Economist’s “News and Views” Sunday 6-2-2024
Is the Gold Standard Coming Back?
AMPEX: 6-2-2024
For the first time in 25 years, a country has released a gold-based currency.
The United States officially left the gold standard in 1971, and Switzerland was the last to abandon it in 1999.
But on April 30th, Zimbabwe officially launched its gold-backed currency, Zimbabwe Gold. Zimbabwe Gold (ZiG, for short) is the world’s first gold-backed currency in two and a half decades but marks Zimbabwe’s sixth currency attempt since 2009.
While this one claims the security of gold, something the previous five failed currencies didn’t have, there’s more to it than meets the eye.
Watch this video to learn more about ZiG and why BRICS is probably closely watching the currency’s success or failure.
Is the Gold Standard Coming Back?
AMPEX: 6-2-2024
For the first time in 25 years, a country has released a gold-based currency.
The United States officially left the gold standard in 1971, and Switzerland was the last to abandon it in 1999.
But on April 30th, Zimbabwe officially launched its gold-backed currency, Zimbabwe Gold. Zimbabwe Gold (ZiG, for short) is the world’s first gold-backed currency in two and a half decades but marks Zimbabwe’s sixth currency attempt since 2009.
While this one claims the security of gold, something the previous five failed currencies didn’t have, there’s more to it than meets the eye.
Watch this video to learn more about ZiG and why BRICS is probably closely watching the currency’s success or failure.
China EV Giants Ditching Germany, EU Dangerous Seizure Law, India Shifts Gold Back From London
Sean Foo: 6-2-2024
As the trade war spreads further, Chinese EV giants are calling it quits in Germany. Demand is crashing and punishments are coming so companies are leaving. This isn't good for Germany's economy.
Meanwhile, Estonia has enacted a new law to confiscate Russia's frozen reserves as the EU inches closer and closer to total seizure.
Countries like India are seeing this and taking their valuable gold reserves home. Here's what to know!
Timestamps & Chapters:
0:00 China Companies Exit Germany
3:15 As Germany Loses, Hungary Wins Big
6:49 Estonia New Confiscation Law
9:35 India Brings Home Gold From The UK
12:22 Financial Escalation Coming
MARKETS A LOOK AHEAD: FREEFALL... Another "GRAND DECEPTION" Is Unfolding.
Greg Mannarino: 6-2-2024
More News, Rumors and Opinions Sunday Afternoon 6-2-2024
TNT:
Tishwash: Iraq participates in the OPEC+ coalition meeting in Saudi Arabia
Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.
Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations. link
TNT:
Tishwash: Iraq participates in the OPEC+ coalition meeting in Saudi Arabia
Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.
Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations. link
MikeCristo8: Petrodollar Ends on June 9th
Sunday, 2 June 2024,
MikeCristo8: The world needs to understand the U.S. Treasury bond market is funded off the world needing dollar reserves aka bank derivatives (off balance sheet dollars).
When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade.
The Japanese yen will hyperinflate against their U.S. Treasury holdings.
Japan will be forced to liquidate all their dollars and U.S. treasuries that fund the Gates Foundation,
The Gates Foundation will fold. Melinda Gates leaves the Gates Foundation on Friday June 7th, two days before the petrodollar ends (June 9th). Bill and Melinda Gates knew the petrodollar was going to end.
Coincidence? No? The monetary even is going down NOW!
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Adam Gaertner : Anything concrete re: the 9th?
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MikeCristo8 U.S. Treasury must roll over $10 trillion in bonds, of which they don’t have the money. Saudi is protecting their oil against a collapsing fiat dollar. The Fed isn’t going to print this kind of money.
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Jack Straw June 9th the Agreement between United States and Saudi Arabia to sell Saudi Oil in USD exclusively ends. Saudi Prince has already notified U.S. that this agreement will NOT be renewed and they will no longer accept USD.
Video: https://x.com/i/status/1796618863599370263
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MikeCristo8 It means state banks can link up to M-BRIDGE, bypassing the SWIFT system and interface with the PBoC and the state banks could then potentially hold RMB as reserves.
===>>>>> This would allow China to control the gold price inside the U.S. state banking system!
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MikeCristo8 Does the world want dollar loans backed by nothing, or do they want RMB loans backed by gold?
China just moved in.
https://dinarchronicles.com/2024/06/02/mikecristo8-petrodollar-ends-on-june-9th/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man The totality of the Development Road Project, 1310 is not going to work. They just don't have enough money printed, period. They just don't. We're going to have to see how all that ties in with the budget because one of the things that's still on the table is the Delete The Zeros Project. If that's the case trillions turns into billions quite quickly...If they do what they say they're going to do it becomes far far cheaper.
Tishwash Article: "Iran: Iraq is one of the richest countries in the Middle East" Quote: "...Iraq is considered one of the richest countries in the Middle East, in that it possesses 85 billion dollars in foreign exchange reserves, 130 tons of gold reserves and 147 billion reserves, confirmed from a barrel of crude oil (ranked fourth in the world), explaining that it achieved from selling crude oil an income equivalent to $76 billion in 2021, and $120 billion in 2022."
Deflation ‘Intensifying’, ‘Monumental Rally’ Will ‘Shock People’ | David Rosenberg
David Lin: 6-2-2024
David Rosenberg, Founder and President of Rosenberg Research, discusses the "intensifying" deflationary pressures mounting in the economy, and their impacts on Fed monetary policy, the treasuries market, and equities markets.
0:00 - Intro
1:05 - Rate cuts towards 0%
6:48 - Inflation vs. Deflation
14:00 - Monetary policy errors
24:10 – Treasuries
26:30 - Stock market outlook
35:00 - Labor market and wages
43:00 - Home foreclosures?
