Goldilocks' Comments and Global Economic News Thursday Evening 2-1-24
Goldilocks' Comments and Global Economic News Thursday Evening 2-1-24
Good Evening Dinar Recaps,
This week, history was made. When Saudi Arabia joined the BRICS System, we began the process of moving from a Petro Dollar to a Digital Dollar economy.
© Goldilocks
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"Cross-border data flows” refer to the movement or transfer of information between servers across country borders"
EU and Japan sign for a Economic Partnership between their countries. This will allow data flows of information in the new digital economy to proceed between them.
Data governance and cross-border data flows are important to the development of digitalisation between these two largest digital economies in the world.
Once this agreement has been ratified by Japan, they can move forward with their economic partnership in the new digital economy. This agreement marks one of the first economic partnerships to move forward onto the new digital asset based trading system. Consilium Europa
© Goldilocks
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Goldilocks' Comments and Global Economic News Thursday Evening 2-1-24
Good Evening Dinar Recaps,
This week, history was made. When Saudi Arabia joined the BRICS System, we began the process of moving from a Petro Dollar to a Digital Dollar economy.
© Goldilocks
~~~~~~~~~~
"Cross-border data flows” refer to the movement or transfer of information between servers across country borders"
EU and Japan sign for a Economic Partnership between their countries. This will allow data flows of information in the new digital economy to proceed between them.
Data governance and cross-border data flows are important to the development of digitalisation between these two largest digital economies in the world.
Once this agreement has been ratified by Japan, they can move forward with their economic partnership in the new digital economy. This agreement marks one of the first economic partnerships to move forward onto the new digital asset based trading system. Consilium Europa
© Goldilocks
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Iraqi Banking Announcement:
Currently, Iraq is appointing people into leadership positions to run their electronic payment companies. https://cbi.iq/news/view/2510
© Goldilocks
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"CFTC’s Energy and Environmental Markets Advisory Committee to Meet February 13, 2024"
The Energy and Environmental Markets Advisory Committee (EEMAC) is meeting with the Commodities Futures Trading Commission on the role rare Earth minerals are going to play in our new digital economy.
A part of this meeting deals with Basel 3 requirements in attaching these Rare Earth minerals and other commodities to new tokenized assets that will come into play during Protocol 20s roll out of Quantum Technologies on February the 20th, 2024.
This comes just in time before the March 11th, 2024 when the old Financial money lending of money gives way to tokenized assets backed by real world values (Gold) to begin paving the way to our new economy.
These rare Earth minerals will synchronize price selections and values based upon the pressures our new economy will take on during this transition of our stock markets into tokenized assets.
Commodities will serve as a hedge for the stocks going one direction as the commodity markets go the other creating a bridge into a new economy. The more these stocks put pressures on the Commodities that back them as a tokenized asset will serve to give us new adjusted prices based upon a real value going forward.
When you combine these two assets together such as the stock markets and the commodity markets, they become the igniting catalyst into a fire that will spur both into growth potentials neither one of them could do alone.
Is a smooth transition into the new economy becoming possible? It's looking that way. Time will tell.
Don't get me wrong. Volatility is expected, but the interfacing of the commodity market with the stock market will certainly provide us a path forward through utilizing the unique directions both of these will be going because of where we are in our Global Market Cycles. CFTC
© Goldilocks
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"BRICS overtakes G7 in terms of share in global GDP in PPP terms. As new members join the economic bloc, it is expected to lead more than 40% of global crude oil production."
Going forward, this will have a profound effect on the use of the Petro dollar in foreign trade. It will open up opportunities for currencies in the East to be utilized instead of the dollar creating demand for their use and growth potential.
As the year goes on, we will be experiencing many changes in the global markets that will affect our tokenized assets backed by commodities under the new requirements of Basel 3.
In turn, this will engage new growth potentials across all sectors of our Global Markets. Forex is one of those sectors of our Global markets.
Resetting and reconnecting our Global Markets to our new digital banking system will begin to show new Market chart patterns that are aligning themselves with new digital assets inside our new Basel 3 economy. English Al Mayadeen
© Goldilocks
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Standard Chartered Bank expects the SEC to approve spot Ethereum ETFs on May 23.
The bank predicts a potential $4,000 target for ETH if it mimics BTC’s pre-approval performance.
The Block
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Token.io Becomes Participant in SEPA Payment Account Access (SPAA) Schem
January 28, 2024 @ 9:19 pm By Omar Faridi
Account-to-account (A2A) payment infrastructure provider, Token.io, has announced it has become an official participant in the SEPA Payment Account Access (SPAA) scheme: a commercial API initiative that will enable greater innovation and unlock wider adoption of A2A payments in Europe.
Through leveraging open banking and instant payments, the SPAA scheme will directly support the establishment of “a competitive pan-European payment solution, which is a key pillar of the retail payment strategies of both the European Commission (EC) and European Central Bank (ECB).
Crowd Fund Insider
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As we kick off 2024, the focus on the unavailability of certain benchmarks continues on. To refresh, we have already seen the benchmark for US Dollars generally replaced with the Secured Overnight Financing rate as administered by the Federal Reserve Bank of New York, Sterling replaced with the Sterling Overnight Index Average as administered by the Bank of England and Swiss Francs replaced with the Swiss Average Rate Overnight as administered by the SIX Swiss Exchange AG. Looking ahead, we expect to see the cessation of additional benchmarks including, but not limited to, the Canadian Dollar Offered Rate (“CDOR”) and Singapore Interbank Offered Rates (“SIBOR”). JD Supra
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Message from Isaac Today
Hello, hope all good the cc is today and I will post as soon as I have the info , but definitely today.. Isaac on Telegram
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IIAs are international treaties between two or more countries. They protect investors from one country (the investor’s home country) from unlawful interference with their investments in the other country (the host country).
The main purpose of these treaties is to mitigate political and legal risks associated with investing abroad by giving the investor the possibility to sue countries before impartial international arbitration tribunals.
IIAs could take the form of a bilateral investment treaty (BIT) between two countries, or they could be part of wider free trade agreement, such as Chapter 14 of the United States-Mexico-Canada Agreement (USMCA) or Chapter 11 of the North American Free Trade Agreement (NAFTA).
