Congress Can Restore The Integrity of the Dollar

Congress can restore the integrity of the dollar

by David Brat and Alexander William Salter, Opinion Contributors - 11/18/22

All government agencies try to maximize power and minimize accountability, but the Federal Reserve is in a league of its own. What began as a quasi-public clearinghouse with the limited function of stopping bank runs has evolved into a monetary-regulatory behemoth. Its sphere of influence has grown despite its failures, of which 40-year-high inflation is the most recent but by no means the worst.

Constitutionally, the Fed answers to Congress. It’s time for legislators to take back the reins. Three bills recently filed by congressional Republicans – the Gold Reserve Transparency Act of 2021, the Price Stability Act of 2022 and a yet-to-be titled act, H.R. 9157, linking the dollar to gold – can bring the Fed to heel. All Republicans and moderate Democrats should consider them carefully.

We can’t afford an out-of-control Fed much longer. America’s central bank has blurred the line between fiscal and monetary policy beyond recognition. Washington ran $6 trillion in deficits during the COVID-19 years; the Fed added $3.3 trillion to its balance sheets over the same period. That’s more than 50 percent indirect debt accommodation by monetary policymakers.

Our de facto experiment with Modern Monetary Theory has subjected millions of Americans to crippling price hikes. While inflation appears to be cooling down, prices are still rising more than three times as fast as the Fed’s official goal. In fact, Fed officials don’t expect prices to return to normal until 2025. So much for aggressive tightening.

What are our options for reform?

All three bills mentioned above subject the Fed to the discipline of rules. Congress gave the Fed its famous “dual mandate” of full employment and stable prices in 1977, but those goals are hopelessly vague. They give the Fed an excuse for its mistakes. For example, the Fed failed to curb inflation partly because it was committed to easy money, which it thought would keep labor markets tight. The problem is the Fed decides for itself how to interpret its mandate. Congressional Republicans are rightly trying to return this authority to the people’s representatives.

Rep. French Hill’s (R-Ark.) Price Stability Act is a simple reform with far-reaching implications. As the bill’s title suggests, it would strike the “full employment” plank from the Fed’s mandate. The central bank would aim for price stability alone. This is a welcome improvement, since the dollar’s purchasing power is one of the few things the Fed controls. The only way the Fed can help labor markets is through ordinary monetary policy. If we achieve stable prices, we get full employment as a bonus, as even many Keynesian economists acknowledge.

The other two bills, sponsored by Rep. Alexander Mooney (R-W.V.), would bind the Fed’s hands even tighter. Instead of tweaking our fiat money system, why not go for gold? Commodity money is history’s most successful example of rule-bound monetary policy. Rep. Mooney’s first bill would ascertain just how much gold the federal government, including the Fed, owns. The bill calls for the Government Accountability Office to report on U.S. gold holdings every five years. 

Regular gold audits are an important stepping-stone to the second bill’s goal: redefining the dollar in terms of gold. The text of the bill rightly asserts that the American money supply should be “controlled by the market not the government.”

By reintroducing a gold-backed dollar, we can get the Fed out of the business of managing the money supply. This will raise red flags for many economists. It shouldn’t. Contrary to the triumphant narrative among monetary technocrats, the Fed did not obviously improve U.S. economic performance, even if you give it a pass on the tumultuous years between the Great Depression and World War II.

Read full article here: 

https://thehill.com/opinion/finance/3741714-congress-can-restore-the-integrity-of-the-dollar/

News, Rumors and Opinions Saturday AM 11-19-2022

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 19 Nov. 2022

Compiled Sat. 19 Nov. 2022 12:01 am EST by Judy Byington

Global Currency Reset:

Fri. 18 Nov. MarkZ: “I have a contact at a Redemption Center who was planning on going in on Sun. 20 Nov. in preparation for Monday 21 Nov. There is a whole lot of chatter right now for Iraq and this weekend AND for Monday for us to start exchanges.”

Thurs. 17 Nov. Bruce: “We are hearing from two or three different sources that the weekend should be good for us – in terms of notifications on Saturday and Sunday, 19, 20 Nov, which makes Monday /Tuesday 21, 22 Nov. looking good for exchanges. Redemption Center Staff were on call as of Fri. noon and through the weekend to start appointments on Mon-Tues. 21, 22. Last Tues. 15 Nov. they began redemption of boxes of Zim Sheet Bonds in Zurich and Miami.”

A Private Banker said that his US Treasury Contact informed Bank of America that Gold and Gold-backed assets opening day was on Fri. 11 Nov. German and Yellow Dragon Bond liquidity would soon follow, with the redemption process beginning in Miami, Zurich and the Philippines this last week.

US Consumers Are Doing Exactly What They Did Just Prior To The Crash Of 2008: https://www.zerohedge.com/personal-finance/us-consumers-are-doing-exactly-what-they-did-just-prior-crash-2008

Read full post here:  https://dinarchronicles.com/2022/11/19/restored-republic-via-a-gcr-update-as-of-november-19-2022/

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TNT:

CandyKisses:  A "shocking step" .. Al-Sudani writes off 20 Iraqi embassies and cancels the privileges of the three presidencies

The Saudi newspaper "Al-Sharq Al-Awsat" reported, on Saturday, that the Iraqi Prime Minister, Muhammad Shia'a Al-Sudani, issued a number of orders, including the cancellation of his office allocations, and the withdrawal of presidential protection for former presidents (republic, ministers, and parliament), in a step that seemed shocking, especially for senior officials. Iraqi officials.

