More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24
More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24
Good evening Dinar Recaps,
Multiple Chinese banks announced their involvement in the mBridge cross-border central bank digital currency (cross-border CBDC) trials after the initiative launched its minimum viable product (MVP) last week.
At least nine Chinese institutions are involved in the project, although that figure might now expand with the MVP. | Ledger Insights
More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24
Good evening Dinar Recaps,
Multiple Chinese banks announced their involvement in the mBridge cross-border central bank digital currency (cross-border CBDC) trials after the initiative launched its minimum viable product (MVP) last week. At least nine Chinese institutions are involved in the project, although that figure might now expand with the MVP. | Ledger Insights
Stablecoin issuer Paxos cuts 20% of its staff as PayPal receives Trust charter | Ledger Insights
Stablecoin issuer Paxos sent an email to staff saying it’s cutting its workforce by 65 people or around 20% of its staff. That’s according to The Block and Bloomberg, who viewed a company-wide email that Paxos confirmed. The move comes despite a strong balance sheet. Two weeks ago we reported that PayPal received a New York trust charter for digital assets, which it has not yet formally announced. The two pieces of news may be related.
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Introducing Ripple USD (RLUSD) | The Crypto Basic
A 1:1 USD-backed stablecoin, offering transparency and stability on the XRP Ledger and Ethereum. Coming later this year.
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Worldwide - Oil, Gas & Electricity - Another Major European Bank Withdraws From Fossil Fuel Financing | Mondaq
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United States - Renewables - Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance | Mondaq
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More News, Rumors and Opinions Thursday PM 6-13-2024
TNT:
Tishwash: Iran offers Iraq its contribution to the path of development
Iran offered the Iraqi government to participate in the strategic development path.
This came during a meeting between Prime Minister Muhammad Shia al-Sudani, today, Thursday, with Acting Iranian Foreign Minister Ali Bagheri and his accompanying delegation.
At the beginning of the meeting, Al-Sudani renewed his condolences for the incident that claimed the lives of the Iranian President, the Foreign Minister and their comrades, stressing that Iraq will continue its approach towards strengthening relations with the Islamic Republic and consolidating the foundations of constructive cooperation, in a way that achieves the interests of the two neighboring countries and the prosperity of their peoples, according to a statement from Al-Sudani’s office.
He added: "The meeting witnessed discussion of the regional and international situation, the developments of the aggression in Gaza and its tragic consequences on the humanitarian level, the brutal crimes committed by the occupation forces on a daily basis against the Palestinian people, and the necessity of serious efforts by the international community to stop the aggression and avoid the expansion of the conflict in the region."
TNT:
Tishwash: Iran offers Iraq its contribution to the path of development
Iran offered the Iraqi government to participate in the strategic development path.
This came during a meeting between Prime Minister Muhammad Shia al-Sudani, today, Thursday, with Acting Iranian Foreign Minister Ali Bagheri and his accompanying delegation.
At the beginning of the meeting, Al-Sudani renewed his condolences for the incident that claimed the lives of the Iranian President, the Foreign Minister and their comrades, stressing that Iraq will continue its approach towards strengthening relations with the Islamic Republic and consolidating the foundations of constructive cooperation, in a way that achieves the interests of the two neighboring countries and the prosperity of their peoples, according to a statement from Al-Sudani’s office.
He added: "The meeting witnessed discussion of the regional and international situation, the developments of the aggression in Gaza and its tragic consequences on the humanitarian level, the brutal crimes committed by the occupation forces on a daily basis against the Palestinian people, and the necessity of serious efforts by the international community to stop the aggression and avoid the expansion of the conflict in the region."
It was also emphasized that the joint committees would continue to hold their meetings, and the actual implementation of the memorandums of understanding signed by the two countries in the sectors. Energy, security, education, transportation, and other vital economic fields.
For his part, Bagheri expressed his thanks to Iraq for its solidarity with the Islamic Republic of Iran regarding the president’s plane accident. He also praised Iraq’s pivotal role in the region and its constant endeavor to enhance stability by bringing viewpoints closer between countries. He also affirmed Iran’s support for Iraq’s efforts in implementing the Strategic Development Road Project. And her willingness to contribute to it.
