News, Rumors and Opinions Friday AM 10-21-2022
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Fri. 21 Oct. 2022
Compiled Fri. 21 Oct. 12:01 am EST by Judy Byington
Global Currency Reset:
“The Engine will start this Thurs. 20 Oct. They have given the Green Light.” …Wolverine
“Monies will begin releasing on Thurs. 20 Oct, with Dubai 1 completing and Dubai 2 starting a week later on Thurs. 27 Oct. … A High Up Contact
“Redemption Center personnel were now saying that it would be a Mon-Tues 24-25 Oct. start for Tier 4B (Us, the Internet Group).”… “Bond Holders should also get liquidity on Mon-Tues 24-25 Oct.” …Bruce
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Fri. 21 Oct. 2022
Compiled Fri. 21 Oct. 12:01 am EST by Judy Byington
Global Currency Reset:
“The Engine will start this Thurs. 20 Oct. They have given the Green Light.” …Wolverine
“Monies will begin releasing on Thurs. 20 Oct, with Dubai 1 completing and Dubai 2 starting a week later on Thurs. 27 Oct. … A High Up Contact
“Redemption Center personnel were now saying that it would be a Mon-Tues 24-25 Oct. start for Tier 4B (Us, the Internet Group).”… “Bond Holders should also get liquidity on Mon-Tues 24-25 Oct.” …Bruce
“Redemption Centers were preparing to be very busy beginning next week.” … “The Iraqi Parliament was planning to be installed next Mon. 24 Oct.” … “Bond Holders were expecting 100% of their funds made liquid this week.”… “Tier 4Bwas expecting to be notified to set exchange and redemption appointments within 72 hours after Bond Holders received liquidity.” … “The USDA has paid off $800 million in farm loans – a key indicator that this has already started under NESARA.” …MarkZ
Great Financial Reset was Happening Now: https://dinarrecaps.com/our-blog/a-great-financial-reset-is-happening-now-new-gold-standard
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Thurs. 20 Oct The Big Call, Bruce: Thebigcall.net 667-770-1866 pin123456#
Redemption Center staff were on call right now.
Redemption Center personnel were now saying that it would be a Mon-Tues 24-25 Oct. start for Tier 4B (Us, the Internet Group).”
Bond Holders should also get liquidity on Mon-Tues 24-25 Oct.
Restored Republics:
Dragon family sources say that all gold and treasure hoards that once again back the US dollar are now under their control. …Ben Fulford
Rothschilds have lost control of the UK, Swiss Bank and French Rothschild Colony of France.
The Khazarian Mafia was desperately trying to save themselves by switching over to Central Bank Digital currencies, but since these are backed by nothing, this effort is doomed to fail.
Read full post here: https://dinarchronicles.com/2022/10/21/restored-republic-via-a-gcr-update-as-of-october-21-2022/
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KTFA:
Godson: IMO.... Ok.. It should end by this weekend I'm thinking ... K moving out.. Thinking about New government moving in.... Thinking about the formula we was to go by.... Thinking about THE COUNTDOWN... Thinking about THE PROMISE TO THE PEOPLE by the CBI.... Thinking about the GOVERNMENT being seated FINALLY... Thinking about the 50 DAYS that was posted and not TALKED about recently.... Thinking about CONTRACTS being SIGNED.... Thinking about all those BORDERS AND INTERNATIONAL CONNECTION.... If you know more please add... (NO DATE NO RATE)
Pattycakes77: I would cross my fingers but I crossed my finger so many times during the years that now they are permanently crossed. I hope and pray it comes to an end by this weekend.
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Courtesy of Dinar Guru
Frank26 ...Laws required for the monetary reform, we're not waiting for the government to be formed to pass them...No. We're waiting for the new government to be formed to use all the laws that have been passed for the monetary reform...everything is in position...
Mnt Goat ...there is no other reason for not reinstating the dinar other than it is being artificially suppressed for a reason...I know with the utmost certainty that the Central Bank of Iraq cannot and will not just pop out an RV someday by total surprise at a significant rate that we want in Iraq or outside of Iraq, without first completing the currency changeover from the larger 3 zero notes to the lower of the lower denominations and coins. It is really that simple! ...We know the smaller notes are printed and the coins minted...
SITUATION CRITICAL: BofA WARNS Of Systemic "BREAKDOWN" Of Financial System.
Greg Mannarino: 10-20-2022
New Era Will Emerge, Now Is Not the Time to Gamble With Your Money: E.B. Tucker
Stansberry Research: 10-20-2022
"This is not a time to gamble with your money, we are in a time right now where things are shifting," warns E.B. Tucker, bestselling author of Why Gold, Why Now?
Tucker returns to discuss his thoughts on blue chip companies from Apple to Amazon, detailing that, "we are on the verge of a new era."
