TNT, Lynette Zang, Max Keiser and more Tuesday Morning 7-21-2020
TNT:
Truckerbabr67: Interesting call with my Credit Union
I just called my credit union to ask about a letter i received in mail about last month credit card payment stating showing my payment is late? ( my bill is always due on the 20th )
But saying if already paid ignore this ? & as i was having to call for other banking biz anyways & explained i did pay on time? & asked her why they sent that letter out?
Because they never have sent that out before?
She explained it was because they changed over to a new banking system???
That really got my attn?!!! Because i have been hearing about the banks changing from swift to the QFS & would happen right before the RV / GCR ?
Anyways might not mean anything but it really got my attn.
Tishwash: Iraq: Disclosure of a shocking number for the amount of money smuggled abroad and an expert proposes a "deal" to recover
The economic expert, Abdul Rahman Al-Mashhadani, revealed today, Monday, the amount of money smuggled abroad that divides between laundering and illegal operations estimated at at least $ 250 .billion, while stressing that the process of recovering it is risky and requires an international effort
Abdul Rahman al-Mashhadani said, in a televised statement I followed (Baghdad Today), "The endeavor to amend the Financial Management Law is not useful, because it was modified at the end of last year to allow the government to work in the absence of a budget by disbursing funds in the base of 1/12, that is, the monthly disbursement of funds According to the nearest budget approved to .proceed with investment projects for which amounts will be disbursed later
Al-Mashhadani added, "Any new amendment will weaken the role of the government and the Ministry of Finance in passing its budgets in general because the government cannot operate without a budget, and also a parliament that will not be able to monitor achievement rates without adopting a plan or budget," noting that "failure to approve a state budget In 2014, he overshadowed the " .performance of the Ministry of Finance since that day
He continued: "A budget must be organized in actual disbursement from January 2020 until July, to which estimates are added to the total budget. According to my estimate, it should be in the range of 65 trillion dinars to cover operating expenses and even the deficit will coincide with the deficit rate specified in the Financial Management Law," noting that "oil prices Stable at about $ 40 a barrel, and it is assumed that its price in the budget will be set at $ 35, and here the gates of exchange will be .clear until the end of the year
And on the money smuggled outside Iraq, the economist said, "The money smuggled abroad is estimated between money laundering and illegal operations estimated at the limits of at least 250 billion dollars and may reach 350 billion and it is present in the Arab neighboring countries as well as ".many countries of the world
And on the possibility of recovering the smuggled money, he stressed that "the recovery of those funds is risky and requires an international effort and cooperation with international organizations, as well as cooperation with international offices for research and investigation to find these funds and ".then return them, and the matter needs at least five years
The economist pointed out that "the state of Morocco carried out an experiment in which the smugglers of money smuggled in to drop claims against them in exchange for returning half or one third of that money, and this matter is faster than research and investigation and assigning ".authorities to follow up because the matter may extend for years link
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Courtesy of Dinar Guru
Pimpy Article: "Iraq receives international support to remove its name from the list of high-risk countries" Right here we have one group of people saying they have removed Iraq off a special list blacklisting them and then we have the EU saying they have blacklisted them. Here's the thing, don't be confused by them. All that's really gonna matter is what Trump says... Quote: "..Iraq receives support from some European counties to remove its names from the list of high-risk countries." This is good for them...one group said let's remove them. The other group said, no we're gonna keep them on there. Now we have this...it looks like indeed they're about to be removed. So this is all good news. This is what we're looking for. This is a step in the right direction.
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Lynette Zang
SOCIAL SECURITY, PENSIONS, 401K’S… Q&A WITH LYNETTE ZANG
Streamed live 98 minutes ago
Some of today's questions:
JW: do you think social security will still be around after the reset?
Chris T: I am starting my 19th year contributing to the Mississippi state pension plan as a teacher. How at risk are state government pensions? We historically have been a solid pension plan.
Laurie: How would you counsel those of us who will need to buy residential property/acreage in the coming year? I’m so nervous about potentially rising interest rates, crazy economic conditions, etc.
Chris H: I recently borrowed money from my 401k and purchased gold coins from ITM. What should I invest the rest of my 401k balance into?
Idaho Doc: just about every nation is printing huge sums of money to bail out their economies. We’ve been told again and again that this money printing will lead to hyper-inflation. This would mean that all these countries are headed for hyper-inflation. Has there ever been a time when just about all the nations’ economies simultaneously experienced hyper-inflation? If so, how did it end?
Keiser Report | Economic Blitzkrieg? | E1569
We have had a pile of debt since 1971……The Global Pile of Debt is blowing up
Jul 21, 2020
In this episode of Keiser Report, Max and Stacy discuss the U.S. Attorney General, Bill Barr, accusing China of ‘economic blitzkrieg.’ - “an aggressive, orchestrated, whole-of-government (indeed, whole-of-society) campaign to seize the commanding heights of the global economy and to surpass the United States as the world’s pre-eminent superpower.”
Is that what happened? Or did U.S. corporations willingly and actively send US manufacturing capacity to China?
In the second half, Max interviews financial journalist, Ran NeuNer, about his observations of the pandemic hit economy in Manhattan where shops are boarded up and shared workspaces are empty. They also compare the response in the U.S. to other countries around the world.