More News, Rumors and Opinions Sunday Afternoon 9-26-2022
.KTFA:
Samson: An economist explains how to control the currency sale auction
25th September, 2022
The economic expert, Abdul Salam Hassan, explained that the currency sale auction can be controlled through the government's move towards equalizing the value of the dinar with the dollar or making it close to the dinar, pointing to the difficulty of stopping this auction, especially with the presence of dominant parties on the scene.
Hassan told Al-Maalouma, "The currency auction cannot be stopped, and there is no law preventing its work, as it is supported by the World Bank, despite corruption and the parties' control over it to achieve personal benefits."
KTFA:
Samson: An economist explains how to control the currency sale auction
25th September, 2022
The economic expert, Abdul Salam Hassan, explained that the currency sale auction can be controlled through the government's move towards equalizing the value of the dinar with the dollar or making it close to the dinar, pointing to the difficulty of stopping this auction, especially with the presence of dominant parties on the scene.
Hassan told Al-Maalouma, "The currency auction cannot be stopped, and there is no law preventing its work, as it is supported by the World Bank, despite corruption and the parties' control over it to achieve personal benefits."
He added that "most countries work with currency auctions or the so-called economic colonialism, and countries take it for financial investment and a window to extract the currency, but the work of this auction in Iraq cannot be legalized or stopped under the pretext of continuing import, and this matter needs more currency."
And he indicated that "the increase in the amounts of currency sale came as a result of the increase in the exchange rate of the dollar against the dinar, as it achieves greater benefit through the currency sale auction, and the government can control this matter and reduce the amounts sold in the auction by making the value of the dollar close to the dinar and thus the two values are equal or may the difference is very simple." LINK
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Samson: In a week... the Iraqi Stock Exchange is trading shares with more than 8 billion dinars
25th September, 2022
The Iraq Stock Exchange announced today, Sunday, the trading of shares with a financial value of more than 8 billion dinars during the past week.
The market said in a report seen by Shafak News Agency, "The number of companies whose shares were traded during the past week amounted to 59 joint stock companies, while the shares of 41 companies were not traded due to the lack of convergence of purchase orders prices with sales orders, while 3 companies continued to stop for not providing disclosure out of 103 companies." listed on the market.
He added that "the number of traded shares amounted to 31 billion and 516 million and 278 thousand shares, an increase of 698% compared to the previous week, with a financial value of 8 billion and 973 million and 812 thousand dinars, an increase of 74% compared to the previous week, through the implementation of 2223 deals." Noting that "the ISX60 traded price index closed at 594.20 points, recording a decrease of 0.31% compared to its closing in the previous session."
He pointed out that "the number of shares purchased from non-Iraqi investors for the past week amounted to 69 million shares, with a financial value of 223 million dinars, through the implementation of 44 deals, while the number of shares sold from non-Iraqi investors reached 249 million shares, with a financial value of one billion and 586 million dinars through Execution of 186 transactions.
It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels and services.
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Courtesy of Dinar Guru
Fleming ...we are being told notifications are supposed to be out Monday with exchanging and redeeming for 12 days. The redemption centers are going to run 20 hours a day to get this done... I have not been able to verify that completely...so we are waiting to see if that comes to fruition...
Nader From The Mid East Article: "The Iraqi Prime Minister, Mustafa Al-Kazemi expected, on Friday, to increase the country's cash reserve to reach $100 billion" By December we reach 120 billion. It's gonna be one of the biggest reserves in the world by 2023...
ALERT! Q&A: CBDC's, Collapsing Markets & Scenario Planning to Restart America!
(Bix Weir) 9-24-2022
Here's a live Q&A from the Sonoma show where we talk about CBDC's, Collapsing Markets & Senario Planning to Restart America!
MARKETS A LOOK AHEAD: Very Important Updates On The Markets And MORE.
Greg Mannarino: 9-25-2022
News, Rumors and Opinions Sunday Morning 9-25-2022
.KTFA:
Samson: Al-Kazemi arrives in Baghdad from New York
25th September, 2022
The Iraqi Prime Minister, Mustafa Al-Kazemi, arrived today, Monday, in the capital, Baghdad, from New York, after participating in the meetings of the United Nations General Assembly.
On September 19, Al-Kazemi went to New York City, and during this visit he held meetings with a number of world leaders, and participated in the meetings of the United Nations General Assembly in place of the President of the Republic, Barham Salih. LINK
KTFA:
Samson: Al-Kazemi arrives in Baghdad from New York
25th September, 2022
The Iraqi Prime Minister, Mustafa Al-Kazemi, arrived today, Monday, in the capital, Baghdad, from New York, after participating in the meetings of the United Nations General Assembly.
On September 19, Al-Kazemi went to New York City, and during this visit he held meetings with a number of world leaders, and participated in the meetings of the United Nations General Assembly in place of the President of the Republic, Barham Salih. LINK
Samson: Tomorrow, Monday..Lebanese banks reopen their doors after being closed due to intrusions
25th September, 2022
The Association of Banks in Lebanon announced, on Sunday, the resumption of work in banks, starting from tomorrow, Monday, after closing due to a series of intrusions, noting that this will be done through channels determined by each bank.
In a statement received by Shafak News Agency, the association said that it held a meeting in which it deliberated on the need to ensure the continuity of customer service, taking into account the current security conditions and the need to maintain the safety of customers and citizens.
She pointed out that this process "will take place through channels determined by each bank for the operations of commercial, educational, hospital and other institutions through ATMs for all."
The association explained that "this will allow citizens to conduct deposit and withdrawal operations and secure public sector salaries after transferring them to banks from the Banque du Liban and the salaries of the private sector domiciled in them."