Barrick is one of the best gold companies, he continues. "If we get to a point where the producers of gold actually determine the price, it's a different ballgame," Tucker concludes.
What Is A Recession? The Economic Concept Explained And What Happens During One.
What Is A Recession? The Economic Concept Explained And What Happens During One.
Olivia Munson and Paul Davidson, USA TODAY Mon, October 17, 2022
As prices increase and gross domestic product declines, many people worry about a potential economic downturn, also known as a recession. Consumer prices rose 8.3% from a year earlier in August while core prices, which exclude volatile food and energy items, climbed 6.3% annually, according to the Labor Department's consumer price index.
Meanwhile, GDP, or the value of all goods and services produced in the U.S., dropped at an annual rate of 1.6% in the first three months of the year and 0.6% in the second three.
What Is A Recession? The Economic Concept Explained And What Happens During One.
Olivia Munson and Paul Davidson, USA TODAY Mon, October 17, 2022
As prices increase and gross domestic product declines, many people worry about a potential economic downturn, also known as a recession. Consumer prices rose 8.3% from a year earlier in August while core prices, which exclude volatile food and energy items, climbed 6.3% annually, according to the Labor Department's consumer price index.
Meanwhile, GDP, or the value of all goods and services produced in the U.S., dropped at an annual rate of 1.6% in the first three months of the year and 0.6% in the second three.
Adding to concerns, Jamie Dimon, chief executive of JPMorgan Chase, the largest bank in the U.S., warned at a conference in London on Monday that a “very, very serious” mix of challenges was likely to push both the U.S. and global economies into recession by the middle of next year, CNBC reported. For now, he noted, the U.S. economy was “actually still doing well” and consumers were likely to be in better shape compared with the 2008 global financial crisis.
If a recession does happen, how will it unfold, and what does it mean for everyday life? Here is what you need to know.
What is a recession?
In simple terms, a recession is "a contraction in economic activity" or "when the economy shrinks," said Sameer Samana, senior global market strategist for the Wells Fargo Investment Institute.
To be more specific, a recession is "a significant decline in economic activity that spreads across the economy and lasts more than a few months," said Michael Pugliese, an economist with Wells Fargo. In determining whether a recession has occurred, the nonprofit National Bureau of Economic Research doesn't just look at GDP but rather at a variety of indicators such as employment, consumer spending, retail sales and industrial production.
When it comes to defining a recession, it could be a technical recession or a true recession, said Samana.
"The biggest distinction is the severity," he explained. "A technical recession is more of a mathematical downshift. A true recession is a more meaningful contraction across a broader range of categories."
What Happens During A Recession?
During a recession, the economy shrinks as a result of a pullback on individual spending, said Samana.
"Consumption, consumer spending makes up about 70% of the U.S. economy," he said, explaining that during a recession, the cutback in spending "then feeds into overall demand for services."
To continue reading, please go to the original article here:
https://money.yahoo.com/recession-economic-concept-explained-happens-152030300.html
A Great Financial Reset is Happening Now (New Gold Standard)
A great financial reset is happening NOW (new gold standard)
Sorelle Amore Finance: 10-20-2022
A great money reset is happening, possibly because of gold. This is a story very few are talking about, and it's got everything to do with the US dollar possibly going back to a gold standard... and evidence many other nations want to do the same.
Recently, the Republican party in the United States introduced bill H.R. 9157, which is designed to bring the US dollar back onto a gold standard. The thing is, this will probably be opposed by Joe Biden's government.
However, even if the US isn't paying attention to gold, it seems the rest of the world is.
A great financial reset is happening NOW (new gold standard)
Sorelle Amore Finance: 10-20-2022
A great money reset is happening, possibly because of gold. This is a story very few are talking about, and it's got everything to do with the US dollar possibly going back to a gold standard... and evidence many other nations want to do the same.
Recently, the Republican party in the United States introduced bill H.R. 9157, which is designed to bring the US dollar back onto a gold standard. The thing is, this will probably be opposed by Joe Biden's government.
However, even if the US isn't paying attention to gold, it seems the rest of the world is.
For the last few years, central banks around the world have been buying up gold like crazy. Going on a spending spree and adding to their reserves, increasing their holdings by up to several thousand percent.
And this has a lot to do with the Bank of International Settlements, which has once again put gold on the rise.
0:00 - The big golden comeback
2:55 - Why a gold standard may not happen
4:21 - Masterworks insert
5:29 - The BIS is why gold is hot again
8:27 - Why I think it's a good bet
More News, Rumors and Opinions Thursday PM 10-20-2022
KTFA:
Samson: Iran-Russia SWIFT-like financial system to be launched soon
18th October, 2022
With the participation of a business delegation from the Republic of Bashkortostan of the Russian Federation at the Tehran Chamber of Commerce on Tuesday, business negotiations between economic activists from the two countries were held with the aim of realizing opportunities for bilateral cooperation and examining the barriers and problems to the development of relations.