Investment treaty protections and the dispute settlement mechanisms they contain are only available to qualifying investors and investments. JD Supra
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Russia makes ditching the US dollar a top priority in 2024 - What a star-studded meeting!! | Cryptopolitan
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Chainlink (LINK) Set to Connect Billions of People and Companies in Tokenization Market | CryptoNewsFlash
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Digital Assets Association launches to connect tradfi and tokenised real world assets | The Edge Singapore
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RIPPLE XRP🚨IT'S FINALLY GETTING APPROVED!🚨BRICS NEW FINANCIAL SYSTEM INCOMING | https://youtu.be/43aXwPFFZ1U?feature=shared
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Institutions Are About To Create MASSIVE DEMAND For XRP! AMM & Clawback Changes EVERYTHING For XRPL! | https://youtu.be/dwqtai2zO_s?feature=shared
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I will write about the changes coming to XRP tomorrow. You do not want to miss it.
© Goldilocks
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Economist's "News and Views" Thursday 2-1-2024
Here’s Why a Financial Crisis As Early as April is in the Cards
Lynette Zang & Daniela Cambone: 2-1-2024
Daniela Cambone engages with Lynette Zang, Chief Market Analyst at ITM Trading, in a recent conversation and covers various crucial topics including inflation, U.S. debt, the pitfalls of private equity scams, Central Bank Digital Currency (CBDC), and strategies for investors to safeguard their wealth.
Zang issues a stark warning about the impending adverse impacts on people's lives as the U.S. economy becomes increasingly entangled in escalating treasury debt.
“Just lowering the interest rates, even lowering them back to zero, isn't gonna help. It's not gonna help all that massive amount of debt. I think we could see some level of crisis by this Spring,” Zang asserts.
Here’s Why a Financial Crisis As Early as April is in the Cards
Lynette Zang & Daniela Cambone: 2-1-2024
Daniela Cambone engages with Lynette Zang, Chief Market Analyst at ITM Trading, in a recent conversation and covers various crucial topics including inflation, U.S. debt, the pitfalls of private equity scams, Central Bank Digital Currency (CBDC), and strategies for investors to safeguard their wealth.
Zang issues a stark warning about the impending adverse impacts on people's lives as the U.S. economy becomes increasingly entangled in escalating treasury debt.
“Just lowering the interest rates, even lowering them back to zero, isn't gonna help. It's not gonna help all that massive amount of debt. I think we could see some level of crisis by this Spring,” Zang asserts.
She highlights a recent surge in the velocity of money, attributing it to the public's fear of the U.S. dollar losing value. “They’re rushing to spend it… indicates that for me the beginning of the hyperinflation.”
She also discusses the risks in private equity and the potential trigger for the next financial crisis. Zang emphasizes the importance of community and maintaining hope as essential to navigate these challenging times.
CHAPTERS:
0:00 US economy
6:10 Hyper-inflation
8:52 Milei Davos
10:29 The Great Taking
13:24 U.S. debt
16:32 U.S. stocks
18:10 Treasury debt
19:25 Private equity scam
23:30 Job cuts
25:15 Question for Lynette
31:11 CBDC
32:15 Strategy
LIVE! BANKS TROUBLES ARE WORSENING FASTER! Bigger CRACKS Forming In The Financial System.
Greg Mannarino: 2-1-2024
BRICS+ MOSCOW MEETING RESULTS: UAE, Saudi Arabia, Iran, Egypt & Ethiopia Join To Discuss Strategy
Lena Petrova: 2-1-2024
Using Trading Platforms for RV/GCR Bonds and Currencies Explained : Awake-In-3D
Using Trading Platforms for RV/GCR Bonds and Currencies Explained
On January 31, 2024 By Awake-In-3D
In RV/GCR
If you have been around RV/GCR Land for even a short time, it is likely that you have heard the term Platform Trade, or Trading Platforms frequently mentioned. Yet they are never adequately explained regarding their role in the RV/GCR.
This article will get you up to speed.
Private Trading Platforms are a real thing in global finance. Most are not advertised, do not have websites and operate by word-of-mouth between connected businesses and individuals. One cannot get into a PTP by applying as participants are typically approached by private invitation.
I have had the pleasure (and luck) to meet several folks at various levels of PTPs over the years. Yet it’s like the iconic movie where “the first rule of Fight Club is you don’t talk about Fight Club.”
Using Trading Platforms for RV/GCR Bonds and Currencies Explained
On January 31, 2024 By Awake-In-3D
In RV/GCR
If you have been around RV/GCR Land for even a short time, it is likely that you have heard the term Platform Trade, or Trading Platforms frequently mentioned. Yet they are never adequately explained regarding their role in the RV/GCR.
This article will get you up to speed.
Private Trading Platforms are a real thing in global finance. Most are not advertised, do not have websites and operate by word-of-mouth between connected businesses and individuals. One cannot get into a PTP by applying as participants are typically approached by private invitation.
I have had the pleasure (and luck) to meet several folks at various levels of PTPs over the years. Yet it’s like the iconic movie where “the first rule of Fight Club is you don’t talk about Fight Club.”
Yet in the world of the wealthy and connected, private hard assets like fine art, precious metals and rare antiquities are placed into PTPs where they are hypothecated and rehypothecated for substantial financial leverage, arbitrage for various purposes such as raising business capital and even funding economic development or humanitarian projects.
What Exactly are Private Trading Platforms?
PTPs are specialized investment platforms that cater to the trading of a broad spectrum of assets outside the public markets.
These platforms predominantly focus on hard assets, which include tangible assets like real estate, precious metals such as gold and silver, gemstones, fine art, and other physical goods with intrinsic value.
The primary role of PTPs is to offer a secure, regulated space for high-net-worth individuals, institutional investors, and sometimes smaller investors with access, to invest in, sell, or trade these assets.
They provide a level of privacy and exclusivity not commonly found in public markets, thus presenting opportunities for higher returns due to the unique nature of the assets and less volatility compared to mainstream markets.
PTPs leverage their extensive networks, expertise, and exclusive deals to present unique investment opportunities. They often set certain criteria for participants, like minimum investment thresholds, to ensure that all investors are financially robust and comprehend the risks involved in these types of investments.
Access to these platforms is typically limited to investors who meet specific financial qualifications, allowing them to tap into a variety of hard assets and rare or unique investment opportunities not found in traditional markets.
Additionally, PTPs play a crucial role in matching sellers with buyers, facilitating transactions, providing valuation services, and sometimes offering safe storage solutions for the physical assets traded.
The Critical Role of Hypothecation and Rehypothecation in PTPs
When discussing hypothecation and rehypothecation within PTPs, it’s important to understand these as financial processes crucial to the platforms, especially concerning hard assets and securities lending.
Hypothecation happens when an investor pledges collateral (an asset) to secure a debt while maintaining ownership of the collateral, giving the lender the right to seize the asset if the loan isn’t repaid as agreed.
This allows asset owners to gain liquidity without selling, potentially leveraging it for further investments.
Rehypothecation goes a step further by allowing the lender or a financial intermediary to use the pledged collateral (the asset) for its own purposes, like securing its borrowing or obligations.
