News, Rumors and Opinions Thursday AM 12-15-2022

RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Thurs. 15 Dec. 2022

Compiled Thurs. 15 Dec. 2022 12:01am EST by Judy Byington

Global Currency Reset:

Judy Note: Two of my Sources have confirmed that several, but not all, Bond Holders received their funds on Tues. 13 Dec.

On Tues. 13 Dec. the Golden Dragon Bonds Trust paid out, with the monies set to be deposited in a Quantum Financial System Account. …a High Up Contact on Tues. 13 Dec.

It was unknown how long it would take for Tier4b to be notified for their exchange/ redemption appointments, though it would be reasonable to assume that it would happen soon. The important thing to realize was that the monies have been released and they can’t go backward.

Bruce on Tues. 13 Dec: Some of the Bond Holders have received their emails with access codes and now have access to their funds, while some Bond Holders have not.

On Mon. 12 Dec. the Iraqi Dinar posted a new $4.00 Rate on the Forex (on the bank back screens and trading upward). The Vietnamese Dong would be posting it’s new rate on Sat. 17 Dec. and Zimbabwe Notes would be posting their rate next week, as would the gold-backed USD likely be coming out Tues. 20 Dec. or Wed. 21 Dec. …A High Up Source

All US fiat currency has to be turned in to exchange for the new US gold-backed notes by 31 Jan. 2023. …Simon Parkes

Read full post here:  https://dinarchronicles.com/2022/12/15/restored-republic-via-a-gcr-update-as-of-december-15-2022/

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Courtesy of Dinar Guru

Walkingstick   [via Frank26]  The new ATMs have the software for the new small category notes.  I don't know if the new small category notes are in it.  But I can guarantee they do have the software for the new small category notes.  That's why they are not online as of yet.  The software for the new small category notes is already programed into these machines and is ready to go active any time.

Pimpy   Article:  "Parliamentary legal hints at an "emergency" session to approve the 2023 budget"   If this thing can somehow get approved by Al-Sadini and then the House of Representative takes a look at it and [if] everybody's pretty happy, you can see an emergency session be called in and people vote on it right away.  The sooner the better...

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KTFA:

Clare:  The Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation

December 14, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif, received today, Wednesday, a delegation from the International Finance Corporation of the World Bank, headed by the Regional Director for the Middle East, Mr. Khawaja Aftab Ahmed.

 During the meeting, aspects of bilateral cooperation were discussed and strengthened, and the completed projects between the Central Bank of Iraq and the institution were reviewed, including the project to strengthen institutional governance frameworks for the Iraqi banking sector, and the preparation of the regulatory framework for the financial leasing activity, in addition to the accession of the Central Bank of Iraq to the international sustainability network. 

They also discussed future projects that include developing the environmental and social aspects of the Iraqi banking sector, and developing the capabilities and expertise of workers in the banking sector.

Central Bank of Iraq Media Office
14 - December - 2022

https://cbi.iq/news/view/2174

MarkZ:  Bob Kudla joins me to talk about today's Fed rate announcement 12/14/2022

12-14-2022

https://www.youtube.com/watch?v=W91Kb-v0ZJA

The Next Gold Rush Will Shock The World - Bank Calls For $3,000 In 2023

Sean Foo:  12-15-2022

Gold prices are starting to rise again and we have Saxo Bank calling for a wild $3,000 gold price in 2023. While this might sound crazy, there are a lot of events lining up that might push gold to the stratosphere.

These include the Fed slowing down with their hikes, the US dollar losing relevance and the fall of bitcoin. Here's what you must know!

https://www.youtube.com/watch?v=gt4mC2QAfJA

Andy Schectman, Peter Schiff and Greg Mannarino Wednesday 12-14-2022

New Move by COMEX Commercial Banks | Andy Schectman

Liberty and Finance: 12-13-2022

Expanding on a research report by Ted Butler, Andy Schectman, CEO of Miles Franklin precious metals, reports a behavior change on the part of COMEX commercial banks, that may spell a sea change in the next silver squeeze.

Schectman also reports on the latest developments in the BRICS+ nations’ pivot away from the US dollar, and discusses the rile of the dollar in each of our preparedness plans, whether individuals or countries.

https://www.youtube.com/watch?v=UKT78zMXx_4

China Refused Exports to Collapse US Economy | Peter Schiff

Investopads:  12-14-2022

As the US was gearing up for the holiday shopping season, China announced it was temporarily suspending all exports to the US.

This move was made in order to pressure the US into agreeing to the trade ultimatum that China had sent to the US.

In this video, Peter Schiff explains why China's refusal to export to the US is a devastating blow to the American economy and why it's only a matter of time before the US economy collapses.

China's economy is much larger than the US economy, and this action shows just how assertive China is regarding trade.

Check out this video to learn more about China's Refused Exports to Collapse US Economy!

https://www.youtube.com/watch?v=_0QQgb7Olls

ITS A SET UP! CRITICAL UPDATES: Central Banks Pushing The World Into An Economic Meltdown.