Lebanon witnessed an uprising of depositors in banks, after carrying out about seven raids of several banks in different regions, and as a result, the Association of Banks announced the closure for a period of three days. LINK
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Courtesy of Dinar Guru
Frank26 They are in a fantastic position to tell the international world, 'We're article VII. We're international. We don't have any restriction on our currency. You can bring your currency into our banks. Our banks are now modern and ready to go. Nobody is going to touch your money. We protect it...'
tlm724 Article: "Al-Kazemi: Changing The Dollar Exchange Rate Against The Dinar Is The Most Successful Decision" Quote: "Prime Minister Mustafa Al-Kazemi confirmed that changing the exchange rate of the dollar against the dinar is the most successful decision taken by his government...thanks to the white paper, the Iraqi economy will witness reforms."
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Banking Crisis will Start in Europe – Martin Armstrong
Greg Hunter’s USA Watchdog: Published September 24, 2022
https://rumble.com/v1lf2c5-banking-crisis-will-start-in-europe-martin-armstrong.html
The Dollar Is Destroying Global Currencies - And It Won’t Stop
Sean Foo: 9-25-2022
The US dollar is still soaring and this is causing global currencies to depreciate. The Yen is down, the Euro is down, the Rupee is down and this currency devaluation is going global. However, the effects of this currency crisis will boomerang back and hit the US economy.
Countries are in a scramble for cash and they are getting rid of the US dollar. But it gets worse, as winter approaches, we might see a further collapse in currencies globally. The dollar's rise isn't over just yet!
Japan Just Kicked Off Global Treasury Dump
Heresy Financial: 9-25-2022
It's happening… maybe. Japan might have just started the global treasury liquidation.
We've been talking a little bit on this channel recently about how the United States Treasury is the foundation of the entire global financial system.
But what happens when you build your house on a foundation of sand? Eventually, the house comes crumbling down, and the way that starts in the financial system is by the world getting rid of Treasurys.
Japan has historically been one of the largest treasury holders. They have not been buying them recently. And now, because of the problems with their currency, they've intervened to stop the collapse of their currency.
And they may have just started at the beginning of the end of the current global financial system.
Timecodes
0:00 Video Overview
0:52 Intro
1:00 Japan Bonds Face Liquidity Stress
2:32 Japan Intervenes to Stop Yen Slide
5:46 Japan Starts Dumping US Treasuries
10:39 Outro
More News, Rumors and Opinions Saturday Afternoon 9-24-2022
.Note: All intel should be considered as "Rumors" until we are making exchange appointments...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
Emailed To Recaps
Rumors RePosted by PhilG: There will be a liquidity and credit crisis as banks and online payment systems are about to suffer a huge outage in Europe and the United States. There are already talks of a liquidity and credit crisis happening in inner circles. This is big.
Saturday- Banks and online payment systems will suffer an outage in Europe and the United States spreading worldwide. Talks of a Liquidity and credit crisis happening will spread rapidly.
Sunday- Customers will try to get money from banks but will be turned away. Talks of bank runs on twitter and facebook will be promptly banned. Late-Sunday night Euro-zone banks will suffer a liquidity issue and fail critical margin levels.
Note: All intel should be considered as "Rumors" until we are making exchange appointments...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
Emailed To Recaps
Rumors RePosted by PhilG: There will be a liquidity and credit crisis as banks and online payment systems are about to suffer a huge outage in Europe and the United States. There are already talks of a liquidity and credit crisis happening in inner circles. This is big.
Saturday- Banks and online payment systems will suffer an outage in Europe and the United States spreading worldwide. Talks of a Liquidity and credit crisis happening will spread rapidly.
Sunday- Customers will try to get money from banks but will be turned away. Talks of bank runs on twitter and facebook will be promptly banned. Late-Sunday night Euro-zone banks will suffer a liquidity issue and fail critical margin levels.
Monday 26th- Liquidity crisis contagion will spread to the United States. Financial instruments much like those used by Archegos will blow up across the entire financial sector. Bank of America, JP Morgan, and Goldman Sachs are rumoured to be insolvent along with others. The Super Rich will attempt to pull their money out of the banks only to be denied. Stock market will drop 20% and is closed for the day. Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless.
Tuesday- Eurozone total melt down. Social protests erupt. U.S. stock market will drop another 20% before being halted for the day again. Hedge funds will collapse and banks are stuck with meme stock shorts which will be revealed to be in the trillions. Banks fail critical margin levels and the DTCC will be forced to cover the shorts. DTCC insurance policy will fail as the insurers never had money to begin with and the Federal Reserve is stuck with the bag.
Wednesday- Stock market will drop another 20% before getting stopped. Subprime finally hits and housing prices crash by 50% and more. Meme stock, silver, gold, commodity trading is frozen and halted but this will only make the problem worse. Dollar insolvency is all over international news, while silver and gold skyrocket. U.S bonds will be dumped sending interest rates into the stratosphere. Mainstream media will now blare the Great Depression 2.0 and the collapse is here.
Thursday- U.S. government will begin to collapse and pressure on the current Admin to resign. Stock market will drop even more for a total of 85-96% since the crash on Monday. Grocery stores will now be empty as supply chains completely break down. Rumours of a coup against the U.S. government will begin to pick up on social media and gain public approval. Massive protests against the government, wallstreet, and the banks will erupt. Police will be deployed and attempt to brutally suppress the protests but they will be unsuccessful.
