BRICS NEW REPORT: A Common Currency, New BRICS AI Center, New Members | Everything Changes Forever
BRICS NEW REPORT: A Common Currency, New BRICS AI Center, New Members | Everything Changes Forever
Tech revolution: 2-11-2024
In the intricate landscape of global geopolitics, the seeds of BRICS were sown back in 2001, yet it wasn't until 2009 that this powerhouse coalition officially solidified its presence with the inclusion of Brazil, Russia, India, and China.
South Africa added its weighty influence to the mix in 2010. Even before the recent expansion, these formidable nations collectively wielded significant economic clout, accounting for approximately 26% of the world's wealth and boasting a population share of nearly 41% by 2023.
Fast forward to a pivotal moment in South Africa, where the BRICS summit of 2023 set the stage for a monumental shift.
BRICS NEW REPORT: A Common Currency, New BRICS AI Center, New Members | Everything Changes Forever
Tech revolution: 2-11-2024
In the intricate landscape of global geopolitics, the seeds of BRICS were sown back in 2001, yet it wasn't until 2009 that this powerhouse coalition officially solidified its presence with the inclusion of Brazil, Russia, India, and China.
South Africa added its weighty influence to the mix in 2010. Even before the recent expansion, these formidable nations collectively wielded significant economic clout, accounting for approximately 26% of the world's wealth and boasting a population share of nearly 41% by 2023.
Fast forward to a pivotal moment in South Africa, where the BRICS summit of 2023 set the stage for a monumental shift.
Amidst deliberations, a bold decision emerged: to extend invitations to five new nations to join the BRICS fraternity. Among the chosen were Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Argentina, too, received a coveted invitation, though regrettably declined under the helm of its new leadership.
At the heart of the discourse during the initial rendezvous in South Africa was Iran's fervent advocacy for advancing discussions on banking and payments, with particular emphasis on the realm of digital currency.
Notably, BRICS found itself in the unique position of hosting both Russia and Iran, nations grappling with Western sanctions, thus amplifying the discourse around alternative payment systems.
The notion of a common digital currency among BRICS nations had been circulating within diplomatic circles for some time. While the idea had been somewhat downplayed during the previous summit in August, with a preference for leveraging local currencies in trade transactions over the ubiquitous US dollar, Iran's advocacy hinted at a potential resurrection of the common currency dialogue.
However, Russia, assuming the role of BRICS chair, had expressed reservations regarding the feasibility of such a unified currency system prior to the expansion. With an influx of interest from 20 to 30 prospective member states and existing BRICS constituents eager to broaden the coalition's reach, the prospect of transformative change looms large on the horizon.
Delving deeper into the realm of trade dynamics, Mehdi Safari, the Iranian Deputy Foreign Minister entrusted with economic affairs and the nation's BRICS Sherpa, articulated a vision for a paradigm shift towards the utilization of national currencies within BRICS.
Anticipating positive strides in key economic and financial domains, Safari underscored Iran's proactive stance in engaging with BRICS initiatives throughout the year.
Meanwhile, Egypt, newly inducted into the BRICS fold, expressed a fervent desire to fortify ties with existing members, recognizing the potential for mutually beneficial collaboration.
Hala al-Said, the Planning Minister, unveiled plans to bolster trade volumes, a sentiment echoed in discussions with Dilma Rousseff, President of the New Development Bank, aimed at augmenting cooperation between BRICS and the NDB.
Against this backdrop of burgeoning economic interdependence, Egypt's accession to BRICS heralds a strategic maneuver to alleviate its chronic foreign currency shortages, charting a course towards reduced reliance on US dollar transactions and an influx of fresh investments, albeit with a recognition that tangible benefits may materialize gradually over time.
Beyond economic imperatives, BRICS aspires to wield influence on the global political stage, challenging the prevailing Western-dominated order epitomized by institutions like the World Bank and the IMF.
This ethos culminated in the establishment of the New Development Bank in 2015, emblematic of BRICS' resolve to chart an independent course. Looking ahead to 2024 and beyond, the inclusion of new members is poised to inject an additional $2.6 trillion into the collective BRICS economy, bolstering its standing on the world stage.
Yet, the G7 nations retain a formidable edge, commanding 43.2% of the global economy. Sergei Ryabkov, the Russian Deputy Foreign Minister, struck an optimistic tone regarding the potential dividends for new BRICS entrants, hailing their membership as a pivotal juncture in advancing a more equitable global order.
Against the backdrop of Russia's BRICS presidency, a plethora of engagements spanning over 200 events across various Russian cities underscores a concerted effort to integrate new members seamlessly into the BRICS framework.
More Details In The Video
"Tidbits From TNT" Sunday 2-11-2024
TNT:
CandyKisses: Hajj and Umrah in Iraqi dinars. Kurdistan companies stopped working in dollars
Erbil
The Hajj and Umrah Authority in the Kurdistan Region decided on Saturday to collect the travel costs of pilgrims in Iraqi dinars exclusively, instead of the dollar, like the rest of the cities of Iraq, provided that the value of the cost is determined at the exchange rate of the Central Bank (1320 dinars per dollar), while the registrants were given one week to pay the costs and update the passport data.
Details:
This decision comes after Niaz Naqshbandi, Director General of Hajj and Umrah in the Kurdistan Region, chaired a meeting with the owners of Hajj and Umrah offices in the provinces and the autonomous administrations in the region.
TNT:
CandyKisses: Hajj and Umrah in Iraqi dinars. Kurdistan companies stopped working in dollars
Erbil
The Hajj and Umrah Authority in the Kurdistan Region decided on Saturday to collect the travel costs of pilgrims in Iraqi dinars exclusively, instead of the dollar, like the rest of the cities of Iraq, provided that the value of the cost is determined at the exchange rate of the Central Bank (1320 dinars per dollar), while the registrants were given one week to pay the costs and update the passport data.