Greg Mannarino:  12-14-2022

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

News, Rumors and Opinions Wednesday Morning 12-14-2022

RV Excerpts and Rumors from the Restored Republic via a GCR: Update as of Wed. 14 Dec. 2022

Compiled Wed. 14 Dec. 2022 12:01am EST by Judy Byington

Global Currency Reset:

Bruce: Some of the Bond Holders have received their emails with access codes and now have access to their funds, while some Bond Holders have not.

Judy: Today Tues. 13 Dec. the Golden Dragon Bonds Trust paid out, with the monies set to be deposited in a Quantum Financial System Account. …a High Up Contact on Tues. 13 Dec.

“Sources are saying the Event will roll out over three days with Tiers 2 & 3 on Mon. 12 Dec.; Tier 4-A on Tues. 13 Dec. and wrapping up with the launch of Tier 4B on Wed. 14 Dec.” …A Private Banker on Mon. 12 Dec.

On Mon. 12 Dec the Private Banker reported that “everything we have been waiting for was about to take place. … A bad Actor would be militarily removed, the Mainstream Media would begin reporting more and more Real News and people would be removed “from everywhere.” …Important Events would continue to be made public until the end of the month. It would be a December to Remember.”

On Mon. 12 Dec. the Iraqi Dinar posted a new $4.00 Rate on the Forex (on the bank back screens and trading upward). The Vietnamese Dong would be posting it’s new rate on Sat. 17 Dec. and Zimbabwe Notes would be posting their rate next week, as would the gold-backed USD likely be coming out Tues. 20 Dec. or Wed. 21 Dec. …A High Up Source