In the meeting, Minister of Trade and Services of the Republic of Bashkortostan Alexey Gusev of the Russian Federation announced the six-fold increase in the exchange of goods between the Republic of Bashkortostan and Iran over the last year and reminded that the companies of both sides can exchange products related to the machine industry, chemical industry, rubber, metals from Bashkortostan and steel products and foodstuffs from Iran.
KTFA:
Samson: Iran-Russia SWIFT-like financial system to be launched soon
18th October, 2022
With the participation of a business delegation from the Republic of Bashkortostan of the Russian Federation at the Tehran Chamber of Commerce on Tuesday, business negotiations between economic activists from the two countries were held with the aim of realizing opportunities for bilateral cooperation and examining the barriers and problems to the development of relations.
In the meeting, Minister of Trade and Services of the Republic of Bashkortostan Alexey Gusev of the Russian Federation announced the six-fold increase in the exchange of goods between the Republic of Bashkortostan and Iran over the last year and reminded that the companies of both sides can exchange products related to the machine industry, chemical industry, rubber, metals from Bashkortostan and steel products and foodstuffs from Iran.
Also in the meeting, Rostam Zhiganshin, Russia's commercial representative in Iran referred to the meeting of the Joint Economic Commission of Iran and Russia in the next two weeks in Russia, and reminded that in that meeting, which will be held between the cabinet members of the governments of the two countries, important decisions will be made to establish SWIFT-like system between Iran and Russia will be made and if the two countries reach a final agreement, this financial exchange system between Iran and Russia will be launched and start working in the next two or three months. LINK
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Samson: Al-Kazemi packs his bags and the Sudanese team is preparing to take over the government palace
20th October, 2022
An informed source revealed, on Thursday, the start of preparations by the Prime Minister-designate's team to take over the government palace.
The source said in an interview with "Mawazine News", "Prime Minister Mustafa Al-Kazemi began collecting his belongings in bags, and some of his office team completed packing his bags in preparation for handing over the government palace to the Prime Minister-designate Muhammad Shia'a Al-Sudani immediately after the formation of the government."
She added, "Al-Sudani's team began preparing to take over the government palace from Al-Kazemi's team." LINK
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Samson: Al-Sudani affirms the next government's interest in strengthening relations with the Russian Federation
10/20/2022 15:00:43
Prime Minister-designate Muhammad Shia Al-Sudani expressed today, Thursday, the interest of the next government in strengthening bilateral relations with the Russian Federation.
And Al-Sudani’s office stated in a statement that {Al-Furat News} received a copy of it, that “the Prime Minister-designate, Muhammad Shiaa Al-Sudani, received today, the Ambassador of the Russian Federation to Iraq, Elbrus Kutrashev,” noting that “the ambassador offered his congratulations to Al-Sudani on the occasion of his assignment to head the next Iraqi government, conveying greetings from the Russian leadership, and he also expressed his best wishes for success and the relations between the two countries for further development and prosperity.
During the meeting, Al-Sudani expressed "the future government's interest in strengthening bilateral relations with the Russian Federation and building balanced relations in the interest of the two friendly peoples."
He praised "the historical relations that unite Iraq with Russia," stressing "the determination of his future government to activate the prospects for bilateral cooperation in various fields." LINK
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Courtesy of Dinar Guru
Frank26 Article: "Central Bank: Changing the exchange rate will destroy the economy" This is true...but misunderstood. There's a difference between changing the exchange rate and a gradual change and that is exactly what the CBI is talking to the citizens about...they don't say they're going to change the exchange rate. They're telling the Iraqi citizens there will be a gradual change in the exchange rate...
tlm724 Article: "Iraq Ranks First In The Arab World... The 10 Fastest Growing Economies In The World" Iraq was the fastest growing Arab country, as the gross domestic product accelerated by 9.3%, and ranked second in the world during 2022, followed by Kuwait and Saudi Arabia in the fourth and fifth positions globally, with a growth rate of 8.7% and 7.6%, for the current year.
LONDON HAS FALLEN: UK Prime Minister Liz Truss Quits After Market Turmoil
Michael Cowan: 10-20-2022
LONDON HAS FALLEN: UK Prime Minister Quits After Market Turmoil
SILVER ALERT! At This Rate ALL Silver Warehouses Will Be EMPTY by the End of the Year!!
(Bix Weir) 10-20-2022
SILVER IS FLYING OUT OF EVERY WAREHOUSE AROUND THE WORLD SO GET YOURS NOW!!...and for all those thinking that Silver is not a monetary metal anymore...what do you think Mexico, China, Peru and Russia will be doing with all their freshly mined silver after the banks crash?! SILVER IS MONEY!!