Details:
This decision comes after Niaz Naqshbandi, Director General of Hajj and Umrah in the Kurdistan Region, chaired a meeting with the owners of Hajj and Umrah offices in the provinces and the autonomous administrations in the region.
We directed the Hajj and Umrah offices to receive the amounts from the pilgrims for one week from February 11 to 18, and those who do not pay the costs during this period will lose the right of Hajj this year.
Hajj and Umrah companies alerted all registrars who do not have passports, or expired, to review the Passports Department to update their data within a week.
The cost of Hajj for the people of the Kurdistan region is no different from their peers in the rest of Iraq.
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CandyKisses: Al-Mandalawi refers the request to remove foreign forces from Iraq to the legal, security and defense committees
THE MEDIA DEPARTMENT OF THE HOUSE OF REPRESENTATIVES CONFIRMED THAT THE ACTING SPEAKER OF THE HOUSE OF REPRESENTATIVES, MOHSEN AL-MANDALAWI, REFERRED THE REQUEST TO REMOVE FOREIGN FORCES FROM IRAQ TO THE LEGAL AND SECURITY AND DEFENSE COMMITTEES.
A STATEMENT FROM THE INFORMATION DEPARTMENT OF THE COUNCIL INDICATED THAT "THE REQUEST IS SIGNED BY MORE THAN 100 DEPUTIES TO THE TWO COMMITTEES (LEGAL, SECURITY AND DEFENSE) AND RELATED TO A PROPOSAL FOR A LAW TO REMOVE FOREIGN FORCES FROM IRAQ."
HE ADDED THAT "AL-MANDALAWI CALLED ON THE GOVERNMENT TO IMPLEMENT THE DECISION OF THE HOUSE OF REPRESENTATIVES NO. (18) OF 2020, RELATED TO THE REMOVAL OF FOREIGN FORCES AND THE TERMINATION OF THEIR MISSIONS IN IRAQ, BASED ON THE DEVELOPMENT OF IRAQI SECURITY CAPABILITIES, AND THE ABSENCE OF ANY NEW AGREEMENT WITH FOREIGN FORCES THAT MUST REMAIN."
https://www.dijlah.tv/index.php?page=article&id=342323
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CandyKisses: Sudani resolves debate over ending US presence in Kurdistan
Mawazine News – Baghdad
On Saturday, Prime Minister Mohammed Shia Al-Sudani stressed the non-reversal of the decision to end the presence of the international coalition from Iraq, noting that everyone is participating in the negotiations of the American presence, which will be applied in Kurdistan as well.
"The decision to withdraw foreign forces from Iraq is taken in advance and before the events in Gaza, but the current situation in the region necessitated the acceleration of negotiations," Al-Sudani said in a televised interview followed by Mawazine News.
He added that "the negotiations between Baghdad and Washington are in which most of the political forces within the state administration coalition participate and will be applied throughout Iraq, including Kurdistan."
He pointed out that "Iraq has been able to liberate its territory and is able to protect itself through its security services during the coming period without the need for an international alliance."
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CandyKisses: Al-Kalabi: The parliament session will put an end to the American recession in Iraq
Information/Baghdad.Youssef Al-Kalabi, MP for the Coordination Framework, affirmed the parliament's determination to support the government by issuing an immediate and binding decision on the removal of US forces from Iraq.
Al-Kalabi said in a televised interview that "the US forces returned and betrayed the promises despite the government's efforts to organize the withdrawal of the international coalition.
"He added that "the House of Representatives will have a role with the size of the Americans regardless for the blood of the sons of Iraqis," noting that "there are some deputies who refrain from signing an emergency session to expel US forces for sectarian reasons "
He pointed out that "we are surprised by the active role of the Ministry of Foreign Affairs in bombing Erbil, unlike the bombing of the martyr Abu Baqir al-Saadi."
Mot: ..... LOL --- Who Else!! Me Not caring about the superbowl
Mot: Chance of a Life Time! -- FREEEEE Class!!!!
News, Rumors and Opinions Sunday AM 2-11-2024
KTFA:
Frank26: "LOL... ONCE AGAIN IT'S A LOT MORE THAN THAT!!!"...........F26
Iraq increased its possession of the yellow metal to more than 142 tons
2/7/2024
The World Gold Council announced today, Wednesday, that Iraq has increased its possession of the yellow metal to more than 142 tons.
The Council said in its latest table for last January, “Iraq maintained its 30th ranking globally out of 100 countries included in the table with the largest gold reserves and raised its possession to 142.6 tons from 132 tons, which represents 8.3% of the rest of its other reserves.”
He added, "Iraq ranked fourth in the Arab world after Saudi Arabia, which possessed 323.1 tons, followed by Lebanon, which possessed 286.8 tons, and Algeria, which possessed 173.6 tons."
KTFA:
Frank26: "LOL... ONCE AGAIN IT'S A LOT MORE THAN THAT!!!"...........F26
Iraq increased its possession of the yellow metal to more than 142 tons
2/7/2024
The World Gold Council announced today, Wednesday, that Iraq has increased its possession of the yellow metal to more than 142 tons.
The Council said in its latest table for last January, “Iraq maintained its 30th ranking globally out of 100 countries included in the table with the largest gold reserves and raised its possession to 142.6 tons from 132 tons, which represents 8.3% of the rest of its other reserves.”
He added, "Iraq ranked fourth in the Arab world after Saudi Arabia, which possessed 323.1 tons, followed by Lebanon, which possessed 286.8 tons, and Algeria, which possessed 173.6 tons."
He pointed out that "the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8133.5 thousand tons, followed by Germany with 3352.6 thousand tons, then Italy came with 2451.8 thousand tons, while Bosnia and Herzegovina came at the bottom with 1.5 tons."
The Council stated, "Iraq announced the purchase of gold in the year 2023, amounting to approximately 12.25 tons."