45:40 - Asset allocation
“Tidbits From TNT” Sunday 6-2-2024
TNT:
CandyKisses: Parliamentary praise for this year's budget: the best since 2003
Economy News - Baghdad
The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.
Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."
He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."
TNT:
CandyKisses: Parliamentary praise for this year's budget: the best since 2003
Economy News - Baghdad
The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.
Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."
He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."
Tishwash: Before submitting it to a vote...a final meeting for the 2024 budget in the corridors of Parliament today
Deputy Chairman of the Finance Committee in Parliament, MP Ahmed Mazhar Al-Jubouri, revealed today, Sunday, an expected final meeting of the committee to resolve the 2024 budget schedules, before submitting them to a vote within the Council.
Al-Jubouri said, “The powers and directions may not allow us to make amendments to the budget tables, and this may dispel the dream of many who are waiting to make amendments to them, including appointments or governorate rights, etc., and it may be difficult to change a single letter in the tables.”
He added, “The committee will open the schedules today and will discuss the possibility of making amendments to them or passing them according to the texts that reached Parliament from the government,” indicating that today’s meeting will decide whether the schedules will be passed in tomorrow’s session or moved until after Eid al-Adha.
Al-Jubouri said, “The committee members’ orientations are with the rights of citizens, but we are waiting for today’s meeting to discuss the possibility of amending them according to the necessary requirements.”
The House of Representatives had allocated its session tomorrow, Monday, as a date to vote on the federal financial budget tables, at a time when the Parliamentary Finance Committee announced, yesterday, Saturday (June 1, 2024), the near end of its work on the federal financial budget tables for the year 2024. link
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Tishwash: Al-Aboudi: The decision to end UNAMI’s mission in Iraq is a big step towards full sovereignty
Member of the General Authority of the National Wisdom Movement, Rahim Al-Aboudi, considered the decision to end UNAMI’s mission in Iraq a big step to prove complete sovereignty.
Al-Aboudi said {to Al-Furat News} that: “The United Nations is looking with another eye at Iraq and is following up on all political, security, social and economic activities. Therefore, this transition is a merit of the Iraqi people and political forces.”
He added, "The government had a major role in this transition, and it is a major step to prove that Iraq has a different title and status and the need for complete sovereignty and dealing with the country on the basis of this entitlement."
Al-Aboudi continued, "Iraq adopted many decisions, as well as many foreign relations, whether at the level of Middle Eastern countries or countries of the world, in order to have a different role in the next stage."
He stated, "This decision has become an important responsibility for the government to affirm the right of the Iraqi people to be a growing and prosperous country. Today, Iraq is adopting a policy of calm in the region and proving itself."
Yesterday, Friday, the UN Security Council decided to withdraw the United Nations Assistance Mission for Iraq (UNAMI), which has been in the country for more than 20 years, by the end of 2025, at the request of Baghdad.
The unanimously adopted resolution stipulates extending the mandate of the mission, which was established in 2003, “for a final period of 19 months until January 31, 2025.”
The Iraqi government welcomed the UN Security Council's decision to end the mandate and tasks of the United Nations Assistance Mission for Iraq. link
Mot: Good Morning
Good Mom
More News, Rumors and Opinions Saturday PM 6-1-2024
KTFA:
Clare: Details of the parliamentary finance meeting on the final report of the 20204 budget
6/1/2024
Today, Saturday, June 1, 2024, the Finance Committee, headed by Engineer Atwan Al-Atwani and attended by its members, led its meeting dedicated to preparing the final report on the federal general budget schedules for the year 20204.
The Chairman of the Finance Committee stressed the keenness to complete all the details related to the schedules and prepare the final report in preparation for presenting it to the House of Representatives, taking into account the state’s financial path and the economic feasibility that must be studied.
The members of the committee presented views and opinions regarding the possibility of making the required transfers according to need and the economic vision in line with the public interest, as well as the importance of assessing the institutions’ need according to realistic data.
KTFA:
Clare: Details of the parliamentary finance meeting on the final report of the 20204 budget
6/1/2024
Today, Saturday, June 1, 2024, the Finance Committee, headed by Engineer Atwan Al-Atwani and attended by its members, led its meeting dedicated to preparing the final report on the federal general budget schedules for the year 20204.
The Chairman of the Finance Committee stressed the keenness to complete all the details related to the schedules and prepare the final report in preparation for presenting it to the House of Representatives, taking into account the state’s financial path and the economic feasibility that must be studied.
The members of the committee presented views and opinions regarding the possibility of making the required transfers according to need and the economic vision in line with the public interest, as well as the importance of assessing the institutions’ need according to realistic data.
The committee added the need to raise the level of ambition in terms of the necessary financial allocations for projects and distribute the amounts fairly in accordance with the law and in line with the government program. LINK
Clare: Sudanese inaugurates a digital data center that operates for 30 days without electricity
6/1/2024
Today, Saturday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani opened the digital data center at the Ministry of Interior and the traffic plate manufacturing factory, in the capital, Baghdad.
The opening took place, according to a statement received by Shafaq News Agency, in the presence of the Ministers of Interior, Planning, Communications, Higher Education, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, and a number of government and security officials.
In his speech during the opening, Al-Sudani praised the efforts of workers in the Ministry of Interior and the Iraqi company implementing the project, stressing the importance of the digital data center in preserving and circulating data.
He explained that the Ministry has made important strides in providing electronic service to citizens, which began with the passport and entry visa, and today it culminates in the completion of this center dedicated to collecting data, pointing out that the Ministry of Interior is not only a security body, but it is also a service ministry that deals directly with the citizen.
