Economic News from Deepin Moments and Kitco 11-11-2022
Global De-dollarization is Accelerating, 39 Countries Take Action Against U.S Dollar丨SWIFT丨INSTEX
Deepin Moments: 11-11-2022
Going into 2022, the Federal Reserve has raised interest rates four times in a row, with three more rate hikes likely to follow. Central banks in developed countries have also generally adopted a strategy of following suit by introducing interest rate hikes.
The level of recent interest rate hikes by the Fed and other central banks has exceeded 500 basis points. The global wave of interest rate hikes could lead to a global recession.
Given the lag in the transmission of the effects of monetary policy to the real economy, the dampening effect of interest rate hikes on economic activity will gradually emerge, with the rising cost of funds and reduced liquidity in the capital markets having a significant negative impact on business activities.
Global De-dollarization is Accelerating, 39 Countries Take Action Against U.S Dollar丨SWIFT丨INSTEX
Deepin Moments: 11-11-2022
Going into 2022, the Federal Reserve has raised interest rates four times in a row, with three more rate hikes likely to follow. Central banks in developed countries have also generally adopted a strategy of following suit by introducing interest rate hikes.
The level of recent interest rate hikes by the Fed and other central banks has exceeded 500 basis points. The global wave of interest rate hikes could lead to a global recession.
Given the lag in the transmission of the effects of monetary policy to the real economy, the dampening effect of interest rate hikes on economic activity will gradually emerge, with the rising cost of funds and reduced liquidity in the capital markets having a significant negative impact on business activities.
In the context of the Russia-Ukraine conflict, the "weaponisation" of the US dollar has triggered a security crisis in more sovereign countries, and more and more countries and regions have started the process of "de-dollarisation".
According to statistics, about 39 countries around the world have started the process of "de-dollarisation", with Turkey being the most typical, and oil-exporting countries such as Iran, Venezuela and Russia have started to explore the large-scale use of RMB for settlement.
European countries have also started to promote the process of "de-dollarisation",with the launch of Instrument for Supporting Trade Exchanges (INSTEX) in early 2019 to bypass the SWIFT dollar settlement system.
India's establishment of an Indian rupee based currency settlement system on 1 July 2022 is intended to facilitate the growth of India's foreign trade and promote the Indian rupee as an international currency, while effectively hedging the economic risks to India from US and European sanctions against Russia.
'Expect something far worse than you ever imagined' - Jeffrey Tucker
Kitco News: 11-10-2022
Jeffrey Tucker, President and Founder of the Brownstone Institute, discusses the midterm elections, Fed policy, real estate, inflation, and cryptocurrencies with David Lin, Anchor and Producer at Kitco News.
0:00 - Midterm elections
5:35 - Fed policy
10:55 - Labor markets
14:16 - 'Embedded' inflation
16:14 - U.S. Dollar
19:29 - Real estate
23:15 - Economic outlook
30:20 - Stock markets
32:23 - Crypto
42:22 - Brownstone Institute
News, Rumors and Opinions Friday AM 11-11-2022
KTFA:
Samson: A tribute to the wide attendance and various events.. Baghdad International Fair concludes its activities
10th November, 2022
Concluded Thursday, the activities of the forty-sixth Baghdad International Fair, with the participation of 363 companies from 13 countries, and with a wide public presence, reflecting a true picture of the success of this year's session.
The exhibition witnessed various artistic and cultural activities, such as a display of classic cars, a display of the Iraqi motorcycle team, and other events. The Director-General of the General Company for Iraqi Exhibitions and Commercial Services of the Ministry of Commerce, Hashem Muhammad Hatem, told the Iraqi News Agency (INA), "The Baghdad International Fair witnessed the flock of Iraqi families from various regions to see the most important exhibits and products of companies and countries participating in the exhibition."
KTFA:
Samson: A tribute to the wide attendance and various events.. Baghdad International Fair concludes its activities
10th November, 2022
Concluded Thursday, the activities of the forty-sixth Baghdad International Fair, with the participation of 363 companies from 13 countries, and with a wide public presence, reflecting a true picture of the success of this year's session.
The exhibition witnessed various artistic and cultural activities, such as a display of classic cars, a display of the Iraqi motorcycle team, and other events. The Director-General of the General Company for Iraqi Exhibitions and Commercial Services of the Ministry of Commerce, Hashem Muhammad Hatem, told the Iraqi News Agency (INA), "The Baghdad International Fair witnessed the flock of Iraqi families from various regions to see the most important exhibits and products of companies and countries participating in the exhibition."
Hatem added that "the exhibition is the largest cultural and social gathering, as it includes places to shop for Iraqi, Arab and international goods," stressing that "the company is in high coordination with the security authorities to create safe conditions for families wandering the corridors of the exhibition."
Cultural events
The Baghdad International Fair witnessed the establishment of a number of cultural events and seminars within the pavilions of companies and participating countries, as well as the establishment of fireworks launch events and a display of rare cars. The number of visitors to the exhibition this year exceeded 100,000 visitors during the days of the exhibition, which was widely accepted by the public, which has long been searching for what it wants, especially in the corridors of the Egyptian pavilion, which is characterized annually by launching direct sales of various Egyptian products of clothes, shoes, folk and folk costumes, as well as bags and some Handcraft products.
Outdoor bazaars
During the exhibition, a group of outdoor bazaars was held, in which a large number of women participated, selling beautiful products and accessories for young people, as well as soaps, cosmetic oils and skin care products made from natural raw materials without artificial additives. A number of ministries participated in the exhibition with their own pavilions, such as the Ministry of Industry, whose pavilion was distinguished by the participation of all its companies and distinguished products.
