More News, Rumors and Opinions Thursday PM 1-11-2024
TNT:
CandyKisses: A surplus of more than 10 trillion. How did Iraq end the 2023 budget without a deficit?-Urgent
Baghdad Today - Baghdad
Today, Thursday (January 10, 2024), the Parliamentary Finance Committee confirmed that the year 2023 did not witness any financial deficit as proven and estimated in the budget law.
Committee member Jamal Kojar told Baghdad Today that "the 2023 budget law did not witness any financial deficit, due to the cessation of disbursement of funds for projects in the provinces, by order of the Prime Minister to prevent the exploitation of those funds and projects by advertising elections during the last local elections."
"The funds of the projects that were not disbursed during the past year will be transferred to the 2024 budget, and we are waiting for the schedule of disbursements in order to see and vote on them, so far we do not know what the budget will include in terms of projects and disbursements," Koger said.
TNT:
CandyKisses: A surplus of more than 10 trillion. How did Iraq end the 2023 budget without a deficit?-Urgent
Baghdad Today - Baghdad
Today, Thursday (January 10, 2024), the Parliamentary Finance Committee confirmed that the year 2023 did not witness any financial deficit as proven and estimated in the budget law.
Committee member Jamal Kojar told Baghdad Today that "the 2023 budget law did not witness any financial deficit, due to the cessation of disbursement of funds for projects in the provinces, by order of the Prime Minister to prevent the exploitation of those funds and projects by advertising elections during the last local elections."
"The funds of the projects that were not disbursed during the past year will be transferred to the 2024 budget, and we are waiting for the schedule of disbursements in order to see and vote on them, so far we do not know what the budget will include in terms of projects and disbursements," Koger said.
The total revenues of the Iraqi state until November 2023 amounted to more than 121 trillion dinars, while expenditures amounted to more than 110 trillion dinars, which means a surplus of more than 10 trillion dinars, according to the Iraqi Ministry of Finance.
Tishwash: Tokyo: The Baghdad International Fair returns to the forefront and we enjoy friendly relations with Iraq
The General Company for Exhibitions and Commercial Services confirmed today, Thursday, that Japan's participation in the Baghdad Fair sessions has an economic and fundamental weight, while the Chargé d'Affairs of the Japanese Embassy in Iraq, Masimoto Keniji, indicated that the Baghdad Fair is returning to the forefront.
Director General of the General Company for Exhibitions and Commercial Services, Mustafa Al-Ani, said in his speech during the Japanese National Day celebration: “We congratulate the friendly country of Japan, the government and people, on the occasion of the Japanese National Day, and we wish them continued progress and prosperity.”
He continued, "Based on the depth of the distinguished economic and trade relations between Iraq and Japan, as the two countries have a close relationship over many decades with the economic and technical cooperation agreement signed between the two governments in 1944," noting "the efforts to sustain and strengthen these relations."
He pointed out that "Japan's participation in the ongoing Baghdad International Fair sessions in recent years has great economic and fundamental weight due to its global economic power, being the third largest economy in the world, and possessing an advanced and sophisticated vision and technology in various fields, in addition to the Iraqi consumer's confidence in Japanese goods." “For its strength and sobriety, the reputation of Japanese companies, and its transparency in business dealings.”
He continued, "The Iraqi people look with admiration at Japan's pioneering experience in dealing with the devastating effects of World War II, and look forward to benefiting from this experience in the construction and reconstruction process."
He expressed his "thanks for the efforts made by those in charge of the Japanese pavilion in their participation in the current session of the Baghdad International Fair, and his aspiration to increase economic activities and events between the two countries and to strengthen economic and trade relations through the serious and actual presence of Japanese companies in Iraq."
In turn, the Chargé d'Affairs of the Japanese Embassy in Iraq, Masimoto Keniji, confirmed, in a speech during the celebration, that "the Baghdad International Fair is returning to the forefront, especially with the participation of many countries and companies in this session."
He added, "Japanese-Iraqi economic relations enjoy a friendly relationship and witnessed a trade boom in the seventies, and after 2003, economic activities and relations returned," noting that "Japan provided much assistance in the southern regions and in several fields."
He pointed out that "Iraq has a rich history and Mesopotamian civilization, and they have many potentials represented by rich resources in addition to humanity with a young majority, in addition to its good relations with countries," explaining that "the Baghdad International Fair is an important link, as about 18 participated in this session." Japanese company.
He expressed his hope "for the development of Iraqi-Japanese relations in all fields," explaining that "the Japanese embassy receives many cultural activities." link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 These institutions [WTO etc] want Iraq to join them because they know Iraq is about to go into a float state. Let's look for 1 to 1200, 1 to 1,000, 1 to 1. Let's look for a change that is dramatic enough for it to be allowed to be released into the international theater. Within the next 5 days I'm very curious to see what the exchange rate will be after the 15th. Very curious to see if they're going to leave it at at penny stocks or are we improving?
Militia Man The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today. Why? ...One reason would be that there is exchange rate sensitivity with respect to the law...An exchange rate to be one that is stronger than the dollar (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!
What Happens When The Banks Go Bust? | Todd "Bubba" Horwitz
Liberty and Finance: 1-10-2024
The banks are too over leveraged, says Todd "Bubba" Horwitz.
"You cannot borrow your way out of debt. The more you have to borrow, the more leverage you are taking on," he says, "and eventually that leverage has to bust."
He discusses what he expects will happen if the banks go bust and how it may impact the depositor.
INTERVIEW TIMELINE:
0:00 Intro
1:09 Banking system
2:58 Let the banks fail
4:54 Commercial real estate
6:52 Jobs market
10:22 National debt
11:45 Presidential election
12:50 Rate cuts?