He stressed the importance of sharing data between different departments and institutions, stressing that the readiness of information will raise the level of performance of the Ministry of Interior in the field of tracking crime.
He explained that the digital data center is in line with the directives of the Prime Minister to ensure data security and sharing, and to rely on automation and digital transformation in providing services to citizens. According to the statement, this center is part of the electronic passport, electronic visa and electronic portals project concluded with the Police Martyrs Fund. It will also serve the Ministry of Interior and all its formations, such as the electronic passport systems, the electronic visa, the national card, the vehicle registration system, market licenses, criminal evidence, and the Directorate of... Identities, and will be able to support ministries and the private sector in data hosting and backup.
Al-Sudani stated that the center accommodates 200 digital data cabins, accommodates future development and expansion for the next 20 years, and was built with high specifications that allow it to continue operating for 30 days in the event of a complete national power outage.
During his speech, Al-Sudani also said: “Our government is a service government, and when service is achieved quickly and easily and we obtain the satisfaction of the citizen, then we have achieved our goal.”
He stressed that speed, accuracy and security of information is required, and that a meeting of the Supreme Committee for Digital Transformation was held to emphasize the importance of not dispersing efforts through the large number of committees.
He stressed that his directives include dealing with everything issued by the Supreme Committee for Digital Transformation as a work plan that must be implemented, and that the process of preserving information today depends on a cybersecurity system to maintain information security, stressing the necessity of keeping pace with the acceleration in electronic development, and the importance of data sharing between ministries and institutions. Various, to be provided to the Ministry of Planning, the Central Bank, and the Social Protection Network.
Al-Sudani concluded his speech by emphasizing that sharing information enables dealing with crime with quick measures, and that the readiness of information will increase performance in tracking down criminals. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article: "Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session" I BELIEVE IN JUNE 3rd FOR MANY THINGS TO COME TOGETHER.
Militia Man The House of Representatives will vote next Monday on the budge schedules...We've been waiting for it... Is it important? Is it not important? Obviously it's a focus. Article Quote: "Mustafa ... announced the House of Representatives intends to vote on the financial budget tables for the year of 2024...It will be held at 3:00 in the afternoon on Monday."
CHINA: Economic & Industrial Rise, West Asia Geopolitics, BRICS Blockchain |Prof. Warwick Powell
Lena Petrova: 6-1-2024
The Fed's Rate Cut Deception Just Got Exposed
Atlantis Report: 6-1-2024
The Federal Reserve's decisions about interest rates have significant implications for the entire economy.
There is increasing anticipation about the possibility of the Fed reducing interest rates, usually seen as a way to stimulate economic growth and prosperity.
However, as the discussion heats up, many experts have noted that the Fed might be using a bait and switch strategy, where the Fed's promises of economic boosting rate cuts may not be what they seem.
This unsettling possibility has caused concern in the financial community, leading to scrutiny and skepticism from consumers, businesses, and economic experts.
Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24
Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24
Good evening Dinar Recaps,
"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."
This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇
"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."
This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.
Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24
Good evening Dinar Recaps,
"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."
This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇
"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."
This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.
There are currently over 450 London Metal Exchange approved Warehouses around the world, and their numbers are continuing to grow. They are located across the USA, Europe, and Asia.
These active locations are ready to serve the needs of the new digital asset-based trading system. Gold and other precious metals have been on the rise since the beginning of this year. The time has come for gold's new role in our world to awaken. Market Watch LME Financial Express
Gold is the new liquidity. Gold will set us free.
© Goldilocks
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BREAKING NEWS IRAQ Trouble | Youtube
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The race toward instant payments has now begun. The new MICA regulations have set everything in motion. | The Paypers
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Russian Commodity Companies Using Stablecoins To Settle With Chinese Counterparts: Report | Daily Hodl
Russian Commodity Companies Announcement:
Russian commodities firms are reportedly using the top stablecoin USDT to execute financial transactions with Chinese companies.
Bloomberg, citing “top executives at the companies,” reports that at least two metals producers in Russia use the Tether-issued stablecoin and other crypto assets to facilitate cross-border transactions with clients and suppliers in China.
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RBI relocates 100 tonnes of gold from UK to its Indian vaults: Report | LiveMint
RBI relocated over 100 tonnes of gold from UK to India for logistical and storage reasons, hinting at more gold entering the country soon. This move follows RBI's recent acquisition of 27.5 tonnes, increasing its total gold holdings to 822.1 tonnes by March.
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SEC Announcement:
Washington D.C., May 31, 2024 —
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on June 6, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. SEC
The committee will host two panels:
* Examining the New Frontier for Investment Advice
* AI Regulation: Embracing the Future
The committee will also discuss potential recommendations regarding the Protection of Self-Directed Investors when Trading Complex Products and Utilizing Complex Strategies and Financial Literacy and Investor Education.
The Investor Advisory Committee, which focuses on investor-related interests, advises the Commission on regulatory priorities and various initiatives to help protect investors and promote the integrity of the U.S. securities markets. Established by the Dodd-Frank Act, the Committee is authorized by Congress to submit findings and recommendations to the Commission.
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Fed’s Wait-and-See on Rate Cuts Supported by Worst 6-Month “Core” & “Core Services” PCE Inflation since mid-2023 | Wolf Street
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The UK recently conducted a consultation about its Digital Securities Sandbox (DSS), which eases legal requirements for central securities depositories. The aim is to enable tokenization initiatives to issue, trade and settle digital securities. | Ledger Insights
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BIS shares how Project Agorá aims to tokenize correspondent banking - Ledger Insights - blockchain
Bank for International Settlements Announcement:
Last month the Bank for International Settlements (BIS) Innovation Hub unveiled Project Agorá, its ambitious project with seven central banks to transform cross-border payments with tokenization. It proposes using a Unified Ledger involving wholesale central bank digital currencies (wCBDC) and tokenized deposits on a shared infrastructure to execute payments. Today the BIS released a short paper on “Next generation correspondent banking“, which outlines the vision for Agorá. A large part of that relates to how compliance is dealt with.