This process can enhance liquidity and trading efficiency in hard assets by allowing these assets to fulfill multiple financial roles simultaneously.
What Trading Platforms Do
For individuals or entities with valuable physical goods, placing a hard asset into a PTP offers numerous advantages.
It provides an opportunity to leverage these assets as collateral for loans or financing, thus gaining liquidity without selling the asset.
This can be especially appealing for assets anticipated to appreciate or those with sentimental value.
PTPs grant access to unique or exclusive investment opportunities unavailable to the general public, potentially yielding higher returns. They also facilitate the secure and regulated selling or trading of hard assets, reaching a broader audience of buyers or investors than possible through traditional markets.
Moreover, many PTPs provide secure storage solutions for physical assets (such as Safe Keeping Receipts or SKRs), mitigating the risk of theft or damage while the asset is held or traded.
In summary, by placing a hard asset into a PTP, individuals or entities not only secure liquidity but also access a suite of services and opportunities designed to maximize the value and utility of their assets.
It represents a strategic opportunity to enhance potential returns and offer financial flexibility, without the need to sell the asset outright.
How Private Trading Platforms Work
Leveraging hard assets, particularly those anticipated to appreciate significantly over time, in a Private Trading Platform (PTP) is a strategy that involves using these assets as collateral to secure financing or loans. This process allows for the potential appreciation of the asset while maintaining ownership.
Let’s take an an in-depth look at how this process unfolds.
© 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/the-use-of-trading-platforms-for-rv-gcr-bonds-and-currencies-explained/
Please go to Part 2 and Part 3 for the rest of the article.
Part 2: https://ai3d.blog/how-private-trading-platforms-work-a-simple-example/
Part 3: https://ai3d.blog/how-trading-platforms-apply-to-rv-gcr-redemptions-and-exchanges/
More News, Rumors and Opinions Thursday Afternoon 2-1-2024
The Yorkshire Lass
With the news about Evergrande’s liquidation tells me that the Iraqi Dinar can confirm its exchange rate. Reports have been coming out that talks on ending US military presence in Iraq has begun with around 2,500 American soldiers still in Iraq.
This could soon come to end. Iraq said last year it was to ditch the US Dollar and trade in their own currency. The Iraqi Dinar exchange rate is what BRICS is waiting for.
BRICS isn’t waiting for Iraq to join them. They just want their currency acknowledged on the FOREX and for Iraq to thrive.
BRICS is coming together to collapse the US Dollar. This is exactly why the West is trying to start a war in the Middle East. They know what’s coming. Sound familiar?
A new era is coming and it’s called the Gold Standard.
The Yorkshire Lass
With the news about Evergrande’s liquidation tells me that the Iraqi Dinar can confirm its exchange rate. Reports have been coming out that talks on ending US military presence in Iraq has begun with around 2,500 American soldiers still in Iraq.
This could soon come to end. Iraq said last year it was to ditch the US Dollar and trade in their own currency. The Iraqi Dinar exchange rate is what BRICS is waiting for.
BRICS isn’t waiting for Iraq to join them. They just want their currency acknowledged on the FOREX and for Iraq to thrive.
BRICS is coming together to collapse the US Dollar. This is exactly why the West is trying to start a war in the Middle East. They know what’s coming. Sound familiar?
A new era is coming and it’s called the Gold Standard.
Ariel: Quick Update – J.P. Morgan Selected to Run New Trade Bank in Iraq
Operating the bank the Trade Bank of Iraq will give banks access to the financial system of Iraq. Which has huge oil reserves foreign bank companies have not operated in the country since a policy of nationalization in the 1950’s and 1960’s.
What this means is that once Iraq join the Forex market, facilitated by increased foreign banking participation, it could potentially lead to a more streamlined process for currency exchanges.
This could benefit individuals holding IQD in America, providing them with more accessible channels for converting IQD into USD.
Since JP Morgan Chase is the leading bank. Iraq’s engagement with Western banks, facilitated by J.P. Morgan, will contribute to its increased integration into the global economy.
This integration’s positive effects on currency exchange mechanisms, will make it more seamless for individuals holding IQD. Iraq’s oil reserves make it an attractive market.
J.P. Morgan’s role could pave the way for Western banks to participate in financing projects related to Iraq’s oil industry and other sectors, fostering economic growth. Which will assist with the Oil & Gas Law/HCL. Which the citizens have been asking for.
Western banks, including J.P. Morgan, could provide financial support for the development of oil infrastructure projects in Iraq. This could include funding for exploration, drilling, production facilities, and transportation infrastructure.
So this development for Iraq is very important. I mean a report came out that 235 ATMs to be installed in Erbil. The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically.
About 80 service centers will be installed in Erbil to accommodate approximately 235 ATMs from various banks. This is monumental considering what Al-Alaq stated in regards to the monetary reform and the parallel market they he said would end very soon. Which implies there will only be one exchange rate. The black market rate will fade away. Which will give Iraqis purchasing power.
5:28 PM · Jan 31, 2024
https://dinarchronicles.com/2024/01/31/ariel-prolotario1-jpmorgan-to-run-new-trade-bank-in-iraq/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Iraqi Bank Friend Aki update] This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens...Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
tlm724 Article: "The Bank Of Jordan Links Iraq Through An Electronic System With Four Arab Countries" Quotes: "...Iraq is linked to an electronic system with four Arab countries, while indicating that the Central Bank is making great efforts to develop the banking sector in Iraq."; “...and I believe that they are moving at a very good speed to shorten the time gap, to reach the ranks of developed countries with these services.”
U.S. Debt Crisis Signals HISTORIC COLLAPSE with John Rubino
The U.S. debt crisis has never been worse and signals a historic financial collapse. John Rubino, Macro-Analyst and Co-Author of The Money Bubble, provides information on what we should expect in the coming months and years ahead.
"Tidbits From TNT" Thursday 2-1-2024
TNT:
Tishwash: Saleh: The financial situation in Iraq is stable and good
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed on Thursday that the financial situation in Iraq is stable and good, in light of expectations of increased demand for oil globally.
Saleh said in a press statement, “The federal general budget for the year 2024 remains stable, with an expenditure ceiling of approximately 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total expenditure ceiling, and oil exports are stable at their set rates of approximately 3.4 million
.” A barrel of oil per day, at a barrel price for the purposes of calculating budget revenues from exported oil of $70 per barrel,” pointing out that “oil market indicators are still more than the price specified in the budget by more than 10% until the moment.”
TNT:
Tishwash: Saleh: The financial situation in Iraq is stable and good
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed on Thursday that the financial situation in Iraq is stable and good, in light of expectations of increased demand for oil globally.