Friday- Government figures will go into hiding. Meme stock and silver/commodities shorts issue reaches international media and heads of state will demand answers from the U.S. because they too are exposed through weird financial instruments. BRICS will pick up steam to replace the dollar then and now. Dollar is declared non-grata in many countries in the world with legislation fast tracked to convert dollar denominated debt to other fiat to prevent a total credit freeze.
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Courtesy of Dinar Guru
Frank26 They're constantly almost on a weekly basis telling you we found another oil well. Your whole country sits on oil. You can plant the flag of your country anywhere and oil squirts out.
Samson Article: "Al-Kazemi expects an increase in Iraq's cash reserve, and it will reach $100 billion" Quote: "The cash reserve under our government has reached 86 billion dollars, and it is expected to increase to 100 billion dollars. Al-Kazemi stated that Iraq has achieved the largest and fastest economic growth and has become the first in the Middle East and fifth in the world."
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KTFA:
DoTalkToMe: The question I have that no one knows the answer to.
Will they use the RI to rescue the world from a financial collapse, or will they allow the crash and RI after the dust settles.
I am leaning towards scenario #1
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Samson: Al-Kazemi: Iraq is continuing its economic reform
24th September, 2022
Prime Minister Mustafa Al-Kadhimi met, on Friday, in New York, with Dutch Prime Minister Mark Rutte, on the sidelines of participating in the meetings of the United Nations General Assembly.
During the meeting, they discussed relations between Iraq and the Netherlands, the overall Iraqi relations with the European Union countries, and cooperation in the fight against terrorism and the pursuit of ISIS remnants.
The two sides discussed ways to enhance bilateral cooperation in various economic and investment fields, development fields, confronting the effects of drought, working to develop water treatment methods, and adopting modern methods of irrigation, as part of efforts seeking to meet the challenges of climate change.
The Prime Minister stressed during the meeting that Iraq is proceeding with economic reform; This enabled it to achieve important growth rates, mitigate the impact of global crises and the effects of the Corona pandemic, and that Iraq has initiated important and strategic programs and projects to advance the Iraqi economy.
Media Office of the Prime Minister
September 24 – 2022 LINK
Clare: I BELIEVE KAZEMI!!! HE WILL FINISH THE MONETARY REFORM.... IMO
Simultaneous rate hikes to trigger 'string of financial crises'
Kitco News: 9-24-2022
After a failed attempt to rise back to $1,700 an ounce, gold is trading at the lowest levels since April 2020. And analysts say the worst is not over as there is a major risk that gold can drop below $1,600 an ounce.
Here's a look at Kitco's top three stories of the week:
3. Swiss imports of Russian gold hit highest levels since April 2020 https://www.kitco.com/news/2022-09-20/Swiss-imports-of-Russian-gold-hit-highest-levels-since-April-2020.html
2. Gold price jumps as Fed's Powell talks chance of recession and restrictive rates https://www.kitco.com/news/2022-09-21/Gold-price-jumps-as-Fed-s-Powell-talks-chance-of-recession-and-restrictive-rates.html
1. Simultaneous rate hikes could lead to a 'string of financial crises,' warns World Bank https://www.kitco.com/news/2022-09-19/Simultaneous-rate-hikes-could-lead-to-a-string-of-financial-crises-warns-World-Bank.html
ALERT! End Game Moves to Survive the Eminent Collapse! (Bix Weir & Will Lehr)
9-22-2022
I sat down with my friend Will Lehr to talk about the coming collapse and how people can financially survive the coming INSANITY!
News, Rumors and Opinions Saturday 9-24-2022
.KTFA:
Samson: List of governorates that have suspended work tomorrow, Sunday, until now
24th September, 2022
The administrations of 5 Iraqi governorates announced the suspension of official working hours on Sunday, on the occasion of the anniversary of the death of the Prophet Muhammad (peace be upon him)
According to official data, the governorates of Najaf, Karbala, Muthanna, Maysan and Wasit decided to suspend official working hours on Sunday, on the occasion of the anniversary of the death of the Prophet Muhammad (PBUH) LINK
KTFA:
Samson: List of governorates that have suspended work tomorrow, Sunday, until now
24th September, 2022
The administrations of 5 Iraqi governorates announced the suspension of official working hours on Sunday, on the occasion of the anniversary of the death of the Prophet Muhammad (peace be upon him)
According to official data, the governorates of Najaf, Karbala, Muthanna, Maysan and Wasit decided to suspend official working hours on Sunday, on the occasion of the anniversary of the death of the Prophet Muhammad (PBUH) LINK
Wolverine:
Just In: Gentlemen, tomorrow there will be an eventuality at a global level, which will give way to liquidity next Tuesday, so from now on absolute silence. Message from a secure source.
I recommend you withdraw money from their banks since there is going to be a worldwide collapse. This is the historical step worldwide…. From a very high source.
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Courtesy of Dinar Guru
Frank26 Article: "The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development" The IQD prepares to float and the 3 reserves is just the tip of the Iceberg of Monetary reform...this is amazing! Notice all the article are encouraging. Notice none of them are negative...
Walkingstick [via Frank26] World banks have recognized the IQD as a potential Middle East currency to used to invest in...The Middle East knows what the Iraqi currency is about to do. They know it's potential. They know that they have to use it, to invest in it, to buy with it, to sell with it, to protect it. Wow to the IQD being used! But DOUBLE WOW to see the IQD back in the SDR of the IMF! This is a very big deal...this is a big step to the final step.
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RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 23 Sept. 2022
Compiled Fri. 23 Sept. 2022 12:01 am EST by Judy Byington
Global Currency Reset:
As of Tues. 13 Sept. 2022 the Federal Reserve and their Central Banks were officially Bankrupt: Watch for Runs on Banks and Bank Closures.