Steven Van Metre, Gerald Celente and Greg Mannarino 10-20-2022
Banks Face Liquidity Crisis as U.S. Treasury Loses Control of the Bond Market
Steven Van Metre: 10-20-2022
The banks are facing a massive liquidity crisis as the U.S. Treasury is losing control of the bond market.
Rising rates have caused banks to book a paper loss on their huge bond portfolios which has caused the Treasury to consider issuing more T-Bills to shore up the liquidity problems with the long bond and bring rates back down.
Banks Face Liquidity Crisis as U.S. Treasury Loses Control of the Bond Market
Steven Van Metre: 10-20-2022
The banks are facing a massive liquidity crisis as the U.S. Treasury is losing control of the bond market.
Rising rates have caused banks to book a paper loss on their huge bond portfolios which has caused the Treasury to consider issuing more T-Bills to shore up the liquidity problems with the long bond and bring rates back down.
CELENTE AND MANNARINO: PREPARE FOR THE GREAT ECONOMIC DESTRUCTION
Gerald Celente: 10-20-2022
Greg Mannarino: global fiat currencies are in a race to the bottom
Small Caps: 10-17-2022
News, Rumors and Opinions Thursday AM 10-20-2022
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Thurs. 20 Oct. 2022
Compiled Thurs. 20 Oct. 12:01 am EST by Judy Byington
Judy Note: I could easily be wrong, but my personal opinion of the below was that the Chinese Elders would release GCR monies on Thurs. 20 Oct. and those monies would trickle down to Tier 4B (us, the Internet Group) by Thurs. 28 Oct.
Global Currency Reset:
“The Engine will start this Thurs. 20 Oct. They have given the Green Light.” …Wolverine
“Monies will begin releasing on Thurs. 20 Oct, with Dubai 1 completing and Dubai 2 starting a week later on Thurs. 27 Oct. … A High Up Contact
An HSBC contact indicated that this could go for Tier 4B (Us, the Internet Group) sometime between now and next Sun. 23 Oct. …Bruce
RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Thurs. 20 Oct. 2022
Compiled Thurs. 20 Oct. 12:01 am EST by Judy Byington
Judy Note: I could easily be wrong, but my personal opinion of the below was that the Chinese Elders would release GCR monies on Thurs. 20 Oct. and those monies would trickle down to Tier 4B (us, the Internet Group) by Thurs. 28 Oct.
Global Currency Reset:
“The Engine will start this Thurs. 20 Oct. They have given the Green Light.” …Wolverine
“Monies will begin releasing on Thurs. 20 Oct, with Dubai 1 completing and Dubai 2 starting a week later on Thurs. 27 Oct. … A High Up Contact
An HSBC contact indicated that this could go for Tier 4B (Us, the Internet Group) sometime between now and next Sun. 23 Oct. …Bruce
Bond Holders were expecting 100% of their funds made liquid this week. Tier 4Bwere expecting to be notified to set exchange and redemption appointments within 72 hours after Bond Holders received liquidity. The USDA has paid off $800 million in farm loans – a key indicator that this has started under NESARA. …MarkZ
Global Financial Crisis:
This is only the tip of the iceberg. Today Wed. 19 Oct. hundreds of thousands of investors have pulled their money and a BLACKOUT on information of the imploding markets has been set. https://t.me/disclosetv/9628 …The Storm Rider, Telegram
Deutsche Bank and several ppl got raided for a huge Cum-Ex scandal! There are 100 banks in 4 continents involved! This scandal steals from YOU…the TAXPAYER and destroys our economy! This is a 4 minute video on Cum-Ex. Definitely worth the watch! Cum-ex deals explained (explainity® explainer video) – YouTube
Read full post here: https://dinarchronicles.com/2022/10/20/restored-republic-via-a-gcr-update-as-of-october-20-2022/
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Courtesy of Dinar Guru
Mnt Goat Article: "IRAQ TOPS THE ARAB WORLD AMONG THE 10 FASTEST GROWING ECONOMIES IN THE WORLD" Yes, and with a currency worth only 1/6 of penny? Yes, and ranked 13th in the world in Gold Reserves and with a 90 billion dollar Central Bank reserves. How about completing the currency reform and getting the dinar reinstated for investors?
Frank26 Article: "The European Union congratulates Rashid on the election and the assignment of Al-Sudani and stresses the need to expedite the formation of the government" Everybody! Congratulations, congratulations, congratulations! If this wasn't going to succeed nobody would be saying congratulations. Nobody would be bending backwards to reach across the border to shake hands of these new leaders...leaders are being born in Iraq ...
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Be Warned And Be Ready.. WE ARE ON THE CUSP OF A DEBT MARKET MELTDOWN.