It is noteworthy that the World Gold Council is based in the United Kingdom and has extensive experience and deep knowledge of the factors causing market change. Its members consist of the largest and most advanced gold mining companies in the world. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Babysmom THE DINAR WILL COME OUT AT A SPECIFIC RATE ON FOREX. IT WILL RISE FOR A WHILE BASED ON POPULARITY OF HEDGE FUNDS ETC. THEN IT WILL COME DOWN IN 5% INCREMENTS UNTIL IT REACHES A SETTING POINT...25 CENTS OF THE KUWAIT DINAR. CURRENTLY THE KUWAIT DINAR IS APPROXIMATELY $3.25.
Frank26 The next phase is the most difficult...most dangerous phase...You need a team...You realize how Earth shattering decision you're going to make in front of strangers that you don't know. That's why I told you to create your team. If you don't have the energy, desire, strength, will, knowledge to create a team right now don't worry about it, when the blessing occurs they'll be looking for you. You must make the proper decision on who is going to help you. These are powerful decision that you have to make with your team because it'll affect you, your children's children's future.
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Latest from Rod Steel ~ 2.10.24
My friend spoke to Patriot Rod Steel today, and he confirmed that he's spoken with some bond people and they have received funds.
More details from Rod: "I was told the paperwork was just completed and the Admiral is going to release everything on Monday."
Rod continues: "The Iraq Government will reveal the new ‘lower denomination’ notes this week and then release the new Dinar Rate (4+) to be published in the Government Gazette on Sunday and then go on FOREX this coming Monday, the 12th". ROD
My very close friend vetted this information with two other contacts. One who is very close to the Admiral - as in working alongside him on a daily basis. And the second gentleman is extremely close to those on the Bond side who are clued into the details regularly. They both are in alignment with Rod's news also - so that's extremely encouraging. We also know that Mark is hearing similar stories.
More from Ginger: I cannot give details because I'm sworn to secrecy, but allowed to say that the papers have been signed by people we know AND others have heard happy news from their group leaders on the T3 Bond side. I personally do not know of anyone in T3 who has liquid, spendable funds as of yet, but I'm extremely pleased with all of the news we're getting. I'm grounded and steady - remaining optimistic. 2.10.24
~ Ginger of the Liberty Lounge
Putin Says America Is Killing The Dollar | Andy Schectman
Liberty and Finance: 2-10-2024
Andy Schectman has been warning of a global pivot away from the Dollar. In Tucker Carlson's recent interview with Russian president Vladimir Putin, Putin says the U.S. is killing the Dollar by recent sanctions.
Schectman warns that through the U.S. decisions, many nations are uniting against the best interests of America and the U.S. dollar.
INTERVIEW TIMELINE:
0:00 Intro
1:50 Tucker's Putin interview
11:23 Media propoganda
19:00 Trust your gut
26:00 Retirement
31:00 Something's wrong
Goldilocks' Comments and Global Economic News Saturday Evening 2-10-24
Goldilocks' Comments and Global Economic News Saturday Evening 2-10-24
Good Evening Dinar Recaps,
"OSL, a Hong Kong-licensed digital asset platform, has successfully executed the first transaction of a tokenized warrant issued by UBS in Hong Kong."
Tokenized Warrants interface Traditional Finance and Blockchain Technology transactions. The transaction took place on the Ethereum Blockchain.
Ethereum is a peer-to-peer transaction network allowing digital monetary transactions to talk to one another (through codes) executing payments without the intermediary function of a centralized system.
UBS tokenize is a part of the Swiss Bank's tokenization service utilizing the Distributed Ledger Technological System to tokenize bonds, funds, and other structured products.
© Goldilocks
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Goldilocks' Comments and Global Economic News Saturday Evening 2-10-24
Good Evening Dinar Recaps,
"OSL, a Hong Kong-licensed digital asset platform, has successfully executed the first transaction of a tokenized warrant issued by UBS in Hong Kong."
Tokenized Warrants interface Traditional Finance and Blockchain Technology transactions. The transaction took place on the Ethereum Blockchain.
Ethereum is a peer-to-peer transaction network allowing digital monetary transactions to talk to one another (through codes) executing payments without the intermediary function of a centralized system.
UBS tokenize is a part of the Swiss Bank's tokenization service utilizing the Distributed Ledger Technological System to tokenize bonds, funds, and other structured products. Yahoo Finance
© Goldilocks
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Banking Announcement:
"Hong Kong Proposes Regulatory Framework for OTC Crypto Venues. Firms providing "spot trade of any virtual assets for money" such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise."
Hong Kong is moving from their pilot phase of testing through a sandbox of several virtual assets from around the world to proposing regulations on these virtual assets they used to examine use case scenarios for payments.
These over-the-counter virtual assets will begin their movement onto the QFS through a broker-dealer relationship until they are nationalized further into this process.
This proposed regulatory framework will impact providers of services enrolled in the benefits of CMS programs. A Content Management System helps companies manage digital content, and it's purpose is to eliminate fraud moving through their networks.
After a period of comments through this proposed regulation, Hong Kong will move on to their final regulations. The Final Regulations will implement the new virtual asset regulations for Hong Kong.
© Goldilocks
RegulationAsia
News HK
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Statement on Approval of FINRA Proposed Rules to Establish Post-Trade Transparency in the Treasury Markets | SEC
Today, the Commission approved a rule change proposed by the Financial Industry Regulatory Authority (FINRA) to provide for the first time public dissemination of U.S. Treasury transactions on a trade-by-trade basis.
Post-trade transparency promotes liquidity and helps investors. There is something about that sunshine. It gives everyone a sense of where the current market is. The public gets to see details of the last trade that two counterparties just negotiated in that market.
The FINRA rule approved today brings greater post-trade transparency to those shopping for or selling Treasury securities.
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Look for Global Regulations on Stablecoins to begin populating during Protocol 20 (Global Network Integration) as it expands after the vote on February the 20th to move forward. You can't have one without the other.