On Mon. 19 Sept. Global Elites attending the funeral of Queen Elizabeth were briefed by the Alliance on the upcoming collapse of their governments and banking systems, which would lead to Debt Relief for The People
Bruce: The schedule for Redemption Centers looks like they won’t be open until the weekend – likely by Charlie Ward’s announcement of NESARA/GESARA on Sat. 24 Sept. Tier 4B should be notified this weekend and has to get started by the end of the month (between the 25-28 Sept). Exchanges for the General Public will start around Oct 2, 3.
New gold/asset-backed Global Monetary System set for the beginning of the new fiscal year on Sat. 1 Oct. 2022.
Jan 1st 2023 = (117) GESARA NESARA implementation?
Read full post here: https://dinarchronicles.com/2022/09/23/restored-republic-via-a-gcr-update-as-of-september-23-2022/
Lyn Alden: The Top 3 Central Banks Just Sold This ENTIRE US Government Asset, Triggering A Meltdown
Two Dollars ‘Investing: 9-22-2022
Lyn Alden: The Top 3 Central Banks Just Sold This ENTIRE US Government Asset, Triggering A Meltdown Lyn Alden predicts what would happen when the us dollar is too strong
ALERT! All Silver Data Points to the End of Silver Manipulation & $1,000+/oz Fair Value!!
(Bix Weir) 9-24-2022
This is the end game. "They" can place the price of Silver at -$40 or $1M with a click of a mouse BUT they can't create physical silver out of this air!!
We are in the "Sweet Spot" for the collapse of the Global Fiat Monetary System so hang on tight!!
Align Yourself With The Trajectory Of The World
.Align Yourself With The Trajectory Of The World
Notes From the Field By Simon Black September 23, 2022
John Adams famous wrote to his wife Abigail in the year 1780: “I must study politics and war, that my sons may have the liberty to study mathematics and philosophy. . . in order to give their children a right to study painting, poetry, and music. . .”
So that their children can major in gender studies and waste their lives on Tik Tok.
OK so I added that last part myself. But I believe the quote most accurately sums up the natural decline of empire.
Align Yourself With The Trajectory Of The World
Notes From the Field By Simon Black September 23, 2022
John Adams famous wrote to his wife Abigail in the year 1780: “I must study politics and war, that my sons may have the liberty to study mathematics and philosophy. . . in order to give their children a right to study painting, poetry, and music. . .”
So that their children can major in gender studies and waste their lives on Tik Tok.
OK so I added that last part myself. But I believe the quote most accurately sums up the natural decline of empire.
When enough time passes, a dominant superpower begins to lose the cultural traits that made it great to begin with. Instead of being energetic, ambitious, and hungry, the population becomes complacent.
Meanwhile, hard-working rivals become wealthier by the day… rising, ascending, and eventually eclipsing the declining superpower.
History has been witness to this natural cycle over and over again, from the ancient Greek conflicts between Athens and Sparta, to the decline of France and rise of Great Britain in the 1700s.
The United States is the modern superpower that is now in obvious decline; we write about this all the time at Sovereign Man, so this should hardly be a controversial statement. As former US Treasury Secretary Larry Summers once said, “There is surely something odd about the world’s greatest power being the world’s greatest debtor.”
And he’s right. The economic and financial data are clear: the US has enormous debts, huge deficits, awful inflation, and insolvent pension funds (like Social Security). The social divisions are palpable. Trust levels in institutions, government, and corporations are at historic lows.
It’s true that the US has been divided before. And the US has also seen its share of financial crises.
But simply put, America has never been battered simultaneously by so many debilitating trends. This is truly new territory for the world’s dominant power.
Now, it’s important to not get emotional about US decline. We’re talking about facts and doing our best to make a rational analysis.
And one of my conclusions is that we may be experiencing the end of an era.
For the past several decades, the US was the undisputed global superpower. And there was a great deal of peace and prosperity in the world.
After all, so many countries-- China, India, Russia, etc. were getting rich selling their products and resources to the United States. Who would possibly want to screw up that balance?
We’ve seen this same cycle over and over again throughout history: peace and prosperity go hand and hand.
But things are different now. Other countries are stronger than they used to be. The US is much weaker. The power dynamics have been disrupted… and the cycle of peace and prosperity is being displaced by chaos and conflict.
This is our topic for today’s podcast.
We start in ancient Rome and discuss how the unparalleled dominance of the Roman Empire in the early 1st Century brought an unprecedented period of stability, peace, and prosperity to the western world.
Frankly it’s quite similar to what we enjoyed for the past 30 years.
But the Pax Romana, as this period is known, did not last. Neither is the Pax Americana.
We see chaos and conflict all over the world now… much of it due to the decline of the US, much of it due to bonehead incompetence from the supposed ‘experts’ who run the show.
And this new era of chaos and conflict has some pretty serious implications.
Don’t worry-- it’s not the end of the world. In fact, there are some really interesting opportunities for anyone with the independence of mind to look at these facts and trends rationally.
And we discuss some of these in today’s podcast, including things like real assets, and investing in neutrality.
I explain, for example, what today would be the equivalent of having a Swiss passport in 1935. Or which specific asset classes are extremely relevant in a world where resource nationalism is a real possibility. And how cryptocurrency fits in to a cycle of chaos and conflict.
These big picture trends are all very clear-- it’s the obvious trajectory of the world right now. And it makes a lot of sense to align yourself with that trajectory of the world.
You can listen in to the podcast here.