Yesterday, Friday, a military commander told Shafaq News Agency, "The force assigned to protect Mustafa Al-Kadhimi, the former prime minister, had received orders to withdraw and leave its position near the house he lives in in the Green Zone," adding that "the strength of the force is about one hundred members, most of whom have not yet implemented the sudden orders." By leaving Al-Kazemi’s house, which was issued on Thursday morning.”

In its issue issued today, Al-Sharq Al-Awsat newspaper quoted an official source as saying that all former presidents and ministers after 2003 were included in the decision, from Iyad Allawi, the first prime minister after 2003, to Mustafa Al-Kazemi, the last prime minister.

The newspaper says, quoting political observers, that it is the first decision that may have negative repercussions on the pattern of the Sudanese relationship with senior Iraqi leaders and leaders.

Among those covered by the decisions to withdraw protections, according to the newspaper, are the former presidents of the republic, Fuad Masum and Barham Salih, and also include the protections of former prime ministers Ibrahim al-Jaafari, Nuri al-Maliki, Haider al-Abadi and Adel Abdul-Mahdi, as well as al-Kazemi.

Al-Sudani's decisions also include, according to the newspaper, the cancellation of the allocations for the three presidencies, both for President Abdel Latif Rashid and Parliament Speaker Muhammad al-Halbousi, in addition to his office. 

Among the decisions taken by Al-Sudani, according to the source, was cutting two and a half million dinars from the salaries of members of his government. The decisions also included canceling allocations for hospitality, treatment, and renting private planes for the three presidencies, including his office.

The newspaper believes, according to its source, that Al-Sudani aims, through these decisions, to reduce exaggerated government spending. As it is forbidden to grant members of parliament new cars, and this applies to those with special ranks, including heads of agencies, undersecretaries of ministries, and ambassadors.

As is the norm in post-2003 Iraq, former senior officials usually maintain several government protection regiments, even years after leaving office.

In a context related to the restructuring of state institutions and pressure on government spending, Al-Sudani decided to cancel 20 Iraqi embassies abroad due to the lack of Iraqi expatriates in those countries, according to the political source, in addition to the huge funds allocated from the annual budget of those embassies and their diplomatic staff.

The move comes days after the Iraqi prime minister's decision to withdraw the list of ambassadors prepared for a vote in Parliament.

The phenomenon of increasing diplomatic representation and opening embassies abroad is considered one of the aspects of financial and administrative corruption, since the vast majority of ambassadors and those who come after them of special degrees in Iraqi embassies abroad are often sons, brothers, or in-laws of senior officials in the state.

The decisions repeat what was previously taken by former Prime Minister Haider al-Abadi, which provoked senior officials at the time.

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Courtesy of Dinar Guru

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:  There's been less and less from the Framework.  We really don't see the negativity like we used to before.  FRANK:  That alone is encouraging ...the pendulum is swinging...the Iraqi citizens and the whole world are realizing what Sudani the new Prime Minister and Mustafa Ghaleb the CBI governor are doing and saying.   Oh, dear me it's impressive.

Bruce  [via WiserNow]   ...Iraq, is looking to bring out their new in country...dinar rate - meaning in...Iraq...it is way higher than it is. We would be thrilled to get this rate here in the US at our redemption centers, but the rate that we're gonna get is higher yet than what we're talking about for Iraq. They're supposed to bring their new rate out either Saturday or Sunday... I'm not at liberty to tell you what it will be - but it will be very strong, especially for an in  country rate for Iraq.

Michael Burry Is Now Predicting Another Huge Crash!! (Here’s Why)

George Garman: The Rebal Capatalist:  11-19-2022

https://www.youtube.com/watch?v=5cqc5dQaiGg

CRUSHING THE US! Japan's Saudi Arabia leads global dump of 213 billion U.S. bonds!

Deepin Moments:  11-19-2022

On November 17, the US. Treasury Department released its September 2022 International Capital Flows (TIC) report. The report shows that the total size of global investors holding US.

Treasury bonds fell from $ 7.509 trillion in August to $ 7.296 trillion in September, the lowest level since May 2021, a single-month sell-off of $ 213 billion, this data is undoubtedly a shock to the world!

Currently, the situation in Europe is not optimistic. First of all, inflation "fever", November 17, Eurostat released data showing that the final value of CPI in the eurozone in October year-on-year was 10.6%, a new record high;

Secondly, the risk of recession climbed sharply, the European Central Bank warned in its latest report, in the energy crisis, inflation "The European Central Bank warned in its latest report that, under the "triple whammy" of the energy crisis, inflation and monetary tightening, the future of the European economy is worse than expected.

https://www.youtube.com/watch?v=l6s50f4OHLY

More News, Rumors and Opinions Friday Afternoon 11-18-2022

TNT:

Tishwash:  The United States advises its citizens not to travel to Iraq and Syria

The US State Department advised its citizens not to travel to northern Syria and Iraq due to a possible military action by Turkey in these areas, which may take place in the coming days.

The ministry said in a statement that the US Consulate General in Erbil is monitoring reliable and open-source reports on possible Turkish military action in northern Syria and northern Iraq in the coming days.

It reported that the US government continues to advise its citizens to avoid these areas  link

KTFA:

Clare:  Parliamentary Finance expects the date of the 2023 budget to arrive in Parliament and confirms: the 2022 budget is a creature that was not born

11/18/2022

 The Parliamentary Finance Committee expected the date of the 2023 budget to reach Parliament, while noting that the 2022 budget is "a creature that was not born."