14:11 Market crash
15:51 Gold & silver
18:18 Bubba Trading
18:34 Last thoughts
BRICS Just Announced The Latest Game Plan For 2024, The World Is Not Ready!
BRICS Just Announced The Latest Game Plan For 2024, The World Is Not Ready!
Tech Revolution: 1-11-2024
Fast forward to August 23, 2023, and whoa – the 15th BRICS Summit just dropped a major bombshell. Guess what? Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE are joining the party.
Why, you ask? Well, it's all about strengthening financial cooperation among the BRICS crew. They're not just looking for a casual chat; they're eager to boost dialogue about payments and grease the wheels of trade and investments.
And guess what? It's not just among themselves but also with other developing nations. Now, let's dig into what BRICS just spilled and why this is a game-changer, especially for this year.
First things first, let's break down BRICS. It stands for Brazil, Russia, India, China, and South Africa. Looking ahead, with Russia hosting in 2024 and Brazil in 2025, experts are crossing their fingers for some serious teamwork.
BRICS Just Announced The Latest Game Plan For 2024, The World Is Not Ready!
Tech Revolution: 1-11-2024
Fast forward to August 23, 2023, and whoa – the 15th BRICS Summit just dropped a major bombshell. Guess what? Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE are joining the party.
Why, you ask? Well, it's all about strengthening financial cooperation among the BRICS crew. They're not just looking for a casual chat; they're eager to boost dialogue about payments and grease the wheels of trade and investments.
And guess what? It's not just among themselves but also with other developing nations. Now, let's dig into what BRICS just spilled and why this is a game-changer, especially for this year.
First things first, let's break down BRICS. It stands for Brazil, Russia, India, China, and South Africa. Looking ahead, with Russia hosting in 2024 and Brazil in 2025, experts are crossing their fingers for some serious teamwork.
Rumor has it, at the next summit in Russia, we might witness the birth of a common BRICS currency.
Exciting times, right? But let's rewind a bit. It's been a good 22 years since the term BRIC was coined, focusing on Brazil, Russia, India, and China. BRICS has grown since then and now boasts 11 nations, holding a whopping 44% of the global economy – from 44% of oil production to 36% of gas production.
But here's the catch – their role in the global financial system is still on the smaller side. The U.S. and its buddies still hold the reins. The Anticipation Building Up Now, let's talk anticipation.
In the foreign exchange market, where world currencies flex their muscles, the U.S. dollar is the heavyweight champ, making up 88% of the action. BRICS currencies? Just 9%. And in the credit market, it's not much to write home about. Payment systems? Most global trade settles in G7 currencies, not the BRICS gang.
The SWIFT system rules the roost, and the RMB, despite being a big player, is still playing second fiddle. So, what's the deal? BRICS wants a slice of the global financial pie that matches their real-world contributions.
They're eyeing their own multilateral settlement system, waving goodbye to the Western-dominated infrastructure. Bold move, right? If they pull it off, it could shake up the whole financial game.
The Game-Changing Announcement Fasten your seatbelts because here comes the game-changer. BRICS nations are making a splash in the financial world. They've been eyeing the SWIFT payment system, dominated by the West, and thinking, "Why not have our own thing?" Enter BRICS Pay – their very own payment system.
Here's the intriguing part. People are wondering if BRICS Pay is paving the road for something even bigger – a whole new currency for BRICS in 2024. Why? These countries want to reduce their reliance on the US dollar, and they're making serious moves to make it happen.
This year has been all about the BRICS nations teaming up against the Western giants, doing some serious economic teamwork. But, you know, taking down the global dominance of the US dollar is no small feat. Almost half of the world's payments still rock the greenback.
But with BRICS Pay in the picture, things might just be shifting. Talks are buzzing about how BRICS Pay could be a game-changer towards de-dollarization. Imagine it replacing SWIFT – that's a bold move, right?
The idea of a full-fledged BRICS currency by 2024 might sound a bit out there, but it's not impossible. BRICS Pay is just the beginning. Create a super smooth payment system for cross-border deals, and then, who knows, introduce a brand new currency.
New Entrants in 2024 Now, onto the newbies set to join BRICS in 2024. Iran takes the top spot, probably due to its close ties to Russia. The Kingdom of Saudi Arabia is also in, along with the Federal Republic of Ethiopia, Egypt, and not forgetting the United Arab Emirates. Iran officially joins the BRICS alliance starting January 1, 2024.
But what does this mean for Iran? First things first, it's like a shield against those pesky imposed sanctions on Iran. It's a power move that's going to make it tougher for those sanctions to mess with Iran's economy. Plus, joining the BRICS gang is like giving Iran a serious boost in the political and soft power department. It's like saying, "Hey world, we're players on the global stage!"
Now, picture this – deeper connections between Beijing, Moscow, and Tehran. These three powerhouses are basically the architects of a new world order. With Iran officially in the mix, you can expect some serious collaboration and teamwork.
But it's not just about those three buddies. This BRICS membership is like a golden ticket for Iran to expand its friendships around the globe.
More Details In The Video
Avoiding The Next Inflation May Now Require A Zombie Apocalypse
Avoiding The Next Inflation May Now Require A Zombie Apocalypse
Notes From the Field By Simon Black January 10, 2024
Earlier this week, leaders from both major parties in the Land of the Free announced a grand bargain that, in theory, should avoid a government shutdown later this month.
According to their agreement, Congress will supposedly cap its ‘discretionary’ spending at $1.6 trillion for Fiscal Year 2024. That’s down from about $1.7 trillion in FY23.
So, yes, technically this $100 billion reduction represents about a 6% decrease over last year. And if we want to be even more cheerful about it, we could call it a 9% decrease on an inflation-adjusted basis.