By Gregory Mannarino 10-19-2022
Answering Questions From Our Viewers with Lynette Zang & Eric Griffin
10-19-2022
Viewer Questions:
Question 1: What if we find out that Fort Knox has been raided and the USA has a minimal amount of gold to back the gold standard?
Question 2: Most economists agree that the dollar will go to zero and PM will skyrocket. Several have said that it will be short lived so one will have to act fast. How do you read the market to know when the rising price of PM is near the top?
Question 3: What will it be like the day after the crash?
Question 4: I am going to sell my house and expect to receive 600k, do you recommend i should transfer it all straight to gold and silver? I already took care of the rest of the mantra. Thanks.
Question 5: If gold is revalued at a much higher price, what happens to the price when everyone starts selling to pay off mortgages, etc?
US Recession Forecast? 100% chance
US Recession Forecast? 100% chance 10.19.22
America's 6 biggest banks are expected to set aside $4.5 billion in Q3 to cover future loan losses — why that's a clear bad sign for the global economy
Lauren Bird October 12, 2022
Fears of a looming recession and a tightening economy are pushing the country’s big banks to prepare for the worst. According to a report from Bloomberg, six of the biggest banks in the U.S. — JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley — plan to set aside about $4.5 billion to protect against loan losses in their third-quarter earnings. Banks typically build up their loan loss provisions when there are concerns borrowers won’t be able to make their payments.
US Recession Forecast? 100% chance 10.19.22
America's 6 biggest banks are expected to set aside $4.5 billion in Q3 to cover future loan losses — why that's a clear bad sign for the global economy
Lauren Bird October 12, 2022
Fears of a looming recession and a tightening economy are pushing the country’s big banks to prepare for the worst. According to a report from Bloomberg, six of the biggest banks in the U.S. — JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley — plan to set aside about $4.5 billion to protect against loan losses in their third-quarter earnings. Banks typically build up their loan loss provisions when there are concerns borrowers won’t be able to make their payments.
It’s not hard to see why they’re scrambling to prepare. The unrelenting increases in the federal funds rate set by the Federal Reserve — now at 3% to 3.25% — has already seen borrowers begin to default on loans, credit card payments and other variable-rate debts.
And by setting aside these massive reserves, banks are signaling they’re anticipating having to handle more losses in the future as consumers continue to feel the squeeze of rising interest rates and scorching-hot inflation.
What these banks are reacting to
Lenders are already starting to feel the effects of the Fed's fight on inflation. Four of the biggest banks in the country are expected to report losses this week in their quarterly earnings reports, including JPMorgan Chase, Wells Fargo, Citigroup and Morgan Stanley.
Normally, a higher interest rate would be a good thing for banks — their earnings tend to rise with interest rates. But banks are seeing a dip amid the fluctuating markets — fewer deals are being made and investors are holding back as warning signs of a recession persist.
And that’s led many banks to add to their loss reserves.
The amount banks add to their loan loss reserves then gets subtracted from its earnings. Conversely, when a bank releases those reserves, that money is added to its earnings.
Banks and lenders adjust their cash reserves according to the potential losses on their outstanding loans — they’re setting aside money for problem loans that get paid late or not at all. When a loan goes unpaid, a bank will tap into the loss reserves cash to cover it.
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/americas-6-biggest-banks-expected-210000438.html
Lynette Zang, Greg Mannarino and George Gammon 10-19-2022
This Only Gets Worse…Lynette Zang & Gregory Mannarino
Oct. 18, 2022
I am so excited to have my very good friend and returning guest here today, Gregory Mannarino, known as the Robin Hood of Wall Street, for sharing his knowledge of Wall Street with Main Street.
What I love so much about him is his no-apologies approach. As he says, “in life, there are the sheep who live in fear, and then there are the lions who capitalize on it.” There is definitely a time when we can capitalize.
This Only Gets Worse…Lynette Zang & Gregory Mannarino
Oct. 18, 2022
I am so excited to have my very good friend and returning guest here today, Gregory Mannarino, known as the Robin Hood of Wall Street, for sharing his knowledge of Wall Street with Main Street.
What I love so much about him is his no-apologies approach. As he says, “in life, there are the sheep who live in fear, and then there are the lions who capitalize on it.” There is definitely a time when we can capitalize.
Next Global Financial Crisis May Be Weeks Away (Here's Why)
George Gammon: 10-19-2022
More News, Rumors and Opinions Wednesday Evening 10-19-2022
KTFA:
Samson: The global economy is heading into the abyss
10/19/2022 15:45:23
A report published by the American "Politico" magazine concluded that "the global economy is heading to the abyss" due to the total crises that the world is going through and from which central banks and governments everywhere suffer.
The report said that what is remarkable about the total economic crises that the world is currently experiencing is that "for the first time in recent memory, the United States is not in a position to manage the process."