Saleh said in a press statement, “The federal general budget for the year 2024 remains stable, with an expenditure ceiling of approximately 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total expenditure ceiling, and oil exports are stable at their set rates of approximately 3.4 million
.” A barrel of oil per day, at a barrel price for the purposes of calculating budget revenues from exported oil of $70 per barrel,” pointing out that “oil market indicators are still more than the price specified in the budget by more than 10% until the moment.”
He added, "Energy market expectations lead to an increase in the needs of continued demand for crude oil in general," noting that "the future outlook on Iraq's financial situation is stable."
He pointed out that "there is high stability as we enter the second month of the current year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and sound." link
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CandyKisses: Al-Hakim informs Blackschaert: We support negotiations to end the tasks of the international coalition in Iraq
Baghdad today - Baghdad
Today, Thursday (February 1, 2024), the head of the Iraqi State Forces Alliance, Ammar al-Hakim, confirmed his support for negotiations to end the tasks of the international coalition in Iraq, while calling on the international community to assume its responsibilities towards the Gaza crisis.
Al-Hakim said in a statement received by "Baghdad Today", "We met this morning with the representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert," noting that "the meeting reviewed the political developments in Iraq and the region and the inter-relationship between Iraq and the United Nations."
Al-Hakim added, "The meeting stressed the importance of moving to the stage of bilateral partnerships with the international organization after Iraq has overcome most of the challenges at the internal and external levels," explaining, "We also stressed preserving the stability achieved through the sacrifices of Iraqis from all components."
The meeting stressed "the importance of the upcoming provincial councils and local governments to enhance stability and sustain the wheel of reconstruction and development, and we expressed our full support for the Iraqi government in managing negotiations with the international coalition to confront terrorism to end its tasks and move to the stage of bilateral relations to serve both sides."
Al-Hakim concluded the statement by saying, "We called on the international community to shoulder its responsibilities towards the Gaza crisis, and we said that silence towards the genocide of an unarmed people represents a flagrant targeting of international values, principles and laws, and We called for stopping the war and bringing in aid and relief for the displaced who are spreading the ground in this bitter cold."
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Tishwash: Which is more dangerous for Iraq: bombing American bases or selling oil for anything other than the dollar?
Today, Thursday (February 1, 2024), economic affairs expert Nabil Al-Marsoumi raised a question about the greatest danger facing Iraq, and whether it lies in the American bombing or selling oil in a currency other than the dollar?
Al-Marsoumi says in a blog post followed by “Baghdad Today” that, “In 1973, King Faisal of Saudi Arabia agreed to accept the dollar as the sole currency to buy oil in exchange for America providing military protection for Saudi oil fields. In 1975, the other OPEC countries agreed to price oil in dollars only, and they succeeded.” With this deal, America links the dollar to oil instead of gold.”
Dollar instead of gold
The economic expert explained, “This deal forced all oil-importing countries to create a fixed supply of dollars to buy oil,” adding, “Therefore, these countries were forced to export goods to America, and in return, America provides them with dollars that will only cost them the cost of printing them.”
Al-Marsoumi added, "From here, a new system began to maintain American hegemony over the global financial system, and its name is the petro-dollar," noting that "dollars leave America and anything America needs comes to it, and as a result, the United States has become very rich."
He pointed out that "this process did not lead to inflation because the countries of the world are in constant need of dollars to buy oil and participate in international trade. Therefore, those dollars remained outside America, and after linking the dollar to oil, America was able to spend more money on its military forces, which became the first in the world." .
Al-Marsoumi continued, “In 2000, Iraq announced the beginning of linking Iraqi oil sales to the euro instead of the dollar, which, along with other factors, prompted the United States to overthrow Saddam Hussein’s regime by military force,” noting that “in 2011, Muammar Gaddafi tried to create a gold currency in Africa called the dinar.” Al-Dhahabi succeeded in forming a bloc of African countries, but the Americans overthrew the Libyan regime and killed Gaddafi because selling a country, even a small one, of its oil for something other than the dollar would cause the dollar’s strength to destabilize.”
Oil supports the dollar
He stated that "currently there is nothing that supports the dollar except oil, and that America will not hesitate to use its military power to crush any threat to the dollar, and that linking oil to the dollar and preserving it for the longest time is an American priority," indicating that "the price of oil in dollars is not only linked to standard oil crudes." Which are priced in dollars, namely Brent crude and West Texas crude, but because oil trade is the largest in the world, as it is not limited to the exchange of oil in commodity markets only, but also because there is a very large trade in paper barrels amounting to more than tens of times the real exchange, especially on the New York Stock Exchange and the London Stock Exchange. Through speculation in futures contracts, as the New York Stock Exchange deals with about 3 billion contracts annually, with an average value of 1,000 trillion dollars.”
He noted that "the calls to sell Iraqi oil in a currency other than the dollar lack realism and reflect a wrong understanding of the basics of oil pricing in the global market, and because it will expose Iraq to very violent American reactions, because abandoning the dollar is an American red line, as it will threaten the global position of the dollar, which currently constitutes 60 percent." % of global monetary reserves and will undermine the economic importance of the United States at the global level.
After the exacerbation of the dollar crisis and the sanctions imposed by Washington on a number of Iraqi banks, the country is seeking to move to a new stage of monetary transactions, sometimes oil in exchange for goods and other times purchasing in the currency of the countries exporting those goods, including the yen, the currency of China. link
Mot: ... Tah Dah!!! -- and Here We Are!!!!
Mot: .. Its Cold Season - Sooo Remember when ~~~~
Goldilocks' Comments and Global Economic News Late Wednesday Evening 1-31-24
Goldilocks' Comments and Global Economic News Late Wednesday Evening 1-31-24
Good Evening Dinar Recaps,
Saudi Arabia Officially Becomes a BRICS Member
During its 2023 annual summit, it announced its first expansion effort since 2001, when it introduced South Africa. Specifically, the alliance had invited six different countries from across the globe. 1 hour ago Watcher Guru
👆Uh Oh Dollar
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US Fed Meet Live Updates: Powell-led FOMC keeps key rates unchanged at 5.25-5.50% for 4th straight meeting.
Jerome Powell
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Goldilocks' Comments and Global Economic News Late Wednesday Evening 1-31-24
Good Evening Dinar Recaps,
Saudi Arabia Officially Becomes a BRICS Member
During its 2023 annual summit, it announced its first expansion effort since 2001, when it introduced South Africa. Specifically, the alliance had invited six different countries from across the globe. 1 hour ago Watcher Guru
👆Uh Oh Dollar
~~~~~~~~~~
US Fed Meet Live Updates: Powell-led FOMC keeps key rates unchanged at 5.25-5.50% for 4th straight meeting.