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Securities & Futures Commission of Hong Kong Announcement | Finance Magnates
SFC Warns of June 1 Deadline: Comply or Face Legal Consequences
Virtual asset trading platforms must be licensed by June 1, 2024, or face criminal charges
The regulator urges investors to trade only on licensed platforms.
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First Green Security Token Offering for New Energy Vehicles Charging Network in Hong Kong - The Tokenizer
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Join the Seeds of Wisdom Team SNL call with Freedom Fighter breaking down Goldilock's weekly posts! Jester will be joining too! SNL Call Link
9 pm EDT / 8 pm CDT / 6 pm PDT
The SNL Q & A room will be open at 8 pm ET, 7 pm CT, and 5 pm PT to ask questions that will be answered on the call!
The call will be recorded and you can find it in the Archive Call Room after the call is over.
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“Tidbits From TNT” Saturday 6-1-2024
TNT:
CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government
Saturday 01, June 24
Baghdad / Nina / The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.
Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."
TNT:
CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government
Saturday 01, June 24
Baghdad / Nina / The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.
Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."
He added: "The entire international community has placed its confidence in Prime Minister Mohammed Shia Al-Sudani, especially after the international, regional and Arab openness and its positive effects in the advancement and advancement of Iraq and its auspicious and influential return as an important and effective element in the Arab, regional and international environment and its great participation in solving important issues and spreading the principles of brotherhood, peace and stability in the region and the world, distancing oneself from external conflicts and moving away from the policy of axes."
CandyKisses: Iraq announces the arrival of approximately 24,400 pilgrims to the Holy Land so far
Economy News - Baghdad
Today, Friday, the Supreme Commission for Hajj and Umrah counted Iraqi pilgrims traveling by land and air to the Holy Land, while confirming the existence of coordination with the Central Bank and banks to sell dollars to pilgrims at the official rate
"The voyage process is continuing, whether by air through Baghdad, Najaf, Basra, Erbil, Sulaymaniyah and Kirkuk airports to Madinah airport - Prince Mohammed bin Abdulaziz airport, directly, as well as the voyage through the Arar border crossing, where pilgrims are escorted by security forces to the Arar border crossing," said spokesman Hassan Fahd al-Kinani.
Al-Kinani added that "pilgrims pass through the city of pilgrims and Umrah performers, which was established in a record period not exceeding sixty days, and there are all the amenities that the pilgrim needs, and it contains restaurants, a bakery, a factory for the production of crystal ice, and a dream, where breakfast, lunch and dinner are served when the pilgrim stays there, and then at the Arar border crossing, where the procedures are easy and easy."
"The number of pilgrims traveling by land and air to the Holy Land has reached about 24,400, half of whom are now in Medina and the other half have moved to Mecca after visiting the Holy Prophet (peace be upon him)," he said.
Regarding coordination with the Central Bank to obtain the dollar, Al-Kinani explained that "there is coordination with the Central Bank, Al-Rasheed and Rafidain Banks, and the Hermit Bank, which has been since the beginning of the regiment in the process of exchanging dollars to pilgrims, in addition to the Iraqi Trade Bank and exchange companies, all of which are on the official website of the Commission. Any pilgrim to the Holy Land can access the official website of the Commission through social networking sites or on the official website of the Commission in order to know where to sell dollars at the official rate for for pilgrims of Baghdad and the provinces."
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TishwashL Al-Sudani: “The development road” means linking the East to Europe through Iraqi lands
Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.
Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”
He stressed that the path of development is essentially to restore this historical role, and linking the port of Al-Faw to the Turkish border means, according to current market equations and international trade movement, a link between the East and Europe via Iraqi and Turkish lands together.
The Prime Minister explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.
He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”
He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.
Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.
Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “
He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”
Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.
He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.
The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”
Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.
He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.
Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.
Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.
He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.
He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”
The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.
He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.
He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.
Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.
According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion link
Mot: Can You Believe This!!??? -- I'm Still Wondering What Happened to March!!!
Mot: . Finally !!! -- the Seniors Version of ~~~~~ facebook
Ariel: How Will Iraq Finance The Revaluation: The Pay Off
Ariel: How Will Iraq Finance The Revaluation: The Pay Off
An example.
First off, I’ll use the exchange of a 50,000 IQD (Iraqi Dinar) note as my example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), considering the current global economic environment, Iraq’s gold reserves, numerous trade deals, and its financial independence from the fiat USD.
What You Will Receive:
If you were to cash in your 50,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $49,000 credited to your bank account.
Keep in mind you will more than likely be able to wave many bank fees. So do not worry about that.
Ariel: How Will Iraq Finance The Revaluation: The Pay Off
An example.
First off, I’ll use the exchange of a 50,000 IQD (Iraqi Dinar) note as my example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), considering the current global economic environment, Iraq’s gold reserves, numerous trade deals, and its financial independence from the fiat USD.
What You Will Receive:
If you were to cash in your 50,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $49,000 credited to your bank account.
Keep in mind you will more than likely be able to wave many bank fees. So do not worry about that.
What Your Bank Will Receive:
Your bank will receive a $50,000 credit to its account with the US Treasury. They will also be able to add the $1,000 profit to their “capital account.”
Ultimately, the bank wins because they are able to gain $10,000 in lending power under the 10% “Fractional Banking” model.
