Andy Schectman: Russia Responds With $440 Million Sanction On JP Morgan Assets

Arcadia Economics:  4-30-2024

There’s a growing chance that a few decades from now we’ll look back at what happened on March 11, 2022, when Russia was kicked out of the SWIFT system, as one of the major turning points of our modern financial system.

At that point the US had already frozen over $300 billion of Russian assets after Russia’s invasion into Ukraine. And following the decision to remove Russia from SWIFT, we’ve seen an acceleration of the de-dollarization movement, as other countries have wondered whether they could be next.

 Now the US is considering sanctions against China, while moving legislation forward to confiscate the frozen Russian assets, and Russia has responded by sanctioning $440 million of JP Morgan assets.

KTFA:

Clare:  Financial inclusion organizes various events in Muthanna Governorate

4/30/2024

The Financial Inclusion Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.

The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.

It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.

BRICS: $260 billion in trade without a single dollar

Mon 29 Apr 2024 – by Luc Jose A., Cointribune

As the American debt’s wild growth of more than 34,600 billion dollars continues to raise concerns, the BRICS deliver another blow to the greenback. China and Russia, two founding countries of the alliance, plan to conduct 260 billion dollars of trade without resorting to a single American dollar. Only Russian ruble, Chinese yuan, and a little bit of euro.

Other members of the coalition are expected to follow suit soon. Perceiving the immediacy of the threat, the USA reacts by combining threats and diplomacy.

New Gold Standard Actually Seems Like A Possibility Today—Here's Why

Forbes Breaking News: 4-29-2024

Steve Forbes explains how a new gold standard may be taking hold across the globe, and why this is a very, very good thing for the economy.