To your freedom, Simon Black, Founder, SovereignMan.com
https://www.sovereignman.com/podcast/align-yourself-with-the-trajectory-of-the-world-37621/
More News, Rumors and Opinions Friday Night 9-23-2022
.KTFA:
Samson: Why is Iran turning to a new ‘digital rial’?
20th September, 2022
A national digital currency is coming to Iran, with the country’s central bank planning to launch a pilot “digital rial” project in the coming days.
The central bank digital currency (CBDC), which has also been referred to as the “crypto rial”, is expected to remain pegged at a 1:1 ratio to the rial, the national currency.
It is a project officials hope could significantly increase their control over the national currency and its users while offering new opportunities to financial actors.
KTFA:
Samson: Why is Iran turning to a new ‘digital rial’?
20th September, 2022
A national digital currency is coming to Iran, with the country’s central bank planning to launch a pilot “digital rial” project in the coming days.
The central bank digital currency (CBDC), which has also been referred to as the “crypto rial”, is expected to remain pegged at a 1:1 ratio to the rial, the national currency.
It is a project officials hope could significantly increase their control over the national currency and its users while offering new opportunities to financial actors.
Slapped with harsh United States sanctions imposed after former President Donald Trump unilaterally withdrew from a 2015 nuclear deal with Iran, when cryptocurrency was reaching highs in 2018, some officials in Tehran saw the potential of cryptocurrencies to circumvent sanctions – although that will not be the case with the digital rial, as it will only be used inside Iran’s border.
And some of the very same potential alternatives that have gotten proponents excited have led to concerns among members of the local crypto community, who fear the project could endanger privacy and security.
The digital rial will run on a platform called Borna, which was developed using Hyperledger Fabric, the open-source enterprise blockchain platform established by US technology giant IBM.
It is a permissioned distributed ledger technology (DLT) platform, which means only the central bank can decide which entities will have access, and also means the currency cannot be mined like Bitcoin and many other decentralised cryptocurrencies.
The structure allows a few select banks to maintain and update the network’s distributed ledger, where an immutable record of all transactions and activities is kept. Other entities might also be granted access in the future.
Bank users are expected to be able to hand over their rials – either in banknotes or in their accounts – to the banks in exchange for the same amount of the new digital rials that will be stored in their mobile phone wallets.
More transparency
According to Saeed Khoshbakht, one of the people who worked to develop Borna, the project is unprecedented in Iran and will provide a precedent for further projects in the future.
He also said that, even though the project was highly centralised, it would allow for more banks to get involved in the previously mentioned distributed ledger, potentially allowing for more transparency.
“For now, at least four more nodes will be designated to handle the distributed ledger. It’s true that they’re also banks, but instead of being focused in a single point, the data will now be placed across at least five points, and that number could gradually grow if the project is successful,” he told Al Jazeera.
Financial-technology companies will eventually be expected to offer rial-based financial services online, meaning that a central bank-approved pegged asset – a rial “stablecoin” – will be necessary.
While not included in its initial limited public launch later this month, Borna also foresees a competitive layer, where companies could offer services within the framework of the platform, potentially easing red tape.
Khoshbakht added, that if executed correctly, Borna could also create a chance for banks and fintechs to gain access to new fee-based revenue streams, potentially overhauling the current limited fee-based services, which have for years been a thorn in the side of cash-strapped Iranian financial services providers.
Lastly, a wide variety of smart contracts, self-executing contracts that can be automatically implemented, could be deployed on the platform, something that has yet to find widespread use across the Iranian economy.
Potential dangers
Dozens of central banks across the globe are working on their own CBDCs, and the main concern everywhere appears to be their potential impacts on citizens’ privacy.
In its draft document, the Iranian central bank acknowledges that privacy is a concern, but also points out that anonymity would add to money-laundering concerns.
“Selecting an optimal point between these two components can be one of the considerations in developing the digital rial,” it said, without elaborating.
For some members of the local cryptocurrency community, potential violations of their right to privacy are huge concerns.
The current local online banking and tax and other online record-keeping systems provide Iranian authorities with enormous supervision capabilities, but a digital rial could further expand and accelerate them, according to Hamed Salehi, a researcher who runs the crypto and blockchain-focused media and events firm BlockDays.
“This digital fiat money can be a major step and an additional way toward violating the people’s privacy and social freedoms,” he told Al Jazeera.
“For example, during the [November 2019] protests you would lose your internet and phone connectivity if you were in areas where protests were ongoing. Now, what could happen is that in addition to that, the establishment could also restrict or block your money and financial transactions based on your activities.”
Salehi also believes that the pervasive nature of malicious software in Iran could mean that hacked phones could be used to attack the digital rial app.
Effect on economy
The digital rial could end up being linked with efforts to tame Iran’s rampant inflation, which now stands at more than 40 percent.
A chief factor behind the country’s runaway inflation for decades has been a lack of financial discipline, resulting in unchecked money printing to help with perennial budget deficits.
A digital version of the country’s currency could prove to be an economic opportunity or a threat, according to electronic banking expert Nima Amirshekari.
“If implemented correctly, the project can help prevent inflation, only in the digital sector. Inflation comes from money creation, unchecked loans and unbacked money, so if you take away money in circulation and issue the same amount in digital rials, then it can help with inflation, on the condition that you can’t use the digital rial to allocate loans and credits [which would increase the amount of digital rials in circulation].”
The central bank Vice Governor for New Technologies, Mehran Mahramian, has indicated that loans are part of the process, telling state television the digital rial could help ensure that loans are invested where they are meant to be.
But Amirshekari said the same issues that have caused large amounts of non-performing loans (NPLs), bank loans that have been repaid late or are unlikely to be repaid, another longstanding problem for the Iranian banking system, could affect the digital rial.