One is a payment system that will pay for the Tokenized Assets being populated. It will begin the process of synchronizing the banking system with our markets Globally.
© Goldilocks
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Global Payment Orchestration Platform Market Review 2018-2023 And Forecast To 2028: Surge In Cross-Border Transactions Fuelling Market Growth | MENAFN
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Local currencies dominate Russia-China trade – Putin aide — RT Business News
Russia and China have brought the share of mutual trade settlements in the national currencies to 90%, Yury Ushakov, a senior foreign policy aide to Russian President Vladimir Putin, said on Thursday following a phone call between Putin and his Chinese counterpart Xi Jinping.
The official added that during the call the two leaders emphasized the importance of creating a reliable joint financial infrastructure.
"It has been stated that over 90% of settlements between our countries are carried out in rubles and yuan," Ushakov told journalists after the conversation between Putin and Xi.
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NSE’s consolidated Q3 operating revenue up by 25% YoY at Rs.3,517 crores | NewsroomPost
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Broadridge's DLT repo platform transacts $1 trillion a month. Just getting started | Ledger Insights - blockchain for enterprise
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Bitrue Introduces Tether Gold and Euro Tether to its Platform | BlockchainReporter
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Silver the New Gold in the East, then West | YouTube
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Digging into the Future: The Role of Precious Metals and Sustainable Industry Practices | Nasdaq
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Treasury secretary won't say whether dept surveils Americans' purchases: 'Concerning' | The National Desk
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Which Banks are using Quantum Financial System?
"No bank uses the Quantum Financial System at the moment. However, it might be worth noting that large banks like JPMorgan (JPM) and Goldman Sachs (GS) are piloting the use of quantum computers for advanced financial models." Jan 10, 2024
As we discussed about 2 years ago, JP Morgan was the lead Bank assigned to take our Banking System into Decentralized Finance through Web 3 applications.
We are approaching some of the final developmental stages of this new digital asset-based trading system. Currently, we are in the pilot phase of this development, and Protocol 20 will begin to populate Financial Networks around the world inside this new QFS this month. CoinCodex
© Goldilocks.
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Cryptodollar Minting Protocol M^0 Will Allow Institutions to Issue Stablecoins Backed by U.S. Treasuries | CoinDesk
M^0 white paper has set rules to allow crypto institutions to mint and issue fully decentralized and fungible stablecoins backed by U.S. Treasury bills.
The team is backed by Pantera and led by stablecoin pioneers from MakerDAO and Circle.
The M^0 protocol aims to recreate the $5 trillion-$20 trillion offshore dollar market for the digital age.
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More News, Rumors and Opinions Saturday Afternoon 2-10-2024
Russia hosts a meeting of BRICS Deputy Finance Ministers and Central Bank Governors
08.02.24 15:35
Economics
This is the first event of the unification year in the financial sector
The Ministry of Finance organised an online meeting of BRICS Deputy Finance Ministers and Central Bank Governors. It was the first event in the BRICS financial track with the participation of new members of the association.
Ivan Chebeskov, Deputy Finance Minister of Russia, and Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia, spoke about the priorities of the Russian presidency in the BRICS financial track. This is reported by the official website of the Russian Finance Ministry.
Russia hosts a meeting of BRICS Deputy Finance Ministers and Central Bank Governors
08.02.24 15:35
Economics
This is the first event of the unification year in the financial sector
The Ministry of Finance organised an online meeting of BRICS Deputy Finance Ministers and Central Bank Governors. It was the first event in the BRICS financial track with the participation of new members of the association.
Ivan Chebeskov, Deputy Finance Minister of Russia, and Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia, spoke about the priorities of the Russian presidency in the BRICS financial track. This is reported by the official website of the Russian Finance Ministry.
The meeting also discussed customs and tax co-operation within BRICS, financing of infrastructure projects, launch of the BRICS research network in the field of finance, as well as financial co-operation within the BRICS Business Council.
The Bank of Russia presented the priority areas of cooperation in the financial track, including the mechanism of functioning of foreign exchange reserves, payment interaction, information security of the financial sector, use of financial technologies, transition financing and sustainable development, as well as a platform for open events.
The Bank of Russia also aims to integrate new BRICS members into the work of the financial track and strengthen co-operation at the expert level.
The next meeting of the BRICS Finance Track at the level of finance ministers and central bank governors is scheduled for 27 February this year.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 We're in the Venturi effect (a narrow opening and you're trying to squeeze a lot through it). You know how you put your finger on a hose and you can squirt it much further? That's the Venturi effect. We're having a Venturi effect with intel.
Bruce [via WiserNow] I know that there are rates on the bank screen I know that they should be locked in. ...We should also have rates on redemption center screens, which is the better way to go...you should be absolutely thrilled with the rates that are available for all of our currencies.
NO ESCAPE: Major US Crisis HITS Europe Hard, China Deflation Panic, Argentina Debt Collapses
Sean Foo: 2-9-2024
The US commercial real estate crisis is getting worse and it's not just US banks that are at risk of collapse, Europe is next on the chopping block.
The banking contagion has spread. China on the other hand is suffering from deflation, but does that mean their economy will collapse?
Here's what you must know!
Timestamps & Chapters:
0:00 US Commercial Real Estate Implosion
3:15 EU Banks At Major Risk
6:41 Argentina Bonds Collapsing AGAIN
9:50 China Deflation Panic
13:07 Time To Buy China?
Differences between a wealth manager and a fiduciary advisor?
Bearded_PatriotUSA Telegram post 2/9/24
Forwarded from Mr Green B:
FYI -Here’s an easier explanation of the differences between a Wealth manager and a Fiduciary Advisor.
Differences between a wealth manager and a fiduciary advisor?