Strong competition
One of the cases that I (conscious) has noticed, is that there is a feverish competition between beekeepers to sell their products of honey, wax and royal food, in addition to some of their farm products such as sesame and rashi, and the manufacture of Alolouja sweets, tamarind, raisins and other field products.
While the manufacture and manufacture of Iraqi nuts had a presence in the direct selling bazaar, as well as the sale of coffee was a remarkable presence, as several local companies competed over the quality and taste of what is offered and presented to visitors to the exhibition, who expressed their satisfaction with those products, and they also received the approval of the performance of the exhibitors for those products.
Tasting competitions
Many of the pavilions participating in the exhibition witnessed the holding of competitions, especially some banks, in order to introduce their activities in the Iraqi banking market, in addition to holding festivals to taste food and sweets free of charge for the public to try. These competitions also witnessed the presentation of valuable prizes to the individuals and families participating in them. LINK
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Samson: Italy : The volume of trade exchange with Iraq reached 656 million dollars last year
11th November, 2022
The Italian Commercial Attaché confirmed today, Friday, that the volume of trade exchange between Iraq and Italy amounted to 656 million dollars last year, indicating that the volume of Iraqi exports to Italy amounted to 3.4 million dollars annually
The Italian regional commercial attache to Iraq, Elisa Salazar, said in a statement to the Iraqi News Agency (INA), that "the participation of Italian companies in this year's Baghdad exhibition comes to efforts to contract with the Iraqi government to rehabilitate infrastructure, especially industrial (transformation) facilities capable of manufacturing Iraqi raw materials for the purpose of importing them", due to the high quality of Iraqi raw materials
She added that "Iraqi exports to Italy have declined a lot in recent years, after Italy was importing wool, leather and various kinds of salts from Iraq," stressing "her country's keenness to establish the best economic and trade relations with Iraq in a way that parallels the historical relationship between the two friendly peoples LINK
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Samson: An exhibition of Spanish companies in Baghdad next year
11th November, 2022
Head of the Spanish-Iraqi Chamber of Commerce, Amanj Yagatun Rashid, confirmed that Spain participated this year with only 5 companies due to the lack of time for announcing the establishment of the 46th session of the Baghdad International Fair, announcing the establishment of a specialized Spanish exhibition early next year.
Rashid said in a statement to the Iraqi News Agency (INA) today, Friday: "The activity of the five participating companies is now distributed among companies to rehabilitate factories and other food and construction companies, as well as companies of vegetable oils, detergents and cosmetics."
He pointed out that "the previous session of the Baghdad Fair witnessed the attendance of 15 Spanish companies, but unfortunately they did not have opportunities to contract with the Iraqi government," expressing "his hope that the Spanish presence in the Baghdad International Fair in the coming sessions will be greater," noting that "early next year" it will witness the establishment of a special exhibition for Spanish companies at the Baghdad International Fair." LINK
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Courtesy of Dinar Guru
Pimpy Here we are in November already. You have the rest of November and all of December to try to pass a budget for 2023. We know that the draft is going to be put forward. Can they actually pass the draft before the end of the year? That would be important...is there going to be a rate change in there? You heard the Central Bank of Iraq saying that if you don't hear it from us then it's just a rumor.
Jeff there's no way in hell Iraq will tell you they have plans to increase the exchange rate...You have to put this entire investment under a microscope and look at it very closely to see what their actions are and what they are doing because there's no way in hell they're going to tell you that they plan to adjust that exchange rate...Due to insider trading laws they will never tell you that they plan to increase the exchange rate.
(Must Watch). The US Dollar Gets DECIMATED, Bond Yields EVAPORATE, Stocks SKYROCKET!
Greg Mannarino: 11-10-2022
A Vicious Cycle Leading to Social Unrest
Lynette Zang: 11-10-2022
This is the status of the reset……
Waiting (For a Recession) Is the Hardest Part
Waiting (For a Recession) Is the Hardest Part
Posted November 6, 2022 by Ben Carlson
In the past you had to read between the lines to understand the Fed’s thinking about monetary policy and what was coming next. These days they won’t shut up about what they think and what they’re going to do. I wouldn’t consider myself a Fed watcher but I’m fascinated with what the Federal Reserve is doing right now. While not a regular Fed watcher I did watch Jerome Powell’s press conference this week after the central bank raised rates 75 basis points for the fourth time in a row to hear what he had to say about their plans.
His message was crystal clear — the Fed is willing to send us into a recession to bring down inflation and they seem to think it’s our only option.
Waiting (For a Recession) Is the Hardest Part
Posted November 6, 2022 by Ben Carlson
In the past you had to read between the lines to understand the Fed’s thinking about monetary policy and what was coming next. These days they won’t shut up about what they think and what they’re going to do. I wouldn’t consider myself a Fed watcher but I’m fascinated with what the Federal Reserve is doing right now. While not a regular Fed watcher I did watch Jerome Powell’s press conference this week after the central bank raised rates 75 basis points for the fourth time in a row to hear what he had to say about their plans.
His message was crystal clear — the Fed is willing to send us into a recession to bring down inflation and they seem to think it’s our only option.
When asked about the possibility of a soft landing for the economy Powell didn’t sound like they were even trying:
I think to the extent rates have to go higher and stay higher for longer it becomes harder to see the path. It’s narrowed. I would say the path has narrowed over the course of the last year, really.
And I just think that the inflation picture has become more and more challenging over the course of this year, without question. That means that we have to have policy being more restrictive, and that narrows the path to a soft landing, I would say.