“Authorities already know where loans go across the banking system. The issue of our NPLs is that they’ve been taken out by people or organisations who are powerful enough that they can refrain from returning the money. The same thing can happen with the digital rial.”
Amirshekari said one benefit of the project could be to increase the knowledge and expertise of the central bank on global cryptocurrencies, in turn positively hitting its regulatory stance.
A state of lawlessness and confusion has reigned over the local cryptocurrency scene for the past few years.
A central bank directive banned credit institutions and currency exchanges from handling crypto in 2018, and there have been crackdowns on crypto exchanges, but technically there has been no law to forbid the average citizen from trading. “I hope it could teach them to employ chain analysis and other technical methods to exert supervision, so they can draft useful regulation instead of outlawing or forbidding everything,” Amirshekari said. LINK
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Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The banks are putting signs out again in their windows about the open house they are inviting us citizens to next Monday. They're telling the citizens to coming in and to open accounts...and get our cards. They're talking about loans...all of this is part of a new strategy to grow Iraq's economy... FRANK: The CBI prepares you to use the new small category notes inside of your country...the same way that they have prepared the international banks to use the new small category notes in their country outside of Iraq's borders internationally...the next step will occur after Kazemi returns from New York...
Mnt Goat ...Iraq continues with this election saga. The Sadr protest deadline of Oct 1 is nearing and they told us they won’t even have the meeting with Sadr until next week...I do not believe Sadr is going to bend this time. He would rather tear apart the political system, expose the corrupt and rebuild it without Iran and their puppets. This may very well happen... [post 1 of 2....stay tuned]
Mnt Goat It won’t be very good for us investors looking for the reinstatement but at least now the process is in motion. Too bad it was not put in motion a couple years ago as we might have been to the bank by now...Many things besides the Iraqi RV are in motion to get us to where we want to have the project to delete the zeros and then the reinstatement. [post 2 of 2]
Global Crisis Is Here... Dam Is Ready to Break in Financial Markets
Stansberry Research: 9-23-2022
The Fed's efforts are futile since we're already in the early stages of a global crisis, asserts Bert Dohmen, founder and president of Dohmen Capital Research.
He tells our Daniela Cambone that the ongoing Russia-Ukraine war marks the first of what will be many conflicts moving forward as the global financial markets remain in disarray. "We have to get ready for the worst, we can't change what's happening, but we can protect ourselves," Dohmen says.
He concludes by touting natural gas stocks as a sector to explore for lucrative gains amid today's rampant inflation because," it's designed to go up in times of crisis."
Europeans can't pay heating bills, 'huge crisis' to spark 'social unrest'? - Willem Middelkoop
Kitco News: 9-23-2022
Willem Middelkoop, Founder and COO of the Commodity Discovery Fund, talks about the energy crisis in Europe, the potential for more social unrest, and which metals will be in high demand in the future. He spoke with David Lin, Anchor and Producer at Kitco News.
0:00 - Europe's energy crisis
11:30 - Economic war and reset
18:20 - Gold
21:51 - New reserve currency?
23:44 - Rare earth minerals and base metals
27:27 - Geopolitical factors
30:31 - Investment implications
Economic Thoughts From Andy Schectman and Grag Mannarino 9-23-2022
.There's A Financial Storm Brewing | Andy Schectman
Liberty and Finance: 9-22-2022
Many people are sensing there's a financial storm brewing, says Andy Schectman, CEO & president of Miles Franklin Precious Metal Investments.
He discusses how to reduce counter-party risk. He says it is imperative to "trust your gut" and do what will enable you to sleep well at night. If you don't feel safe with keeping savings in the banking system, take action now.
There's A Financial Storm Brewing | Andy Schectman
Liberty and Finance: 9-22-2022
Many people are sensing there's a financial storm brewing, says Andy Schectman, CEO & president of Miles Franklin Precious Metal Investments.
He discusses how to reduce counter-party risk. He says it is imperative to "trust your gut" and do what will enable you to sleep well at night. If you don't feel safe with keeping savings in the banking system, take action now.
0:00 Intro
3:30 Scenarios & preparedness
21:25 Counter-party risk
33:37 Dedollarization
FAKEOUT. Debt Market Instability RETURNS! MMRI Hits ANOTHER RECORD. Important Updates.
Greg Mannarino: 9—22-2022
News, Rumors and Opinions Friday AM 9-23-2022
.TNT:
Tishwash: Iran to launch CBDC on Sept. 22
The Central Bank of Iran (CBI) has finalized plans to launch its digital currency Sept. 22, as reported by Iran’s Chamber of Commerce.
The digital currency dubbed “Crypto-Rial” will leverage blockchain technology to turn the Iranian Rial banknotes into cryptocurrency.
The CBI Governor earlier said:
“The bank has in place the infrastructure and rules for the Crypto-Rial. The cryptocurrency is planned as a new type of national currency, like banknotes and coins, but fully digital.”
According to the CBI, the Crypto Rial will help improve financial inclusion in the country and function as a tool to help the economy compete with other stable currencies globally.
TNT:
Tishwash: Iran to launch CBDC on Sept. 22
The Central Bank of Iran (CBI) has finalized plans to launch its digital currency Sept. 22, as reported by Iran’s Chamber of Commerce.
The digital currency dubbed “Crypto-Rial” will leverage blockchain technology to turn the Iranian Rial banknotes into cryptocurrency.
The CBI Governor earlier said:
“The bank has in place the infrastructure and rules for the Crypto-Rial. The cryptocurrency is planned as a new type of national currency, like banknotes and coins, but fully digital.”