Turkey, Iraq, Qatar, and the United Arab Emirates recently launched a new trade route linking the Gulf to Europe as part of an effort to strengthen economic relations. This road is called the Development Road, and it is the newest economic corridor in the region after the Chinese Belt and Road Initiative and the economic corridor between India, the Middle East and Europe.
The project, which was completed during Turkish President Recep Tayyip Erdogan's visit to Baghdad on April 22, is expected to cost $20 billion, with most of the financial support coming from Doha and Abu Dhabi. link
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Tishwash: Mohammed Shukri: The Kurdistan Region can provide a suitable environment to attract investors
The Chairman of the Investment Authority in the Kurdistan Region, Dr. Muhammad Shukri, confirmed on Thursday, June 13, 2024, that the Kurdistan Region can provide a suitable environment to attract foreign investors.
Shoukry told Kurdistan 24: "The Board of Investment signed a cooperation agreement with the International Finance Corporation of the World Bank to benefit from expertise and technical support, strengthen the legal framework, facilitate investment procedures and effectively encourage the local and foreign sectors."
He added: "Through collective efforts with representatives of the institutions and ministries present, we can turn these visions into reality, because working together is the basis for an attractive environment for investment, promotes economic growth, and brings prosperity to the people of Kurdistan."
The President of the Kurdistan Regional Government, Masrour Barzani, confirmed at the end of last month that the Kurdistan Region is a stable and safe place for investment.
Masrour Barzani said, in a post on the X platform, after the opening of the Qatari consulate, Sunday, May 26, 2024, that "the opening of the Consulate General of the State of Qatar in Erbil is a starting point for the further development of our relations.
He added: "The Kurdistan Region is a stable and safe place for investment."
"We call on Qatari investors and tell them that the regional government is ready to provide all facilities," he said.
"Last year, the first shipment of Kurdistan's agricultural exports arrived in the Qatari market."
"We are also having talks on industry, banking and renewable energy." link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Nader From The Mid East Last week...I said Iraq government start a new white paper, it's all about the currency. From here to the 8th of July we should have an answer. What they going to do - Are they going to change the exchange rate or not? That's what I said exactly. They're working on it. I know they created a white paper on that. The CBI... government of Iraq, the reserve and the IMF are all working on the same page on those white papers. I don't know if it's going to change or not...
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani came out and again he says to us the dinar is stronger than the dollar. FRANK: Your contracts are being rewritten because your dinar is strong now. FIREFLY: Then he said that Iraqi people will see a significant increase in the exchange rate this year. He's saying all this in a recorded speech. He's talking about the economy and how we're growing and what is expected. FRANK: Like I told you, the monetary reform education would get louder and louder into this month. It looks like they're using a megaphone to scream it to you. These are exciting time for your monetary reform, for your country, for the value of your currency.
When Fed Pivots, Markets to See 'Dramatic' Drop, Here's Why & What's Next For Gold, Bitcoin: Soloway
Kitco News: 6-13-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Gareth Soloway, Chief Market Strategist at VerifiedInvesting.com, who says that the U.S. stock market could see a "dramatic" drop once the Federal Reserve starts cutting rates.
Soloway reacts to Fed Chair Jerome Powell's latest comments. He warns of concerning signs in the U.S. banking sector, which is seeing big institutional players "unloading" the stocks of big banks.
He shares the Black Swan event investors need to pay attention to.
Soloway also gives his outlook on the Fed and the U.S. economy, sharing his price forecast for the U.S. stock market, gold, Bitcoin, and silver. He also breaks down the recent moves in Apple and Nvidia.
00:00 Coming up
00:45 Introduction: Fed Decision
02:26 Market Insights
06:24 Inflation & Consumer Spending
08:07 Market Reactions
09:06 Recession
16:51 Balance Sheet Insights
24:45 Banking Sector
28:52 Apple & AI
33:05 Nvidia
37:29 Bitcoin
43:08 Gold & Silver
Economist’s “News and Views” Thursday 6-13-2024
‘Inescapable Debt Trap’: Fed Going ‘Right Back’ to 0% | Brien Lundin
David Lin: 6-13-2024
Brien Lundin, Editor of Gold Newsletter, discusses the "inescapable debt trap" that could devalue currencies, and the assets that will likely outperform in the coming years.