All US fiat currency has to be turned in to exchange for the new US gold-backed notes by 31 Jan. 2023. …Simeon Parkes

~~~~~~~~~~

Tues. 13 Dec. 2022 The Big Call, Bruce: Thebigcall.net 667-770-1866 pin123456#

Some of the Bond Holders have received their emails with access codes and now have access to their funds, while some Bond Holders have not.

Tier 4B still could be notified on Wed. 14 Dec, or soon thereafter.

The Dong rate is higher than anyone thought it would be and is still trading upward.

At least half of the governments around the world are being shook up.

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Global Economic Crisis:

Binance reportedly processed over $10 billion in illegal payments this year and a DOJ investigation is looking into top executives including CEO Changpeng Zhao. The US Department of Justice has been investigating the world’s largest cryptocurrency exchange, according to Reuters. Business Insider: https://markets.businessinsider.com/news/currencies/crypto-binance-reportedly-processed-over-10b-in-illegal-payments-2022-2022-12

Denmark’s largest Bank, Danske Bank, has pleaded guilty to defrauding US Banks and agreed to pay a $2 Billion penalty.

Read full post here:  https://dinarchronicles.com/2022/12/14/restored-republic-via-a-gcr-update-as-of-december-14-2022/

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Courtesy of Dinar Guru

Frank26   Article:  "The application of international trade exchange for the Middle East transforms Iraq into an "electronic financial exchange center"  Float here we come!  How many time have I told you Iraq will become a financial hub?  Quote:  "The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar."  I'm extremely happy...

Walkingstick   [via Frank26]   The budget is voted into law in parliament.  Then it sent to the president of the republic for his John Hancock...then ta-da it's official.  But if it's not sent to the president...then what happens?  It becomes law automatically without the signature of the president of the republic within 15 days of receipt...

Are Central Banks Setting Up the Next Crisis?

Lynette Zang:  12-13-2022

In a current BIS report, they show us the tip of the iceberg, which is all they can see on this particular foreign exchange derivative transactions.

But what they're concerned about is everything that's underneath the ice. I have to be honest with you, you need to be concerned about it too.

Warren Buffet called these weapons of mass financial destruction, coming to a theater near you

Chapters:

0:00 Weapons of Mass Financial Destruction

1:10 Derivatives Bets at All-Time High

2:27 Emerging Market Currency Trading

4:49 Foreign Exchange Swaps

 8:12 BIS Quarterly Review, December 2022

18:24 China Boosts Gold Reserves

20:20 Inverted Yield Curve

https://www.youtube.com/watch?v=Exkpq3X4SR0

A $0.25 TRILLION Monthly Deficit? What Could Possibly Go Wrong??

A $0.25 TRILLION Monthly Deficit? What Could Possibly Go Wrong??

Simon Black December 13, 2022

On the fifth of April in the year 1853, a diplomat from the United Kingdom with the most quintessentially British name — Stratford Canning — arrived by boat to Constantinople and immediately took an emergency meeting with Sultan Abdulmejid of the Ottoman Empire.

After decades of relative peace, Europe was once again on the brink of war. Russia was a rising power at the time, and, eager to flex its muscles, Russia threatened to invade the Ottoman Empire over completely ridiculous reasons.

Everyone knew that much of Europe would be drawn into a pointless conflict. And that’s why Britain, the dominant superpower at the time, sent Stratford Canning to try to prevent a war.

The British thought they were in good hands. After all, Canning had nearly five decades of experience in diplomacy. Certainly he of all people would be capable of maintaining peace.

Sadly for the British (and everyone else in Europe), Canning was a total failure. Not only did this man, with his five decades of experience, fail to prevent the war, but he actually escalated the conflict by convincing Sultan Abulmejid to reject Russia’s peace proposal.

Russia didn’t appreciate the rejection. And by the end of June, Russian troops invaded Ottoman-controlled territory.

This conflict became known as the Crimean War, and it was pretty much a disaster for almost everyone involved, including Russia… and especially the Ottoman Empire.

Russia suffered nearly half a million casualties from the war. They depleted their treasury and severely injured their economy. And most of all, Russia’s imperial army — which everyone had previously assumed to be among the best in Europe — was found to be second rate and poorly equipped.

But the Ottoman Empire fared even worse.

The empire was already in extreme decline by the mid 1800s. And about the only thing the Ottoman Empire had going for them economically was that they had ZERO foreign debt. That is, until the Crimean War.

In 1854, the Ottoman Empire took on its first foreign debt; the war was costly and they needed money. But once they started borrowing from foreigners, they never stopped. Even after Russia finally threw in the towel and the Crimean War ended in 1856, the Ottoman Empire kept borrowing.

Meanwhile the Ottoman economy continued deteriorating. The Ottoman government was full of self-righteous, entitled bureaucrats who harassed the private sector with mountains of regulations and debilitating taxes.

The Ottoman Empire also saw its share of bad luck. A number of pandemics swept the empire, including a nasty Bubonic Plague outbreak in 1876, which added to the government’s economic woes and forced them to borrow even more.

In fact, by 1876, the imperial government had borrowed so much money that debt service took up roughly HALF of their entire tax revenue.

More importantly, Ottoman borrowing costs had soared. They borrowed money at less than 5% at the beginning of the Crimean War in 1854. But by the mid 1860s, foreign lenders typically demanded 10% or more.

Needless to say the Ottoman Empire eventually defaulted on its gargantuan debt. And once they did, their foreign lenders took control of the imperial government and its finances; the Ottoman Empire effectively lost its sovereignty and became a client state of its European lenders.

History has no shortage of similar examples — once powerful and thriving empires who mismanaged their economies, took on enormous debts, and became weak through sheer financial insanity.

The US government seems to have willfully chosen to ignore these lessons time and time again.

Back in 2018, as the US national debt was closing in on $25 trillion, I pointed out that Treasury Department was projecting to increase the debt by roughly $1 trillion per year.

This was at a time when the economy was strong, tax revenues were at record levels, etc. There were no major wars, no financial crises, no major disasters.

