More News, Rumors and Opinions Tuesday Afternoon 8-8-2023
Goldilocks' Comment Tuesday 8-8-2023
RJ: Good morning Dinar Recaps,
Did you know old cell phone batteries run on lithium-ion?
If you only knew how much your old cell battery will be worth in the new economy, you would save it.
© Goldilocks
BRICS - Brazil, Russia, India, China, and South Africa - haven’t formally announced the creation of a new currency but more than 40 countries are already indicating their interest to join the bloc according to Anil Sooklal, South Africa’s ambassador to BRICS.
So far, BRICS has not accepted any new members but is already entertaining the possibility of accepting more countries after 22 submitted a formal intent to join and another 22 informally expressed their intention.
Among the countries that submitted applications are Argentina, Bangladesh, the United Arab Emirates, Iran, and Saudi Arabia. There are some European countries too.
There are 69 global leaders invited to the meeting in August which would make the extent of BRICS' potential global influence more tangible.
According to South Africa's Institute for Security Studies, BRICS nations represent 42% of the world's population but have less than 15% of the voting rights in the World Bank and the International Monetary Fund (IMF). BRICS intends to form a bigger coalition so they can address problems that the IMF or the World Bank aren’t addressing. These problems will be discussed extensively in the next meeting.
The ambassador and his counterparts "discussed four broad areas that needed to be addressed to decide on the criteria for expansion" earlier this month, and these four areas will be elaborated upon during a meeting of the bloc's foreign ministers later on Thursday, he said.
Sooklal, however, denied that a gold-backed currency is on the agenda. This contradicts reports by Russia’s state-backed RT news network.
Sooklal said that they are still moving away from the U.S. dollar and that Western sanctions against Russia imposed after the Ukraine invasion are accelerating the transition. Right now, however, they intend to do that by strengthening trade using their local currencies.
BRICS is determined to make it happen. In fact, it was announced that Russian President Vladimir Putin would not attend in person, averting a potential diplomatic crisis as the host country is a member of the International Criminal Court and could be obligated to arrest him over alleged war crimes committed by Russia in Ukraine.
This shows the solidarity of the countries. New currency or not, it is a real threat to the US economy.
https://mail.yahoo.com/d/folders/1/messages/AMwTksAPb0_UZNJK_Qr0sMoq5F8
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Courtesy of Dinar Guru
Militia Man If they issue new notes, 1s, 5s, 10s, 20s, 50s etc alongside the bigger notes they're going to be able to be in country side by side for a period of up to 10 years...
Militia Man Article Quote: "Regarding the increase in the monetary mass, Khalaf stressed that the process of increasing the monetary mass is directly linked to the process of increasing the foreign reserves owned by the Central Bank, so any financing for the public treasury is through the exchange of dollars obtained from oil sales with dinars, and therefore any increase in the dinar mass comes mainly from foreign currency...There is no fear of any increase in the monetary mass." There we have it. The Central Bank is not going to increase the monetary mass. There should be no fear of any increase in it from here on out. The CBI is giving reassurances to the citizens on that matter.
Situation Critical: U.S. BANKS GET DOWNGRADED! RATTLES MARKETS... BE READY FOR MORE.
Greg Mannarino: 8-8-2023
U.S. Debt Explosion Guaranteed - They Just Did It!
Sean Foo: 8-8-2023
A US debt implosion is guaranteed as the Treasury keeps selling bonds ramping up deficit spending. However, this borrowing now affects the longer-term bonds which traps America into a debt crisis which will be near impossible to dig out of.
Inflation won't stop and here's what you must know!
Timestamps & Chapters:
0:00 Treasury Bond Disaster
2:36 America Can't Stop Spending
4:57 Corporate Bond Crisis Building
7:19 The Economy At Risk
9:55 Inflation Won't End
12:25 Crash Or Meltup?