According to the CBI, the Crypto Rial will help improve financial inclusion in the country and function as a tool to help the economy compete with other stable currencies globally.
The CBI explained that the Crypto-Rial has been designed to optimize for top-level security. Assets held in smartphone wallets can be tracked in the event of an attack by bad actors.
Iran becoming pro-crypto
At the start of 2022, Iran allowed businesses to settle cross-border payments using cryptocurrency through the Central Bank’s crypto platform.
Iran solidified its stance on crypto after it completed its first foreign trade deal of import goods worth $10 million using cryptocurrency on Aug. 9.
Minister of Industry Mines and Trade Reza Fatemi Amin said on Aug. 29 that local businesses are allowed by law to complete their import trade transactions using cryptocurrency. link
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Courtesy of Dinar Guru
Walkingstick This is a very huge step for the monetary reform to see international banks now using the Iraqi dinar in their banking structure...why? Because they're being used in their contracts. It's a huge step for the monetary reform.
Frank26 What we're looking for is a seated government. If we have a completely formed GOI presented to us by Kazemi - you have a budget. If you have a budget...then you have...the white papers. And if you have the white papers in the budget of a government of a stable country...and there's a very god chance that the reforms that require the white papers are funded because they told us the reserves are out of this world...they're ready to introduce a new currency to their citizens. This chronology that I laid out to you is...obvious
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KTFA:
Samson: Oil prices fall amid recession fears
23rd September, 2022
Oil prices fell on Friday in light of recession fears and the rise of the dollar, although losses were limited due to supply concerns after a new general mobilization campaign in Russia and a clear faltering in talks to revive the Iranian nuclear agreement.
By 0325 GMT, Brent crude futures fell 41 cents, or 0.5 percent, to $90.05 a barrel, and West Texas Intermediate crude futures fell 30 cents, or 0.4 percent, to $83.19 a barrel. Brent crude oil prices fell 1.5 percent, while West Texas Intermediate crude prices fell 2.3 percent this week.
Central banks around the world raised interest rates after the US Federal Reserve raised interest rates by 75 basis points for the third time on Wednesday, raising the risks of an economic slowdown.
A senior US State Department official said that efforts to revive Iran's nuclear agreement concluded in 2015 faltered due to Iran's insistence on closing the International Atomic Energy Agency's investigations related to the discovery of uranium traces at undeclared sites, which reduced expectations of the return of Iranian oil to the market. LINK
Iraqi Dinar update for 09/22/22 - Guess whose back
Pimpy’s Investment Chat
ALERT! IT'S HAPPENING!! FINAL SILVER SWAP!
Bix Weir: 9-22-2022
The Gold/Silver Ratio has fallen from 95 to 86 on it's way to a 1-to-1 Ratio as the Global Fiat Monetary System collapses!
There's no time left to "think" about what to do...get your money out of the system and your assets in your own possession!
If you love Gold...swap it for 86 ounces of silver and then swap back when the Ratio hits 1-to-1! There's 6B ounces of available above ground gold in the world and 6B ounces of available above ground silver...YOU DO THE MATH!!
Economic News From Lynette Zang and Matt McCall 9-22-2022
.The Crisis Deepens: Europe Is Heading For Trouble
Lynette Zang: 9-22-2022
They don't want you holding physical metal in your possession. That is then out of their reach. But I think what's going to happen is already happening and people are stacking metals, particularly here. It's gold. I mean, the village I live in functions almost exclusively on barter.
They are preparing to abandon currency.
To be honest with you, everything I'm hearing about coming out of western Germany, it's just a western Europe is just frightening and UK guns gold in the garden right.
The Crisis Deepens: Europe Is Heading For Trouble
Lynette Zang: 9-22-2022
They don't want you holding physical metal in your possession. That is then out of their reach. But I think what's going to happen is already happening and people are stacking metals, particularly here. It's gold. I mean, the village I live in functions almost exclusively on barter.
They are preparing to abandon currency.
To be honest with you, everything I'm hearing about coming out of western Germany, it's just a western Europe is just frightening and UK guns gold in the garden right.
Special Federal Reserve Update: Biggest Takeaways From the Rate Hike | Making Money With Matt McCall
Stansberry Research: 9-22-2022
Everyone is talking about yesterday's Federal Reserve announcement. Even though the market was expecting a 75-basis-point hike, stocks still fell and continue to hit two-month lows today.
We're sure you're wondering what all this means for you. So in this episode of Making Money With Matt McCall, Matt dedicates the entire show to discussing everything Fed and shares what this decision means for your money and the future.
This "Fed Special" is a must-watch episode for anyone with even $1 in their savings account. Matt lays out the implications of the Fed's move for everyone out there: savers, borrowers, homeowners, and of course, investors.
00:00 Fed Meeting Updates
9:00 Is the Fed Winning?
10:18 Takeaways from the Meeting
15:00 Fed Hike Projections
17:04 Implications for Borrowers
19:00 Implications for Homeowners
22:25 Bonds
24:03 Currencies
26:02 Stocks
30:00 AAII Sentiment Survey
34:24 Recap
"ALERT: The ALMOST Everything Bubble to Explode Like This" Mike Maloney
.Mike Maloney
ALERT: The ALMOST Everything Bubble to Explode Like This..
9-22-2022
“Every time they have tried to contract the currency supply, raise interest rates…do Quantitative Tightening, the markets have thrown some sort of fit.
Whether it’s the bond market, or bank liquidity drying up…every time they try weaning the markets off of this artificial life support there’s some kind of tantrum that happens.
The next one is going to be some kind of big crash and that is finally when the Fed will pivot.
They aren’t anticipatory, they are reactionary.