Jerome Powell
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This week, history was made. When Saudi Arabia joined the BRICS System, we began the process of moving from a Petro Dollar to a Digital Dollar economy.
© Goldilocks
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FOMC Press Conference January 31, 2024
https://www.youtube.com/live/poHpPUUOfkg?feature=shared
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News, Rumors and Opinions Thursday AM 2-1-2024
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. 1 Feb. 2024
Compiled Thurs. 1 Feb. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 31 Jan. Wolverine: “Spoke to Charlie today and he is very, very and very happy. I can’t say anything, but I wanted you to know that God has heard our prayers and God is working. We will be celebrating soon. On Sun. 28 Jan. on a radio broadcast in Colombia a Pentecostal Group Leader said he was distributing funds to members. This group was the lynchpin to start the bond payments. It has more than 3 million members. It has happened. That leader has about 80 thousand members, and it has started guys.”
Mon. 29 Jan. High Up Source: “The RV started today Mon. 29 Jan. at 4 pm. Everything is going.”
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. 1 Feb. 2024
Compiled Thurs. 1 Feb. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Wed. 31 Jan. Wolverine: “Spoke to Charlie today and he is very, very and very happy. I can’t say anything, but I wanted you to know that God has heard our prayers and God is working. We will be celebrating soon. On Sun. 28 Jan. on a radio broadcast in Colombia a Pentecostal Group Leader said he was distributing funds to members. This group was the lynchpin to start the bond payments. It has more than 3 million members. It has happened. That leader has about 80 thousand members, and it has started guys.”
Mon. 29 Jan. High Up Source: “The RV started today Mon. 29 Jan. at 4 pm. Everything is going.”
Tues. 30 Jan. Bruce: Wells Fargo sources said Tier4b (us, the Internet Group) could be notified at any time.
Mon. 29 Jan. Mark Z: “A number of my bond contacts are now under NDAs. We are getting a number of reports from credible people that they are also under an NDA and very aware they are about to see a massive change because of revaluations.
Tues. 30 Jan. Jon Dowling Breaking News: the BRICS Alliance has now overtaken the G7 in terms of the share of the global GDP. BRICS now comprises 35% of the total world’s GDP. Thirty more nations are lined up to join shortly.
Global Financial Crash:
Wed. 31 Jan. New York Community Bancorp stock crashes, trading halted.
Wed. 31 Jan. Saudi Arabia has officially joined BRICS. This could be the nail in the coffin. The dollar is toast. Plan accordingly. SA a priority. “Even though the Bretton Woods agreement collapsed in the 1970s, the US dollar’s central role was reinforced when Saudi Arabia signed a deal with the United States to only export oil in dollars. If Saudi Arabia joins BRICS and begins exporting oil in the new BRICS-sponsored currency, the role of the US dollar as the premier global currency would be undermined. Half a century on from the 1970s deal, Saudi Arabia is much less dependent on the United States than it once was.” https://brownpoliticalreview.org/2023/05/dark-days-for-the-petrodollar/ https://twitter.com/BRICSinfo/status/1752721358297960732?t=WFpnrvb1CUNtagjN2FXnUw&s=19
Wed. 31 Jan. Iran has officially joined BRICS just a few days after Joe Biden promised to attack them. Iran is officially in an economic and business relationship with Russia just by joining BRICS. New Alliances are here. An attack on Iran will mean an attack on Russia. …Holly
Wed. 31 Jan. Johannesburg(Reuters): Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year, South Africa’s Foreign Minister Naledi Pandor said on Wednesday. The five countries were extended invitations along with Argentina at a summit in August in Johannesburg to join the bloc comprising Brazil, Russia, China, India and South Africa. Members say the move would help reshuffle a world order they view as outdated. https://www.reuters.com/world/brics-poised-invite-new-members-join-bloc-sources-2023-08-24/ https://www.reuters.com/world/south-africa-says-five-countries-confirm-they-are-joining-brics-2024-01-31/
Wed. 31 Jan. NY Community Bancorp Shares Tumble. The bank took over Signature Bank’s non crypto related deposits last year: https://www.coindesk.com/business/2024/01/31/new-york-community-bancorp-shares-tumble-after-earnings-miss-71-dividend-cut/
Wed. 31 Jan. Australia: NAB Bank is a major bank that will close dozens of branches across Australia: https://www.9news.com.au/national/nab-bank-major-bank-to-close-dozens-of-branches-across-australia/8a20ce98-6da7-479a-87f3-200769eca80a
Wed. 31 Jan. Hong Kong: NAB Australia Shuts Hong Kong Office: https://finews.asia/finance/40031-nab-shuts-hong-kong-office
Wed. 31 Jan. Gold Demand to Hit Record With Central-Bank Buying, WGC Says – Bloomberg: https://www.bloomberg.com/news/articles/2024-01-31/gold-demand-to-hit-record-with-central-bank-buying-wgc-says
Gold Demand Hits Record: https://finance.yahoo.com/news/gold-demand-hit-record-central-060000755.html
Read full post here: https://dinarchronicles.com/2024/02/01/restored-republic-via-a-gcr-update-as-of-february-1-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Paulette The issue I still see is in order to peg to a basket of currencies, they would "officially" have to depeg from the USD. While I have yet to see the US relinquish their receivership status over Iraq and the fact that the US is desperate to try to keep the USD propped up, I am unsure the actual mechanism of how they will be allowed to depeg and then repeg. It seems like receivership would need lifted first for that kind of move.
Frank26 [Georgia Bank Story FOLLOWUP from 1-30-2024 below] BANK VISITOR: The following day Saturday I got a phone call from Truist [Bank]...a wealth manager...She set up an appointment this Thursday to meet with me...The funny thing about this Frank is this account is a petty cash account. I don't keep any money in this account. FRANK: But they know you will soon. BANK VISITOR: My wife said that's not a coincidence. You go and speak to somebody and it's a petty cash account... Why would a wealth manager be calling you? FRANK: It's obvious they are getting ready for you... [Stay tuned for the follow up of his Thursday appointment.]
Moving way from the dollar
Nader: 2-1-2024
A statement | The US Treasury Department is still using the pretext of money laundering to impose its sanctions against Iraqi banks, which requires a stance.
Nationally puts an end to these arbitrary decisions. Imposing sanctions on Iraqi banks would undermine and impede the steps taken by the Central Bank to adjust Stabilizing the dollar exchange rate and reducing the selling gap between the price Formal and parallel.