And I wondered — if the government can rack up a trillion dollar deficit when everything was great, “what’s going to happen to the US federal deficit when there actually IS a financial crisis or major recession?”

Well, we got our answer in 2020 when COVID struck. They added $5+ trillion to the debt, practically in an instant, and acted like it was no big deal.

Yet even though the government claims the pandemic is over, today they’re STILL spending absurd quantities of money.

Yesterday the Treasury Department announced that the federal budget deficit for last month alone was a whopping $248.5 billion.

That’s a near quarter of a TRILLION dollar deficit. In a SINGLE MONTH.

This wasn’t a one-time anomaly either. The deficit over the past six months (June-Nov) totals nearly $1.3 trillion, an average monthly deficit of more than $200 billion.

All of this deficit spending adds to the national debt, which, duh, eventually needs to be repaid.

Whenever the Treasury Department borrows money to pay for these outrageous deficits, they do so by issuing bonds. And those bonds are sold to investors with terms ranging from 28 days all the way up to 30 years.

The average maturity for US government debt is about five years. This means that, every year, roughly 20% of US debt matures and needs to be repaid.

Naturally the government doesn’t have the money to repay its debts. So instead they borrow new debt to repay the old debt. It’s basically a Ponzi scheme.

To make matters worse, interest rates have been rising rapidly; last year the government borrowed money at 0.1% or less. But today they have to pay 4% or more.

That’s a huge difference.

Thanks to rising rates, the US government will spend nearly $1 trillion this fiscal year… just to pay INTEREST on its debt. And if rates keep rising (or remain this high), that figure will only grow as they continue to refinance their debts.

History shows that it’s very difficult to remain a superpower when you have to spend vast sums of money just to pay interest.

And yet the people in charge remain completely oblivious to this fact… and pretend like absolutely nothing could go wrong.

This is plenty of reason to have a Plan B...

PS: If you can see what is happening, and where this is all going, you understand why it is so important to have a Plan B. That’s why we published our 31-page, fully updated Perfect Plan B Guide, which you can download here.

To your freedom, Simon Black, Founder  Sovereign Research & Advisory

https://www.sovereignman.com/trends/a-0-25-trillion-monthly-deficit-what-could-possibly-go-wrong-144706/

"The Coming Financial Icebeerg" by AlasdairMacleod

Alasdair Macleod: The Coming Financial Iceberg

Palisades Gold Radio:  12-13-2022

Alasdair Macleod discusses the risks of being a creditor to a bank and the potential for depositor funds to be used to bail-in a bank in the event of its failure.

There is potential for a crisis of confidence as such legislation has been passed by the G20 countries and should be a concern to large depositors.

He then looks at the derivatives market, which has grown massively since the 1980s during a declining rate environment. Now we're at the point where interest rates have nowhere to go but up. This, along with off-balance sheet debt, could have a major impact on the European banking system.

He then turns his attention to China, whose economy appears to be recovering, with the government being in full control of their banking system.

China is securing resources and has long-term contracts with other countries. In contrast to the West, who have pivoted away from the Saudi's, China is accepting gold for oil with long-term contracts.

Macleod explains why gold is the only legal money in existence and why the COT Open Interest metrics suggest that the gold market is oversold.

Finally, he comments on the situation with Ukraine and Russia and the potential for global changes that could lead to the destruction of Western currencies, and the importance of people acquiring real money, such as gold, as insurance.

Talking Points From This Episode

 - Why Banks can use depositor funds to bail-in in the event of a failure.

- The risks with derivatives market have grown massively in a low interest rate environment.

 - Golds importance in being legal money and it's usefulness as insurance.

Time Stamp References:

0:00 – Introduction

 0:40 - Banking Risks & Deposits

 5:18 - Bail Ins & Bail Outs

9:33 - C.B. Balance Sheets

11:40 - Rates & Derivatives

16:55 - Pensions & REPO Markets

23:15 - Global Recession Risk

29:04 - China, Oil, & Saudis

35:06 - Bitcoin & Interest Rates

41:32 - COT Report & Open Interest

 48:20 - Ukraine & Europe

52:48 - Concluding Thoughts

https://www.youtube.com/watch?v=ID-QQ3pUXGw

More News, Rumors and Opinions Tuesday Afternoon 12-13-2022

KTFA:

Care:  Central Bank: The cash reserve has reached its highest level in the history of the Iraqi state

12-13-2022

The Central Bank of Iraq announced, today, Tuesday, that the volume of currency reserves has reached its highest levels in the history of Iraq, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.

The Central Bank's advisor, Ihsan Shamran Al-Yasiri, said in a statement followed by "Tigris", that "the central bank's reserves have reached their highest levels in the history of the Iraqi state and have exceeded 90 billion dollars," noting that "what we count on is not the central bank's reserves, but rather the performance of public finances, which She now enjoys a very sufficient abundance of money."

He added, "The central bank is the management of monetary policy and intervention to fix problems related to the exchange rate and others," noting that "the bank's reserves are still abundant and our procedures are rational."

And he stressed the need for "public finances to be disciplined and direct public spending to real priorities instead of dispersing them," pointing out that "public finances have an opportunity to compensate all those deprived during the previous years of those with fragile classes, social benefits and those with low salaries among retirees, as these classes We need aid for them."

Al-Yasiri stressed that "controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source for financing the general budget."   LINK

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Courtesy of Dinar Guru

Frank26  They [Iraq] will reinstitute their currency and then they will reinstate it.  Pretty cool...they are doing this for the world market consumers.  The World Bank and the IMF has made sure they have done this...To reinstitute the currency is what you are seeing but then it's going to float...the float increases the value of the dinar.  That's an RV...