0:00 – Intro
1:09 - GPUs and data centers
4:40 - Nuclear power
6:20 - Uranium
11:20 - Copper
‘Inescapable Debt Trap’: Fed Going ‘Right Back’ to 0% | Brien Lundin
David Lin: 6-13-2024
Brien Lundin, Editor of Gold Newsletter, discusses the "inescapable debt trap" that could devalue currencies, and the assets that will likely outperform in the coming years.
0:00 – Intro
1:09 - GPUs and data centers
4:40 - Nuclear power
6:20 - Uranium
11:20 - Copper
16:37 - Mining stocks
21:48 - Unsustainable debt
28:48 - Fed monetary policy
34:17 - Investment implications
40:10 - Soft landing
42:43 - New Orleans Investment Conference
SILVER ALERT! When Silver Breaks Free it will BREAK THE BANKS!
(Bix Weir) 6-12-2024
170 Years of Silver price suppression will not End Quietly...it will end in a BIG BANG! Brace yourself for the next few months!
Saudi's MBS Shocks America; Dollar Dominance Could End As Riyadh Chooses Not To Renew U.S. Oil Deal
Times of India: 6-13-2024
Saudi Arabia has reportedly decided not to renew its 80-year petro-dollar deal with the U.S., marking a significant shift with potential implications for the oil market. The deal, which expired on June 9, had long been a cornerstone of U.S. global economic dominance. Watch details
France Panic: Economy Downgraded, Macron Desperate Ultimatum, Russia Sanctions Backfired
Sean Foo: 6-12-2024
In a shocking move, Macron just made a desperate gamble with his snap election demand. France is facing a big economic crisis with S&P downgrading its economy and the blowback effects of the sanctions on Russia.
At the same time, Macron is desperately trying to contain Le Pen's far-right party. Here's what you must know!
Timestamps & Chapters:
0:00 French Economy Downgraded
2:37 Macron's Desperate Gamble
5:45 France Sparks Economic Panic
7:48 Le Pen & Russia
10:48 French Shock Coming
Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24
Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24
Good Evening Dinar Recaps,
"Singapore Consults on Implementation of Global Minimum Tax" The Organisation for Economic Co-operation and Development has a 15% tax on multinational enterprises.
Singapore is the latest country to propose the implementation of this tax upon their companies. This is a market-based collaboration between Global economies designed to develop policy standards that promote sustainable economic growth.
This Capital requirement for the banking system on a global scale comes under pillar 2 banking procedures. Pillar 2 banking supports pillar 1 banking to cover the needs of capital requirements that are not covered in pillar 1. Pillar 3 deals with the open banking system allowing changes to be determined as needed. Below is an article if you would like to do further study on this announcement.
Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24
Good Evening Dinar Recaps,
"Singapore Consults on Implementation of Global Minimum Tax"
The Organisation for Economic Co-operation and Development has a 15% tax on multinational enterprises.
Singapore is the latest country to propose the implementation of this tax upon their companies.
This is a market-based collaboration between Global economies designed to develop policy standards that promote sustainable economic growth.
This Capital requirement for the banking system on a global scale comes under pillar 2 banking procedures. Pillar 2 banking supports pillar 1 banking to cover the needs of capital requirements that are not covered in pillar 1. Pillar 3 deals with the open banking system allowing changes to be determined as needed. Below is an article if you would like to do further study on this announcement.
Its purpose is to level the playing field between economies and their opportunities for growth. A unified approach will give countries' currencies the ability to compete with demands for their money based on their own merits and ability to operate a business through the new Basel 3 requirements. Orbitax StateGov Acodez
© Goldilocks
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HSBC Announcement | Finance Feeds
"HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers."
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Fortune 500 Announcement | DailyHodl
Currently, over half of the Fortune 500 companies listed on the market are currently in process of interfacing their goods and services on the blockchain.
This means that they have currently begun the process of moving into the new QFS and operating their tokenized asset opportunities through the new digital asset-based trading system.
© Goldilocks
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Zimbabwe is taking an exciting step into the future by launching a public consultation to get opinions on regulating cryptocurrency operations in the country, Bloomberg reports. This is a big change for a nation that has historically struggled with currency issues.