What the US Treasury Will Receive:
First off, the US Treasury will receive $17,500 in estimated taxes in the quarter after the exchange, because you are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the “net cost” of the IQD exchange to the US financial system to $32,500 USD (i.e., $50,000 out – $17,500 in).
Again this is only an example using what people assume about taxes based on the current system they are familiar with. We know bills have been passed that makes precious metals non-taxable. I want you all to read this with that in mind.
Furthermore, the US Treasury’s rate is higher than the banking rate (we will use in this example 1.25), thereby further reducing their “net cost” from $32,500 to $20,000.
Gold Reserves and Economic Stability:
Iraq’s substantial gold reserves, estimated at around 96 tons, provide significant economic stability and backing for their currency. This gold reserve bolsters confidence in the dinar and supports the revaluation process.
Trade Deals and Debt Status:
Iraq has established numerous trade agreements with countries such as China, India, and members of the European Union, boosting their economic resilience. Additionally, having paid off their international debts, Iraq’s financial position is more robust, making the revaluation more feasible.
In 2022, Iraq and China finalized multiple oil agreements, including a significant 25-year deal for the Mansuriya field. These deals enhance Iraq’s oil export capacity and strengthen economic ties between the two countries.
India also remains a major trade partner, with substantial imports of Iraqi crude oil. In 2022, Iraq exported $38.8 billion worth of crude oil to India, reinforcing the strategic energy partnership between the two countries.
Iraq has maintained strong trade relations with Turkey, with significant exports of hydrocarbons. The ongoing collaboration includes investments in infrastructure and trade facilitation.
Iraq has bolstered its trade relationship with the UAE, focusing on imports of refined petroleum, broadcasting equipment, and cars. In 2022, the UAE was one of Iraq’s largest import partners, contributing $21.2 billion to Iraq’s trade volume.
Iraq has sought to enhance trade relations with Jordan and Egypt. One notable initiative is the planned highway between Baghdad and Cairo via Amman, aimed at boosting regional trade and cooperation.
Moving Away from Fiat USD:
By reducing its reliance on the fiat USD and engaging in bilateral trade agreements using local currencies and gold-backed transactions, Iraq enhances its economic sovereignty. This shift supports the stability and strength of the IQD in the international market.
Oil Now Enters the Picture:
At some point, a Treasury-appointed agent orders $62,500 worth of oil from Iraq. Payment will consist of a $62,500 transfer from the Treasury’s foreign currency reserve IQD account to the Iraq oil payment account at the CBI (Central Bank of Iraq) in a form otherwise known as PetroDollars/PetroDinar. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties.
How The CBI Recaptures The Money:
The $62,500 order is filled with 1,250 barrels of oil based on the spot price on the date of the sale (for this example, we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? They have negotiated production agreements for approximately $2 USD/barrel. From that price, $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.50, the other oil field partners have to pay the Iraq government a profit tax of $.53 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.97 USD. (i.e., $2 – .50 – .53)
What does all that mean? It costs Iraq $1,212.50 to bring back a 50,000 IQD note! Can they afford that? I think so! So, instead of paying out $62,500 for a 50,000 IQD note, they only pay $1,212.50! That doesn’t add to the money supply much at all, does it? They receive their IQD back and place it in the CBI, or destroy it.
Summary of Economic Impact:
The transaction is completed with the US Treasury exchanging foreign reserve credits which are equal to $62,500 USD (which had a net acquisition cost of $20,000 USD for the US) for 1,250 barrels of oil (which has a TOTAL COST to produce of $1,212.50 USD for Iraq).
More completely explained, and simply put, it costs Iraq $1,212.50 USD from their foreign currency reserve accounts to redeem the value of 50,000 IQD, which goes into their operating accounts. At the same time, the US got $62,500 worth of oil for a net cost of $20,000. This is how the plan for Iraq to RV at 1 IQD = 1 USD is made possible, with the variable being the political element.
Other Factors that Strengthen Iraq’s Position and Ability to RV:
1. **Gold Reserves**: With approximately 96 tons of gold reserves, Iraq has a strong foundation to support its currency revaluation.
2. **Debt-Free Status**: Iraq has paid off its international debts, providing financial stability and credibility.
3. **Increased Oil Production**: Iraq plans to increase oil production from 2+ million barrels/day to 10 million barrels/day, significantly boosting revenues.
4. **Diversified Trade Deals**: Iraq’s numerous trade agreements with various countries enhance its economic resilience and reduce dependency on any single market.
5. **Reduced Reliance on Fiat USD**: By moving away from the fiat USD, Iraq enhances its economic sovereignty and stability.
Conclusion:
This comprehensive plan showcases how Iraq can afford to revalue its currency, benefiting all parties involved. The robust economic strategies, supported by significant gold reserves, trade agreements, and a shift away from fiat USD, make the revaluation not only feasible but also beneficial for the global economy.
In this scenario, EVERYONE WINS, and the IQD is gradually taken back into the CBI, eventually destroyed, leaving a manageable money supply behind. This process creates substantial wealth, supporting global economic regeneration and stability.
News, Rumors and Opinions Saturday AM 6-1-2024
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 Sat. 1 June 2024
Compiled Sat. 1 June 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Judy Note: In my opinion it appeared that regulations for the Global Currency Reset were finalized on Wed. 29 May 2024. Tiers 1 and 2 have been funded, while Bond Holders have not.
Tier 3 was apparently under Non Disclosure Agreements so they may already have liquidity. Tier4b (Us, the Internet Group) could be notified for exchange appointments any time from now to Tues. 4 June, with a final D Day of Thurs. 6 June.
The Tier4b exchange/ bond redemption process was hoped to be finished by Sat. 15 June and if not, there was a back wall date of Thurs. 4 July when it was believed that the GCR would be announced to the General Public.