If we’re being intellectually honest, that’s a step in the right direction for the US. A tiny, tiny, tiny step in the right direction.
How tiny, you ask?
Well, pretty much non-existent; the agreement to cut spending is an almost entirely symbolic gesture that won’t do much good.
Avoiding The Next Inflation May Now Require A Zombie Apocalypse
Notes From the Field By Simon Black January 10, 2024
Earlier this week, leaders from both major parties in the Land of the Free announced a grand bargain that, in theory, should avoid a government shutdown later this month.
According to their agreement, Congress will supposedly cap its ‘discretionary’ spending at $1.6 trillion for Fiscal Year 2024. That’s down from about $1.7 trillion in FY23.
So, yes, technically this $100 billion reduction represents about a 6% decrease over last year. And if we want to be even more cheerful about it, we could call it a 9% decrease on an inflation-adjusted basis.
If we’re being intellectually honest, that’s a step in the right direction for the US. A tiny, tiny, tiny step in the right direction.
How tiny, you ask?
Well, pretty much non-existent; the agreement to cut spending is an almost entirely symbolic gesture that won’t do much good.
Before we go further, it’s important to understand that government spending is generally categorized into three distinct buckets.
The first bucket is interest on the debt. And, at least for now, this is non-negotiable. It has to be paid.
And I don’t mean it ‘has to be paid’ in the moral sense that “America always pays its debts.”
I mean, legally, interest on the debt is automatically paid. Just like your monthly mortgage, interest payments on the US national debt get automatically sucked out of the Treasury Department’s bank account.
The second bucket is what’s known as “Mandatory Spending”, which includes programs like Social Security and Medicare. Just like the interest bucket, Mandatory Spending gets sucked out of the Treasury Department’s bank account every month.
Those two buckets-- Interest payments and Mandatory Spending-- constitute the vast majority of US federal spending.
The third bucket is known as Discretionary Spending… because it’s at Congress’s discretion.
Discretionary spending is what results from all their debates and arguments over annual appropriations, for everything from the military to the national parks. It also includes supplemental spending for pandemic bailouts, Ukraine, Hunter Biden artwork, etc.
So, the announcement this week was about a $100 billion reduction to Discretionary Spending.
But consider that Mandatory Spending (which Congress doesn’t touch) on Social Security alone surged $281 billion last year… and will likely increase by a similar magnitude this year.
So that single increase to Mandatory Spending will more than wipe out the entire $100 billion Discretionary Spending reduction.
Easy come, easy go.
Then there’s interest on the debt, which increased by $177 billion last fiscal year. It will probably increase by at least that much this year… which, again, more than wipes out the entire $100 billion in Discretionary Spending reduction.
If you drill down into the numbers, you’ll see pretty clearly that there are very few credible paths forward for the United States.
One path is to drastically… and I mean almost entirely… slash Discretionary Spending.
Look at it this way-- last year’s Discretionary Spending was $1.7 trillion. The government is claiming that their annual budget deficit last year was also $1.7 trillion.
This means that, in order to balance the budget, they would have to almost completely eliminate ALL discretionary spending. No more military. No more Homeland Security. No more government.
In other words, one of the only ways to balance the budget would be a Zombie Apocalypse in Washington DC.
The second path forward is to make major cuts to Mandatory Spending… which would involve politically unpopular overhauls to Social Security and Medicare.
Few politicians have the courage to do so. And given that they can’t even agree on basic priorities for Discretionary Spending, it seems unlikely that they’ll come together for more difficult cuts to Mandatory Spending.
This leaves the third path forward: to prioritize economic growth and productivity... by slashing regulations and actually make it easy once again for people to do business.
And this approach would really work. If real (i.e. inflation-adjusted) economic growth were 3% or even 3.5%, instead of 2%, then America’s fiscal woes would be over within a decade. And this is totally achievable.
With just 3% real growth, tax revenues would soar, the budget would be balanced, and the national debt would be trivial in comparison to the size of the US economy.
Seems like the obvious approach, right? Except that they’re doing the opposite… foisting even more regulatory burdens onto small business.
It’s no surprise that tax revenue last fiscal year was down 9% from the year before; that’s a testament to not only a weakened economy, but the Byzantine regulatory state that they’ve created over the past few years.
The most recent example is the Corporate Transparency Act (CTA), the completely idiotic and destructive piece of legislation that I discussed last week.
The CTA exists because the government thinks that its tax revenue should be higher. And they’re right-- federal tax revenue SHOULD be higher.
But the government never points the finger at themselves. They never conclude that dwindling tax revenues are the result of their criminal mismanagement of the economy, including all the excessive regulations which debilitate business.
No, to them, the only possible reason why tax revenues are down is because of criminal tax evasion. So, their solution is to create even more regulation which forces business owners to file information reports to the government.
The even more pathetic part is that US businesses already must provide this information to the IRS.
But Congress doesn’t care. Instead, they demand that taxpayers provide the exact same information-- but in a different format-- to a separate agency within the Treasury Department.
Saddling small businesses with more paperwork is hardly the sort of thing that is going to make the US economy more productive.
So, they’re not going to eliminate Discretionary Spending. They’re most likely not going to find the courage or wisdom to cut Mandatory Spending.
And it sure as hell doesn’t look like they’re going to prioritize growth and productivity.
That leads to the fourth and final option: inflation… which, from a historical perspective, is what almost ALWAYS happens in these scenarios.
We’ll talk a lot more about this soon.
Simon Black, Founder Sovereign Man
One of the Largest US Public Pension Plans Needs $30 Billion Amid CRE Crisis and Growing Financial System Meltdown
One of the Largest US Public Pension Plans Needs $30 Billion Amid CRE Crisis and Growing Financial System Meltdown
On January 10, 2024 By Awake-In-3D
In the backdrop of an increasingly unstable global fiat currency debt system, the California State Teachers’ Retirement System (CalSTRS), one of the largest public pension plans in the US, is making a forced decision.