Committee member Jamal Cougar told {Euphrates News} agency: "We expect that the general budget law for the year 2023 will reach the House of Representatives either at the end of this month or early next month."

He added, "There is no budget for the year 2022, and talking about it is like talking about a creature that was not born," pointing out that "the implementation of the Financial Management Law 1/12 does not represent the budget law, and that any talk about a budget means its approval, and the year 2022 did not witness the approval of a budget."  LINK

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Samson:  Ali Ghulam was arrested at Baghdad International Airport

18th November, 2022

Today, Friday, a security source said, the businessman accused of "corruption," Ali Ghulam, was arrested at Baghdad International Airport.

A security source told Alsumaria News, "The Baghdad International Airport police managed today to arrest the businessman accused of corruption, Ali Ghulam."

And the Central Bank of Iraq had decided, on November 7, to stop dealing in the US dollar currency with 4 banks affiliated with "Ali Ghulam."

It is noteworthy that Ali Ghulam is the owner of the "Ishtar Gate" company, which was known as a "major scandal" with the Rafidain Bank, regarding the issue of electronic payment.  LINK

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Samson:  The Ministry of Interior: The director of the Middle East Bank {Ali Ghulam} was arrested while he was coming to Baghdad airport

11/18/2022 16:55:51

 The Ministry of Interior announced that the passport department at Baghdad International Airport arrested the wanted {Ali Muhammad Ghulam} today, Friday.

A statement of the Ministry of Interior, which {Al Furat News} received a copy of, stated that "the passport department detachments at Baghdad International Airport arrested the accused director of the Middle East Bank [Ali Muhammad Ghulam] while he was coming to Baghdad airport, who is wanted according to the provisions of Article 456 of the Iraqi Penal Code." He added, "The necessary legal measures have been taken against the accused."

It is noteworthy that Article 456 of the Iraqi Penal Code stipulates: “Anyone who succeeds in receiving or transferring possession of movable property owned by others to himself or to another person shall be punished by imprisonment.”   LINK

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Courtesy of Dinar Guru

Mnt Goat   Article:  "THE HOUSE OF REPRESENTATIVES REVEALS URGENT MEASURES TO REDUCE THE EXCHANGE RATE OF THE DOLLAR"   Quote:  "...new measures will be taken soon to reduce the exchange rate of the dollar."  I have to tell you the pressure to “reinstate” the dinar to FOREX is building...

Frank26   [Iraq boots-on-the-ground report] FIREFLY: Bank friend said if the budget gets to parliament by the 9th that by the end of December it will be voted on and passed to the president to sign.  This appears to put us in January, anywhere from the 1st on through the 1st quarter.  FRANK:  If they can get to parliament by the 9th and if they can review it up until the 30th of December then we've got a good chance for the 1st.

EXPECT THE GLOBAL MONEY SUPPLY TO DOUBLE! AND THE WORLD ECONOMY TO COLLAPSE FASTER.

Greg Mannarino :  11-18-2022

https://www.youtube.com/watch?v=L09OvCiq_qY

Rafi Farber: SBF Was Only the Tip of the Dollar Pyramid

Arcadia Economics:  11-18-2022

The tide is going out and the the first skinny dippers are being revealed. Not only is Sam Bankman-Fried a guy with a hyphenated name, but his name is actually BANKman.

As egregious as he was, all BANKS operate in the same way, so expect what happened to SBF to happen to the dollar itself and all its derivatives.

When that day comes, and may it come speedily, the only thing left standing will be money itself. And that, of course, is silver. And gold.

Meanwhile, Europe is tightening its embargo on Russian energy specifically during the coldest month of the year, February. That should work out just swell. And cold.

https://www.youtube.com/watch?v=1KnBk59ai3g

How Saudi Arabia, EU and China BRICS Plan to Crush the US Economy

How Saudi Arabia EU & China BRICS Plan To Crush The US Economy? | No Petrodollar? De-dollarization!

Investing Futures:  11-17-2022

Since Russia invaded Ukraine, Saudi Arabia has made clear that it is not going to change its oil policy. The Saudi leadership has repeatedly rebuffed requests from President Biden and leaders of oil-importing countries to accelerate production increases—a key factor behind the release of strategic oil stockpiles by the US and its allies in the IEA.

Recent monthly meetings of the OPEC+ group have taken less than 15 minutes to agree on a continuation of the plan put in place last year. A large diversion of Russian oil to India—and a corresponding reduction in Indian purchases of Saudi oil—hasn’t elicited a public comment from Saudi oil officials even though Aramco tends to guard jealously its market share among large Asian growth markets.

Saudi relations with the US are at a low point, and the OPEC+ partnership with Russia has paid big dividends for the Kingdom.

With higher oil prices, Saudi GDP grew by an annualized rate of 9.6% in the first quarter—the fastest pace in over a decade. The Kingdom and its regional allies have abstained—or voted against—US and European initiatives at the UN aimed at isolating Russia.

So, oil consumers under duress need to look elsewhere for relief. The BRICS members have collectively attempted to disrupt the US dollar’s dominant position in the current global reserve currency structure through promoting the reform of the IMF’s SDR and supporting the renminbi’s inclusion into the SDR basket.

These initiatives are part of the BRICS’ broader efforts to reform the existing multilateral international financial institutions.

 Chinese officials had expressed China’s interest in restructuring the global reserves currency structure and advocated for giving the SDR a greater role several months before the first BRIC summit.

In March 2009, the PBoC Governor, Zhou Xiaochuan, called for making the SDR into a “super-sovereign reserve currency”.