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. 1 June 2024
Compiled Sat. 1 June 2024 12:01 am EST by Judy Byington
Global Currency Reset: (Rumors/Opinions)
Judy Note: In my opinion it appeared that regulations for the Global Currency Reset were finalized on Wed. 29 May 2024. Tiers 1 and 2 have been funded, while Bond Holders have not.
Tier 3 was apparently under Non Disclosure Agreements so they may already have liquidity. Tier4b (Us, the Internet Group) could be notified for exchange appointments any time from now to Tues. 4 June, with a final D Day of Thurs. 6 June.
The Tier4b exchange/ bond redemption process was hoped to be finished by Sat. 15 June and if not, there was a back wall date of Thurs. 4 July when it was believed that the GCR would be announced to the General Public.
Fri. 31 May 2024 Wolverine: “It’s been a very emotional day. I will be having a very special live call. We are just inches away from getting that opera out for you guys. We are finally nearly there. My last call is Fri. 31 May 8:30 pm EST.”
Fri. 31 May 2024 MarkZ: Bond people have not yet been paid.
Everything on the new QFS either relates to gold, or it is backed by a precious metal. These new digital standard protocols will be the mechanism by which money is moved going forward. The future of money is in gold. Everything the world touches going forward will be because of a metal asset that enables it to do so.
Global Financial Crisis:
Australia’s Bankwest Bank has announced that it will close all its branches and ATMs by the end of 2024, in order to become a fully digital bank. Coming soon to a bank near you, as part of the globalist push towards programmable CBDCs.
Bank of America lost its case. SCOTUS decision just confirmed that the US has a dual banking system with Federal and State chartering. Let the decentralization of bank power begin.
Fri. 31 May 2024: RV GESARA! GCR Roadmap 5 & The Brewing Banking Sector Crisis: A Ticking Financial Time Bomb – American Media Group (amg-news.com)
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US Debt Clock: May 26, 2024 We, The People, are the SOLUTION.
United USA Dollar = an asset-backed form of wealth preservation with a limited supply that appreciates over time. It is a transparent and verifiable real-world asset, serving as a debt-free currency payable to the bearer. This new USA Treasury certificate is backed by 100% of “We the People” assets, including gold, silver, copper, oil, gas, equity markets, agriculture, real estate, mining, and new energy sources like thorium.
Vs
Divided FED Dollar = an unsecured perpetual debt instrument representing an infinite supply of money that has never been audited. It functions as a mechanism for wealth redistribution, utilizing a secretive, leveraged counterfeit derivative known as the Federal Reserve note. This system’s origins trace back to 1913 when President Woodrow Wilson effectively transferred control of the U.S. financial system to bankers by establishing the Federal Reserve. These bankers use the Federal Reserve’s debt-based system as reserves. The Federal Reserve note, particularly after being removed from the gold standard in 1971, is backed by nothing tangible. This system was never intended to be repaid; rather, it was designed to transfer wealth to the top 1% and the bankers who convened at Jekyll Island. The division of the Federal Reserve Dollar arises from the extensive manipulation in the financial sector, leading to an unsustainable level of debt and an imminent financial bubble on the verge of bursting.
Read full post here: https://dinarchronicles.com/2024/06/01/restored-republic-via-a-gcr-update-as-of-june-1-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The TV just said the main objective of the second phase of the banking system is to have the Iraqi dinar regain its former strength. They also said they are expecting the budget to be passed before the 9th of June. FRANK: They are telling you they are still on course to add value to your currency. Nothing has stopped... FIREFLY: They just said it that budget when approved will need a new rate to make it work correct. FRANK: Don't you love it when your leaders tell you their goal is to regain the value of your currency because this is what they promised you.
Mnt Goat I wanted to share an interesting conversation I had...with my CBI contact this past Wednesday...I was told that the committee to work on the Project to Delete the Zeros has sent the CBI prepared articles to the news media for the sake of educating the citizens on the upcoming process. However, they are dated and so they are for the near future and not for current news. Yes, they are getting ready and moving ahead.
LIVE! (Are You Ready For It?) A Hyper-Inflationary Event May Not Be Too Far Off.
Greg Mannarino: 5-31-2024
Steve Forbes on The New Gold Standard with Guest Philip Patrick from Birch Gold
The Liberty Report: 5-31-2024
The New Gold Standard is coming, as told by famous economist Steve Forbes...Tune in to this Episode with Ron Paul and Special Guest Phillip Patrick from Birch Gold as they discuss the future of gold and the economy.
Goldilocks' Comments and Global Economic News Friday Evening 5-31-24
Goldilocks' Comments and Global Economic News Friday Evening 5-31-24
Good Evening Dinar Recaps,
"Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq.
The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July."
Professor Gunter shows an analysis on the drivers inside the market that impact the Iraqi Dinar exchange rate and how to close the gap between the Parallel Market and Official Rate of the Iraqi Dinar.
Goldilocks' Comments and Global Economic News Friday Evening 5-31-24
Good Evening Dinar Recaps,
"Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq.
The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July."
Professor Gunter shows an analysis on the drivers inside the market that impact the Iraqi Dinar exchange rate and how to close the gap between the Parallel Market and Official Rate of the Iraqi Dinar.
The Iraq Britain Business Council (IBBC) has been working closely with Iraq to help assess and meet the needs of the Iraqi private sector. These assessments inside this research paper will go a long way towards the implementation of meeting the needs of Iraq's private citizens through a determination of an exchange rate that can do so.
Practical policy initiatives are mentioned in this paper to carry forward new monetary policies. They are not calling this project a white paper, but it sure does have all the hallmarks of one.