Faced with the dual challenges of CRE market turmoil and the logical conclusion of the great global fiat currency debt system, CalSTRS plans to borrow $30 billion, representing about 10% of its $318 billion portfolio. This move is aimed at maintaining liquidity without resorting to a fire-sale of its assets.
One of the Largest US Public Pension Plans Needs $30 Billion Amid CRE Crisis and Growing Financial System Meltdown
On January 10, 2024 By Awake-In-3D
In the backdrop of an increasingly unstable global fiat currency debt system, the California State Teachers’ Retirement System (CalSTRS), one of the largest public pension plans in the US, is making a forced decision.
Faced with the dual challenges of CRE market turmoil and the logical conclusion of the great global fiat currency debt system, CalSTRS plans to borrow $30 billion, representing about 10% of its $318 billion portfolio. This move is aimed at maintaining liquidity without resorting to a fire-sale of its assets.
Strategic Leverage amidst Fiat Instability
The decision to leverage funds is a strategic response not just to the real estate downturn, but also to the broader concerns regarding the sustainability of the global fiat debt currency system. CalSTRS’ board is set to review this policy, which, if approved, will see the leverage used temporarily to meet cash flow needs in unfavorable asset selling conditions.
Current Leverage and Portfolio Management
Currently, CalSTRS uses leverage amounting to about 4% of its portfolio, as indicated by Meketa Investment Group, its consultant. The proposed increase is not for a new asset allocation but to smooth cash flows and as a tool to navigate portfolio management amidst market and currency volatility.
Impact of CRE Downfall and Fiat Concerns on CalSTRS
The Financial Times’ report last April highlighted CalSTRS’ intention to write down its $52 billion commercial real estate portfolio, exacerbated by rising interest rates and destabilized fiat currencies.
Related article:
From Bad to Worse – Commercial Real Estate Meltdown Unfolding
According to CalSTRS Chief Investment Officer Christopher Ailman, office real estate values have declined significantly, a situation aggravated by the uncertainty in the fiat currency system. Previously, CRE was a top-performing asset class for CalSTRS, delivering robust returns over a decade.
Real Estate in CalSTRS’ Portfolio
Real estate makes up roughly 17% of CalSTRS’ total assets. The CRE downturn, coupled with the implications of a faltering global fiat currency system, has put substantial pressure on pension plans like CalSTRS.
Regional banks with high CRE exposure are also at risk in this volatile economic environment.
Contributing article: https://www.bloomberg.com/news/articles/2024-01-04/calstrs-seeks-to-borrow-more-than-30-billion-to-manage-cash
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
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Fall of the Fiat Empire: Why We Can't Escape the Debt Trap
Fall of the Fiat Empire: Why We Can't Escape the Debt Trap
Commodity Culture: 1-11-2024
Alasdair Macleod sheds light on the vulnerabilities of fiat monetary systems and the potential consequences they entail.
In this eye-opening discussion, we explore why central banks around the world are caught in an inescapable debt trap and examine the historic significance and enduring allure of gold as a stable store of value.
With its unrivaled track record, gold has stood the test of time throughout countless monetary fluctuations. Uncover the reasons behind its reemergence as a trusted safeguard against economic volatility and inflation.
Fall of the Fiat Empire: Why We Can't Escape the Debt Trap
Commodity Culture: 1-11-2024
Alasdair Macleod sheds light on the vulnerabilities of fiat monetary systems and the potential consequences they entail.
In this eye-opening discussion, we explore why central banks around the world are caught in an inescapable debt trap and examine the historic significance and enduring allure of gold as a stable store of value.
With its unrivaled track record, gold has stood the test of time throughout countless monetary fluctuations. Uncover the reasons behind its reemergence as a trusted safeguard against economic volatility and inflation.
"Tidbits From TNT" Thursday Morning 1-11-2024
TNT:
Tishwash: you can look each one of these up and see what they do too
UK Firms introduce new Banking Systems at National Bank of Iraq
The National Bank of Iraq (NBI) has announced the introduction of three new banking systems.
According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help of software from UK-based Finastra.
Additionally, both NBI and Capital Bank of Jordan have successfully implemented Transact, a core banking solution from British company Temenos.
Temenos' Payment Hub will also replace the legacy systems at NBI. link
TNT:
Tishwash: you can look each one of these up and see what they do too
UK Firms introduce new Banking Systems at National Bank of Iraq
The National Bank of Iraq (NBI) has announced the introduction of three new banking systems.
According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help of software from UK-based Finastra.
Additionally, both NBI and Capital Bank of Jordan have successfully implemented Transact, a core banking solution from British company Temenos.
Temenos' Payment Hub will also replace the legacy systems at NBI. link
CandyKisses: The popular movement demands the deterrence of US forces and the end of their presence inside Iraq
Information / Baghdad...
Hussein al-Karawi, a member of the popular movement for the Belt and Road, said on Thursday that Iraq has the possibility of heading towards the eastern camp and moving away from US economic hegemony, and taking appropriate decisions to deter US forces and end their presence inside Iraq without thinking about the economic consequences for Washington.
Al-Karawi told Al-Maalouma that "political forces must move to put an end to the American transgressions on the Iraqi people, the security services and the Popular Mobilization, and this requires a unified position from the resistance forces to pressure the political parties to take decisions that would end the American presence inside Iraq."
He added that "America continues its violations and crimes inside Iraq, and this requires taking deterrent measures to stop these repeated attacks against the Iraqi people."