While we reject these practices, due to their repercussions and consequences on the livelihood of our citizens, we renew our call on the government and the Central Bank of Iraq to take rapid measures to get rid of the dominance of the dollar by diversifying our cash reserves from foreign currencies.
We,also_propose obliging the Ministry of Oil to sell Iraqi oil in currencies Other foreign.
Economic Thoughts From Andy Schectman, Robert Kiyosaki and Lynette Zang 1-31-2024
What Do These Billionaire CEOs See Coming? | Andy Schectman
Liberty and Finance: 1-30-2024
Numerous CEOs of major companies are dumping massive amounts of their companies stocks. "Why are they all selling?
What do they know is coming?" asks Andy Schectman, CEO & president of Miles Franklin Precious Metal Investments.
The precious metal markets have been "eerily quiet," he says.
But given new developments toward dedollarization and the precarious US debt situation, we may be experiencing "the calm before the storm,” as wealthy individuals, funds, and central banks quietly take physical possession.
What Do These Billionaire CEOs See Coming? | Andy Schectman
Liberty and Finance: 1-30-2024
Numerous CEOs of major companies are dumping massive amounts of their companies stocks. "Why are they all selling?
What do they know is coming?" asks Andy Schectman, CEO & president of Miles Franklin Precious Metal Investments.
The precious metal markets have been "eerily quiet," he says.
But given new developments toward dedollarization and the precarious US debt situation, we may be experiencing "the calm before the storm,” as wealthy individuals, funds, and central banks quietly take physical possession.
The Truth About Inflation and its Impact on Your Wealth - Robert Kiyosaki, Lynette Zang
The Rich dad channel: 1-31-2024
In this episode, host Robert Kiyosaki welcomes Lynette Zang, a renowned expert in precious metals and a keen observer of currency lifecycles, to explore the intricate world of money, inflation, and the enduring value of precious metals.
This episode offers a deep dive into the mechanisms that drive the financial world and strategies for preserving wealth.
Robert Kiyosaki, best known for his groundbreaking book "Rich Dad Poor Dad," sets the stage for an enlightening discussion, where Lynette Zang brings her extensive knowledge to the forefront.
The conversation begins with an explanation of currency lifecycles, a concept that Zang parallels with the stages of human life, providing an intuitive understanding of how currencies evolve and depreciate over time.
Zang elaborates on the phenomenon of hyperinflation, a critical topic given the current global economic climate. She illustrates how hyperinflation impacts economies, individuals, and the value of money.
This part of the discussion is particularly insightful for viewers seeking to understand the broader economic forces that can affect their financial well-being.
The focus then shifts to the realm of numismatic coins. Zang, with her expertise, sheds light on how these coins play a unique role in wealth preservation.
This segment is an eye-opener for collectors and investors alike, highlighting the significance of numismatics in the context of financial security and asset diversification.
Kiyosaki and Zang discuss why these precious metals are considered 'real money' and how they can protect against the devaluation of fiat currencies.
This segment is particularly valuable for viewers interested in alternative investment strategies and the historical role of precious metals in the economy. In her practical approach, Zang offers actionable advice on financial preparedness
She emphasizes the importance of diversifying one’s portfolio beyond traditional stocks and bonds, giving practical tips that viewers can apply to their financial planning. The episode also covers the role of central banks and governments in currency valuation, providing insights into the actions and policies that shape the global financial landscape.
The future of the US dollar is critically examined in light of global economic changes, offering predictions and analyses that are crucial for anyone concerned about the stability of their currency.
Towards the end, Zang shares her personal financial strategies, including the intriguing concept of a 'bug out house,' a reflection of her comprehensive approach to financial security and preparedness.
00:00: Introduction
01:20: Currency Lifecycle - Explaining currency life cycles
05:50: Hyperinflation and its Impact - Discussion on hyperinflation
09:30: Numismatic Coins - Insights on numismatic coins
14:10: Gold and Silver - The importance of gold and silver
18:50: Financial Preparedness - Tips for financial security
23:30: Role of Central Banks and Governments
28:40: Future of the Dollar
33:20: Lynette Zang's financial strategies
More News, Rumors and Opinions Wednesday Afternoon 1-31-2024
KTFA:
Clare: Central Bank Governor: We prevented banks and companies from obtaining the dollar... and work on the electronic platform will end during the current year
1/31/2024
The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”
Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”
He added: "The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar."
KTFA:
Clare: Central Bank Governor: We prevented banks and companies from obtaining the dollar... and work on the electronic platform will end during the current year
1/31/2024
The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”
Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”
He added: "The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar."
Al-Alaq continued: “The US Treasury praised the Central Bank’s provisions for banks, which included conditions and standards for external transfers and the opening of accounts with internationally accredited foreign banks,” denying the issuance of decisions by the US Treasury to punish a number of Iraqi banks with the exception of Al-Huda Bank and the Chairman of its Board of Directors. LINK
Clare: Al-Sudani sponsors the signing of the contract for the “Ali Al-Wardi” city project
1/31/2024
Today, Wednesday, the contract for the new Ali al-Wardi residential city project was signed by the Minister of Housing, Construction and Municipalities, with the director of ORA Real Estate Development Company, Naguib Sawiris.
The Prime Minister indicated, during the signing ceremony, that the strategy for solving the housing crisis followed by the government includes creating cities serviced by infrastructure, with thousands of different housing units available, to suit various categories of citizens, and it also works to reduce population pressure on the city of Baghdad. ", stressing that "this project is being implemented for the first time in the history of Iraq of this size and capacity, and that it comes in compliance with what was stated in the government program regarding finding radical and sustainable solutions to the housing crisis."
He also expressed his appreciation for the performance of the specialized team in the Ministry of Housing and Reconstruction, the Baghdad Municipality, and the rest of the concerned departments, which confirms that the investment environment in Iraq has become effectively prepared and attractive.
For his part, Sawiris stated that this partnership with Iraq to implement the Ali al-Wardi residential city will be a turning point in cooperation and sharing in the pioneering and innovative vision for implementing residential cities, which takes into account the balance between environmental and population needs.
The new city project, which bears the name of the late Iraqi sociologist and thinker Dr. Ali Al-Wardi, extends over an area of 61 million square meters to the southeastern side of the capital, Baghdad, and will provide 120,000 diverse housing units, in addition to urban facilities, green spaces, and smart city technological means. In order to apply advanced standards in sustainability and environmental preservation.