Militia Man  Article:   "The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars"  The amount of funds being recovered to Iraq from corruption is staggering in totality. The trillions of dinars being returned will support their exchange rate internationally.

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TNT:

Tishwash:  Iran's currency is declining against the US dollar.. What is the relationship with Iraq?

Today, Tuesday, the Iranian currency recorded an unprecedented collapse against the US dollar, amid expectations that it will continue to fall in the coming days.

The Iranian banking website "Sadaqat" stated that the value of the US dollar sold amounted to 382,000 Iranian riyals, while the dollar was bought at a value of 375,000 Iranian riyals.

As predicted by the siteTrading NewsThe Iranian, that the riyal will suffer collapses in the coming days due to the central bank's inability to provide hard currencies and pump them into the local market.

The site explained in its report entitled “The Dollar Awaits a Harsh Winter,” “For nearly 20 years, Iran has been securing dollars from various markets such asHeratWestAfghanistanand a city Sulaymaniyah north Iraq But because of the sanctions, these resources have shrunk from those markets.”

He pointed out, “Because of the sanctions, the price of the dollar in Herat And the Sulaymaniyah Great influence on the price of the dollar in Iran, but now it's been a year since the dollar in the free market in Iran is no longer holding on to the dollar Herat And  the Sulaymaniyah".

After the Taliban came to power in AfghanistanIn 2021, the supply of the currency decreased fromHerat, It also caused Iran's differences and conflicts with Kurdistan Iraq In the currency drop to the Iranian market from Sulaymaniyah".

Causes of turmoil
There are many reasons for the continued growth of the dollar, and currency activists believe that only a strange and big event like the signing of the Joint Comprehensive Plan of Action (the nuclear deal) can pull the reins of the dollar.

But the JCPOA remained in the air with the hope of imposing a harsh winter on Europe. So far, the winter is hard, but not for the Europeans, but for the Iranians.

The report also considered that the second factor for the decline of the Iranian currency is cutting gas from some petrochemical plants, and said, “One of the reasons that increase the possibility of the growth of the dollar price in the coming months is the reduction of petrochemical gas, which is the most profitable industry for the currency in Iran, and about 25% of the currency is saved.” Foreign exchange through it, which is the largest currency market in Iran, and cutting off gas from this industry means a decrease in foreign exchange, and in short, an increase in prices.

He also added, "The end of the Iranian year is another factor added to the rise in the price of the dollar, as traders are forced to settle their money, and this matter increases the demand for the currency in the Iranian market."

The report also pointed out that the other factor is the "severe deficit in the government budget", as many experts believe that the sharp deficit in the government budget makes the appreciation of the currency attractive to the government because it can cover the budget deficit in the currency in which it is located.

The report pointed out that the government's import of cars from abroad doubled the demand for foreign currencies, and said, "These days, the issue of importing cars is hot, but the main question is, where does the currency used in importing cars come from?"

"These days, the government has turned to the old policy of manipulating the currency in the market to control the exchange rate, and the government exchanges give people a large amount of currency at a price of 350,000 riyals per dollar, and this issuance has created a market for mediation in the currency market," he added.

Experts believe that although this measure by the government has prevented further increase in the exchange rate, it only works like housing and is not a cure for the pain of the dollar  link

Iraqi Dinar update for 12/12/22 - Could we reach our goal quicker

Pimpy’s Investment Chat-the other Side of Things:  12-12-2022

https://www.youtube.com/watch?v=_c9FV3o7jSs

NO MORE DOLLARS! Middle East Collective Advocates Use of Chinese Currency for Trade Settlement.

Deepin Moments:  12-12-2022

On December 8, leaders of China and Saudi Arabia held talks at the Royal Palace in Riyadh, Saudi Arabia.

After the talks, the two sides jointly issued a joint statement and held a ceremony to exchange texts of cooperation documents on the "Belt and Road", justice, education, new energy and other areas of cooperation.

For the warming of Sino-Saudi relations, the U.S. White House National Security Council spokesman Kirby said that Saudi Arabia remains a key partner of the United States, but the U.S. side believes that China is trying to spread its influence around the world, which is "not conducive" to maintaining international order.

Kirby claimed that the U.S. is not asking countries like Saudi Arabia to choose sides between China and the U.S., but President Biden believes that the U.S. is certainly in a good position to take the lead in the strategic competition between the U.S. and China.

https://www.youtube.com/watch?v=CMghSS2v-D8

Bill Holter and Greg Mannarino Tuesday 12-13-2022

Here’s How the CBDC Reset Goes Down | Bill Holter

Liberty and Finance:  12-13-2022

As news reports pile in about test drills and preparations for Central Bank Digital Currencies (CBDCs) set to track and control every aspect of our lives, preparedness-minded people are asking what the transition will be like, and what roles paper cash, physical gold & silver, and other assets will play in preserving our financial lives going forward.

Widely followed analyst Bill Holter returns to Liberty and Finance to lay out his vision for the CBDC reset impact on ordinary people, and to answer viewers’ questions about the road immediately ahead.

https://www.youtube.com/watch?v=UedBb_O64YE

(Alert). INFLATION CONTINUES TO RISE! THE US DOLLAR CRATERS, 10 YEAR YIELD PLUNGES.

Greg Mannarino:  12-13-2022

https://www.youtube.com/watch?v=KfI7ME2Kvjs

Things Won't Be So Expensive Next Year, Janet Yellen says

Things Won't Be So Expensive Next Year, Janet Yellen says — and Americans will be able to 'feel good about their finances and their personal economic situation'

Ayelet Sheffey   Mon, December 12, 2022

The US Treasury secretary told "60 Minutes" she's hopeful prices would greatly decrease next year.

Janet Yellen said that while there's risk of a recession, it's not needed to bring inflation down.

Her comments came amid expectations of another interest-rate hike from the Fed this week.

The nation's top Treasury official sees things looking up for Americans in the new year.