He pointed out that "Iraq can not link its economy to the American side and head towards the eastern camp alongside Russia, China, Iran and other Asian countries, and take decisions that ensure the removal of the American occupier from Iraq without thinking or fearing any economic measures that Washington may take against Baghdad." Finished 25n
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CandyKisses: The UAE invites the Sudanese to participate in the World Government Summit
Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani received, on Wednesday, an invitation to participate in the work of the World Government Summit 2024.
His media office said in a statement received by Shafaq News Agency, that Al-Sudani received, this afternoon, the Ambassador of the United Arab Emirates in Baghdad, Salem Al-Zaabi.
According to the statement, Al Zaabi brought the greetings of the President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan, and the Ruler of Dubai, Mohammed bin Rashid Al Maktoum, to the Prime Minister, handing him an invitation from Mohammed bin Rashid to participate in the work of the World Government Summit 2024, which will be held in the Emirates. Next February.
According to the statement, the Prime Minister stressed the depth of the relationship between Iraq and the UAE, pointing to the importance of the global summit and its vital impact on providing services in various forms to citizens, and praised the UAE government and its leadership in the field of e-government.
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CandyKisses: Officially.. The House of Representatives sets next Saturday as the date for the election of a speaker of parliament
Baghdad Today - Baghdad
Today, Thursday (January 11, 2024), the House of Representatives announced the agenda of its session scheduled to be held next Saturday.
According to a document issued by the media department of the House of Representatives, and obtained by "Baghdad Today", "the session of the House of Representatives scheduled to be held next Saturday will include the election of the speaker of the House of Representatives. "
She pointed out that "the session will be held at three o'clock in the afternoon."
Mot: FYI!!! -- School Was WAY easier in His Day - Because ...
Mot: . Had I known He was Real!!! --- ooooh Well!!!!
News, Rumors and Opinions Thursday AM 1-11-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 11 Jan. 2024
Compiled Thurs. 11 Jan. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Judy Note: On Wed. 10 Jan. 2024 all qualified banks around the World (allegedly) connected to the new gold/ asset-backed Quantum Financial System on the new Star Link Satellite System.
Of all the information floating around on the RV today Wed. 10 Jan, the most valid seemed to be that important announcements would be (allegedly) made on Thurs. 11 Jan.
Would that be NESARA/ GESARA? The new gold/asset-backed US Note was active? The Global Currency Reset has occurred? Would we be in Martial Law?
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 11 Jan. 2024
Compiled Thurs. 11 Jan. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Judy Note: On Wed. 10 Jan. 2024 all qualified banks around the World (allegedly) connected to the new gold/ asset-backed Quantum Financial System on the new Star Link Satellite System.
Of all the information floating around on the RV today Wed. 10 Jan, the most valid seemed to be that important announcements would be (allegedly) made on Thurs. 11 Jan.
Would that be NESARA/ GESARA? The new gold/asset-backed US Note was active? The Global Currency Reset has occurred? Would we be in Martial Law?
The Iraqi PM and Governor of the Iraq Central Bank believed that the RV would (allegedly) happen on Sun. 14 Jan. and the Iraqi Dinar would be(allegedly) live on the front screens of the Forex, along with all other revalued currencies that had new International Rates on Mon. 15 Jan.
Bond people began (allegedly) receiving their notifications to access their accounts on Tues. 9 Jan. and more have received emails today Wed. 9 Jan.
The new Dinar International Rate would be (allegedly) retroactive to Sun. 1 Jan – the date it was supposed to revalue.
Wed. 10 Jan. Bearded Patriot on Telegram: “Special announcements are supposed to happen tomorrow Thurs. 11 Jan. anywhere from Nesara, the GCR and new USN.”
RUMORS: Wed. 10 Jan. Ginger’s Liberty Lounge on Telegram: Admiral contact: The RV was scheduled for the first week of January 2024, actually January 2nd, specifically. Not that we will care, but the RV international rate will be retroactive to January 1st. Basically the currency exchange calculations (the “math” he said) within Iraq was not within guidelines at that time. We are hearing that it has since been corrected. Perhaps they were just pushing it to occur – on what we’ve often been told would be likely – a three-day weekend? A 3-day weekend approaches just around the corner. Iraqi Prime Minister Al Sudani and the Governor of the Central Bank of Iraq Al Allaq are both attending the World Economic Forum in Davos Switzerland for the annual meeting January 14th to 19th. Today Wed. 10 Jan. there is an exchange rate for the Iraqi dinar and the US Dollar. On Mon. 15 Jan. the Iraqi Dinar is to have international rates with multiple international currencies. Meaning it’ll be tradable, internationally. He goes on to say that “Everyone is expecting the RV on Sun. 14 Jan. The IMF, which is in charge of timing, said, “Anytime Friday to Sunday.” Bond liquidity has to happen first.
Wed. 10 Jan. Wolverine:
All documents are(allegedly) getting finalized in Reno and there is a good chance things will roll out tomorrow Thurs. 11 Jan.
People are traveling. I was on a call with a huge Whale who is going to Bogota for his blessing. We are definitely close.
Notifications ARE (allegedly) coming out for bond holders.
Rumor is that the notifications for T4B have started going out.
You can now (allegedly) prepare for your appointments. You will soon(allegedly) receive your emails, 800 numbers or the equivalent in each country, and you will be able to sign up and easily make your exchange appointments.
Only bring original documents and some may have to be certified.
All Redemption Centers will (allegedly) be open at the same time.
There is coordinated action and planning of common guidelines for the 209 nations that (allegedly) signed GESARA.
NESARA/GESARA are due to be officially (allegedly) announced tomorrow, January 11th.
The Iraqi Dinar must (allegedly) become internationalized between today Wed. 10 Jan. and tomorrow Thurs. 11 Jan.
The last obstacles have been removed. Many people(allegedly) arrested for trying to stop the process.
