More News, Rumors and Opinions Tuesday Afternoon 5-30-2023
KTFA:
Clare: The Central Bank announces the purchase of gold of approximately 2.3 tons and maintains its rank globally
5/30/2023
The Central Bank of Iraq announced the purchase of new quantities of gold of approximately 2.3 tons, which resulted in an increase in its holdings of this metal by 1.79%, bringing its total to (132.74) tons, maintaining its sequence in rank (30) in the order of gold holdings. to the countries of the world.
The Investments Department of the Central Bank of Iraq stated that the purchase came with the aim of increasing its holdings of gold in light of the economic and political conditions that the world is witnessing.
It is noteworthy that gold is one of the most important components of the reserves held by banks and international financial institutions, as these banks and institutions constantly increase their reserves of this metal, because of this measure’s positive impact on the financial solvency of these institutions and the creditworthiness of their countries.
The Central Bank of Iraq,
Media Office,
May 30, 2023
Clare: Governor of the Central Bank of Jordan: Iraq's electronic transformation initiative is "promising
5/30/2023 Baghdad
On Tuesday, the Governor of the Central Bank of Jordan, Adel Sharkas, described Iraq's electronic transformation initiative as "promising."
Sharkas referred to "the importance of trade between Iraq and Jordan," expressing "his ambition to increase the export of products to Iraq, as they are of high quality."
He added, "Iraq is moving towards electronic payment, and Jordan has a successful experience in this field, and efforts will be harnessed to support Iraq in order to benefit from the experience in all fields," stressing "the readiness of the Central Bank of Jordan to cooperate in cybersecurity and everything that the Central Bank of Iraq needs."
He pointed out that "Iraq's electronic transformation initiative is promising, in addition to the interest in leadership, which is the focus of the success of any economy." LINK
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Courtesy of Dinar Guru
RayRen98 [via Babysmom] BANK SOURCE CONTACTED [RAY]... THEY ARE SUPER EXCITED ABOUT THIS WEEK, LOOKING FOR LARGE CROWDS TO APPEAR..
Frank26 You know what we're waiting for. I call it the second article from the CBI. Basically it's the announcement to the Iraqi citizens, 'Here is your new national currency. Here are your coins. Here is your new exchange rate.' All these things are going to come about IMO very strongly.
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30 Billion Exits US Banking System as Deposit Flight Grows
Monday, 29 May 2023, 21:0
$30,000,000,000 Exits US Banking System in One Week As Deposit Flight Grows
New numbers from the Federal Reserve show the amount of money people are pulling out of their bank accounts is once again on the rise.
According to stats compiled by the Federal Reserve Economic Data (FRED) system, depositors yanked $30 billion out of American bank accounts from May 10th through May 17th.
That represents an increase of more than $4 billion over the previous week.
The US banking system now has a total of $17.15 trillion in deposits, compared to $18.03 trillion one year ago.
The deposit flight follows the failures of three large regional banks – Signature Bank, Silicon Valley Bank and First Republic.
The Los-Angeles based PacWest, which has been in the spotlight as the latest bank trying to keep afloat, is selling $2.6 billion in real estate construction loans in a bid to improve its balance sheet.
Read full post here: https://dailyhodl.com/2023/05/27/30000000000-exits-us-banking-system-in-one-week-as-deposit-flight-grows/
PREPARE FOR A WORST CASE SCENARIO, BECAUSE THERE IS NO WAY OUT OF IT NOW.
Greg Mannarino: 5-30-2023
Andy Schectman: Gold Rallies Following Tentative Debt Ceiling Agreement
Arcadia Economiccs: 5-30-2023
The gold price is rallying Tuesday morning, following the tentative agreement to the debt ceiling situation, which calls for a suspension of the debt limit until January 1 of 2025.
While the bill still needs to be passed in Congress, the agreement moves the situation one step closer towards avoiding a default on the US treasury debt.
Yet seemingly does little to change the long-term dynamics that include a skyrocketing national debt, and ballooning interest payments on said debt.
With the markets closed on Monday for Memorial day in the US, we're seeing a rally in the gold price (although a flat trading environment in #silver). And Andy Schectman of Miles Franklin checks in to share his thoughts on how the markets are viewing the potential deal, and where that leaves gold and silver going forward.
He talks about how investors are responding to the situation, and also the trend by many states in the US to introduce gold and silver initiatives.
Which even includes Texas moving legislation forward that would create a gold and silver backed digital currency.
So to find out more abut the latest news in the gold and silver markets, click to watch this video now!