Sawiris and Ora are among the most well-known companies in the field of real estate development at the regional and international levels, and contracting with them comes within the government’s directives to establish successful partnerships with advanced companies and businessmen known for their quality implementation and expertise. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Georgia Bank Story] BANK VISITOR: Today I went to a bank called Truist in Georgia...I asked [the financial advisor] you mind if I get a minute...I'd like to ask you a few questions? She said Yeah...I said I've been banking with this bank a long time...Have you heard of the Iraqi dinar? She got quiet...She said, well I know there are things happening in Iraq...yes...I can't really tell you anything but if you want to ask me some question I'll be more than happy to answer... FRANK: Bingo! BANK VISITOR: ...Are you guys going to be exchanging the Iraq dinar? She said, well we will not be exchanging the Iraqi dinar but we will take it and send it off for you to have it exchanged. [Post 1 of 2....stay tuned]
Frank26 [Georgia Bank Story cont.] I said, I don't know I want that to happen without knowing who that might be and she said, I can't tell you but I can answer your questions. I said, well is Chase Bank part of that? She said, yes. I said, What about Bank of America...? She said yes... FRANK: The answers she's given you IMO are spot on. FRANK: Did you ask her if they're going to have a fee to exchange? BANK VISITOR: Yeah...I said, if I was to exchange here what is the fee you would charge me...? She said...from my understanding there will not be a fee for people especially of a certain caliber. FRANK: Bingo! BANK VISITOR: She said, but we can discuss that more at an appropriate time...probably not too far in the future... [Post 2 of 2]
RED ALERT: Prepare For A MASSIVE CYBER ATTACK Against The U.S. FINANCIAL SYSTEM.
Greg Mannarino: 1-31-2024
BREAKING: UAE-CHINA Transaction Settled With Digital Dirham, UAE New CBDC In a Push To Ditch USD
Lena Petrova: 1-31-2024
"Tidbits From TNT" Wednesday 1-31-2024
TNT:
Tishwash: Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq
The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.
The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”
He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to establish strong economic relations."
TNT:
Tishwash: Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq
The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.
The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”
He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to establish strong economic relations."
He pointed out, "The BRICS economic phenomenon has become a reality in changing the economic world in the world, as the dollar and the euro are no longer the main currencies in financial dealings link
Tishwash: 235 ATMs to be installed in Erbil
The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically.
About 80 service centers will be installed in Erbil to accommodate approximately 235 ATMs from various banks.
The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically.
The establishment of ATM stations in banks and the redistribution of some civil servants to banks are indications of the expansion of the MyAccount Initiative.
The civil servants, who are employees of the KRG, can make withdrawals and deposits at the select ATMs.
Currently, the distribution of bank cards to employees is being carried out through 10 state-owned banks.
Marwan Ahmad, supervisor of the project, told Kurdistan24 on Monday that approximately 25,000 accounts have been successfully registered for their owners thus far.
Ahmad also mentioned that they are currently working on coordinating with banks to install the ATMs at the stations.
The pilot project is expected to be finalized in 2025 to integrate all civil servants into the digital payment system.
The government’s Department of Information Technology (DIT) designed, tested, piloted, and implemented a secure application for onboarding KRG employees into the program in line with the Central Bank of Iraq’s Know-Your-Customer (KYC) needs, according to a press release previously shared with Kurdistan24.
It is believed that there are four banks offering services for the program: Ashur, BBAC, Cihan, and RT.
Erbil currently has ATMs from five private banks, namely RT Bank, Cihan Bank, Ashur International Bank, National Bank of Iraq, and BBAC Bank, all of which are synchronized with MyAccount, except for the National Bank of Iraq. link
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CandyKisses: Sudani receives official invitation to visit Tunisia
The media office of Prime Minister Mohamed Shia al-Sudani announced on Tuesday that the latter received an official invitation to visit Tunisia, which he promised to meet as soon as possible.
This came during a meeting with the Ambassador of the Republic of Tunisia to Iraq, Shukri Latif, according to the Sudanese Media Office.
During the meeting, they discussed the horizon of joint cooperation between the two countries and ways to strengthen relations at various levels and fields, in the interest of the Iraqi and Tunisian peoples, the statement said.
The statement added that Ambassador Shukri Al-Latif conveyed the greetings of Tunisian Prime Minister Ahmed Saleh Al-Hachani to the Sudanese and his appreciation of Iraq's positions, and the sincere desire to expand the strategic partnership and strengthen the friendship between the two countries, which is adopted by Tunisian President Kais Saied.
The statement pointed out that the ambassador carried to the Sudanese a written message from Al-Hashanni, which included an official invitation to the Iraqi Prime Minister to visit Tunisia, in order to discuss ways to diversify areas of cooperation and raise them to the highest levels, and to confirm the trend towards constructive joint work.
The statement noted that Al-Sudani expressed his appreciation for the invitation and its response at the earliest possible opportunity, stressing the importance of mutual support in international forums and Tunisia's position on the Palestinian cause.
Al-Sudani also renewed the call for Tunisian companies to participate in projects, investment opportunities and infrastructure construction in Iraq, and the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad.
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CandyKisses: Including Saudi Arabia and the UAE. Iran cancels visas with 28 countries
Baghdad Today - Follow-up
Today, Wednesday (January 31, 2024), the Iranian Ministry of Foreign Affairs announced the unilateral cancellation of entry visas for nationals of 28 countries, including Gulf countries.
The ministry said it had "decided to unilaterally cancel the entry visa through airports for nationals of 28 countries, including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Kuwait."
"The decision to unilaterally cancel visas is actually a speech to the peoples of the world, as Iran has shown that it is ready to open its doors to the people of the world and provide them with more facilities so that they can visit Iran easily and enjoy its advantages," said Iranian Tourism Minister Ezzatollah Derghami.
Mot: .. the Good ole Daze!! --- siiggghhhhh
Mot: .. pooooor ole ""Earl""
Goldilocks' Comments and Global Economic News Wednesday AM 1-31-24
Goldilocks' Comments and Global Economic News Wednesday AM 1-31-24
Good Morning Dinar Recaps,
Protocol 20 Update:
In response to ecosystem feedback about a bug discovered last week in Stellar Core v20.1.0 that could have impacted applications using fee bumps to sponsor Soroban transactions, Stellar network validators postponed the Protocol 20 upgrade vote.
As soon as a new version of Stellar Core is available — which should be February 2 — we will once again encourage the ecosystem to upgrade relevant software — in this case, that’s limited to Stellar Core, Horizon, and RPC — and, if they choose, to arm validators for a February 20 upgrade vote.
Here’s the new timeline for the Protocol 20 rollout… Key dates:
February 2: Core 20.2 Release Candidate
February 6: Core 20.2 Stable Release and Testnet Reset + Upgrade
February 20: Target Vote on Protocol 20 Upgrade Vote + Phase 0
Goldilocks' Comments and Global Economic News Wednesday AM 1-31-24
Good Morning Dinar Recaps,
Protocol 20 Update:
In response to ecosystem feedback about a bug discovered last week in Stellar Core v20.1.0 that could have impacted applications using fee bumps to sponsor Soroban transactions, Stellar network validators postponed the Protocol 20 upgrade vote.