These new measures are inclusive of budgetary needs for the Iraqi people. One of the items on the CBI website presented today is instructions on home loans. A mortgage is calculated with the inclusivity of an exchange rate to support it.
It is clear that the Iraqi Dinar is moving towards a credit valuation adjustment that can support the needs of their people and Government.
Iraq Britain Business Investopedia Iraq Britain Business 2 Indeed CBI
© Goldilocks
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"The path to adopting digital asset securities begins with collaboration. Introducing the Digital Asset Securities Control Principles framework, in collaboration with @Clearstream, @EuroclearGroup and @BCG."
This is the Depository Trust and Clearing Corporation (DTCC) White Paper that describes our movement towards T+0 settlements or instant settlements.
In order to achieve the full spectrum of the QFS being utilized as a Global Economic System, instant settlements have to be in play to level the playing field. Asset Servicing Times DTTC Ledger Insights
We now have a framework to work from to move towards achieving these objectives.
© Goldilocks
LINK to the white paper document : okt.to/1kdFLM
Twitter
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"Commissioner Pham Announces Agenda for Global Markets Advisory Committee Meeting on June 4" | CFTC
Meeting Agenda:
* Basel 3 Capital proposals and impacts
* Trading impacts with these new credit valuation adjustments
* Impact on Global Market Structures and how this affects liquidity swaps at swap execution facilities
Do you see how we are moving into a phase whereby research on credit valuations and their adjustments are becoming important?
This report will include an assessment of where the International community is at the present time in the integration into the QFS.
© Goldilocks
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Let's take a closer look at hype today. "To promote or publicize (a product or idea) intensively, often exaggerating its importance or benefits."
In society, hype can significantly influence what people think and buy. It is a form of manipulation used for a specific outcome that usually focuses on giving attention to the one sharing its contents.
When you provide an idea that is bigger than it actually is, you alter a person's mind and emotions to focus his or her attention towards the creator of its contents.
This kind of stimulus/response over time has the ability to control the overall actions and mindset of a person to the point of losing a concept of reality that separates a person from self-reflection and self-determination.
Here, a dependency is created for their followers who have not been empowered to think for themselves and totally rely upon their leaders to determine their minds and emotions experiences.
We at the "Seeds of Wisdom Team" have been focusing on factual content to help get us to the end of this ride known as the Global Currency Reset.
We are at this point whereby paying close attention to facts is so valuable to the determination you make at the time of your exchange.
I know I speak for the entire team when I say that it has been a privilege to serve the authentic needs of this community with integrity and dignity.
God Bless each of you.
© Goldilocks
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The Singapore Innovation Hub Centre | Youtube
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BISness podcast - Finternet: the financial system for the future | Youtube
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Bearish Dow future 37,500.
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More News,, Rumors and Opinions Friday Afternoon 5-31-2024
Gold Telegraph: Zimbabwe is Now Experiencing Deflation with ZiG
Friday, 31 May 2024,
Gold Telegraph @GoldTelegraph
After years of devastating inflation, Zimbabwe is now experiencing deflation with the introduction of its gold-backed currency. Hilarious. It has gained 1.9% against the dollar since it was launched.
Gold is like a magic remedy for a broken economy.
Gold Telegraph: Zimbabwe is Now Experiencing Deflation with ZiG
Friday, 31 May 2024,
Gold Telegraph @GoldTelegraph
After years of devastating inflation, Zimbabwe is now experiencing deflation with the introduction of its gold-backed currency. Hilarious. It has gained 1.9% against the dollar since it was launched.
Gold is like a magic remedy for a broken economy.
TNT:
Tishwash: Iran: Iraq is one of the richest countries in the Middle East
The head of the Department of Land Development and Regional Development at the Iranian Planning and Budgeting Organization, Jaafar Hosseini, announced the export of 2,200 Iranian goods to Iraq, amounting to about 12 billion dollars, while noting that Iraq is one of the richest countries in the Middle East.
On Monday, a meeting was held entitled “Discussing the opportunities and challenges of attracting Iraqi investors and enhancing bilateral trade relations in line with Iran’s position in regional value chains,” in the presence of representatives of the Ministry of Foreign Affairs, the Iranian Investment and Economic and Technical Assistance Organization, the Iranian Trade Development Organization, and the Iranian Chamber of Commerce, Industry, Mines and Agriculture.
The meeting included representatives of the two countries' foreign ministries, the Iranian Investment and Economic and Technical Assistance Organization, the Iranian Trade Development Organization and the Iranian Chamber of Commerce, Industry, Mines and Agriculture.
Jaafar Hosseini said in press statements: Since we are at the beginning of the Seventh Plan, and with the aim of financing this plan, attracting local private sector funds and foreign investments, especially from neighboring countries, have been included on the agenda.
He added: Iraq is considered one of the richest countries in the Middle East, in that it possesses 85 billion dollars in foreign exchange reserves, 130 tons of gold reserves and 147 billion reserves, confirmed from a barrel of crude oil (ranked fourth in the world), explaining that it achieved from selling crude oil an income equivalent to $76 billion in 2021, and $120 billion in 2022.
He explained that, with the establishment of relative stability in Iraq and the development of cooperation and trade infrastructure between the two countries over the past twenty years, Iranian exports to Iraq have grown significantly to achieve 15-fold, rising from about 600 million dollars in 2003 to more than 10 billion dollars in the year. the past.
He stated that out of 3,500 Iranian goods exported to the world, there are currently more than 2,200 goods currently exported to Iraq, pointing out that more than half of Iranian traders active in global markets are present in the Iraqi market, and Iranian exports to Iraq are not limited to goods only, but go beyond This includes technical and engineering services and electricity, which are other important elements of Iranian exports to Iraq, which amounted to about 12 billion dollars.