By asking for feedback from the public and talking to industry experts, Zimbabwe aims to balance encouraging innovation in the growing crypto sector with making sure it’s done responsibly and in line with international standards. Bitcoinist
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Quant ISO 20022 Token utilized on the Shanghai Exchange Announcement:
"Chinese regulators' prompt supervision of quantitative trading will help narrow the gap between programs and individual investors in terms of technology, access to information and speed, thereby boosting the confidence of A-share investors and sustaining the stability of the market in the long run, according to market mavens.
The mainland's three major stock exchanges in Shanghai, Shenzhen and Beijing released on Friday rules on quant trading, or program trading, and solicited public feedback till June 14.
The rules cover six major areas — the management over reporting, trading activities, information systems, high-frequency trading, quant trading via the stock connect program linking the Shanghai, Shenzhen and Hong Kong bourses, as well as supervision."
Quant is a ISO 20022 Network. Quant is a network that connects existing distributed ledger networks such as the Shanghai Exchange to the new digital asset based trading system.
Through the adoption of this ISO 20022 Standard, Quant brings compatibility with traditional financial systems and streamlines secure exchanges of data across several networks simultaneously such as the Shanghai Exchange. ChinaDaily CoinCheckup
© Goldilocks
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Bank of Thailand opens DLT programmable payment testing in sandbox - Ledger Insights - blockchain for enterprise
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News, Rumors and Opinions Thursday 6-13-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 13 June 2024
Compiled Thurs. 13 June 2024 12:01 am EST by Judy Byington
Judy Note: It’s amazing what the Main Stream Media refuses to report and doesn’t even seem to care. In fact, it’s a little scary how we’re all controlled by not being told what’s really going on and don’t even realize it:
Last Sun. 9 June 2024 Saudi Arabia ditched the US Dollar and did not renew a 50 year contract, plus three days later around 12 noon EST on Wed. 12 June in a shocking and devastating move, Russia’s Moscow Stock Exchange immediately suspended all trading in U.S. dollars and Euros, delivering a major blow to the U.S. currency – all of which was bound to begin a Global Financial Crash – but you’d never know it according to the news.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 13 June 2024
Compiled Thurs. 13 June 2024 12:01 am EST by Judy Byington
Judy Note: It’s amazing what the Main Stream Media refuses to report and doesn’t even seem to care. In fact, it’s a little scary how we’re all controlled by not being told what’s really going on and don’t even realize it:
Last Sun. 9 June 2024 Saudi Arabia ditched the US Dollar and did not renew a 50 year contract, plus three days later around 12 noon EST on Wed. 12 June in a shocking and devastating move, Russia’s Moscow Stock Exchange immediately suspended all trading in U.S. dollars and Euros, delivering a major blow to the U.S. currency – all of which was bound to begin a Global Financial Crash – but you’d never know it according to the news.
Global Currency Reset: Rumors/Opinions
Wed. 12 June 2024 TNT Tony: “They want this done by Sat. 15 June 2024. Banks are expecting to work this weekend. Iraq has country wide celebration planned for Sun. 30 June.”
Wed. 12 June 2024 Wolverine: Good news from all serious and responsible sources.
This has already begun, the initial sound has been heard throughout the media context of REDEMPTION/REVALUATION AND GLOBAL FINANCIAL RESET.
It has been confirmed that the release of funds for currency swaps and historical asset swaps began after 12:00 a.m. on Tues. 11 June.
These released funds will become liquid once the 800 holder numbers and emails are released.
Exchange notifications begin on Wednesday, June 12.
It is a process that has just begun, everyone’s turn will come in due time, it will be a matter of days. We ask all beneficiaries to be very calm and patient, as they will be receiving notifications from their taxpayers. For the safety of everyone involved in the process, it is necessary to be very, very discreet. Your friend That loves you all Wolverine
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Tues. 11 June 2024 Wolverine:
God has sent me on this journey and now I cry, for I have the official news: It has been confirmed that the release of funds for currency exchanges and historical assets have already begun after 12 noon Tues. 11 June EST.
Funds will become liquid after the 800 is released to you on Wed. 12 June.
The last of this is a banking formality. Everything is done. The wait is over. What has been said so many times by so many that is going to happen has now happened!