Tomorrow Thurs. 11 Jan. there will be a (allegedly) new world. Let’s cross the finish line all together, as ONE and with great joy in our hearts! Happy new life everyone!!!
Read full post here: https://dinarchronicles.com/2024/01/11/restored-republic-via-a-gcr-update-as-of-january-11-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Aki - Iraq Bank owner in US update] Question: "The new orders you got on January 1st, are they for you to dispense the lower denoms and collect 3 zero notes?" Here in the Untied States we are preparing to do everything with electronic platforms...We are prepared to collect the 3 zero notes from those that wish to exchange them for American dollars...We follow International banking laws, the same laws American banks follow. Here in the United States the bank that I am in charge of will be all electronic. [Post 1 of 2....stay tuned]
Walkingstick When you ask about the LDs they are only found in Iraq. We do not possess them. Iraq will give to the Iraqi citizens, when the time comes, physical lower notes and coins and collect three zero notes...The difference is that here in the US I have to do everything electronic where my friends in Iraq, their banks can do it electronic or physically if they want the lower denoms and coins in their hands. [Post 2 of 2]
Jim Willie: Gold Is Replacing Treasuries As Store of Value NOW
Arcadia Economics: 1-10-2024
In recent years we've seen many of the traditional buyers of US treasuries cut back on their holdings. But what are they buying instead?
In today's show Dr. Jim Willie of The Hat Trick Letter talks about how the biggest treasury buyers are now rapidly purchasing gold. He digs into the current dynamics existing in the gold and #silver markets, and explains how he feels these markets will have to trade as the move away from the dollar on a global scale continues to unfold.
To find out more, click to watch this video now!
The World Is Selling Bonds & Buying Gold | Andy Schectman
The World Is Selling Bonds & Buying Gold | Andy Schectman
Liberty and Finance: 1-10-2024
Countries and investors around the world are buying gold, says Andy Schectman, CEO & president of Miles Franklin.
He believes they are preparing for a collapse of the Dollar-based financial system. He also discusses the risks in the banking system.
A decline in the value of commercial real-estate could lead to bank failures. Bail-ins are a real possibility, he says.
And if bail-ins are implemented, they would lead to a mad rush by depositors out of the banking system.
The World Is Selling Bonds & Buying Gold | Andy Schectman
Liberty and Finance: 1-10-2024
Countries and investors around the world are buying gold, says Andy Schectman, CEO & president of Miles Franklin.
He believes they are preparing for a collapse of the Dollar-based financial system. He also discusses the risks in the banking system.
A decline in the value of commercial real-estate could lead to bank failures. Bail-ins are a real possibility, he says.
And if bail-ins are implemented, they would lead to a mad rush by depositors out of the banking system.
Goldilocks' Comments and Global Economic News Wednesday Evening 1-10-24
Goldilocks' Comments and Global Economic News Wednesday Evening 1-10-24
Good Evening Dinar Recaps,
"The Bank Term Funding Program (BTFP), the Fed’s infamous tool to nip the March 2023 bank-panic and liquidity crisis in the bud, will expire on March 11, at its original one-year time limit, Michael Barr, Fed Vice Chair for Supervision, said at a panel appearance in Washington, D.C., today."
Not long ago, we learned that interest rates would take a drastic turn downward between March and May. This would be normal since interest rates normally fall during a recession. It is a tool that is used to stimulate growth.
Gold has a tendency to rise when interest rates go down. Historically, gold has been known to do very well during a recession as well. Do you see the setup patterns taking place?
We have new localized currencies around the world that are beginning to move into the marketplace, and they are being strengthened because of their inflationary demand at the present time.
Goldilocks' Comments and Global Economic News Wednesday Evening 1-10-24
Good Evening Dinar Recaps,
"The Bank Term Funding Program (BTFP), the Fed’s infamous tool to nip the March 2023 bank-panic and liquidity crisis in the bud, will expire on March 11, at its original one-year time limit, Michael Barr, Fed Vice Chair for Supervision, said at a panel appearance in Washington, D.C., today."
Not long ago, we learned that interest rates would take a drastic turn downward between March and May. This would be normal since interest rates normally fall during a recession. It is a tool that is used to stimulate growth.
Gold has a tendency to rise when interest rates go down. Historically, gold has been known to do very well during a recession as well. Do you see the setup patterns taking place?
We have new localized currencies around the world that are beginning to move into the marketplace, and they are being strengthened because of their inflationary demand at the present time.
The BTFP will be pulled on March the 11th, 2024. At this time, look for Market and currency interventions to begin. This is when our January the 16th, 2024 Basel 3 requirements to infuse the markets and banking system with gold to support their unification are most likely to create an incredible demand for gold.
These new tokenized assets across all sectors of the market including the Forex sector will then have access to gold's liquidity raising the value of our new digital economy through a new World Reserve Asset capable of deflating our inflated economy with real world values.
© Goldilocks
WolfStreet Link
Bullion By Post Link
Bloomberg Link
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Global economy on track for worst half-decade of growth in 30 years, says World Bank
https://www.ft.com/content/b00ec9ec-5497-4543-aa57-f10873c8952b
~~~~~~~~~~
We are just a few hours away from spot Bitcoin ETF approval. A couple of things for us to expect are as follows:
Historically, these events Trigger selling pressure on the CME Futures Market. Yes, selling pressure is usually the initial reaction to a new asset being added to the markets. We will see.
And, Standard Chartered Bank expects Market inflows to significantly increase for Bitcoin over the next two years.
These two triggers will increase the demand for Digital Asset Based Trading adoption. We have already heard of more ETFs being on their way to inclusion inside the market such as Ethereum and Ripple.
These trigger events will transition the market into a digital economy whereby new demands and new price actions on tokenized assets across every sector of the market will be revalued.