A wealth manager and a fiduciary advisor are both professionals who provide financial advice and management services, but there are some differences between them:
1. Scope of Services:
– Wealth Manager: A wealth manager typically offers comprehensive financial planning and investment management services. They may assist clients with a wide range of financial needs, including investment planning, retirement planning, tax planning, estate planning, and risk management.
Bearded_PatriotUSA Telegram post 2/9/24
Forwarded from Mr Green B:
FYI -Here’s an easier explanation of the differences between a Wealth manager and a Fiduciary Advisor.
Differences between a wealth manager and a fiduciary advisor?
A wealth manager and a fiduciary advisor are both professionals who provide financial advice and management services, but there are some differences between them:
1. Scope of Services:
– Wealth Manager: A wealth manager typically offers comprehensive financial planning and investment management services. They may assist clients with a wide range of financial needs, including investment planning, retirement planning, tax planning, estate planning, and risk management.
– Fiduciary Advisor: A fiduciary advisor is specifically obligated to act in the best interests of their clients at all times. While they may also offer comprehensive financial planning services, their primary focus is on providing advice and recommendations that are solely in the client’s best interest.
2. Fiduciary Duty:
– Wealth Manager: While many wealth managers strive to act in their clients’ best interests, they may not be legally bound to do so in all situations. Some wealth managers may operate under a suitability standard, which requires them to recommend products that are suitable for the client’s financial situation, but not necessarily the best option available.
– Fiduciary Advisor: A fiduciary advisor is held to a higher standard of care known as the fiduciary duty. This means they are legally obligated to always act in the best interests of their clients, putting their clients’ interests ahead of their own and avoiding conflicts of interest.
3. Compensation Structure:
– Wealth Manager: Wealth managers may be compensated through a variety of fee structures, including asset-based fees, hourly fees, or commissions on product sales. Some wealth managers may receive commissions for selling certain financial products, which can create potential conflicts of interest.
– Fiduciary Advisor: Fiduciary advisors often operate on a fee-only basis, meaning they are compensated solely through fees paid by their clients. This fee structure minimizes conflicts of interest, as fiduciary advisors do not receive commissions or incentives for recommending specific products.
4. Regulatory Oversight:
– Wealth Manager: Wealth managers may be subject to regulatory oversight depending on their jurisdiction and the services they offer. However, regulatory requirements may vary, and not all wealth managers may be held to the same standards of conduct.
– Fiduciary Advisor: Fiduciary advisors are typically held to stricter regulatory standards, particularly if they are registered investment advisors (RIAs) in the United States. RIAs are regulated by the Securities and Exchange Commission (SEC) or state securities regulators and are required to adhere to fiduciary standards.
In summary, while both wealth managers and fiduciary advisors provide financial advice and management services, fiduciary advisors are held to a higher standard of care and are legally obligated to act in their clients’ best interests at all times. Choosing between the two depends on individual preferences, investment needs, and the level of trust and confidence desired in the advisor-client relationship.
"Tidbits From TNT" Saturday Morning 2-10-2024
TNT:
CandyKisses: Red Sea tensions revive trade route between Iraq, Egypt and Jordan
The Egyptian Ministry of Transport announced on Saturday the operation of the first phase of the Arab trade line between Iraq, Egypt and Jordan at the beginning of this year, following the Red Sea tensions.
She said in a report, followed by Shafaq News Agency, that the attacks of the Houthi group on international shipping ships in the Red Sea and the subsequent threat to navigation in the Suez Canal, highlighted the importance of the commercial link project between Iraq, Egypt and Jordan, and even talk about adding other routes linking the Gulf countries with Egypt.
TNT:
CandyKisses: Red Sea tensions revive trade route between Iraq, Egypt and Jordan
The Egyptian Ministry of Transport announced on Saturday the operation of the first phase of the Arab trade line between Iraq, Egypt and Jordan at the beginning of this year, following the Red Sea tensions.
She said in a report, followed by Shafaq News Agency, that the attacks of the Houthi group on international shipping ships in the Red Sea and the subsequent threat to navigation in the Suez Canal, highlighted the importance of the commercial link project between Iraq, Egypt and Jordan, and even talk about adding other routes linking the Gulf countries with Egypt.
According to the ministry, work is currently underway to implement the second phase of the integrated Arab trade line, through the construction of the Taba-Arish-Bir al-Abd-Fardan railway line, with a length of 500 km, to increase the volume of goods targeted for transport from the Gulf, Iraq and Jordan to Europe and America.
She stressed the Egyptian side's keenness to provide all forms of support for this new line, by facilitating procedures, and encouraging companies and various parties to use the line in both directions, especially with its importance in transporting goods from the Gulf, Iraq and Jordan to European and American countries.
Mohammed Ali Ibrahim, former dean of the Faculty of International Transport and Logistics at the Arab Academy for Science, Technology and Maritime Transport (AASTMT), believes that the line may be a window for the exports of Jordan and Iraq, and may open a door for the exports of Gulf countries, as they will pass through this road, which is an investment in the idea of multimodal transport.
"Of course, this is a solution to the Red Sea crisis for some neighboring countries, but it cannot be an alternative to the Suez Canal," he said.
In December of last year 2023, the Iraqi Ministry of Transport said that "Iraqi ports" have become an alternative to international transport lines to deliver goods from east to west, coinciding with the change of many major international transport companies due to security tension in the Red Sea and the Bab al-Mandab Strait.
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Tishwash: Integrity announces the return of nearly a quarter of a billion dinars from a government bank official
The Federal Integrity Commission announced that it was able to return nearly a quarter of a billion dinars from a former official in a government bank, after she was sentenced to imprisonment in her presence and paid a large financial fine.
A statement of integrity, of which {Al-Furat News} received a copy, stated that “Al-Rafidain Bank / main branch received a financial sum amounting to (177,622) thousand US dollars, which is equivalent to (232,684,820) million dinars, as a result of the legal procedures taken in the case of the convict, Assistant Director of Al-Rafidain Bank - Branch.” Khaldiya.