They will pivot, and they’ll start increasing the currency supply and lowering interest rates once they have caused the economy to break.
Mike Maloney
ALERT: The ALMOST Everything Bubble to Explode Like This..
9-22-2022
“Every time they have tried to contract the currency supply, raise interest rates…do Quantitative Tightening, the markets have thrown some sort of fit.
Whether it’s the bond market, or bank liquidity drying up…every time they try weaning the markets off of this artificial life support there’s some kind of tantrum that happens.
The next one is going to be some kind of big crash and that is finally when the Fed will pivot.
They aren’t anticipatory, they are reactionary.
They will pivot, and they’ll start increasing the currency supply and lowering interest rates once they have caused the economy to break.
In 2000, we had the crash of the tech sector and all the dotcoms, the NASDAQ went down eighty-something percent…then in 2007 it was the stock market and Real Estate.
Well, this time it’s stocks, Real Estate and Bonds that are all in crisis - it’s the Almost Everything Bubble and the reason why I say Almost Everything is because gold and silver are not in bubbles…yet!”
Mike Maloney
More News, Rumors and Opinions Thursday Afternoon 9-22-2022
.KTFA:
Samson: Hungarian Prime Minister: Europe Has Lost 4 Governments Due To Sanctions On Russia And They Must Be Lifted
22nd September, 2022
Hungarian Prime Minister Viktor Orban said that if sanctions against Russia are lifted, prices and inflation will fall immediately in Europe, and its economy will have a chance to recover and avoid recession.
At a meeting of the ruling coalition of Fidesz parties and the Christian Democratic People's Party, Orbán stressed that “if the sanctions are lifted, prices will immediately fall by half, and inflation will also go down. Without sanctions, the European economy will recover and can avoid the imminent recession,” he said, reiterating that sanctions are the cause of economic problems, the energy crisis and inflation.
KTFA:
Samson: Hungarian Prime Minister: Europe Has Lost 4 Governments Due To Sanctions On Russia And They Must Be Lifted
22nd September, 2022
Hungarian Prime Minister Viktor Orban said that if sanctions against Russia are lifted, prices and inflation will fall immediately in Europe, and its economy will have a chance to recover and avoid recession.
At a meeting of the ruling coalition of Fidesz parties and the Christian Democratic People's Party, Orbán stressed that “if the sanctions are lifted, prices will immediately fall by half, and inflation will also go down. Without sanctions, the European economy will recover and can avoid the imminent recession,” he said, reiterating that sanctions are the cause of economic problems, the energy crisis and inflation.
He pointed out that “when these sanctions were imposed in Brussels at the beginning of the summer, the European bureaucrats did not promise to do so, and promised that the sanctions would hit Russia, not the Europeans.
Since then, it has become clear that the imposed sanctions do more harm to Europe than Russia,” he said, calling on members of the ruling coalition to “do everything in their power to have Europe lift these sanctions no later than the end of the year.”
The Hungarian Prime Minister has constantly criticized the European Union for its anti-Russian policy, noting that “there are thousands of sanctions against Russia, but they have not shaken Moscow, while Europe has lost four governments and is suffering from a deep economic and political crisis.” In addition, the EU countries missed the opportunity to mediate the conflict in Ukraine, because they could not guarantee the implementation of the Minsk agreements. LINK
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Samson: Lebanese banks suspend their work indefinitely after a wave of depositors' intrusions
21st September, 2022
The Association of Banks in Lebanon said in a statement, on Wednesday, that Lebanese banks will remain closed indefinitely, noting the continued “risks” facing employees after a series of raids on banks last week.
The association said in a statement: “As a result of the intensive contacts made by the association with the concerned authorities, and because the risks still befall bank employees and their customers... the banks will keep their doors forcibly closed at the present time, especially in the absence of any measures or even reassurances from the state and security authorities. All with the aim of ensuring a safe working environment.”
The banks had planned to reopen their doors tomorrow, Thursday, after a three-day closure announced last week, after a total of seven banks were subjected to raids by depositors seeking to obtain their savings. LINK
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Courtesy of Dinar Guru
Breitling When I look at Iraq it's authority only. What's the banking system doing? Where are they making their money? How do they expand their system? The people who can pass law and want to expand their system, what are they talking about? Who are they talking about? In other words who do they want to do business with. They're talking about us, the west. Parliament, the Ministry of Planning, the Ministry of Finance, the CBI, all of them who has the authority right down the line...just follow the policy and you'll be very happy.
Sandy Ingram Question: "Why are we hearing about a possible civil war in Iraq?" Yes, Iraq is going through a major political crisis. Yet the internal fighting stopped while Iraqis were preparing for the annual religious event where over 20 million Shiite pilgrims descended on the city of Kabbalah...2.6 million are from Iran...we cannot be sure what will occur once people return to the reality of their daily lives.
MULTI-BILLIONAIRE INVESTORS WARN... "A DISASTER IS COMING." Important Updates.
Greg Mannarino: 9-22-2022
Moscow Gold Standard could expose fair gold price, end market manipulation - Piepenburg (Pt. 2/2)
This is part 2 of a two-part interview. You can watch part 1 here: https://youtu.be/f9-EdC_EtLs
Matthew Piepenburg, Commercial Director at Matterhorn Asset Management, returns to discuss the Moscow Gold Standard and how it could end the LBMA and COMEX's gold price manipulation.
He also discusses Bitcoin and his gold price outlook with Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.
0:00 - Gold manipulation and Russia
10:48 - Monetary reset with BRICS, IMF
16:20 - Bitcoin
20:33 - Tipping point for reset
24:21 - Gold price