In other words, we are going to break the economy to slow inflation.
The Fed’s line of thinking here is if they don’t do something now, we run the risk of inflation becoming entrenched. And if inflation becomes entrenched in our collective psychology it’s going to take an even bigger downturn in the future to put an end to it.
They want us to take some medicine now so we don’t have to amputate an appendage in the future. Fed officials desperately want to avoid a replay of the 1970s.
I don’t think this is a 1970s redux but they don’t care what I think.
It’s hard to believe Powell and company are willing to throw us into a recession on purpose but they seem to think they can always just stimulate on the other side of it.
Powell said as much this week:
To continue reading, please go to the original article here:
https://awealthofcommonsense.com/2022/11/waiting-for-a-recession-is-the-hardest-part/
Game Over! China's New Oil Discovery Will Collapse the US Economy!
GAME OVER! China's NEW OIL DISCOVERY Will Collapse The US Economy! No Petrodollar & De-Dollarization
Investing Future: 11-10-2022
The BRICS countries have been discussing various possibilities of creating an alternative international currency. It remains to be seen what China is going to do.
The PBoC has over $1 trillion in US Treasury debt, and it is unlikely that the Chinese would be willing to lose that amount of money in an effort to dethrone the USD. Much more likely is a gradual divestment that would not cause disruption in the markets.
Another major player in international financial markets is Saudi Arabia. The relations between the Kingdom and the US have apparently deteriorated to a certain extent as the Russians continue to maintain close contact with Saudi authorities. It is widely known that the petrodollar system depends largely on the Saudi insistence on receiving payment in dollars as do many other major oil producers.
GAME OVER! China's NEW OIL DISCOVERY Will Collapse The US Economy! No Petrodollar & De-Dollarization
Investing Future: 11-10-2022
The BRICS countries have been discussing various possibilities of creating an alternative international currency. It remains to be seen what China is going to do.
The PBoC has over $1 trillion in US Treasury debt, and it is unlikely that the Chinese would be willing to lose that amount of money in an effort to dethrone the USD. Much more likely is a gradual divestment that would not cause disruption in the markets.
Another major player in international financial markets is Saudi Arabia. The relations between the Kingdom and the US have apparently deteriorated to a certain extent as the Russians continue to maintain close contact with Saudi authorities. It is widely known that the petrodollar system depends largely on the Saudi insistence on receiving payment in dollars as do many other major oil producers.
In this case geopolitical considerations play an important role in how financial equilibrium functions. If the Chinese and Russians succeed in weaning Saudi Arabia away from the US, there could be great changes in Forex
China Oil Discovery. China’s state-owned oil company CNOOC has tapped commercial oil and gas flows from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China on 28 July.
According to Chinese state media, the discovery at the Weiye 1 wildcat well, China’s first offshore shale well, might be a game changer for the country’s reliance on oil and gas imports.
CNOOC believes that the Beibu gulf contains 8.76 billion barrels of shale oil, and claimed that the wildcat well flowed 20 cubic metres per day of shale oil and 1,589 cubic meters per day of natural gas, which the Chinese oil giant is calling a commercial discovery.
The recent confirmation by Saudi Crown Prince Mohammed bin Salman, that the US is now regarded as just another one of its partners in a new global order, it provides an opportunity for China and its allies to share the leadership position with Washington
Saudi Arabia last week reiterated its commitment to China as its “most reliable partner and supplier of crude oil,” along with broader assurances of its ongoing support in several other areas.
It seems that the Saudi Crown Prince seemingly now sees the US as a partner just for its security considerations, with no meaningful return on Saudi Arabia’s part, whilst regarding China as its key partner economically and Russia as its key partner in energy matters, should not surprise the US.
As a reminder, back in March 2018, China introduced yuan-priced oil contracts as part of its efforts to make its currency tradable across the world, but they haven’t made a dent in the dollar’s dominance of the oil market, largely because the USD remained the currency of choice for oil exporters.
But, as Pozsar also noted recently, for China the use of dollars has become a hazard highlighted by US sanctions on Iran over its nuclear program and on Russia in response to its invasion of Ukraine.
If Saudi Arabia joins BRICS, it would be a promotion to the Middle East countries to strengthen their ties with BRICS countries and weaken the intervention and influence of the US in the area.
The oil for security framework between Saudi Arabia and the US needs to be adjusted in light of the evolving international situation
Holly, Frank26 and more....Thursday Afternoon 11-10-2022
KTFA:
Samson: The Governor of the Central Bank of Iraq participates in the fall conference of the Iraqi British Business Council in Dubai
10th November, 2022
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, participated in the Autumn Conference of the Iraq British Business Council, which opens its work today, Thursday, in the United Arab Emirates / Dubai.
His Excellency said: The efforts made by countries in creating industrial and agricultural development and providing job opportunities and development cannot be achieved without the banking sector responding to the aspirations and expectations of investors and workers in the economic sector.
He added: Money is the lifeblood and the means for development, development and prosperity. We believe that our banking sector has become qualified to play the roles that everyone aspires to.
KTFA:
Samson: The Governor of the Central Bank of Iraq participates in the fall conference of the Iraqi British Business Council in Dubai
10th November, 2022
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, participated in the Autumn Conference of the Iraq British Business Council, which opens its work today, Thursday, in the United Arab Emirates / Dubai.
His Excellency said: The efforts made by countries in creating industrial and agricultural development and providing job opportunities and development cannot be achieved without the banking sector responding to the aspirations and expectations of investors and workers in the economic sector.