KTFA:
Samson: The global economy is heading into the abyss
10/19/2022 15:45:23
A report published by the American "Politico" magazine concluded that "the global economy is heading to the abyss" due to the total crises that the world is going through and from which central banks and governments everywhere suffer.
The report said that what is remarkable about the total economic crises that the world is currently experiencing is that "for the first time in recent memory, the United States is not in a position to manage the process."
Soaring inflation, the Russian invasion of Ukraine, a looming energy crisis in Europe and a floundering government in Britain are "just a few of the components of a cube of disasters that central banks and governments face as they try to avoid painful recessions".
The report noted that while "a sense of dread" surrounded meetings of the International Monetary Fund and the World Bank last week in Washington, Kate Davidson and Victoria Gheda, the magazine's economics editors, reported that the United States is struggling to prepare a coordinated response, but the problem is that the United States, like other countries, is largely focused on trying to contain domestic crises.
The report says that the US Federal Reserve is at the fore in the storm of crises that the world is currently going through, as it raises interest rates and fuels recession risks in an attempt to control price hikes, which puts pressure on economies around the world.
“Ultimately, a lot of national policies are going their own way,” said Mark Sobel, president of the Forum of Official Financial and Monetary Institutions and a former US Treasury official. "The Fed will do what they usually do, and the Europeans will do what they always will," he added.
Politico notes that global financial leaders were divided on a range of issues and were three days late in issuing the G-20 statement based on this week's meetings. Among the differences: Russia's sanctions, global oil production and global currencies.
It is noteworthy that inflation rates recorded record levels in most countries of the world during the last period, including the United States, which prompted the monetary authorities in Washington to raise interest rates to reach record levels, which led to a significant rise in the dollar exchange rate, which affected other currencies and exacerbated the problem of inflation in other countries of the world. LINK
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Courtesy of Dinar Guru
Walkingstick [via Frank26] Question: "What is the procedure now that we've got the president and the prime minister how does the government get seated?" ...the next big thing you're looking for - we need Sudani to announce his government by giving us the names of his cabinet members...once we sit the government we have a budget, an exchange rate, we have a gradual increase...an un-pegging, and a controlled float. These are wonderful times that we are experiencing...
Humble1 Article: "Civil Aviation: Iraq will soon be free from international sanctions". Quote: "...during 2019, Iraq reached the rate of passing about 75% of the testing and auditing," stressing that "Iraq will pass the remaining percentage in the near future to get out of international sanctions.." A definite move in the right direction...
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TNT:
Tishwash: Al-Sudani concludes his mission today, and it is likely that the names will be announced at noon tomorrow
The leader of the Al-Fateh Alliance, Ali Hussein Al-Fatlawi, confirmed, on Wednesday, the success of the mission of Prime Minister-designate Muhammad Shia Al-Sudani in putting the final touches to his parliamentary formation, indicating that the names of the ministers will be announced tomorrow afternoon in order to study them in the House of Representatives before the Saturday session.
Al-Fatlawi said in a statement to "The Information", that "the Prime Minister-designate, Muhammad Shiaa Al-Sudani, is supposed to conclude today his mission in choosing his cabinet, and then announce the names of the ministers tomorrow, Thursday."
He added, "The announcement of the names of the ministerial cabinet and the government program on Thursday will allow the council members to study the names nominated for the cabinet for the purpose of voting on each name, whether affirmative or negative."
He added, "The ministerial cabinet will not be fully completed due to the failure of some political forces to send the five names to each position according to their due," suggesting that "the political forces will complete their mission by paying the five names within a few days so that the government moves in an integrated manner away from assigning agencies as it happened in the past." link
What the Heck Did You Think Would Happen After Printing $7 Trillion?: Kevin O’Leary
Stansberry Research: 10-19-2022
"None of the Fed's rate hikes have affected the consumer yet," and it's because of the excessive printing of U.S. dollars, exclaims Kevin O'Leary, widely known as "Mr. Wonderful." If we see a slowdown in earnings, "it'll probably be in Q1 or Q2 next year," he tells our Daniela Cambone.
O'Leary breaks down for investors why, "there is no question that it does matter what happens in the midterm elections." European banks are zombie banks, "and never went through the cleansing the U.S banks went through," he continues.
O'Leary concludes by dissecting the "three horsemen" of the Web3 movement and why it's critical for the future of decentralized money.
The US Dollar Is Irrationally Strong Right Now
The US Dollar Is Irrationally Strong Right Now
Notes From the Field By Simon Black October 19, 2022
By the summer of 1497, Ferdinand and Isabella of Spain were presiding over a rapidly growing empire.
Christopher Columbus had already claimed most of the Caribbean islands on their behalf. Plus Pope Julius II had awarded virtually all of the western hemisphere to Spain in the infamous Treaty of Tordesillas.