Later, the United Nations (UN) echoed Zhou’s idea and proposed establishing a new Global Reserve System based on the IMF’s SDR. The UN proposal stated: EU Opposes US Dollar. French officials have for a long time advocated for strategic independence, the idea that the EU needs to be more independent from the US, for instance, by supporting its own industry.

Last month, French President Emmanuel Macron suggested that the EU should also look at a “Buy European Act” to protect European carmakers. “We need a Buy European Act like the Americans, we need to reserve [our subsidies] for our European manufacturers,” Macron said in an interview with broadcaster France 2.

The US dollar’s supremacy and US global leadership have been increasingly questioned since the 2008 global financial crisis, The fact that this crisis originated in the United States raised concerns about the reliability of US leadership and the rationality of preserving the dollar’s hegemonic position in the global financial system.

Despite the breadth of the BRICS countries’ financial cooperation and their growing interconnectedness, BRICS’ activities in the monetary realm have been understudied. A "strong BRICS" is poised to destroy the Petrodollar's hegemony; Brazil, Russia, India, China, and South Africa are the five main emerging economies that make up the influential group known as BRICS;

The group accounts for roughly 16% of global trade, 24% of the global GDP, and 41% of the world's population; Since the organization's founding in 2009, all of the member nations have held yearly meetings; The 14th BRICS annual summit was largely held in China this year;

https://www.youtube.com/watch?v=ETfI6zsLfEs

News, Rumors and Opinions Friday AM 11-18-2022

RV Excerpts from the RV Restored Republic via a GCR: Update as of Fri. 18 Nov. 2022

Compiled Fri. 18 Nov. 2022 12:01 am EST by Judy Byington

Judy Note: “Some encouragement for those out there who are frustrated (aren’t we all). It has been decades in the making – The Plan to Save Mankind.”

Global Currency Reset:

Bruce: Last Tues. 15 Nov. they began redemption of boxes of Zim Sheet Bonds in Zurich and Miami. Tier 4B (us, the Internet Group) appointment setting was changed to Sat.-Sun. 19, 20 Nov. Redemption Center Staff were on call as of Fri. noon and through the weekend to start appointments on Mon-Tues. 21,22. Last Tues. 15 Nov. they began redemption of boxes of Zim Sheet Bonds in Zurich and Miami.

