al-Maalouma Agency, Jihad said, “The visit is important and comes at a very necessary and sensitive time for Iraq and the Kurdistan Region in general, especially since Prime Minister Mohammed Shia al-Sudani was able to establish a strong relationship based on mutual trust between the center and the region during the past two years of the Iraqi government’s term.”
He added, “This relationship today has become a point of pride, whether in the center or in the region, and is built on mutual trust, frankness and transparency. Therefore, this visit comes in the context of this issue and in the context of resolving the pending problems, if there are pending problems between Baghdad and Erbil, and also between the parties of the region, as it encourages shortening the time in forming the next regional government.”
He continued, “There will be a meeting between the Iraqi Prime Minister as well as with the leadership of the Patriotic Union of Kurdistan in Sulaymaniyah, and certainly one of the main topics currently being discussed is the issue of forming the Kurdistan Regional Government and helping to form it as quickly as possible."
Al-Sudani's advisor pointed out that "the center needs a harmonious and strong regional government, especially in light of the good and balanced relationship between the region and the center, because the center also needs this government to be in a way that helps develop the relationship." link
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat I see what is happening in Iraq as a final “cleanup” from the sanctioned days and war years...there is going be some huge change in policy of currency exchange for international trade with Iraq...why else would the CBI make such a drastic change in policy with the currency auctions if the US didn’t tell them to “ditch the dollar” and do it now. ...But in order to do it Iraq needed the reforms... reforms come first, then they can rebuild their economy and somewhere in the new economy building phase, they strike out and delete the zeros and reinstate...So, come the end of 2024 don’t you think these reforms will be ‘good enough” to let the dinar finally get to FOREX? I was told this is their target.
Frank26 [Bank story] This time we didn't go down, we just called [the bank]...We said we want to see if we can exchange some currency and he said what kind of currency? We said Iraqi dinar. He didn't even skip a beat, he said, well I'm not sure about that one right now let me talk to my colleagues and I'll get back to you. Easy-peasy, we were just kind of shocked. He put me on hold and came back and he very calmly said sir…. with the amount that you told us you have, the Brinks truck will come to your house and they will do the exchange right there in your house and then you'll be good to go. It'll be in your bank. You'll be able to verify it on your phone, in your app that shows your banking information. He said you'll be able to validate on a computer, all that jazz, that the money is in your account...They're saying we should have and accountant and tax attorney. They have a list of all that, that they'd be more than happy to share. I said no thank you I have all that covered...It was amazing. Our jaws dropped...This was [last] Monday by the way...
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America's Largest Banks Can’t Come Back From This
Atlantis Report: 11-12-2024
The financial system of the United States has been a symbol of strength, resilience, and stability for a long time, which has supported the nation's economic power on the global stage. However, recent revelations and increasing evidence suggest that the country's largest banks are on the brink of a severe crisis.
This crisis is so deep that the chance of their recovery is questionable and can send devastating shockwaves through the entire financial system.