Referring to the strengthening of trade and economic relations between Iran and Iraq, Hosseini stressed the need to strengthen the commercial infrastructure of Kermanshah Province as it is the most important route and corridor for Iran’s exports to Iraq, adding that it is necessary to develop the commercial infrastructure in order to facilitate and simplify trade between the two countries, and to educate and encourage merchants to Investing in Iraq, developing business by sending and receiving business delegations, participating in exhibitions in both countries, establishing Iranian business centers in Iraqi cities, and enhancing the trade balance by developing imports from Iraq.
Hosseini said that despite the large oil income that Iraq has achieved in recent years, the unemployment rate in this country is very high, especially among young people, and he indicates that consumer industries are very important for this country in order to create job opportunities and attract foreign capital.
Hosseini touched on the important and priority activities of Iran in Iraq, including: compensating part of the trade surplus surplus with Iraq by importing oil from this country and exporting it from the port of Jask, and assisting in the presence of Iranian companies in the field of distributing petroleum products, especially in downstream and upstream activities, and establishing A complex network at the retail level in order to help provide job opportunities for Iraqi youth, and also develop platforms related to the distribution of goods and services or transportation within cities to help the employment situation, especially for educated youth.
He added: In addition, establishing joint border industrial cities with the aim of transferring part of the value chain of industries used in the fields of food industries or textile industries to Iraq, taking into account the possibility of re-exporting from this country, and also establishing a trade corridor to import food products from Central Asia. Russia and export local products from the western borders.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is showing a report on paper from IBBC on the de-dollarization inside of Iraq. They're telling us they've been doing it all this time...They even talk about that part from the World Bank discussion on changing the dinar exchange rate. It's powerful. This is all on the news. FRANK: The monetary reform education to you citizens will get very loud...
Yada Article: "Parliament sets next Monday as the date for the session to approve the budget schedules" ...we are not waiting on their vote, their vote will happen after the release of the rate. IMO, the rate for the budget voted upon in June 2023 is what we are about to see...any moment. The budget they vote on on Monday is the rate change for the newest contract since Jan 24 this year...All the more expecting to see the rate any moment now.
BRICS Bombshell: Thailand’s Membership Bid Confirms Asia’s De-Dollarization Shift
Sean Foo: 5-31-2024
In a big update, Thailand is moving fast to be the first Southeast Asian country to join BRICS. This ASEAN country wants to find bigger economic opportunities, especially with China, to grow their economy.
This spells economic doom for the West & the US financial system. De-dollarization will continue to accelerate and the multi-polar world is forming fast.
Timestamps & Chapters:
0:00 Thailand's Bombshell Bid
2:41 Asia Pushes De-dollarization
5:49 Cheap Commodities & Faster Growth
8:46 Why Asia Chooses BRICS
12:11 BRICS Will Isolate G7
LIVE! Economic MELTDOWN Worsens. FAKE GDP Numbers. Home Sales NOSEDIVE. Trade Gap WIDENS.
Greg Mannarino: 5-31-2024
Economist’s “News and Views” Friday 5-31-2024
Crisis For Bullion Banks Amid Surging Metal Prices | Alasdair Macleod
Liberty and Finance: 5-31-2024
Physical silver and gold are being drained from the major exchanges, and the bullion banks are losing control of the gold and silver prices, according to bullion researcher and former bank director Alasdair Macleod .
This could lead to a crisis on the exchanges and a crisis for bullion banks. While the prices of precious metals have been manipulated in the West, the West has spread anti-gold propaganda, says Macleod.
But the East has continued to accumulate, probably far more than what is officially reported.
Gold is certainly going to reassert itself as money, he says, and the remonetization of gold will spell disaster for the Dollar.
Crisis For Bullion Banks Amid Surging Metal Prices | Alasdair Macleod
Liberty and Finance: 5-31-2024
Physical silver and gold are being drained from the major exchanges, and the bullion banks are losing control of the gold and silver prices, according to bullion researcher and former bank director Alasdair Macleod .
This could lead to a crisis on the exchanges and a crisis for bullion banks. While the prices of precious metals have been manipulated in the West, the West has spread anti-gold propaganda, says Macleod.
But the East has continued to accumulate, probably far more than what is officially reported.
Gold is certainly going to reassert itself as money, he says, and the remonetization of gold will spell disaster for the Dollar.
INTERVIEW TIMELINE:
0:00 Intro
1:30 Physical silver & gold supply
12:08 Inflation & depression
34:30 Banking system
40:07 Anti-gold propaganda
48:15 Gold reserves
Citigroup Sounds The Alarm On Complete Economic Collapse
Atlantis Report: 5-31-2024
Citigroup, one of the world's leading banks, has made a shocking announcement about the looming threat of a complete economic collapse.
This alarming forecast comes amidst growing concerns over the state of the labor market, which has shown signs of deterioration that could have far-reaching consequences for the nation's economic stability.
The warning has prompted governments, corporations, and individuals to prepare for an unprecedented economic calamity.
US Panic: FED Admits The Economy & Dollar In Danger As Countries Lose Faith In U.S. Debt
Sean foo:
The US economy is in trouble and the Fed has admitted even the dollar is facing danger as well. Because of uncontrolled deficit spending and sanctions, America's economic path is unsustainable. Here's why countries are exiting US debt and why the ending looks bad.
Timestamps & Chapters:
0:00 Fed US Dollar Warning
2:46 Countries Exiting US Debt
5:55 Unsustainable Spending Crisis
7:46 Sponsor: Indigo Precious Metals
9:12 Deadly Debt Spiral
10:51 Protectionism Backfires Bad
13:08 America's Big Trust Deficit