A Private Banker said his US Treasury Contact informed Bank of America that Gold and Gold-backed assets opening day was on Fri. 11 Nov. German and Yellow Dragon Bond liquidity would soon follow, with the redemption process beginning in Miami, Zurich and the Philippines this week.

~~~~~~~~~~

Thurs. 17 Nov. 2022 The Big Call, Bruce: Thebigcall.net 667-770-1866 pin123456#

Redemption Center Staff were on call as of Fri. noon and through the weekend to start appointments on Mon-Tues. 21, 22 Nov.

Iraq to bring out their in-country Dinar Rate either Sat. or Sun. 19, 20 Nov.

Last Tues. 15 Nov. they began redemption of boxes of Zim Sheet Bonds in Zurich and Miami.

This weekend Tier 4B (us, the Internet Group) should receive notification to set appointments.

Read full post here: https://dinarchronicles.com/2022/11/18/restored-republic-via-a-gcr-update-as-of-november-18-2022/

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Courtesy of Dinar Guru

Frank26   Question:   "Iraq goes along with other countries for reinstatement?"  This is reinstatement of their own [currency].  I know there are other monetary reforms occurring right now with other countries but no where at the pace at the level the CBI is at right now.  If I knew of such a thing I would have invested in their currency too.  

Pimpy This government is just now getting formed.  It's now starting to rock-and-roll.  We're going to see the budget here shortly.  We're going to find out what the truth is as far as the exchange rate is concerned....we will find out soon.

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NO DOUBT ABOUT IT! MASSIVE INSIDER TRADING GOING ON AT THE FED. Very Important Updates.

Greg:  Mannarino: 11-17-2022

https://www.youtube.com/watch?v=HqTyHdAw73I

Global Treasury Dump Is Getting Worse - China’s Selling Big!

Sean Foo:  11-18-2022

The US treasury dump is accelerating as countries are furiously exiting US bonds during this currency crisis. Not only is China selling off their bonds, but US allies including Japan are also exiting the treasury market as rate hikes continue to get worse.

 And there's a good chance the money is moving in other assets like gold. If this bond crisis gets worse, it could guarantee a recession and even trigger a potential bond market collapse. Here's what you must know!

https://www.youtube.com/watch?v=6MNB6mnsWgE

Egon Von Greyerz: Dark Times Ahead As Dow Plunges To 3,500 - Gold Explodes $35,000

As Good as Gold Australia:  11-18-2022

n this latest interview, Darryl and Brian Panes from As Good As Gold Australia, interview the legendary Egon von Greyerz, Founder and Managing Director of Matterhorn Asset Management and Gold Switzerland.

The world is in the midst of a massive economic disaster with all markets in disarray, but what has led us to this. Governments will blame pandemics and wars as they always have instead of acknowledging that the real cause is and always has been their absolute mismanagement of the economy and their constant overprinting and devaluation of fiat currency.

Egon is the master of this subject and explains in finite detail the process that will lead to an absolute collapse of the Dow, down 90% from its current position, and Gold escalating to set new highs at $35,000 USD or more.

Egon confirms that wars historically have been blamed and used as an excuse for major economic downturns, taking the emphasis off the underlying poorly executed monetary decisions that led to the financial crisis in the first place.

As debt implodes, so will all the assets that the debt supports. Debt has pushed property and stock prices to major highs, and digital currencies can't hide the existing debt - it won't go away and it will implode, as will the accompanying assets.

We then start all over again. Now more than ever before, one needs to own gold (real money) to protect and retain their wealth. How much do you need? Egon's response - whatever you can't afford to lose!

https://www.youtube.com/watch?v=84toOT7boEI

Treasury To Collapse Economy and Markets

Treasury To Collapse Economy & Markets

Lynette Zang:  11-17-2022

What if you woke up tomorrow? The stock market's crashing, interest rates spiking, and your credit and debit cards were frozen. Nothing was working.

Would you panic because you're not prepared and out of choices? Or would you thank your lucky stars that you were properly positioned in advance? Your critical breakdown was in the foundation of our financial system, that indicates that we are very close to a collapse.

U.S. Treasury Market is the foundation of the entire global economy and is in deep trouble. Liquidity is now at a critical level, which is the ability to buy and sell without huge price swings. That's evaporated like the foundation of a house during an earthquake. This foundation is so fragile that the Treasuries openly discussed programs identical to what Third World countries have done in the past.

Jerome Powell has told us they will also bring some pain to households and businesses, and you should believe them because of the Treasury market freezes. Everyone's standard of living will be impacted.

Do you think this can't happen here? It's already happening in the U.K., So let's see what the data says coming up.

Chapters:

0:00 US Treasury in Trouble

1:21 Liquidity & Forced Selling

4:25 Foreign Holdings at Federal Reserve

6:14 US Losing World Reserve Currency Status

9:47 Markets Having Trouble Trading

15:02 10-Year Treasury Price Volatility

16:56 Drawdown = Selling

21:00 True Value of Gold

23:54 Set Up Your Strategy

https://www.youtube.com/watch?v=OAQnevAu7DY

More News, Rumors and Opinions Thursday PM 11-17-2022

KTFA:

Samson:  Iraq increases its holdings of US bonds by more than one billion and 250 million dollars in a month

17th November, 2022

The US Treasury announced, on Thursday, that Iraq increased its holdings of US bonds to more than one billion and 250 million dollars during the month of September.

The treasury stated in its latest schedule, seen by Shafaq News agency, that "Iraq's possession of US Treasury bonds for the month of September of 2022 increased by 1.275 billion dollars, to reach 36.905 billion, after it was 35.630 billion dollars in the month of August," indicating that "this Bonds increased by 51.35% over the same month last year 2021, when Iraq's possession of bonds amounted to $18 billion.

And she added, "Iraqi bonds, including long-term guarantees of $25.346 billion and short-term guarantees of $11.559 billion," noting that "these bonds represent 0.49% of the world's bonds."

In the Arab world, Saudi Arabia comes at the forefront of the countries with the most possession, amounting to 120.997 billion dollars, Kuwait comes second with 49.923 billion dollars, the UAE comes third with 48.259 billion dollars, then Iraq fourth, and Oman fifth with 7.044 billion dollars, then Morocco with 3.739 billion dollars. 

She pointed out that "the most holders of US bonds are Japan with 1.120.184 trillion dollars, followed by China with 933.579 billion dollars, followed by the United Kingdom with 663.287 billion dollars, and then comes Belgium with 325.085 billion dollars."  LINK

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Samson:  Iraq is pursuing a senior official in the intelligence apparatus and seeking the help of Interpol

17th November, 2022

On Thursday, the Federal Integrity Commission initiated procedures to recover a general director in the intelligence service, and to issue an arrest warrant against the accused who fled to the International Police (Interpol) at the level of Arab countries, under the follow-up and supervision of Prime Minister Muhammad Shia'a Al-Sudani.