As soon as a new version of Stellar Core is available — which should be February 2 — we will once again encourage the ecosystem to upgrade relevant software — in this case, that’s limited to Stellar Core, Horizon, and RPC — and, if they choose, to arm validators for a February 20 upgrade vote.
Here’s the new timeline for the Protocol 20 rollout… Key dates:
February 2: Core 20.2 Release Candidate
February 6: Core 20.2 Stable Release and Testnet Reset + Upgrade
February 20: Target Vote on Protocol 20 Upgrade Vote + Phase 0
To ensure network performance and stability, smart contract functionality will be rolled out in phases. Initially, if and when validators approve the upgrade to Protocol 20, network resource limits will be too low to support production-level use. Validators will increase them based on feedback from network operators, then again based on feedback from smart contract developers, until finally, they are high enough to allow users to take full advantage of the new functionality.
Read about the decision (https://stellar.org/blog/developers/our-decision-to-disarm-validators-and-vote-to-postpone-the-protocol-20-upgrade) and get involved in the Discord (https://discord.com/channels/897514728459468821/1200432249594707998) and dev-mailing list (https://groups.google.com/g/stellar-dev/c/-IOCsnqLLwI/m/h1TAg8A5CQAJ?pli=1)channels to keep up with the conversations.
For more info, see the blog post (https://stellar.org/blog/developers/the-stellar-network-s-phased-rollout-of-smart-contracts-the-road-to-mainnet) detailing the phased rollout plan. Stellar Blog
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"OKX Ventures Announces Investment in bitSmiley, a Stablecoin Protocol in the Bitcoin Ecosystem"
Bitcoin is a store of value coin. On its own, it does not scale the new Quantum Financial System. This is why the BRC-20 protocol is necessary.
When a request is made for the use of a Bitcoin store of value, a fungible digital asset is created on the Bitcoin blockchain. Here, BITUSD coins are minted to fulfill transactions on the Bitcoin blockchain.
BitUSD coin is over collateralized due to the volatile nature of Bitcoin, and a person can buy lending insurance to cover the cost during the times of price volatility to keep their Bitcoin's price at a stable rate. This insurance keeps a situation from being necessary to liquidate a person's Bitcoin assets. Thus, this enables the use of Bitcoin as a stablecoin through BITUSD possible.
Bitcoin goes through bitSmiley, a company that provides comprehensive Bitcoin DeFi solutions for coins needing extra support in creating decentralized protocols on the new Web 3 application in financial functions for the QFS.
In other words, Bitcoin goes through the BRC-20 protocol to enable bitUSD to scale the Quantum Financial System as a stablecoin.
Ethereum has a similar setup. ERC-20 tokens are cryptocurrencies built on the Ethereum Blockchain. They are digital tokens representing shares in a company or virtual assets.
So, here we have it. We have a stablecoin interface that can scale the QFS through Bitcoin and a smart contract program through Ethereum that can process the transaction.
Spot Ethereum ETF is currently in review for adoption in May of 2024. Each of these spot ETFs have several companies underneath them that connect to these protocols allowing the operation of our new Digital Asset Based Trading System to function.
© Goldilocks
FintechFutures 1
FintechFutures 2
Investopedia 1
Techopedia
Investopedia 2
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Did you ever think that you would see the day when Bitcoin would be used as a stablecoin for payments? It's here.
© Goldilocks
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What Are Stablecoins? | Back to Basics | https://youtu.be/PWvAINFwkbk?feature=shared
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Look for a stablecoins to come into the forefront on the new QFS. Stablecoins give each country's currency a value as a virtual asset on the new digital economy.
Stablecoins are collateralized by gold and other assets to give them a stable value. This is how the Global Currency Reset is being done.
As we watch this process, you will notice how the next building phase of our digital economy is going to level the playing field inside a Global Currency Reset.
This phase of development on the QFS will take the digital economy and interface itself with the banking system through Basel 3 Capital requirements.
Things will begin to move much faster going forward as networks from around the world begin their process of connecting their Quantum Technologies together.
This is why Protocol 20 is so important to get right, and why, they're working on current bugs in the system. It is important that we keep in prayer the technological servants who are building this new Global Economic Network for us. Their groundbreaking discoveries and movements into the digital economy are literally efforts that are transforming the way we live.
© Goldilocks
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It is important to take time to express my deepest thanks to Freedom Fighter who listens to me go over what we talk about in this room each day.
He brings to you a voice and opportunity to interact with these concepts building the new Financial System in a way that is easier for you to understand.
And, I am very Lucky to have another friend who has been listening to me for some time since the beginning of putting this new Financial System together bore her with the details of its conception.
These reflective moments with my friends give me the opportunity to voice what I need to be heard, so you can get an understanding of where we are going.
Thank you my friends.
© Goldilocks
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Ethereum ETF Approval Expected in May, Standard Chartered Predicts | Bloomberg
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Transcript of January 2024 WEO Update Press Briefing | IMF
"So you put all of this together, and what we are seeing, and we are agreeing with that assessment, is central banks holding off on easing until maybe the second half of 2024. And then that's when we anticipate that the Federal Reserve, the European Central Bank, the Bank of England, and others might start easing. Including the South African Reserve Bank, by the way."
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Harvest Global Investment Shows Interest in HK Stablecoins, Spot BTC ETF: Reports | Coin Desk
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There may be one last chance to buy BTC at ‘bargain’ prices — Rekt Capital | Coin Telegraph
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Next Bitcoin Halving 2024 Date & Countdown [BTC Clock] | BuyBitcoinWorldwide
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Foreign Exchange Announcement:
"The United Arab Emirates' central bank marked a significant milestone by executing a $13.6 million cross-border digital dirham transfer to China via the mBridge central bank digital currency (CBDC) platform. Learn how this multinational collaborative effort is reshaping cross-border transactions."
mBridge (Multiple CBDC Bridge) is a multi-CBDC platform. It was developed to support real-time peer-to-peer, cross-border payments, and foreign exchange transactions using CBDCs.
This transfer of money from UAE to China took place on January 29th, 2024. It went through seamlessly and successfully digitally completing this transaction between two countries.
It was a significant amount of money being used in this transaction to test large transactions on the QFS.
The mBridge platform key has the ability to onboard multiple commercial banks from each in the network that is connected together. Coinnounce
© Goldilocks
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Asia’s Prospects for A Soft Landing Have Improved | IMF
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