On Sunday, US Treasury Secretary Janet Yellen appeared on CBS' "60 Minutes" to chat about where she sees the economy headed, including the outlook on inflation and the labor market. While recent economic data show signs that the economy is headed in the right direction — the country added 263,000 payrolls in November — prices remain high, and the Federal Reserve has chosen to aggressively fight inflation by hiking interest rates, which some lawmakers worry could trigger a recession.

Yellen said that while there is a risk of a recession, she's hopeful that Americans will not feel a strain on their wallets for much longer.

"I believe inflation will be lower," Yellen said. "I am very hopeful that the labor market will remain quite healthy so that people can feel good about their finances and their personal economic situation."

"There's a risk of a recession," she added. "But it certainly isn't, in my view, something that is necessary to bring inflation down."

https://twitter.com/i/status/1602298206250999809

Yellen noted that gas prices and shipping costs have come down while the labor market is remaining strong, which is why she thinks that by the end of next year, there will be a "substantial reduction in inflation" as long as there isn't an "unanticipated shock."

To continue reading, please go to the original article here:

https://news.yahoo.com/things-wont-expensive-next-janet-154052163.html

News, Rumors and Opinions Tuesday AM 12-13-2022

KTFA:

Clare:  The application of international trade exchange for the Middle East transforms Iraq into an "electronic financial exchange center"

12/11/2022

Today, Monday, the Korean company (FinTech) announced the launch of the first service provided to the Middle East for international multi-currency transfer and cross-border trade conflicts through Iraq.

And she confirmed that she had obtained the approval of the Central Bank of Iraq to be the first authority authorized to deal with digital international trade in the Middle East.

The company said, through statements reported by the (News File) economic network and translated by (Baghdad Today), that "the company, in cooperation with Ishtar Gate, launched the international financial card service, which will enable Iraqi citizens to use cards for international commercial trading of all kinds, in addition to the simultaneous transfer of foreign currencies." Through direct electronic dealing within the card services.

The company said that the service is "unprecedented in the Middle East", announcing that Iraq is the leading country in the region in applying the technology of exchange and electronic financial transfer through cards and for citizens in general, explaining that it plans to launch the project at a later time in both Saudi Arabia and the UAE, relying on the Iraqi center . 

And she continued, "The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar."

 The company indicated that it "will open the door to foreign investment at the individual level as well, while it also indicated that cooperation with the Chinese (UnionPay) company will also provide the possibility of financial transfer in local currencies and easily between the Iraqi and Chinese markets in a completely electronic way." 

She added, "Regional banks and banks, especially in Saudi Arabia and the UAE, will start next year 2023 by relying on the Iraqi market for electronic money transfer, as it is the only market currently 'leading' in the field, which provides unprecedented financial services at the level of the Middle East."   LINK

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RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 13 Dec. 2022

Compiled Tues. 13 Dec. 2022 12:01am EST by Judy Byington

Global Currency Reset.

A text received late Mon. 12 Dec. stated “Sources are saying the Event will roll out over 3 days with Tiers 2 & 3 today (Mon. 12 Dec.); Tier 4-A Tues. (13 Dec.) and wrapping up with the launch of 4-B on Wed. (14 Dec.).” …Private Banker

On Mon. 12 Dec the Private Banker reported that “everything we have been waiting for was about to take place. … A bad Actor would be militarily removed, the Mainstream Media would begin reporting more and more Real News and people would be removed “from everywhere.” … A couple of things were slated to begin happening on Tues. 13 Dec. Important Events would continue to be made public until the end of the month. It would be a December to Remember.

On Mon. 12 Dec. the Iraqi Dinar posted a new $4.00 Rate on the Forex (on the bank back screens and trading upward). The Vietnamese Dong would be posting it’s new rate on Sat. 17 Dec. and Zimbabwe Notes would be posting their rate next week, as would the gold-backed USD likely be coming out Tues. 20 Dec. or Wed. 21 Dec. …A High Up Source

All US fiat currency has to be turned in to exchange for the new US gold-backed notes by 31 Jan. 2023. …Simeon Parkes

On Sun. 11 Dec. Tony Renfrow sent out a tweet “Today I’ve got calls from the banks both here and in Iraq. Things are definitely moving on both ends. Christmas is coming.”

Sat. 10 Dec. Goldilocks: “Banks are preparing to activate the new digital gold backed financial system. At this time, banks are being audited to show proof of assets to support banking transactions. When this is complete, the implementation of an international payment system will come into play.”

The Real News for Mon. 12 Dec. 2022:

The Bank of International Settlements has warned that pension funds and other non-bank financial firms have more than $80 Trillion of hidden, off-balance sheet dollar debt in the form of FX Swaps.

Last year the collapse of banks began throughout European nations, Middle East, South America, Canada, Australia and the US – a collapse that would expose a Crypto World money laundering system in all countries.

The Deep State in the U.S. plans to create a full authoritarian money system control by implanting Central Banking digital currency (CBDC) as the global economy, although this operation was bound to quickly collapse and expose corruption of the Deep State Shadow Government. A huge Crypto Currency corruption scandal would hit with the COLLAPSE of a major U.S. bank and hundreds of small banks across the U.S.

Read full post here:  https://dinarchronicles.com/2022/12/13/restored-republic-via-a-gcr-update-as-of-december-13-2022/

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Courtesy of Dinar Guru

Frank26   Question:  "How close are we?"  We're as close as your dandruff is to your hair...we're as close as your breath is to your lungs.  We are very close in my opinion.  We've been wanting to see the things that we're seeing in print.  That's what puts us in a very positive mood and a good direction.  

RVAlready  ...If, indeed, their currency has depeged, we will have to see what the market thinks of their gold reserves, foreign currency and bond reserves, and GDP.  It will take a bit for a new value to be established...Don’t be surprised if it does not jump right away.  Iraq estimated 10 days for the price to stabilize. I’m guessing it should settle by December 20th...I’m hoping for $1 or $1.50 by December 20. We will see what happens.