According to a statement received by Shafaq News agency, the recovery department of the authority clarified the procedures for pursuing the fugitive suspect (Dia Abdel Aziz Saad Al-Musawi), in preparation for the issuance of the International Red Notice of the International Criminal Police Organization (Interpol).

The department stated, "The procedures for recovering the accused, who holds the position of Director General in the Intelligence Service, have actually begun, and a recovery file has been organized against him in preparation for the issuance of the red notice."

She added that she had completed "the procedures required to issue an arrest warrant at the level of Arab countries through the security and legal agencies concerned with law enforcement," noting that "this was done under the direct follow-up and supervision of the Prime Minister (Muhammad Shiaa Al-Sudani)."

A judicial arrest warrant was previously issued against the accused as a result of charges attributed to him related to corruption crimes represented in oil smuggling and exploitation of his job position.LINK

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Courtesy of Dinar Guru

Guru Frank26   [Iraq boots-on-the-ground report]  FIREFLY:   They're saying the budget should be in parliament by the 9th of December.  FRANK:  The 9th is crucial.  We need to see this government seated, parliament seated, the Cabinet announced, everything by the 9th...From the 9th to the 31th of December they're going to review the budget...then on the 1st IMO they can launch it and make it official.  They can release all the information that's in it.

Pimpy  There has been a lot of talk about the Iraqi dinar exchange rate change and what we can expect and what is going on...there's been a lot of talk about this up and coming budget...I'm shocked at how fast they're putting this thing together, usually takes forever...I'm hearing from all kinds of people saying don't trust the news, they're lying, the rate change is going to be in there.  It goes back and forth...nobody knows...It's all speculation...

Allies No Longer Need the US, European Leaders Refuse to Waste Time on Biden at G20 Summit.

Deepin Moments:  11-17-2022

With the G20 meeting held in victory! Western leaders, represented by Germany and France, have recently lined up for high-level meetings with China, and after the talks, briefings from all sides have released a very rich message.

Political news sites have written articles specifically comparing the US with Germany, claiming that the recent high-level meetings between Biden and Scholz with China highlight the difference between the two countries' attitudes toward China.

And this difference is likely to evolve into a political disagreement between the U.S. and Germany.

https://www.youtube.com/watch?v=4sypuqybnzQ

These Nations STOCKPILING GOLD; Here's Why | Andy Schectman

Liberty and Finance:  11-16-2022

More than a dozen countries could soon be joining the BRICS nations. Andy Schectman, CEO & president of Miles Franklin, has been tracking the evidence that the BRICS nations are preparing a new reserve currency, possibly gold-backed, that could threaten U.S. Dollar's #1 global reserve status.

Many of the countries looking to join have been stockpiling gold. "You must have gold to be part of this new game," he says.

0:00 Intro

4:00 Avoid gold scams

14:51 Nations buying gold

https://www.youtube.com/watch?v=U4ynGzbfgoY

China's Masterplan to End the US Dollar Dominance Will Change The World Forever

China's Insane MASTERPLAN To End The US Dollar Dominance Will Change The Entire World Forever

Tech Futures:  11-17-2022

The BRICS countries are five of the fastest-growing economies in the world. And the BRICS economic structure, which includes Brazil, Russia, India, China, and South Africa, is also expanding.

The combined 3.23 billion residents of the BRICS countries account for 41% of the global populace. In addition, they take credit for 24% of the world's GDP. And together, these groups control 16 percent of the total value of international commerce.

Now, with that much power, the US and the dollar are in serious danger. Most recently, China and other members have attracted new countries to join the organization.

Now, in October, the Chinese Ministry of Foreign Affairs expressed support for BRICS membership expansion. And speculation had arisen that Saudi Arabia intended to join the bloc.

According to reports from South African media, Saudi Arabia's Crown Prince Mohammed bin Salman recently stated his country's interest in joining BRICS. Moreover, they said Saudi Arabia is not the only country interested in joining the organization.

As this year's BRICS chair, China is committed to seeing the organization through its current membership expansion process and into further "BRICS Plus" collaboration. And since its inception in 2017, the "BRICS Plus" collaboration has extended an invitation to heads of state from other developing nations. And they want them to participate in the ongoing conversation.

China made the point during the 14th BRICS Summit in June that the group is not an exclusive club. Rather it functions as a large family where members look out for one another. It's also a partnership in which everyone benefits from working together.

Now, it has been suggested that the BRICS countries create their own reserve currency to better advance their collective economic goals. It will be tied to a basket of currencies from the five member states.

The current system of using the dollar as the de facto standard for oil trading and pricing dates back to 1974. It was the chaotic period after the Arab Oil Embargo, the 1973 oil crisis, and the removal of the dollar's tie to gold in 1971.

Saudi Arabia agreed to price oil in US dollars and retain reserves partially in US Treasury bonds in exchange for US military and political support and purchases of its oil. Other oil-exporting countries soon followed suit. And the Saudis likewise maintained a tie to the dollar as their currency. The oil-producing states in the Persian Gulf grew wealthy as a result of these "petrodollar" agreements. And the United States was also able to readily fund its large trade deficits.

Now, this resulted in a strong currency, which made US goods comparatively costly and contributed to the outsourcing of manufacturing to China. Over the years, the oil industry has developed intricate systems for discovering prices and mitigating financial and physical risks. And this was done along the supply chains that bring crude oil from the ground up to consumers' homes.

Additionally, because of this market, many people believed the US dollar would continue to be the de facto global oil reserve currency for the foreseeable future. The markets were both "deep" and "liquid," with a wide variety of services that were difficult, if not impossible, to replicate.

However, tension and worry have steadily increased over time. It's due to the United States' growing dominance in the dollar's trade system. Now, some nations and economies have accused the United States of acting unilaterally to halt oil exports from countries whose policies Washington opposes. Just consider the countries of Iran and Venezuela.

It has been decided to find an alternative to SWIFT. And this includes establishing a system for international bank transfers in China. However, these measures are still in their infancy.