He added that the funds received by the bank represent the rents for the “Almas Tower” building for the period from (4/1/2023 - 10/31/2023), pointing out that the Rusafa Criminal Court - Second District issued on 8/25/2022 a ruling ruling By confiscating the convict’s share of the aforementioned property for the benefit of the bank, noting that these amounts cannot be disposed of except by a court decision.
The statement explained that the ruling decision, which was issued by the court in the case that the Commission investigated and referred to the judiciary, stipulates the imprisonment of the Assistant Director of the Rafidain Bank. Khalidiya Branch for a period of (15) years, with a fine of $10 million, based on the requirements of Article (36) of the Money Laundering and Anti-Terrorism Law No. (39 of 2015). link
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Tishwash: Association of Banks: Electronic payment in Iraq is witnessing a major transformation
Today, Friday, the Iraqi Private Banks Association counted the number of electronic payment devices and payment cards during the year 2023, confirming that this issue is witnessing a major transformation.
The Executive Director of the Association of Banks, Ali Tariq, told the official agency followed by (Al-Oula News): “The electronic payment file is making continuous progress thanks to the support and directives of Prime Minister Muhammad Shiaa Al-Sudani, and the government’s insistence on achieving this goal has stimulated all institutions, whether governmental, private, or financial institutions.” “Cooperating in the field of providing electronic payment tools to citizens across the public and private sectors.”
He pointed out, “After the Council of Ministers issued the decision to generalize electronic payment last year, a very significant progress and leap was achieved with regard to the number of points of sale, whether in the private or government sector, as it rose in just half a year from about 7,000 devices to 24,000 devices at the end of the year.” The same year 2023, expecting that “the number of electronic payment devices will increase further during the year 2024.”
He pointed out, “Nearly two and a half million cards were issued in 2023, whether prepaid cards or cards linked to an account to activate them in this field.”
He stressed, “Electronic payment in Iraq is witnessing a clear transformation, and it needs a little time. “So that all institutions, in accordance with the decisions issued by the Council of Ministers, can move to automation in a way that ensures the presence of electronic payment ports in all institutions and places.” link
Mot: ... Valentine's Plan!!!!
Mot: ..... its Almost That Time Ya knows!!!
News, Rumors and Opinions Saturday AM 2-10-2024
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 Sat. 10 Feb. 2024
Compiled Sat. 10 Feb. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
The Chinese Elders have (allegedly) released Dubai 1 Funds into Paymaster Accounts for Tier 1 (different countries governments) that were now liquid and being paid out. Dubai 2 funds for Tiers 2,3,4a (Groups) were (allegedly) released on Sun. 4 Feb. and were liquid on Fri. 9 Feb. Dubai 3 funds for Tier 4b (Us, the Internet Group) were released on Wed. 7 Feb. and would be liquid by at least Sat. 10 Feb.
Sat. 10 Feb. was the beginning of the Chinese New Year when BRICS countries would be (allegedly) informed of their new currency rates and Tier4b funds would be liquid in Paymaster Accounts.
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 Sat. 10 Feb. 2024
Compiled Sat. 10 Feb. 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
The Chinese Elders have (allegedly) released Dubai 1 Funds into Paymaster Accounts for Tier 1 (different countries governments) that were now liquid and being paid out. Dubai 2 funds for Tiers 2,3,4a (Groups) were (allegedly) released on Sun. 4 Feb. and were liquid on Fri. 9 Feb. Dubai 3 funds for Tier 4b (Us, the Internet Group) were released on Wed. 7 Feb. and would be liquid by at least Sat. 10 Feb.
Sat. 10 Feb. was the beginning of the Chinese New Year when BRICS countries would be (allegedly) informed of their new currency rates and Tier4b funds would be liquid in Paymaster Accounts.
Chance McFadden: “Was told the paperwork was just completed. The Iraq Government will (allegedly) reveal the new ‘lower denomination’ notes this week and then (allegedly) release the new Dinar Rate ($4+) to be published in the Government Gazette on Sun. 11 Feb. and then go on Forex this coming Mon. 12 Feb. – the same Mon. 12 Feb. that the Admiral is going to (allegedly) release everything.”
Fri. 9 Feb. Banker “Was included in a call that contained some very valuable information regarding our anticipated benefits but was placed on a do not reveal type NDA, so please appreciate the position I find myself in sharing other than it is very, very positive for us as well as around the Globe.
The Iraqi Stock Exchange (ISX) has(allegedly) completed their linkup…of international platforms. They are done and live. https://dinarevaluation.blogspot.com/2024/02/rv-update-by-walkingstick-2-feb.html
The new rates were(allegedly) locked in on Bank and Redemption Center screens. (You will get a better rate at a Redemption Center than if you exchanged at a bank).
On Thurs. 15 Feb. 2024. Tier4b exchanges and bond redemption will (allegedly) wrap up.
Reclamation and Restitution Allowances and increases in Social Security was expected to occur sometime in Feb. 2024.
Read full post here: https://dinarchronicles.com/2024/02/10/restored-republic-via-a-gcr-update-as-of-february-10-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question: "Are they going to put a cap on the dinar if it goes too high?" IMO this is an RI which means they should reinstate the value back to at least $3.22. That's the rate it was when it was brought down...$3.22 was back in 2003. What is it 21 years later it's still $3.22? ...It seems to me there should be at least anywhere from 20% to 30% added to $3.22 - Anywhere from $3.86 to about $4.25 would be a good capping range IMO.
Militia Man Iraq is getting praise from the international world, the globe, everybody around the world. Seven of the largest entities on the planet are reaching out... Article quote: "The seven countries, the European Union, the World Bank praised Iraq's government which with continued commitment to economic reform and stimulation the private sector and growth." These guys are stoked that Iraq is committed to economic reforms and they're giving credit where due.