Mike Maloney:  WARNING TO THE FED - Part 1

12-12-2022

Mike Maloney can’t stay silent any longer…

Today, he’s coming out with a dire warning aimed right at the Fed calling attention to the precarious situation our economy is in.

In part one of this two part series, Mike explains exactly how the situation with rising interest rates, inflation, bonds, real estate, and the expansion of the currency supply have all created a perfect storm capable of breaking the entire economy.

 And this time around, it won’t just be a stock market crash… this time it will include stocks, real estate, bonds, and more.

 It truly has the potential to be the most horrific financial event in history.

Mike says that unless the Fed takes action soon, a crash far worse than 2008 is inevitable… So, Mike is releasing a dire warning, calling out the Fed by name, in today’s video.

Watch his video now for the full story.

https://www.youtube.com/watch?v=OF18CIMt9RE

The Coming Bonanza in Distressed Debt

The Coming Bonanza in Distressed Debt

December 12, 2022  Simon Black & Sovereign Research & Advisory Group

On the morning of June 20, 1783, the Continental Congress of the United States was just starting its daily session at Independence Hall in Philadelphia when the building was suddenly mobbed by hundreds of angry people.

It turned out the protesters were soldiers who had fought in the American Revolution. And they wanted their money.

By the summer of 1783 the American Revolution was effectively over; the British had already surrendered at Yorktown more than 18-months prior, back in October 1781, and everyone was just waiting for the diplomats to conclude the final peace treaty.

In the meantime, the fledgling government of the United States had already started work on building a new nation. But one of the biggest challenges they faced was their enormous mountain of debt.

The national and state governments in the US had borrowed vast sums to finance the war, and they owed money to just about everyone — including the French, Dutch, and Spanish, not to mention plenty of private investors in the US.

Moreover, the US and state governments owed money to their soldiers; most of the troops had been paid in IOUs, especially during the latter part of the war. Plus farmers and merchants who had provided critical supplies to the US Continental Army had also been paid in stacks of IOUs.

And with the war formally winding down in 1783, there were a lot of people who wanted to the government to make good on its IOUs… hence the protest in Philadelphia.

The protesters, however, were unsuccessful. The politicians managed to escape (temporarily relocating their capital to Princeton, New Jersey), and the event was deemed an insurrection. Several protesters were arrested, and Congress later held a formal investigation into the matter.

And yet no one was actually paid. The men who had fought and bled for independence were largely abandoned, and most people soon believed their IOUs to be worthless.

Now, these IOUs essentially constituted government debt… like a bond. And it didn’t take very long for savvy New York banking houses to see an opportunity and to start buying up all the IOU/bonds they could find.

Bankers bought IOUs from former soldiers and farmers for pennies on the dollar, and then leaned heavily on their political influence to ensure the IOUs would be repaid in full.

Their plan worked. By 1790, the new federal government had passed a series of laws, taxes, and tariffs, guaranteeing repayment of the debt.

The bankers made out like bandits. And ironically, the same farmers and ex-soldiers who sold their IOUs for pennies on the dollar were the ones who ended up paying the new taxes in order to repay them.

This is a far too common theme in the history of finance; large, politically-connected players often take advantage of the little guy. But sometimes circumstances offer the little guy a chance to hit back.

I believe we are entering one of those periods now.

The first important point to understand is that the last 14 years or so has seen some of the most unprecedented financial conditions in 5,000 years of human history.

Literally never before have interest rates been kept so low, for so long, in virtually every major corner of world.

In the US — the largest economy in the world — interest rates were held at zero for years. And multiple countries totaling over 20% of global GDP actually had NEGATIVE interest rates.

It turns out this policy had a lot of consequences. And one consequence was that governments and corporations borrowed enormous amounts of money.

Hopelessly bankrupt governments with a history of default (like Argentina) were able to issue ONE HUNDRED YEAR bonds paying irrationally low rates.

And companies with very little hope of becoming profitable were able to borrow a ton of money; they then used a lot of that money to buy back their stock, artificially boosting the stock price and giving the appearance that everything was going great.

But now there are a lot of governments and businesses in a serious pickle. Interest rates have been rising rapidly.

The global economy is slowing. And it’s starting to look very likely that a number of governments and businesses won’t be able to pay their debts.

I originally brought this idea up more than two years ago at the beginning of COVID, suggesting that a lot of companies would be wiped out from the twin threat of lockdowns plus heavy debt burdens.

But that COVID distressed debt bonanza didn’t materialize… because the government stepped in and bailed everyone out. Plus central banks slashed rates back to zero, kicking the debt can down the road even further.

Financial conditions have changed substantially since then. Interest rates are MUCH higher across the board than they were two years ago.

Residential mortgage rates have climbed from 2.75% to 7.32%. The US 6-month Treasury was just 0.03% last summer. Today it’s 4.75%.

And corporate “junk bonds” yielded as low as 3.8% last year. Today those junk rates are nearly 10%.

That last point is really important, and I’ll give you an easy example. We all know how the cruise industry struggled once the pandemic hit, and those struggles continue today.

Carnival Cruise Lines is hurting so badly that the company’s ‘gross profit’ is negative, meaning that it costs the company more to operate their cruise ships than they generate in revenue.

In Q2, for example, Carnival generated $1.2 billion in cruise revenue. But they spent $1.7 billion on fuel, food, crew salaries, etc., resulting a NEGATIVE gross profit of -$500MM. And that’s BEFORE paying for corporate management, administrative expenses, etc. (which totaled another $400 million).