He added: Money is the lifeblood and the means for development, development and prosperity. We believe that our banking sector has become qualified to play the roles that everyone aspires to.
His Excellency commended the efforts of the organizers of the conference, and the generosity of the brothers in the United Arab Emirates.
Central Bank of Iraq
Media Office
10/11/2022 LINK
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Samson: How will the government recover the smuggled money abroad?
10th November, 2022
The legal expert, Ali Al-Tamimi, explained the legal ways through which the government of Muhammad Shiaa Al-Sudani can recover the smuggled and looted funds outside the country.
Al-Tamimi told Al-Maalouma, "The best international move to recover the smuggled funds abroad, which is estimated at 500 billion US dollars, is through the 2003 money laundering agreement signed by Iraq in 2007 with the help of these countries, as well as in accordance with the Baghdad and Washington agreement in accordance with Article 28 of the agreement for the year 2008".
He added that "Iraq has the right to recover its money in accordance with Article 50 of the United Nations Charter, which affirms the right of countries that fight organizations under Chapter VII of the Charter of the United Nations to request the assistance of the United Nations and Iraq was fighting the terrorist ISIS under Chapter VII pursuant to Resolution 2170 of 2014."
And he indicated that "some countries, including those mentioned, have a lot of smuggled money and are also wanted by the judiciary, and they can help Iraq recover its smuggled money, as the US Federal Bank contains 65 billion dollars frozen belonging to the previous regime and Iraq can claim it, according to the above agreement for the year 2008." LINK
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Samson: From 6 axes .. Al-Sudani is preparing to launch a "big reform project" for the economy
10/11/2022 08:49:40
An adviser to the Prime Minister revealed that the Prime Minister, Muhammad Shia Al-Sudani, is preparing to launch a "major reform project" for the Iraqi economy.
The Chief Adviser for Economic Affairs, Abdul-Hussein Al-Anbaki, said in a press statement that "Al-Sudani is carrying out a major reform project for the Iraqi economy as a first step for the executive authority
He added that "this project works to consolidate the large competitive market, protect vulnerable segments, support the local product significantly, conduct banking reform that enables the agency to have correspondent banks abroad, adopt international standards in the field of banking reform and reduce corruption by fighting it
And he indicated that "these things are added to the empowerment of the private sector and the improvement of the business environment," expressing his hope "that economic activity outside the state will move forward LINK
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Thursday Thoughts From Holly
Good morning everyone the most important thing we can do why we still wait, is keep your vibrations high, stay positive and avoid negative people and negative comments.
The doom and the gloom, the snide comments just lower your vibration and slows this whole thing down. We’re coming to the end of this, keep your vibration high!
Keep your positive frame of mind! -Holly
Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: All we hear and see is now about changing the exchange rate and heck even the World Bank representative is in an interview on television talking to us and saying Iraq needs to address the rate change.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The Kurds just got their last 2 positions agreed upon and all 22 cabinet positions are filled for Sudani. We have a full government we just have now to have it announced. FRANK I had no concerns whatsoever about the two missing political positions with the Kurds and now that they are official it seems the government is ready to be announced...
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Qatar announces cut-off of European gas supplies in support of Russia!
Deepin Moments: 11-10-2022
The European Union has recently come up with a new move to cap the price of natural gas, mainly to target Russian gas. In fact, it was not the EU's idea, but that of the Anglo-Saxon and Jewish consortium, which wanted to curb Russian gas and then make the EU a regular customer of American LNG.
As a result, before Russia could comment, Qatar quit, strongly opposing the EU's plan and saying that it would no longer supply gas to Europe as long as the EU allowed such anti-competitive behavior.
Economic News From Deepin Moments and Heresy Financial 11-10-2022
The era of de-dollars is accelerating! More than 60 countries have enabled RMB settlement
Deepin Moments: 11-10-2022
Argentina has publicly fired the first shot at de-dollarization, starting to use RMB (short for renminbi or ) for trade settlement, a move that is undoubtedly a head-butt for Biden, who is currently in the midterm elections in the United States.
CCTV news, Argentina RMB clearing bank service launch ceremony, held in the Argentine capital Buenos Aires. So far, Argentina will directly adopt RMB for settlement in its trade with China.
The establishment of the RMB clearing mechanism will facilitate cross-border transactions between enterprises and financial institutions of both countries and can further promote trade and investment facilitation.
The era of de-dollars is accelerating! More than 60 countries have enabled RMB settlement
Deepin Moments: 11-10-2022
Argentina has publicly fired the first shot at de-dollarization, starting to use RMB (short for renminbi or ) for trade settlement, a move that is undoubtedly a head-butt for Biden, who is currently in the midterm elections in the United States.
CCTV news, Argentina RMB clearing bank service launch ceremony, held in the Argentine capital Buenos Aires. So far, Argentina will directly adopt RMB for settlement in its trade with China.
The establishment of the RMB clearing mechanism will facilitate cross-border transactions between enterprises and financial institutions of both countries and can further promote trade and investment facilitation.
RMB is the official currency of the People's Republic of China[note 1] and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. https://en.wikipedia.org/wiki/Renminbi
Japan Dumping Treasuries at Record Pace
Heresy Financial: 11-10-2022
Japan's foreign reserves fell by a record amount in October, marking three months straight of their foreign reserves falling. This comes after September, which is when they started intervening to save their currency.
As we've talked about a few times, their currency has been virtually failing and it has been falling versus other currencies like the dollar extremely quickly.