These new tokenized assets regulated by new Basel 3 requirements on January 16th, 2024 will be standardized through protocol 20 (January 30th) as the green light is given for Quantum Technologies to form new networks on our Global markets.
© Goldilocks
TheQuantumInsider. Link
https://www.sc.com/en/
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Washington, D.C. — "The Commodity Futures Trading Commission today issued, for public comment, a proposed rule on the Investment of Customer Funds by Futures Commission Merchants and Derivatives Clearing Organizations."
On January 17th, 2024 new rules are formulating new guidelines on the use of clients' money inside the banking system.
Investment of your money inside the banking system is about to come under new rulings that restrict past protocols.
These new guidelines will secure a client's assets through the use of gold supporting each account.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8818-23
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Key highlights of FinCEN’s final rule on access to Beneficial Ownership Information | Eversheds Sutherland (US) LLP JDSupra Link
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Crypto regulations tightened in 80% of major jurisdictions in 2023, analysts say Crypto News Link
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New maritime route to increase trade competitiveness of Jordan, Egypt - India Shipping News
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Gold shows modest gain amid dollar retreat and inflation report anticipation - Shafaq News Link
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A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency.
For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold. https://www.investopedia.com › ask
What Is the Gold Standard? Advantages, Alternatives, and History - Investopedia
👆Gold did not reset today, but it is indicating a level of caution today.
When it does, you will know the global economy has just agreed upon a change.
© Goldilocks
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And, so It begins. The transition into the new digital economy begins.
© Goldilocks
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Blockchain comes to bank wholesale deposits in bid to slash costs
Major banks will begin digitising contracts that govern their debt financing, and explore trading and settling money market transactions using blockchain technology, in a project that Imperium Markets and the Digital Finance Co-operative Research Centre (DFCRC) will launch in the coming months.
The move is an example of the “tokenisation” of financial assets (https://www.afr.com/companies/financial-services/tokenisation-of-real-world-assets-is-the-killer-app-for-crypto-20231019-p5edlb) – in this case, wholesale bank deposits – which has been identified by the Reserve Bank as one used for a digital version of the Australian dollar, the eAUD.
The trials suggest initial applications for blockchains beyond bitcoin in Australian financial markets will not be clearing and settlement of public equities – after ASX bungled a project to replace CHESS – but rather wholesale debt capital markets. AFR Link
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The RSI or Relative Strength Index is curling on Bitcoin whereby wrapped assets of spot Bitcoin ETF reside.
As we discussed earlier today, a new asset usually takes a dive the first day or so it enters the market before it starts to come back up.
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New BRICS PAY System: How BRICS Will Reset Global Currency Power : Awake-In-3D
New BRICS PAY System: How BRICS Will Reset Global Currency Power
On January 9, 2024 By Awake-In-3D
In RV/GCR
The BRICS alliance is spearheading an ambitious campaign to reshape the global financial landscape.
Central to their strategy is reducing the longstanding dominance of the U.S. dollar.
The significance of this shift cannot be overstated, as it represents a potential seismic rift in international economic power balances.
New BRICS PAY System: How BRICS Will Reset Global Currency Power
On January 9, 2024 By Awake-In-3D
In RV/GCR
The BRICS alliance is spearheading an ambitious campaign to reshape the global financial landscape.
Central to their strategy is reducing the longstanding dominance of the U.S. dollar.
The significance of this shift cannot be overstated, as it represents a potential seismic rift in international economic power balances.
De-Dollarization Drive Gains Momentum
After expanding to include ten nations in August 2023, the BRICS alliance has accelerated its efforts to move away from the U.S. dollar.
This involves two key strategies: first, promoting trade in local currencies amongst themselves, thus bypassing the need for dollar-based transactions; second, the development of a BRICS-specific currency, envisioned to directly compete with the U.S. dollar on a global scale.
Founding members Russia and China have been particularly proactive, entering into agreements to conduct bilateral trade in their local currencies.
This strategy is aimed at undermining the U.S. dollar’s role as the primary reserve currency and its dominance in international trade.
The Uphill Battle Against the Dollar’s Dominance
Despite these efforts, the dollar maintains a dominant role in global finance. Its widespread use in international trade, investment, and reserves reinforces its position.
The BRICS’ challenge is formidable; shifting away from a currency that is deeply embedded in global financial systems requires not just creating alternatives, but also convincing global actors to adopt these alternatives, which could be more costly and less efficient.
Limited Financial Influence Due to Western Institutions
Though the BRICS countries collectively account for a significant portion of the world’s production and consumption in various sectors, their influence in global finance remains limited.
This discrepancy is largely due to the control the U.S. and its allies hold over key financial instruments and institutions.
For example, the U.S. dollar continues to play a major role in global currency and credit markets, international trade invoicing, and forming official foreign exchange reserves.
Moreover, the U.S. retains considerable influence in major global financial institutions, like the International Monetary Fund (IMF) and World Bank.
BRICS PAY: Revamping the International Payment Infrastructure
The BRICS nations are not just looking to create an alternative currency but also to overhaul the international payment infrastructure.
The proposed BRICS PAY system aims to integrate traditional payment systems with innovative financial technologies, including central bank digital currencies and decentralized finance.
This system’s goal is to facilitate direct exchanges between national currencies of member states, eliminating the need for intermediary conversion into U.S. dollars.
This would reduce transaction costs and processing times, making trade within the BRICS bloc more efficient.
Read: What is the BRICS Pay initiative?
Currency Fairness for Global Financial Equity
The BRICS nations are also focused on creating a fairer global financial system. Their objective is to develop a framework for mutual settlements in their own currencies, which would help redistribute international financial flows more equitably.