C’s losses have already begun with the 27 Asian elderly and rogue families. It has started first with the Elders who are the trigger for all exchanges and redemptions.
Once the closing process begins for Zimbabwe dollar and the Iraqi Dinar, which are part of the first currencies to cross the International Monetary Fund, and which revalues the currencies, all currencies will continue to close until all IMF SDR currencies are revalued.
Congratulations you have made it. This is real. It has started.
I also received a message from the director of the CIC, which is the actual foundation for Mauricio. Right now, he is currently with the President of Colombia, handing out the documents and everything to the president so the funds can be released – I am not sure if it is televised or not, but it is happening right now! I just received a photo shoot!
I am beyond words right now! I am really, really, emotional.
What we need now is for the Tier4B notifications to start coming through, which will be tomorrow Wed. 12 June.
It is a privilege to have known these people (Marucio’s Team) who have changed my life. Especially my wife…. (sorry guys it has been hard, Wolverine is choked with emotion at this point). God bless you all, and hopefully, I pray to God, that that Opera will be released to you. Take care, have a beautiful day. Wolverine (transcribed by Carpathia)
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Global Financial Crisis:
The Head of Germany’s Stock Exchange says the country is becoming a “Developing Country” and called his own market “A junk Shop.”
Saudi Arabia has ditched the US Dollar and did not renew the 50-year petrodollar agreement with the United States. Instead, they will be selling oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan. This should be treated as a Black Swan Event, but you wouldn’t know it because the U.S. government is more focused on investigating tire tracks over a street intersection. Remember, the revolution will not be televised.
Russia Bans All US Dollar and Euro Trading on Moscow Exchange: Chinese Yuan Dominates Is the Dollar’s Dominance in Jeopardy After Russia’s Latest Action? https://ai3d.blog/russia-bans-all-us-dollar-and-euro-trading-on-moscow-exchange-chinese-yuan-dominates/
Read full post here: https://dinarchronicles.com/2024/06/13/restored-republic-via-a-gcr-update-as-of-june-13-2024/
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From Recaps Archives:
For Dinar - What you will see on Forex or CBI WHEN IT RVs
$ RATE = What you will see on Forex or CBI
$ .86 = 1.162
$ 1.00 = 1.000
$1.17 = 0.854
$1.86 = 0.537
$2.00 = 0.500
$2.50 = 0.400
$3.00 = 0.333
$3.22 = 0.310
$3.46 = 0.289
$3.50 = 0.285
$3.86 = 0.259
$4.00 = 0.250
$4.10 = 0.243
$4.40 = 0.227
$5.00 = 0.200
$5.25 = 0.190
$5.50 = 0.181
$6.00 = 0.166
$7.00 = 0142
$8.00 = 0.125
$8.25 = .0121
$8.50 = .0117
$9.00 = 0.111
$10.00=0.100
Iraq URGENT MESSAGE IQD Currency Information
Edu Matrix: 6-13-2024
People are losing faith because they have learned the numbers behind Iraq's revalue status. Here is what more than likely will happen.
EPIC DISASTER... The Economy Is Being DESTROYED From Within. FED IN FULL CONTROL.
Greg Mannarino: 6-12-2024
“Tidbits From TNT” Thursday Morning 6-13-2024
TNT:
CandyKisses: Kurdistan Region announces the holiday of Eid
Shafaq News / The Kurdistan Regional Government announced, on Wednesday, the suspension of official working hours, in all governorates of the region, for a week, on the occasion of Eid al-Adha.
“Official working hours in the Kurdistan Region will be suspended from next Sunday, which marks the first day of Eid al-Adha, and until Sunday next week,” government spokesman Pishua Huramani said at a press conference, attended by Shafaq News.
TNT:
CandyKisses: Kurdistan Region announces the holiday of Eid
Shafaq News / The Kurdistan Regional Government announced, on Wednesday, the suspension of official working hours, in all governorates of the region, for a week, on the occasion of Eid al-Adha.
“Official working hours in the Kurdistan Region will be suspended from next Sunday, which marks the first day of Eid al-Adha, and until Sunday next week,” government spokesman Pishua Huramani said at a press conference, attended by Shafaq News.