This prompted them to intervene on the 22nd of September for the first time in years to try and prop up the value of their yen, which ultimately failed and caused them to have to intervene again about a month later on the 21st of October.
Now, in order to intervene in your currency's decline, which means you have to be selling something, so you have the purchasing power to buy back your own currency. You can't buy back your own currency with your own currency. There's got to be an exchange going on.
Hence, ‘foreign exchange’. What we're seeing here is they’re selling reserves of foreign assets and then using purchasing power from that to buy back the currency here. When you buy something back and add that which buying pressure is going to bid up the price and stop the price decline.
Timecodes
0:00 Japan’s Foreign Reserves Fall for Third Month Straight
1:04 Japan Sells off its Reserves
2:43 Japan Trying to Sell Off US Treasuries
4:49 A Problem That is Still to Come
News, Rumors and Opinions Thursday AM 11-10-2022
RV Excerpts and Rumors from the Restored Republic via a GCR as of Thurs. 10 Nov. 2022
Compiled Thurs. 10 Nov. 2022 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 9 Nov. MarkZ: No change from previous intel: “Most of my sources say it will happen by Fri. 11 Nov. They were rolling through the bonds at a reasonable rate.”
Tues. 8 Nov. Bruce: “Sources say everything will be released this week. One source said notifications would go 24 hours after the Election, that is if a Red Wave occurred Tier 4B (us, the Internet Group) would be notified by Thurs.10 Nov, and start appointments Thurs. evening or Fri. …The Big Call 667-770-1866 pin123456#
RV Excerpts and Rumors from the Restored Republic via a GCR as of Thurs. 10 Nov. 2022
Compiled Thurs. 10 Nov. 2022 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 9 Nov. MarkZ: No change from previous intel: “Most of my sources say it will happen by Fri. 11 Nov. They were rolling through the bonds at a reasonable rate.”
Tues. 8 Nov. Bruce: “Sources say everything will be released this week. One source said notifications would go 24 hours after the Election, that is if a Red Wave occurred Tier 4B (us, the Internet Group) would be notified by Thurs.10 Nov, and start appointments Thurs. evening or Fri. …The Big Call 667-770-1866 pin123456#
Complete Blood Bath in Crypto and Stock Markets on Wed 9/11! It’s the END of the financial system – the biggest crash in human history. Global Financial Reset Imminent!!!
Read full post here: https://dinarchronicles.com/2022/11/10/restored-republic-via-a-gcr-update-as-of-november-10-2022/
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Courtesy of Dinar Guru
Pimpy The Central Bank of Iraq has already warned people to stop paying attention to individuals who are talking about the change in the Iraqi exchange rate...stating they have no intentions to change it for 5 years. That's what they say. Quick reminder, when the Kuwait dinar was finally reinstated...they had told the world they were not going to reinstate the rate for quite a while. [Post 1 of 2....stay tuned]
Pimpy Then they did it two days later. I'm not saying that Iraq is going to change the rate of the IQD. I'm just saying you got to understand why they won't just come out and tell you they're going to do it. You would get a lot of speculators jumping all over the Iraqi dinar. It'd be a bad situation. [Post 2 of 2]
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KTFA:
Samson: After its 3-day decline, oil prices are stabilizing as US inflation data awaits
10/11/2022 10:26:20
Oil prices stabilized today, Thursday, after a three-day decline, affected by the renewal of restrictions to combat “Covid-19” in China, the largest importer of crude in the world, as well as affected by traders’ anticipation of US inflation data, which may provide indications Regarding a future rate hike.
Brent crude futures fell two years to $92.63 a barrel. West Texas Intermediate crude futures fell eight cents to $85.75 a barrel. Brent prices are down more than 6% this week, while WTI is down more than 7%. Aramco will supply all contracted quantities of oil to Asian refineries in December.
Today, Thursday, the Chinese city of Guangzhou, the center of manufacturing, announced that it had recorded more than 2,000 infections with the Corona virus, which is the third day in which infections exceed this level in the worst outbreak in the city so far. Yesterday, Wednesday, the authorities demanded millions of residents to conduct tests for the disease, and imposed a closure on a neighborhood, while local infections in China reached their highest levels since April 30.
Data on the consumer price index in the United States will be released later on Thursday, and it is expected to show a decrease in the level of core inflation, monthly and annually. This may prompt the Federal Reserve (the US central bank) to reduce the size of the planned increase in interest rates, which will be considered a positive indicator of economic growth and demand for oil.
And the US Energy Information Administration announced that crude stocks increased by 3.9 million barrels last week, reaching their highest levels since July 2021. But fuel stocks fell by 900,000 barrels, the lowest since November 2014, while distillate stocks fell by 500,000 barrels. LINK
Japan's Printing Money To Solve Inflation - This Won't End Well!
Sean Foo: 111-10-2022
Japan is injecting stimulus money to help ease inflation, but this will likely cause an even bigger inflation monster down the road!
As the BOJ's currency intervention is failing to keep the Yen from crashing, consumer prices are soaring in Japan with inflation reaching a 33-year high. And to fight this, they are going to print money to ease the higher cost of living. But beware of the law of unintended consequences!
Big Trouble Brewing at Banks that Will Rival the 2008 Subprime Mortgage Crisis
Steven Van Metre: 11-9-2022
Wednesday Night News, Rumors and Opinions 11-9-2022
KTFA:
Samson: Agency: China and Russia have resorted to building gold reserves
9th November, 2022
Bloomberg Agency reported that the dominance of the US currency and Washington's strict measures to maintain it are forcing some countries, such as Russia and China, to build gold reserves.