There was also a collaboration between Russia, China, and others to find alternatives to the US currency. And they attempted to aid Iran in circumventing US sanctions by developing a cumbersome SWIFT substitute of their own.

After then, an invasion of Ukraine ensued. Now, further restrictions were placed on Russian commerce due to punitive sanctions imposed by the United States and the European Union. They also put Russia's $300 billion in reserves on ice.

Moscow protested this as "stealing." Now, some Western critics expressed concern that a failure to safeguard foreign reserves may damage the dollar's standing as a reserve currency.

https://www.youtube.com/watch?v=nqSVy_3u6QA

The Fed Just Launched The Digital Dollar

The Fed Just Launched the Digital Dollar

Heresy Financial 11-17-2022

The Federal Reserve is launching a pilot program of the brand new central bank digital currency in conjunction with 12 major banks!

Banks like BNY Mellon, Citi, U.S. Bank, Wells Fargo, and a few others. They are all working together on a 12-week pilot program for the new digital dollar.

This program is spearheaded by the New York Fed's Innovation Center here, and the New York Fed's Innovation Center is the one that has been researching central bank digital currencies for a while now and periodically makes speeches about what they found and what they're looking at, saying "Hey, we need Congress to do stuff about this.

"We want Congress to legislate it, but it looks like they are taking a giant step forward. And it is no coincidence that this is happening right in the midst of the most epic Ponzi scheme collapse in cryptocurrency failure probably in history up to this point and probably in the future as well, with FTX collapsing right now.

Timecodes

0:00 Federal Reserve Releasing a CBDC 12 Week Program

2:48 Exploring Interoperable Networks on Distributed Ledgers

4:55 Testing Distributed Ledger Technology

8:47 How Dangerous This New CBDC Is

https://www.youtube.com/watch?v=l8HGRvkc0pA

When And How The Breakthrough Will Come

When And How The Breakthrough Will Come

The Final Wake Up Call By Peter B Meyer

Global Economy Is Bankrupt

People are impatient and their memory is pitifully short. Very few are able to take a long-term view of what is going on because everyone has become accustomed to “living in the now” and not focusing on what is to come.

The news channels are not screaming about a “stock market crash” or an “economic depression”, last October would have been the month that everything was going to happen. But that does not mean the economy is on the mend by any stretch of imagination.

HSBC bank owned by the Cabal; the largest in the western world, says a global recession has begun, and the pain we have experienced so far is just the tip of the iceberg. So don’t think it’s time to relax, just get on with preparations.

The global economy is bankrupt in every aspect and region. Most of the nations are under pressure, while Portugal has recently become the most acute country.

The Portuguese Socialist Party, together with the communists, has formed a left-wing bloc and thus has the absolute majority in the country, which is not accepted by puppet president Aníbal Cacavo da Silva, who does not invite them to form a new government because they are against austerity, and the proposed wage moderation.

The Socialists also want Portugal’s debt to be written off by 50 per cent, and to leave the Euro currency union. The euro has already destroyed enough European countries by now.

Banks are in desolate status

Banks are in a desolate condition because interest rates had to remain zero per cent, otherwise every institution that holds derivatives is bankrupt, like Deutsche Bank for instance, which has around $100 trillion in derivatives that are on the verge of collapse, and they are not the only bank with such massive exposure.

Also JP Morgan, effectively all US TBTF banks collectively have as much as over $250 trillion in derivatives exposure. The actual exposure value for these banks is estimated to be around $500 trillion. If any of the counterparties go under, the bank total of $500 trillion, and the global total derivatives exposure of $1.500 trillion will cause unimaginable damage.

Today’s economy faces the deadly convergence of three critical factors as fallout from the largest debt bubble in history.

Caused by:

Disastrous experiment in globalisation

Massaging of statistical figures to the point where economic trends are completely obscured

Most important of all; the approach of overburdened by debt without any return in energy, other sectors, and derivatives, while Government Bonds are dumped by China, Russia, and numerous other countries.

Central Banking is a Scam

Austrian School economist Ludwig von Mises described what is happening now as a “crack-up boom”.

Be aware that Austrian School of economics probably provides the best theory on how the world works. They, too, have reservations about manipulations to bring the natural workings of the economy back under “control” – in particular, they have reservations about central banks.

The fact that a one-time “Austrian” Alan Greenspan, who became the most celebrated central banker in history, only increases suspicions that he is believed to be the one who perfected central banking, because he understood what it actually is; namely, a scam.

The ‘crack-up’ phase

Von Mises explains that a “crack-up boom”; “is the first phase of the inflationary process, which can last for many years. While it lasts, the prices of many goods and services have not yet adjusted to the changed money quality ratio. There are many people in the country who are not yet aware of the fact that they are facing a price revolution that eventually results in the significant increase in prices, although the magnitude of this increase in different goods and services is not the same everywhere and alays.

People still believe that prices will fall one day. They wait for that day, limiting their purchases and increasing their investments and cash holdings. As long as such ideas are widespread within public opinion, it is not too late for the government to abandon its inflationary policies.

“But eventually when the masses wake up. Do they suddenly become aware of the fact that inflation is a deliberate theft policy, and continues endlessly. When the total collapse begins. Is that the crack-up boom”.

Everyone is concerned about the value of their money and wants to exchange it for ‘real’ goods, regardless whether they need them or not, regardless of how much money they have to pay for them. Within a very short time, a few weeks or even days, the means used as money will no longer be accepted as a medium of exchange. It becomes Toilet. paper. Nobody wants to get rid of anything for that anymore.

“A ‘crack-up boom’ is essentially a financial boom in reverse, lots of money coming accelerated into the system at once. People do not yet realise it is fake money, they cannot tell the difference. This money is hanging around in the financial sector and everyone in it is having a grandiose time.”

Then the economy is in the ‘crack-up’ phase. In which four things determine the way and manner in which the economy and markets will unfold.

First, it is observable that increasing desperation and extreme financial repression among central banks, which have cornered themselves with no way out making them lost and desperate.

Mises described the irrational phases of a classic inflationary cycle as follows:

In the begin, no one can tell the difference between a real dollar – one that was earned, saved, or invested, and then spent – and one that just came off the printing press. They think the new dollar is just as good as the old one. And then, prices go up – people don’t know why. Only later, they start realising it and hoarding – and then all hell breaks loose.

Second, increasing market disruption and volatility. During the last few months, the stock market behaved like a drunken sailor. But remember that it is just a bunch of robots and day traders mindlessly trading graphic strikers. It has nothing to do with incoming information from real-world data. One of these days, one of the central banks is going to falter. And then the market will go into a violent reset.

Third, look at the Baltic Dry index and it is clear that the economy is suffering from lagging demand for shipments and the over-fabrication of bulk carrier -capacity as a result of central bank-driven cheap money boom policies over the past 25 years. This will tear apart the financial system and the global economy in a way not seen or experienced before.

Demand lags dramatically behind ever-increasing debt. Which is the result of money printing by central banks, in unprecedented magnitude of monetary stimulus of about $60 trillion of new debt added against somewhere around $15 trillion dollars of GDP growth, or just only a quarter of this produced ‘extra’ growth. By comparison; in the 2008 crisis, total debt volume was 9 Trillion, now in 2022 it is 31 T dollars, a more than threefold increase!

Fourth, credit in the past 20 years, has increased 20 times. Nothing like this has happened before in history. The 25-year global central bank credit boom has caused massive overinvestment in oil exploration, mining, manufacturing, transportation, real estate and distribution capacity, etc., worldwide. But now that credit inflation has reached its very last limit, the ‘crack-up’ phase has arrived, the forces of global deflation will drive down the prices of goods and many consumer services.

Energy consultancy Wood Mackenzie said that an estimated $1.5 trillion of value in oil projects in North America failed to make money when oil was trading at $50 or less. Even after major cutbacks and today’s price increase, many US oil companies are struggling to pay their huge debts…

As the crisis continues, cash-money will be king. Cash will buy more everyday goods and services, and will more than dramatically price all types of financial and real estate assets.

It is difficult to predict what the consequences and cascading effects will be. But the extent of overinvestment and overcapacity in everything from shale oil exploration, to iron ore mines – dry bulk carriers – aluminium mills – steel mills – real estate projects and so on, is extremely large, something not seen before, the problems will get much worse before it gets better.

Finally, the big Ham question; When will the breakthrough start? As soon as the sleeping mob wakes up and revolts against the irreversible consequences of their poisonous injections, the deliberate theft through inflation by banks, the abuse of trust through lies and deceit by their own government, and all the other injustices that have been done.

In fact, we Lightworkers and Patriots have already won the battle against the Deep State Cabal on points. What is important; is that the entire world population stands behind this victory to prevent negative forces from coming back to planet earth sometime in the future to enslave and oppress the population again.

https://finalwakeupcall.info/en/2022/11/15/when-and-how-the-breakthrough-will-come/

More News, Rumors and Opinions Wednesday Night 11-16-2022

KTFA:

Samson:  Seventy-five years of giving 

16th November, 2022

Today marks the seventy-fifth anniversary of the founding of the Central Bank of Iraq, when the National Bank of Iraq was born on these days of 1947, to begin a triumphant march of monetary authority in our beloved country.
 
It plays roles in progress and development and is one of the engines of high-end institutional work.

We are not the only ones who are proud of the Central Bank of Iraq, but our people, our institutions, and our banking sector are proud of this sumptuous national fruit in its giving, performance, and the sustainability of its efforts.

Mustafa Ghaleb Makhaif
Governor of the Central Bank of Iraq
11/16/2022  LINK

Samson:  Iraq will participate in the Arab-Chinese summit in Saudi Arabia next month

11/16/2022 07:42:03

 Iraq announced its participation in the Arab-Chinese Summit to be held in Saudi Arabia next month, which aims to build a strategy for economic cooperation between the Arabs and China.

The official spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, said, "Minister Fuad Hussein assured the Chinese ambassador to Baghdad {Cui Wei} of Iraq's participation in this important summit," noting that "the two sides discussed full preparation for it, especially as it takes place in exceptional circumstances that the region and the world are going through."

The minister explained to the Chinese ambassador Iraq's vision of the solution mechanism, ending the crises that the region suffers from, and its position on all economic and security issues in the region and the world.

The two sides also stressed the importance of strengthening relations between Baghdad and Beijing in all fields for the benefit of the two friendly countries, according to the ministry's spokesman.

In addition, the Arab countries intensified their preparations for the Arab-Chinese summit, which will be held in Saudi Arabia, next month, and organized the agenda of the summit, which is at the forefront of the economic file and the file of enhancing opportunities for a peaceful solution in the region that is living today on the impact of the Russian-Ukrainian war that cast a shadow over the region and the world as a whole.

It is worth noting that China is the largest trading partner of the Arab countries, as the volume of trade exchange between the two countries amounted to about $330 billion, an increase of 37% in the past year, compared to the previous year.  LINK

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Courtesy of Dinar Guru

Pimpy  There has been a lot of talk about the Iraqi dinar exchange rate change and what we can expect and what is going on...there's been a lot of talk about this up and coming budget...I'm shocked at how fast they're putting this thing together, usually takes forever...I'm hearing from all kinds of people saying don't trust the news, they're lying, the rate change is going to be in there.  It goes back and forth...nobody knows...It's all speculation...

Sandy Ingram  Article:  "Iraq unveils 'strategic project' to boost oil reserves"  Iraq is literally floating on oil...Iraq is serious about offshore exploration...they know the oil is there, it's just a matter of getting access to this massive amount of oil...

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Greg Hunter's USAWatchdog.com - FTX Implosion Leads to Chaos in the Streets – Bix Weir

11-16-2022

There is much more in the 34-min interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Bix Weir of RoadtoRoota.com for 11/15/22.

https://rumble.com/v1urn8a-ftx-implosion-leads-to-chaos-in-the-streets​-bix-weir.html

Economic Collapse: Russia's Top Banks Have JUST SOLD OFF This US Asset Peter Schiff | Gold Silver

Smart Money:  11-16-2022

https://www.youtube.com/watch?v=YgiCgywx5ko

BELIEVE IT! US Dollar Collapse Will Accelerate As More People Become SLAVES To The System.

Greg Mannarino  11-16-2022

https://www.youtube.com/watch?v=A2QXlCj9F1A