Financial ‘Endgame’ In Sight, Economic Reset Looms | Willem Middelkoop
David Lin: 2-9-2024
Willem Middelkoop, Founder of the Commodity Discovery Fund, discusses the coming global financial "reset".
0:00 - Intro
2:10 - Big reset
5:07 - BRICS currency
5:55 - War on gold
8:41 - Hyperinflation, currency failures
10:41 - Central banks and monetary reset
12:14 - Currency crisis
13:08 - Aftermath of reset
14:34 - Commodity Discovery Fund
The Kuwaiti dinar is in the lead.. Learn about the 10 strongest currencies in the world during 2024
TNT:
Tishwash: The Kuwaiti dinar is in the lead.. Learn about the 10 strongest currencies in the world during 2024
The Kuwaiti dinar ranked on the throne of currencies in the world for the year 2024, while the US dollar came in last place on the list of the 10 strongest global currencies.
The dinar of the Gulf state is divided into 1,000 smaller units known as (fils).
Contrary to popular belief, the highest currency is not necessarily the most widely traded or used in international transactions, according to specialized economic websites.
While the US dollar, British pound and euro are often associated with global power and trade, they do not hold the top spot in terms of value when exchanged for the Indian rupee.
TNT:
Tishwash: The Kuwaiti dinar is in the lead.. Learn about the 10 strongest currencies in the world during 2024
The Kuwaiti dinar ranked on the throne of currencies in the world for the year 2024, while the US dollar came in last place on the list of the 10 strongest global currencies.
The dinar of the Gulf state is divided into 1,000 smaller units known as (fils).
Contrary to popular belief, the highest currency is not necessarily the most widely traded or used in international transactions, according to specialized economic websites.
While the US dollar, British pound and euro are often associated with global power and trade, they do not hold the top spot in terms of value when exchanged for the Indian rupee.
In 2024, the Kuwaiti dinar will excel in terms of exchange rate, making it the most expensive currency in the world, as it is the currency with the highest exchange rate against the dollar, and every 1 Kuwaiti dinar is worth 3.25 dollars, followed by the Bahraini dinar, which is worth 2.65 dollars. link
More News, Rumors and Opinions Friday Afternoon 2-9-2024
(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)
Bearded Patriot: NDA/RV INFORMATION:
DINAR SUMMARY The Non-Disclosure Agreement (NDA) is a fundamental process in ALL large commercial contracts.
Remember that you are about to become an "Ultra High Net Worth Individual" and your Non-Disclosure Agreement prohibits you from:
🚫 1. Talk about your date.
🚫2. What you are exchanging.
🚫3. What rates it achieved in any format.
(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)
Bearded Patriot: NDA/RV INFORMATION:
DINAR SUMMARY The Non-Disclosure Agreement (NDA) is a fundamental process in ALL large commercial contracts.
Remember that you are about to become an "Ultra High Net Worth Individual" and your Non-Disclosure Agreement prohibits you from:
🚫 1. Talk about your date.
🚫2. What you are exchanging.
🚫3. What rates it achieved in any format.
❇The first brief NDA would be electronically signed and generated by the Safe Link website from which we will obtain our T4B 800#s to make our exchange and redemption appointments.
❇The second NDA would be signed in hard copy at the exchange and redemption appointment.
All Calls and voice messages will be logged, all phone call logs will be logged, all text messages will be logged, Twitter will be monitored (if active), Facebook will be monitored (if active), all will be monitored social media and forums, all devices will connect to federal government systems and seek to cancel trade-ins for anyone who violates the Non-Disclosure Agreement by discussing VR trades, your appointments or trade-ins, etc.
These will be approximately 90 days (possibly longer) NDA's …Certain words will not be allowed to be mentioned.
❇If you need to speak to specific friends, family members, or anyone related to your projects, be sure to add them to your NDA Addendum/Waiver document.
🚫Be careful not to send unnecessary messages or information that goes against the law.
These are legal agreements that we are signing!
🚫Avoid sharing confidential information with your friends and family. Even telling your children puts you at risk…
Be very careful!
Be careful of your surroundings.
Anything you text, write or say can be used against you due to your NDA.
🚫 Don't risk it.
IF YOU VIOLATE THIS NDA YOUR FUNDS WILL BE FROZEN AND CONFISCATED.
This will take effect as you complete the information on the Safelink website.
❇There are some mechanics within the Safelink website that require you to accept NDA before receiving the 800 number to call.
If you are going to bring a guest with you to your appointment, inform the telephone operator.
They will also be asked to sign NDA and ask them to bring their KYC documents.
You will not receive responses from any moderator/administrator.
❇There are waivers for your NDA that need to know this information and are hell-bent on knowing the proof and the source of the funds, for example. lawyers, asset managers, accountants, etc.
❇They are already covered with confidentiality within their professional records.
But that doesn't mean you can't get them to sign another one with you directly.
Ask your banking team to allow you to have an NDA template that you can use back-to-back with yours. Print multiple copies.
❇When you arrive at the appointment, you will sign the NDA again with wet ink.
Ask if you can add a short list of exemptions,i.e. spouse, children, etc.
Take that list with you and make sure it is attached to the NDA before signing it.
https://t.me/Bearded_PatriotsUSA/15669
*****************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man They [Iraq] have been on steroids... ever since Al-Sudani took office and they allowed him to go to the UN assembly meeting and then over to Davos. Now the UN is talking about releasing them from UN Chapter VII sanctions because the mission from the UN is coming to a close...
Militia Man Article Quote: "Ending the mission of United Nations office in Iraq takes Iraq out of Chapter VII" Who hasn't been waiting for Iraq to get the last shackles off their back? Quote: "Chinese representatives in recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary General of the Untied Notation to end the work of the Untied Nations office in Iraq or at least reduce it and then Iraq will exit from chapter VII." ...That's pretty powerful data...Could he have already asked? ...I'm really pleased with this.
Rafi Farber: Another Banking Crisis Takes Shape, Will It Be the Final One?