This approach aims to correct structural imbalances in the global economy, where the current system disproportionately benefits developed nations at the expense of emerging markets.
By enabling settlements in their own currencies, BRICS nations hope to channel financial resources into priority industries and reduce their economic dependence on the dollar.
Bottom Line
The BRICS countries’ concerted push towards a de-dollarized world represents a bold attempt to redefine the global financial order.
This initiative, while fraught with challenges, has the potential to significantly alter the landscape of international finance, marking a shift from a U.S.-centric system to a more multipolar financial world.
Supporting articles:
BRICS to Eliminate US Dollar Financial System in 2024 – Watcher Guru
Can BRICS De-dollarize the Global Financial System? – Cambridge
Visualizing the BRICS Expansion in 4 Charts – Visual Capitalist
BRICS in Global Financial System: The Need to Level the Playing Field – Modern Diplomacy
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D
https://ai3d.blog/new-brics-pay-system-how-brics-will-reset-global-currency-power/
More News, Rumors and Opinions Wednesday Afternoon 1-10-2024
KTFA:
Clare: Al-Sudani opens the 47th session of the Baghdad Fair and announces new trade procedures
1/10/2024
Prime Minister Muhammad Shiaa Al-Sudani opened, on Wednesday, the 47th Baghdad International Fair with wide international participation.
Al-Sudani said during the opening of the Baghdad International Fair activities, "I welcome brothers, friends, companies and businessmen to peace in Baghdad."
He pointed out that "the Baghdad Exhibition represents one of the aspects of the relationship between Iraq and friendly countries," explaining that "for the first time, the Ministry of Commerce sets the commodity structure for imports and exports."
KTFA:
Clare: Al-Sudani opens the 47th session of the Baghdad Fair and announces new trade procedures
1/10/2024
Prime Minister Muhammad Shiaa Al-Sudani opened, on Wednesday, the 47th Baghdad International Fair with wide international participation.
Al-Sudani said during the opening of the Baghdad International Fair activities, "I welcome brothers, friends, companies and businessmen to peace in Baghdad."
He pointed out that "the Baghdad Exhibition represents one of the aspects of the relationship between Iraq and friendly countries," explaining that "for the first time, the Ministry of Commerce sets the commodity structure for imports and exports."
The Prime Minister continued, "We cannot create development without reforming the banking and financial sector," adding, "We came out with a package of measures that contribute to tax reform."
He added, "Today was a special day, as in the morning we laid the foundation stone for the construction of a bridge on the Tigris River. He said, "The process of development and work for a strong, stable and prosperous Iraq has begun."
850 different companies from 20 countries are participating in the exhibition, according to what Ministry of Commerce spokesman Muhammad Hanoun told Shafaq News Agency.
Hanoun added, "The Kingdom of Saudi Arabia is the official sponsor of the conference, as 140 companies will participate."
He stated that "8 Arab countries and 12 foreign countries will participate in the exhibition, namely Saudi Arabia, the Emirates, Jordan, Egypt, Syria, Oman, and Palestine, while foreign countries will include Spain, India, Pakistan, Indonesia, Thailand, Algiers, Azerbaijan, the Philippines, and others."
Hanoun pointed out that "the exhibition will last for 10 days, starting today and ending on the 19th of this month," stressing, "We seek through this exhibition to establish real partnerships between the Iraqi and international private sectors." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 What have the articles been telling us? That the Iraqi dinar and the American dollar are divorcing by mechanisms...It's causing the American dollar to go down...just in one week 150 to 140 to... 135. The value of the Iraqi dinar is going up as the American dollar inside of Iraq is being put away...it's not in the picture anymore.
Mnt Goat Article: "SUDANESE ADVISOR: EXCHANGE RATES WILL REACH 135 THOUSAND PER 100 DOLLARS SOON" If this really does happen we will be in great shape to see the one more program rate change we have been waiting for. But remember they will probably wait and monitor the rate to ensure it is first stable, How long we don’t know. But this is fantastic news today.
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TNT:
Tishwash: Source: Al-Sudani travels to Switzerland for the Economic Forum and to meet with Blinken
An informed source revealed, today, Wednesday, that Iraqi Prime Minister Muhammad Shiaa Al-Sudani intends to travel to Switzerland, next week, to attend the annual meeting of the World Economic Forum 2024, which will be held in the Swiss city of Davos-Klosters, from January 15 to 19. The second one is ongoing.
The source added to Al-Mustaqila that Al-Sudani will be accompanied by a high-level delegation of ministers and the governor of the Central Bank, with the aim of holding meetings with Swiss banks and discussing ways to enhance economic cooperation between the two countries.
Al-Sudani will also meet US Secretary of State, Anthony Blinken, to discuss bilateral relations between Iraq and the United States, and regional issues.
The annual meeting of the World Economic Forum is considered one of the most important global economic events, in which the most prominent world leaders, businessmen and policy makers participate, to discuss the most important global economic, political and security issues.
Al-Sudani's visit to Switzerland comes within the framework of Iraq's efforts to strengthen economic and political relations with countries around the world and attract foreign investments. link
2024 BANKS IN TROUBLE: Sharp Surge In Bad Loans Reported By Largest US Banks
Lena Petrova: 1-10-2024
Stocks Will Still Crash 50% In This Economy, Here’s Why | Todd Horwitz
David Lin: 1-10-2024
Todd Horwitz, chief market strategist of Bubba Trading.com, gives his outlook for the economy, stocks, and commodities for 2024.
0:00 - Intro
1:30 - Market performance
5:00 - Fed pivot
7:20 - Market correction
8:55 – Commodities
12:10 – Inflation
14:40 - Economy’s problems
15:50 - Oil
18:30 - DXY
19:22 - Labor market
21:38 - Geopolitical risks