And it’s also before Carnival paid a single penny of interest or principal on its debt.

They’re clearly in a tough spot. And it was even worse last year and the year before.

Yet Carnival has been able to keep the party going by taking on debt; its total debt is now nearly $30 billion, up from less than $10 billion in 2019, pre-COVID.

That’s a lot of debt, given that Carnival’s total equity is only around $8 billion. So it’s ‘debt to equity’ ratio is nearly 4:1.

When rates were still low and their business was somewhat healthy, Carnival was able to borrow money at just 1%.

But now that their business is in the dumps, and interest rates have increased substantially, Carnival is borrowing money at 10.5%.

Remember, the company doesn’t even make enough money to pay its 1% debt, let alone 10.5% debt.

And what’s worse is that these bonds will eventually need to be paid back; in the next 12 months alone, Carnival will have to repay nearly $1 billion in debt. And they simply don’t have the money.

This is a classic distress situation. And it’s no wonder that investors have been dumping Carnival bonds.

But it’s not just Carnival, or even the cruise industry. You’d be surprised at how many companies are in a similar situation — heavily in debt and unable to pay. They’re basically walking dead, which is why they’re commonly referred to as ‘zombie companies’.

Zombie companies have been with us for years; they’ve only been able to survive thanks to cheap interest rates and government bailouts.

But, again, financial conditions have changed dramatically. And if interest rates stay high (or go higher), I think it’s likely that we’ll see a wave of bankruptcies and asset sales, possibly over the next 12 months.

This means that there may be a coming bonanza in distressed debt. And, for a change, one where the little guy has a major advantage.

To your freedom,  Simon Black, Founder   Sovereign Research & Advisory

https://www.sovereignman.com/trends/the-coming-bonanza-in-distressed-debt-144702/

More News, Rumors and Opinions Monday Afternoon 12-12-2022

TNT:

CandyKisses:  Baghdad and the region form three committees and agree to clear all outstanding issues

 {Politics: Al Furat News} Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired today, Monday, the fourth meeting of the Ministerial Council for Economy, in the presence of the Deputy Prime Minister and Minister of Planning and the Ministers of Finance, Trade, Industry,

Agriculture, Labor and Social Affairs, Secretary General of the Council of Ministers, Governor of the Bank Iraqi Central Bank and advisors to the Prime Minister for economic and legal affairs.

The Council also hosted a delegation from the Kurdistan region that included the Minister of Finance and Economy, the Minister of Natural Resources, the President of the Audit Bureau, the President of the

Presidential Court, the representative of the Kurdistan Region in Baghdad and a number of advisors and general managers.

The Deputy Prime Minister welcomed the guest delegation, and pointed out the importance of sitting at the discussion table in order to resolve all outstanding economic issues, and initiated this meeting to discuss the draft federal budget law.

The Minister of Finance gave an explanation of the most important paragraphs of the draft law and what was included in the draft, pointing to the importance of agreeing on the paragraphs pertaining to the Kurdistan region.

In turn, the Deputy Prime Minister and Minister of Planning referred to the direction of the government and the prime minister in order to resolve all outstanding problems between Baghdad and Erbil as included in the government curriculum for it, adding to the formation of three important joint committees. involved in this field, and the third is concerned with the work of border crossings and related matters.

For his part, the Minister of Finance and Economy in the regional government affirmed his government's determination to clear all outstanding and thorny issues.

At the end of the hosting, and after constructive and meaningful discussions, Fuad Hussein indicated the existence of common ground and the national desire to resolve all outstanding issues through dialogue.
The Council discussed the economic issues on its agenda and took the necessary decisions in this regard.

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Tishwash:  Fitch evaluates an Iraqi bank: the banking system is weak and fragile

Today, Monday, the official Fitch Index for evaluating the work of international banks issued its annual assessment of the work of Iraqi banks, the domestic  and foreign investment sector,  in addition  to  the loan and management system within the country, under the example of the Khaleej Commercial Bank. 

The international index described through its official website, and according to what was translated (Baghdad Today), the Iraqi banking sector as "suffering from high dependence on unstable oil imports, the acquisition of management by the state, and its direct support for the development process, in addition to weak management and internal work systems and fragility in Work environment". 

The index report also evaluated the work of Iraq's Khaleej Commercial Bank, which it described as having a "fragile business system and poor standards."

The report confirmed that "the bank suffers from non-payment or delay in repayment of 99.4% of the loans it granted."

And he stressed that "the bank suffers from weakness in profits, and it is expected that this weakness will continue because of what he described as" the fragility of the banking work environment in Iraq in general.  link

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Courtesy of Dinar Guru

Frank26  It has to play out exactly as we're seeing it unfold.  Everybody knew.  You knew.  I knew.  Maybe some people pretended they didn't know but the dinar is never going to come out at $3+.  At least at 1 to 1 then you can de-peg...everyone knew it would be a gradual float then on the international market, for example Forex, the rate could return to $3+ range or above like other Middle Eastern countries around them.  It's a brilliant plan. 

Frank26   Article:  "With the participation of Iraq, the Chinese president will visit Saudi Arabia on Thursday to attend a joint summit"  IRAN NEEDS IRAQ'S CURRENCY & CHINA NEEDS IRAQ'S OIL BOTH ARE GREAT FOR THE IQD EXCHANGE RATE.

Nader From The Mid East  Article:  "Sunday, the Parliamentary Finance Committee announced the completion of the final touches of the budget and its transfer to the Prime Minister's Office..."

Iraqi Dinar update for 12/11/22 - Things are lining up

Pimpy’s investment Chat: The other Side of Things

https://www.youtube.com/watch?v=X9gFFueKPoo

MANNARINO IS BACK! And The fREakSHoW Continues... BIG TIME!

Greg Mannarino:  12-12-2022

https://www.youtube.com/watch?v=lv-xGzmV07w