Arcadia Economics: 2-9-2024
The next banking crisis looks to be upon us, as New York Community Bancorp teeters on the brink of collapse.
Ironically, NYCB was one of the rescuing banks that swooped in during last year's fiasco and soaked up the assets of the now failed Signature Bank. Guess that didn't work out so well now that Signature's benefactor is failing, too.
This comes as an estimated $1.5 trillion in commercial mortgage loans come due this year and next, so that's comforting. The developing banking disaster comes as gold and silver diverge wildly in terms of open interest, with the number of gold contracts open at 5 year lows, but silver's open interest curiously going in the opposite direction.
This is something I've never, technically speaking, actually seen before.
Over in China, 271 tonnes of physical gold were swiped off the exchange in January. That's the second biggest withdrawal ever. The brew appears to be maturing. Into what, we'll soon find out.
To find out more, click to watch the video now!
Massive Foreign Demand: Stellar Success in Today’s Record-Breaking US 10-Year Bond Auction
Massive Foreign Demand: Stellar Success in Today’s Record-Breaking US 10-Year Bond Auction
On February 7, 2024 By Awake-In-3D
In RV/GCR, Fiat Debt System Collapse
The global mother of all bonds – the US 10-Year – was in blowout demand today.
There is much confusion out there in GCR Land about US Treasuries. With reports stating there’s no foreign demand and misleading narratives about the meaning of bond prices vs. bond yields, it’s easy to get misinformed.
No worries. After reading this article you will know everything you need to know about bonds in order to accurately discern fact from hype.
Massive Foreign Demand: Stellar Success in Today’s Record-Breaking US 10-Year Bond Auction
On February 7, 2024 By Awake-In-3D
In RV/GCR, Fiat Debt System Collapse
The global mother of all bonds – the US 10-Year – was in blowout demand today.
There is much confusion out there in GCR Land about US Treasuries. With reports stating there’s no foreign demand and misleading narratives about the meaning of bond prices vs. bond yields, it’s easy to get misinformed.
No worries. After reading this article you will know everything you need to know about bonds in order to accurately discern fact from hype.
What Happened in Today’s Bond Auction
Today’s 10-year Treasury bond auction shattered records, both in terms of the amount sold and the robustness of demand. Here’s what made today’s $42 billion auction, aimed at funding government operations through debt maturing on February 15, 2034, not just historic but downright stellar.
Record Auction Size and Demand
Today’s auction was monumental, offering $42 billion in 10-year bonds—the largest amount ever for this maturity.
After a lukewarm reception to a smaller 3-Year Treasury auction yesterday, there were concerns. Would there be enough appetite for such a significant 10-Year offering?
The answer was a resounding YES.
Why Today’s Auction Was Stellar
High Yield: The bonds sold today offered a yield of 4.093%, slightly higher than last month’s 4.024%. This yield is attractive to investors looking for safety, security, and pristine collateral.
Strong Demand: The auction’s “bid to cover” ratio, a key indicator of demand, stood at 2.56. This means there were bids for 2.56 times the amount of bonds available, signaling strong investor interest.
Foreign Demand: A standout aspect was the ultra-strong demand from foreign investors, known as “indirect” bidders. Foreign demand consumed a whopping 70.1% of the auction, showcasing global appetite for safe harbor and to secure collateral. US Treasuries are considered the most pristine form of collateral on earth.
Understanding the Basics of Treasury 10-Year Auctions
Understanding the basics of Treasury 10-year auctions and their impact on bond yields versus bond prices requires a grasp of a few key concepts. Let’s break it down into simpler terms.
The U.S. Department of the Treasury issues bonds to borrow money to fund government spending. A 10-year Treasury bond is a loan to the government that pays back the initial investment plus interest over ten years.
All US Treasuries are sold via regularly scheduled auctions.
The Bond Auction Process
The Treasury sells these bonds through auctions. Investors bid on the bonds, and the yield (interest rate) is determined through this competitive process.
The auction can be of two types: competitive bids, where investors specify the yield they’re willing to accept, and non-competitive bids, where investors accept whatever yield is determined at the auction.
How Bond Yields and Prices Are Related
Bond Yield: This is the return an investor gets on a bond. The yield is inversely related to the bond’s price. When bond prices go up, yields go down, and vice versa.
Bond Price: This is determined by demand and supply in the market. Factors like changes in interest rates, economic outlook, and investor sentiment can affect bond prices.
Impact of the Auction Process on Bond Yields and Prices
Demand at Auction: High demand for bonds at an auction will generally lead to lower yields. This is because investors are willing to pay more for the bonds, which increases the price of the bond and, in turn, lowers the yield.
Supply of Bonds: If the Treasury is selling a large amount of bonds, the increased supply can lead to lower bond prices if demand doesn’t keep pace, which would increase yields.
Market Expectations: Investors’ expectations about future interest rates, economic health and inflation can affect bidding behavior. If investors expect a higher risk environment, they will demand higher yields (during the auction) to compensate for the anticipated risk.
A Practical Example
If a 10-year Treasury bond auction sees higher than expected demand, the price of the bonds will rise because investors are willing to pay more to secure the bonds.
As a result, the yield on those bonds will fall since the fixed interest payments become a smaller percentage of the bond’s higher price.
Conversely, if an auction has weak demand, the Treasury may have to sell the bonds at lower prices to entice buyers, resulting in higher yields.
The auction process for 10-year Treasury bonds is crucial in setting the yields for new bonds entering the market. This process, influenced by investor demand and broader economic factors, directly affects bond prices and yields.
In summary, today’s record-breaking 10-year Treasury auction was a testament to the strength and appeal of U.S. government bonds.
With unprecedented demand, particularly from international markets, this auction underscores the global financial community’s flight to safety and demand for pristine collateral.
Supporting article: Record Large 10Y Auction Sees Stellar Demand, First Stop-Through In 12 Months
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