Spain was quickly on its way to becoming a global superpower. Ferdinand and Isabella knew it, and they realized that they needed a strong currency to match their strong empire.
The US Dollar Is Irrationally Strong Right Now
Notes From the Field By Simon Black October 19, 2022
By the summer of 1497, Ferdinand and Isabella of Spain were presiding over a rapidly growing empire.
Christopher Columbus had already claimed most of the Caribbean islands on their behalf. Plus Pope Julius II had awarded virtually all of the western hemisphere to Spain in the infamous Treaty of Tordesillas.
Spain was quickly on its way to becoming a global superpower. Ferdinand and Isabella knew it, and they realized that they needed a strong currency to match their strong empire.
So on June 13, 1497, they announced a major monetary reform called the Medina del Campo, named for the site of a popular medieval banking conference at the time.
The monetary reform was sweeping; they abolished most other coins in their domain, and re-established the real as the primary currency across Spanish lands.
The real was a silver coin, weighing about 0.1 troy ounces or roughly 3.2 grams. And coins were minted in denominations of ½, 1, 2, 4, and 8 real.
Over time, the 8-real coin (real de ocho) became the most popular; it was known as a “Piece of 8”, and eventually the “Spanish dollar”.
By the mid-1500s under King Charles I of Spain, the Spanish dollar had become the world’s primary reserve currency. From the Americas to Europe to Asia, global trade and commerce were quoted and often settled in Spanish dollars.
Dutch and Portuguese traders visiting Macau in the 1600s, for example, would frequently buy goods from Chinese merchants using Spanish dollars.
In 1704, Queen Anne of Great Britain decreed that the Spanish dollar would be legal tender in the American colonies. And in 1792, the newly independent United States passed the Coinage Act which defined the US dollar as equivalent to the Spanish dollar.
The Spanish dollar’s dominance in global finance was unparalleled. But like all reserve currencies that came before, it too lost its luster.
Eventually the Spanish Empire’s strength faded. The government defaulted on its debts, confiscated private wealth, and suffered embarrassing military defeats.
The Dutch guilder then began to displace the Spanish dollar in commerce and trade. And by the late 1800s, the British pound had become the world’s dominant reserve currency — matching the British Empire’s unparalleled size and economic power.
This lasted until the mid-20th century when, after World War II, the United States dollar became the world’s primary reserve currency — a status the dollar has enjoyed for decades.
Having the world’s reserve currency is an extraordinary privilege. It means that the rest of the world literally HAS to stockpile your currency.
For example, whenever a company in Peru does business with a supplier in Malaysia, that transaction is quoted and settled in US dollars. This means that the banking systems in both Peru and Malaysia HAVE to maintain substantial holdings of US dollars in order to facilitate these transactions.
This is the biggest reason why foreigners own trillions and trillions of dollars of US government bonds; bonds are the largest and most liquid financial instrument available for foreign investors who need to hold dollars.
And because of this need for foreigners to own US dollar assets, foreigners own a whopping $7.5 trillion worth of US government bonds, roughly 25% of the national debt.
This is really an enormous benefit for the US. And for an easy example, we need look no further than to the United Kingdom.
The British pound was the world’s dominant reserve currency more than a century ago. Today the UK is still a significant economy. But they no longer have the unique reserve currency advantage.
Now, you may be aware that, a few weeks ago, the British pound and British government bonds (known as gilts) began plummeting after the British government announced a series of tax cuts and economic reforms.
It turned out that the bond market wasn’t thrilled with the plan, so investors began dumping their British gilts and pounds.
It was a full blown panic. And soon, the central bank had to step in to bail out the bond market. The Chancellor was sacked. And the Prime Minister canceled her planned tax cut.
Essentially the British government had to capitulate to the demands of investors.
This is actually normal in countries that don’t enjoy reserve currency status. If a government wants to borrow money from the bond market, politicians have to appease investors and lay out a plan that will give everyone confidence.
But not in the United States.
Because the US issues the global reserve currency, the government can engage every ridiculous antic imaginable.
They can fail to pass a budget (multiple times) resulting in a government shutdown. They can lock down the entire economy and pay people to stay home. They can pass a multi-trillion dollar spending package and insist it “costs nothing”. They can slash interest rates to zero or engineer record high inflation.
And yet foreign investors will STILL buy US government bonds. And the dollar actually becomes STRONGER.
It’s totally insane. None of that would be possible if the US dollar weren’t the world’s reserve currency.
The curse of the reserve currency, however, is that policymakers usually believe their status will last forever. Spanish, Dutch, and British leadership never envisioned that their currencies would falter and be displaced by a rising power. And yet it happened.
The same fate awaits the US dollar.
Reserve currencies are usually displaced when economic power is in decline. Given the mountain of debt owed by the US government, the stagflation surging across the US economy, and the complete ineptitude to do anything about it, it certainly looks like that decline is taking place right now.