According to the article, data from the World Gold Council indicate that central banks around the world bought 400 metric tons of gold in September, which is the equivalent of the usual purchase volume for an entire year.
KTFA:
Samson: Agency: China and Russia have resorted to building gold reserves
9th November, 2022
Bloomberg Agency reported that the dominance of the US currency and Washington's strict measures to maintain it are forcing some countries, such as Russia and China, to build gold reserves.
According to the article, data from the World Gold Council indicate that central banks around the world bought 400 metric tons of gold in September, which is the equivalent of the usual purchase volume for an entire year.
In the agency's view, all of this can be compared to preparing for "the end of the world, when people pile up canned goods and firearms in shelters with loads of gold bars." The article added: "Bullion has one important advantage: unlike a bond, it does not bind you to an unreliable third party."
In earlier periods, US national debt securities were considered a "risk-free" investment, but sanctions have frozen the reserves of the Bank of Russia, and the European Union is considering transferring this money to Ukraine, so "in a world where no one can be trusted, it makes sense that one saves oneself a golden rescue pillow." LINK
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Samson: A country neighboring Iraq signs a memorandum of understanding worth about 40 billion dollars with "Gazprom"
Iranian Oil Minister Javad Oji announced the signing of a memorandum of understanding worth nearly $40 billion with Russia's "Gazprom", IRNA news agency reported on Wednesday.
"We have signed a memorandum of understanding worth nearly $40 billion with Gazprom," Oji said on the sidelines of the Iranian cabinet meeting today, Wednesday.
The Iranian minister added, "We also put the development of fields and gas transmission lines on the agenda." He continued, "We have started bartering oil products, and we are also continuing to discuss the gas barter, and we hope that it will be implemented this winter."
Referring to the measures taken by the Iranian Oil Ministry to expand foreign investment, the minister said: "Today, large Russian companyes are investing in our country, including Gazprom." LINK
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Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The parliament is putting pressure daily, coming on TV asking the CBI to make the rate change to curb inflation and help the citizens. FRANK: Isn't that amazing. We know the GOI and the CBI are working in cahoots together to bring forth the new exchange rate. But the GOI will not release the new government until we know the new exchange rate is ready to be released from the governor of the CBI...Once that happens all hell will break loose!
Samson Article: "Economist : Reducing the dollar exchange rate is not impossible and the current time is suitable for monetary change" Quote: "decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise...the current and next two years are the most appropriate time to bring about this monetary change."
Goldman Sachs Expects Gold To SURGE Higher. Corporate Layoffs Accelerate. CRYPTO SLAMMED.
Greg Mannarino: 11-9-2022
Cashing Out on Real Estate? Gold During Hyperinflation?...Q&A with Lynette Zang & Eric Griffin
11-9-2022
Viewer Questions:
Question 1: 1:02 I understand that the price of gold and silver will rise once hyperinflation. Will the final price be considered the fair market value and last for quite a while, or will these prices only remain for a short window, and we must act fast to sell some of our position to pay off mortgages etc., and then prices will come crashing down again?
Question 2: 4:33 During a bank bail in, would they bail in CD's?
Question 3: 6:03 Do you believe there will be a debt market implosion? Or will the FED and other institutions not allow it?
Question 4: 8:04 If you cash out real estate now in a good market, what are the best ways to de-bank the money?
Question 5: 8:56 I have done major precious metals purchases and feel I am all set. However, I still have $100K cash as my emergency fund. I am thinking to put this money in 3% savings account or short-term treasuries. Is there any risk, or is there better options to park the money in short term and still have it readily accessible?
Question 6: 11:43 If the stock market crashes will gold prices drop?
Question 7: 15:22 What do you think of goldbacks?
News, Rumors and Opinions Wednesday Morning 11-9-2022
RV Excerpts and Rumors from the Restored Republic via a GCR as of Wed. 9 Nov. 2022
Compiled Wed. 9 Nov. 2022 12:01 am EST by Judy Byington
Global Currency Reset:
MarkZ: “Most of my sources say it will happen between now and Fri. 11 Nov. They were rolling through the bonds at a reasonable, responsible rate.”
Tues. 8 Nov. Bruce: “Sources say everything will be released this week. One source said notifications would go 24 hours after the Election on Tues.-Wed. 8, 9 Nov. If a Red Wave occurred it looks like Tier 4B (us, the Internet Group) would be notified Thurs.10 Nov, which means we would start appointments Thurs. evening or Fri. …
RV Excerpts and Rumors from the Restored Republic via a GCR as of Wed. 9 Nov. 2022
Compiled Wed. 9 Nov. 2022 12:01 am EST by Judy Byington
Global Currency Reset:
MarkZ: “Most of my sources say it will happen between now and Fri. 11 Nov. They were rolling through the bonds at a reasonable, responsible rate.”
Tues. 8 Nov. Bruce: “Sources say everything will be released this week. One source said notifications would go 24 hours after the Election on Tues.-Wed. 8, 9 Nov. If a Red Wave occurred it looks like Tier 4B (us, the Internet Group) would be notified Thurs.10 Nov, which means we would start appointments Thurs. evening or Fri. …
Global Financial Crisis:
Inflation has been stuck at 40-year highs for over 8 months.
A falling stock market has wiped out more than $9 trillion of wealth.
On an average 401(k)s have dropped more than 20%. Totaling more than $2.1 trillion in losses.
A long, severe Recession was all but guaranteed.
https://dinarrecaps.com/our-blog/the-us-fed-and-the-treasury-are-at-odds-luke-gromen
Read full post here: https://dinarchronicles.com/2022/11/09/restored-republic-via-a-gcr-update-as-of-november-9-2022/
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Courtesy of Dinar Guru
RVAlready From what I have seen of the news, Iraq will continue to lie about the RV. But, I think it will happen sooner, rather than later. I believe the RV and the budget are actually ready to go.
Nader From The Mid East I think they're going to put it 1 to 1. I don't think they're gonna put it 1200 or 1350. When I don't know...the exchange rate they're gonna change. When? I don't know...Me, I'm targeting 2023. If they do it before, good for them and good for us. I wish they could do it before...it's a waiting game...when they stop selling dinar for a couple of days all over the world, you know that money is gonna switch...
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ALERT! Fake Silver Price JUMPS Over $20 as Physical Disappears! $800/oz Silver is Coming!
(Bix Weir) Nov 4, 2022
The Silver markets are shutting down and preparing for the End Game so if you can just hang on through the coming CHAOS you will be rewarded! I expect to see both $800/oz silver AND -$40/oz silver as the COMEX fails over and over again. Remember...silver is ONLY priced on the COMEX for now and that price is just an illusion. We are holding for "After the Crash!"
Are Government Bonds Entering a Final Crisis Phase?
Lynette Zang: 11-8-2022
Great Britain is the canary in the coal mine, and they are leading the way in what is most likely to happen in advanced economies.
And you might say, "well I don't live in Great Britain, so why do I care?" And the reason why you care number one, is because we're all interconnected. So what happens in one part of the world, quite honestly is an indication that could spread throughout the global economy.
And the UK has already started financial repression or the citizens are entering a winter that could look pretty darn gloomy. Whether you realize it or not, so are we.
Chapters:
0:00 Why Great Britain’s Financial Crisis Matters
1:50 Financial Repression
6:44 Bank of England’s Pledge
8:49 BOE Sells Bonds
12:46 UK Treasury Transfer
16:40 Central Banks Buying Record Gold
"The US Fed and the Treasury Are At Odds" Luke Gromen
Luke Gromen: The US Fed and Treasury are at Odds
Palisades Gold Radio: 11-8-2022
Luke discusses how Russia has proven to be far more resilient than the West expected. They are massively miscalculating Russia's true GDP, which can be calculated based on the value of a barrel of oil.
We're now seeing the consequences as Europe and the U.K. both have an energy crisis. The U.S. has tried to mitigate the impact by dipping into the Strategic Reserve. He says, "If you want to understand the true value of oil, fill up your car, go for a long drive until you run out, and then push it back to where you started."
We've had the worst year in treasury markets since 1798. Russia was successful in defending their currency since they required 'less friendly' buyers to pay with Rubles.
Luke Gromen: The US Fed and Treasury are at Odds
Palisades Gold Radio: 11-8-2022
Luke discusses how Russia has proven to be far more resilient than the West expected. They are massively miscalculating Russia's true GDP, which can be calculated based on the value of a barrel of oil.
We're now seeing the consequences as Europe and the U.K. both have an energy crisis. The U.S. has tried to mitigate the impact by dipping into the Strategic Reserve. He says, "If you want to understand the true value of oil, fill up your car, go for a long drive until you run out, and then push it back to where you started."
We've had the worst year in treasury markets since 1798. Russia was successful in defending their currency since they required 'less friendly' buyers to pay with Rubles.
The West wants to cap Russia's energy prices, but that seems quite unrealistic. The U.S. is seeing shortages of distillates and high diesel prices, while inflation remains persistent. There is a feedback mechanism between energy, inflation, and sovereign debt markets. Energy is required for everything, and cheap energy is necessary to maintain the system at current sovereign debt levels.
We are starting to see debt sustainability issues. Energy eventually connects back in a feedback loop, as everything is inter-related. At some point, things break, as we've seen with the U.K. pensions.
Rising dollars create a bad situation for everyone. It weakens domestic corporations and ultimately turns everything into a balance sheet contest. There is an argument that running the dollar up will hurt the U.S. last, but what if the U.S. is wrong this time, and it doesn't hurt Russia, China, and India that much.
Countries seem to be accumulating gold instead of dollars, and a recent buyer of 300 billion worth did not their identity. This is starting to look like a transition away from the dollar and into gold.
OPEC may have been making a strategic move with Saudi Arabia. They realize that if the West can choke out Russia, then they're likely next. Also concerning is that the U.S. has demonstrated its willingness to steal FX reserves of other nations.
Gold is likely to be a politically managed metal until the day it is not. The Treasury recently stated on Monday that the U.S. Federal deficit is expected to double next year. This throws pressure back on the Fed and certainly means that rates and the dollar will continue rising.
It looks like the Fed and Treasury are fighting.
Once the U.S. fiscal situation gets acute enough, you're going to see gold take off. When the Fed finally pivots, it should be good for both energy and metals markets.
Currently, energy is looking excellent compared with treasuries. A Fed pivot is likely to happen sooner rather than later, but they have not budged so far. Larry Summers has stated that we are nearing a "doom loop".
Time Stamp References:
0:00 - Introduction
0:37 - Global Signposts
8:32 - Treasuries & Energy
12:25 - Yields & a Rising Dollar
15:52 - Oil In Other Currencies
23:14 - Foreign Reserves & Gold
26:40 - Purpose of OPEC Cuts
28:52 - C.B. Gold Demand
32:43 - Basel & Derivatives
35:33 - MOVE Index & The Fed
36:52 - Treasury Borrowing 2X
41:36 - Energy Markets & Bonds
44:14 - Fed Pivot Effects
45:32 - Hikes & Sector Risks
52:14 - Fed & Inflation Targets
53:15 - Canada & China Divestment
57:06 - Wrap Up
Talking Points From This Episode
- The West's miscalculation of the true value of energy.