In general it would be foolish to think that the dollar will remain the dominant global reserve currency forever. And its displacement may take place sooner rather than later.
Once that happens, things will become a LOT more difficult for the US government. They’ll most certainly have to raise taxes. The central bank will have to print more money, sparking more inflation.
And we’ll likely see revolts of the bond market, just like what happened in the UK; just imagine the US government forced to capitulate its sovereignty to the demands of foreign lenders.
But that’s the future. For now, the dollar is still the top dog, only because it hasn’t been displaced (yet).
In fact, at the moment, the US dollar is irrationally strong.
Despite inflation that has reached multi-decade highs, and the growing national debt, the dollar is near an all-time high against the British pound. It’s at a 20+ year high against the euro. It’s strong against many major currencies. It’s even been strong against other asset classes including precious metals, crypto, and more.
So this may be a good time to consider the future and think about turning at least a portion of your irrationally strong dollars into another asset that can stand the test of time.
To your freedom and prosperity,
Simon Black, Founder Sovereign Research & Advisory
https://www.sovereignman.com/trends/the-us-dollar-is-irrationally-strong-right-now-143374/
The Definition of Foreign Exchange Management
The Definition of Foreign Exchange Management
by Kofi Bofah Published on 13 Sep 2019
Foreign exchange is essential to coordinate global business. Foreign exchange management is associated with currency transactions designed to meet and receive overseas payments. Beyond these transactions, foreign exchange management requires you to understand the relevant factors that influence currency values. From that point, you may execute the proper strategy to manage risks and improve potential earnings.
Foreign exchange management is the process of limiting a company's exposure to foreign currency fluctuations. In most cases, this is done by companies that engage in foreign trade.
The Definition of Foreign Exchange Management
by Kofi Bofah Published on 13 Sep 2019
Foreign exchange is essential to coordinate global business. Foreign exchange management is associated with currency transactions designed to meet and receive overseas payments. Beyond these transactions, foreign exchange management requires you to understand the relevant factors that influence currency values. From that point, you may execute the proper strategy to manage risks and improve potential earnings.
Foreign exchange management is the process of limiting a company's exposure to foreign currency fluctuations. In most cases, this is done by companies that engage in foreign trade.
Management Of Foreign Exchange
Foreign exchange management begins with trading currencies to exchange goods and services overseas. International businesses convert overseas profits back into their domestic currency to spend at home. Meanwhile, consumers exchange domestic currency for foreign banknotes to buy overseas goods. These transactions occur within the foreign exchange markets, where networks of private individuals, banks and organized financial exchanges provide the infrastructure to trade international banknotes.
Foreign exchange occurs at rates that are associated with currency valuations. Foreign exchange rates describe the amount of one currency that must be given up to receive one unit of another currency, and they tend to parallel the political and economic environment of a particular country. For example, domestic foreign exchange rates appreciate when the economy is strong and the currency is in high demand to buy the nation’s stocks and real estate. Conversely, currency values fall amidst political and social instability. Foreigners generally liquidate business assets in war-torn nations that struggle with development.
Effective foreign exchange management requires you to preserve purchasing power by staying current on any events affecting rates and operating accordingly. You will exploit the buying power of high exchange rates to acquire overseas goods. Alternatively, low exchange rates are an opportunity to boost overseas sales, as your wares become relatively cheaper overseas.
Foreign Exchange Examples For Governments
Government officials manage foreign exchange reserves to influence the domestic economy. On the national level, low exchange rates are ideal for exporters, while strong currency valuations benefit consumers with increased purchasing power for imports. Treasury leadership may spend domestic currency to buy large amounts of foreign exchange, which effectively devalues the home currency. As of May 2019, China had purchased more than $1.11 trillion in U.S. Treasuries, which devalues its yuan and supports its export economy. https://bizfluent.com/about-6554689-forex-management-.html
Foreign Exchange Management Strategies
Foreign exchange risks include lost profits and purchasing power related to adverse currency movements. Canadian businessmen that hold reserves of Japanese yen suffer when the yen falls. Alternatively, Canadian exporters lose out on sales when Canadian dollars strengthen and make their goods more expensive for foreign buyers.
Foreign exchange risk management calls for diversification. Large corporations expand multinationally to balance currency risks. For example, elevated energy costs benefit resource-rich nations and currencies, while industrialized energy importers are subject to recession and inflation. Caterpillar is a multi-national corporation whose profits in oil-rich Russia may exceed any lost sales in America at that point.
Smaller investors that lack the finances to set up multinational enterprises can diversify accordingly with global or international mutual funds. Both types of funds consist of a portfolio of securities from many different countries, minimizing the risks associated with an economic downturn or currency devaluation in any one country. Global mutual funds also contain securities from the United States, while international mutual funds exclude American securities.
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