- Treasury market risks and why the West needs cheap energy.
- The U.S. Fiscal deficit is set to double next year.
- Why the metals and energy are both likely to do well when the Fed pivots.
More News, Rumors and Opinions Tuesday PM 11-8-2022
TNT:
Tishwash: Morocco is preparing to host the annual meetings of the Bank and the International Monetary Fund
Today, Tuesday, Moroccan Prime Minister Aziz Akhannouch held a meeting devoted to following up on the preparations of the city of Marrakesh to host the annual meetings of the World Bank Group and the International Monetary Fund, in October 2023.
According to a government statement, "a copy of it, 14,000 people from all over the world will participate in the meetings. 189 member states of the two institutions The preparatory day meeting will be followed by a series of meetings aimed at making the event organized on the African continent for the first time in 50 years a success.
TNT:
Tishwash: Morocco is preparing to host the annual meetings of the Bank and the International Monetary Fund
Today, Tuesday, Moroccan Prime Minister Aziz Akhannouch held a meeting devoted to following up on the preparations of the city of Marrakesh to host the annual meetings of the World Bank Group and the International Monetary Fund, in October 2023.
According to a government statement, "a copy of it, 14,000 people from all over the world will participate in the meetings. 189 member states of the two institutions The preparatory day meeting will be followed by a series of meetings aimed at making the event organized on the African continent for the first time in 50 years a success.
During this meeting, the Prime Minister reviewed all the stages that the preparations have gone through and the rest of them, as well as the communication plan that was prepared to keep pace with Our country's embrace of these meetings The meeting was attended by a number of ministers and relevant officials.
The Annual Meetings are usually held for two consecutive years at the headquarters of the World Bank Group and the International Monetary Fund in Washington, DC, and every third year in one of the member countries. Under the umbrella of the annual meetings, central bank governors, finance and development ministers, and private sector executives meet.
Representatives of civil society, the media, and academics will also attend to discuss issues of global concern, including the outlook for the global economy, global financial stability, poverty eradication, economic growth, job creation, climate change, and other current issues.
Last week, the Moroccan Prime Minister met representatives of the World Bank and the International Monetary Fund, at the conclusion of their annual consultative visit by representatives of the two mentioned institutions to various countries of the world. link
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Courtesy of Dinar Guru
Nader From The Mid East Latest news, the dinar sales gone down since 2 years. It's getting good...I think a lot of news is going to come out this week.
Frank26 Article: "Al-Eqabi: The 2023 budget will be explosive and reveals the reason for Al-Najjar's resignation" Ka-Boom! What we told you 'IOO' is now a standing ovation...The education of the monetary reform told the citizens in explosive details! Quote: "After changing the exchange rate, the 2023 budget is sure to be explosive and we expect it's actual revenue to reach $120 billion dollars..." By the way a program rate is not an explosion!
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KTFA:
Samson: President of the Republic: Iraq currently has a strong economic situation that enables it to complete projects
08/11/2022 12:47:58
The President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, at his residence in Sharm El Sheikh, the British Minister of State for Foreign Affairs, Commonwealth Affairs and Development James Cleverly, pointing out that Iraq currently has a strong economic situation that enables it to complete projects.
The office of the President of the Republic stated in a statement received by {Euphrates News} that, "In the meeting, which was held on the sidelines of the United Nations Climate Summit COP 27, friendship and cooperation relations between Iraq and the United Kingdom were discussed, and ways to strengthen them."
The President of the Republic spoke about the economic impact of Iraq and its people in the past period, especially during the war against the criminal organization Daesh, but the insistence of the Iraqis to proceed on the path of peace and prosperity made the country maintain its high position in the region, noting that Iraq currently possesses a strong economic situation that enables it to completing projects that serve his children.
They also discussed environmental problems and climate change in the region and the world, and their negative effects in increasing desertification and water scarcity, which affect the lives and livelihoods of citizens and produce health and economic damage.
The president pointed out that "the phenomenon of climate change affects all of humanity, but Iraq is one of the countries affected by it greatly, stressing the need to take the necessary measures to reduce it, and the importance of international cooperation and providing the necessary support to overcome these risks through serious joint work and the exchange of experiences."
For his part, Minister Cleverly praised Iraq and its people, pointing to the importance of the close relations between the two countries and the need to expand horizons of cooperation in various fields, including those related to confronting the phenomenon of climate change and protecting the environment because of the damage this phenomenon affects all peoples of the world, pointing to the importance of strengthening international efforts and activating ambitious plans through a joint international effort to confront this phenomenon. LINK
The Current Global Economic COLLAPSE And Financial System MELTDOWN Will Accelerate.
Greg Mannarino: 11-8-2022
ALERT! Silver OTC Derivatives at BofA to ZERO OUT on December 31, 2022!! BUY SILVER!
(Bix Weir) 11-8-2022
On December 31, 2021 Bank of America held over 1.2Boz of leased Silver hedged by OTC Derivatives with 1yr Maturity! ALL WILL EXPIRE by DECEMBER 31, 2022! All this silver came out of the criminal market riggers at JP Morgan and will pass through BofA on it's way to both Warren Buffett & Elon Musk...
Note: the Buffett portion will be headed right to the US MINT to "add to the nest" of the new Gold & Silver monetary system!! YOU HEARD IT from Roota FIRST!!