Tishwash: The acting Iranian Foreign Minister arrives in Baghdad
Acting Iranian Foreign Minister Ali Bagheri arrived Thursday morning in the capital, Baghdad, at the head of a delegation on a two-day visit, to hold talks with senior Iraqi officials.
In light of the strategic relations between Iran and Iraq, the visit will focus on expanding relations between the two countries in all fields.
Bagheri's talks in Iraq will address the common interests between the two brotherly peoples, confronting security challenges and threats, as well as the security of the region, and consultation on regional and international issues.
The visit comes while the late Iranian President Ayatollah Ebrahim Raisi was scheduled to pay a three-day visit to Iraq on May 28. link
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Tishwash: Iraq raises its gold possessions to more than 145 tons
The World Gold Council announced on Thursday that Iraq has increased its gold holdings to reach more than 145 tons of global gold reserves.
According to the latest table issued by the Council for the month of June, viewed by Shafaq News Agency, the volume of Iraq’s gold possessions reached 145.7 tons, compared to 142.6 tons during the month of May.
The Council explained that Iraq dropped in rank to reach 31st place globally out of 100 countries listed in the table with the largest gold reserves, and this amount represents 9.8% of the rest of its other reserves.
The Council indicated that the United States of America has the largest possession of gold in the world with 8,133.5 thousand tons, followed by Germany with 3,352.9 thousand tons, then Italy with 2,451.8 thousand tons, while Suriname came at the bottom of the list with 1.2 thousand tons.
It is noteworthy that the World Gold Council is based in the United Kingdom, and includes members of the largest gold mining companies in the world, and has extensive experience and deep knowledge of the factors affecting the gold market. link
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Tishwash: Iraq seeks to attract foreign investment by amending its laws
The Iraqi Parliamentary Investment Committee aims to amend some investment laws during the next legislative term, with the aim of attracting foreign investments and capital.
According to committee member, Dhia al-Hindi, representatives of the World Bank Group working in investment and private projects were hosted to discuss some paragraphs of laws on investment, which are considered in opposition to sustainable development in Iraq, including the investment law and the company law.
Al-Hindi explained that representatives of the World Bank cited the experiences of the Kingdom of Saudi Arabia and the United Arab Emirates, where the foreign investor in those countries has the right to own and manage the company by 100%, while his share in Iraq is limited to only 49%.
Al-Hindi called for amending some paragraphs of the law to create an attractive environment for investors and capital, noting that amending laws is within the jurisdiction of Parliament, while the laws governing the economic process remain “socialist.”
Al-Hindi stressed that the committee is continuing to amend the commercial arbitration and investment laws, and approve the industrial investment and mineral investment law.
Al-Hindi stated that the committee will address the government regarding amending some paragraphs of the investment law to be subjected to study in the State Shura Council, and then sent to Parliament.
These efforts come within the framework of Iraq's efforts to strengthen its economy and attract foreign investments, especially in light of the economic crises it is experiencing.
It is expected that the amendments to the laws will contribute to improving the investment environment in Iraq and attract more foreign investments and capital, which will contribute to the development of the Iraqi economy and create new job opportunities link
Mot: .. Camping can be Sooo Boring! -- What's there to Do?? -- Ooooh!
Mot: .. Time to get out me ""To Do List""
MilitiaMan: IQD Update-Iraqi Dinar-2024 Budget Gazzette-Dollar Decline-WTO Working Group July 18th on Accession-
IQD Update-Iraqi Dinar-2024 Budget Gazzette-Dollar Decline-WTO Working Group July 18th on Accession-
MilitiaMan and Crew: 6-13-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IQD Update-Iraqi Dinar-2024 Budget Gazzette-Dollar Decline-WTO Working Group July 18th on Accession-
MilitiaMan and Crew: 6-13-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
More News, Rumors and Opinions Wednesday PM 6-12-2024
KTFA:
Clare: Saudi Arabia's petro-dollar exit: A global finance paradigm shift
10 Jun 2024
The financial world is bracing for a significant upheaval following Saudi Arabia's decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024.
The lapsed security agreement - signed by the United States and Saudi Arabia on 8 June 1974 - establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia's military needs, and was said to have heralded an era of increasingly close co-operation between the two countries.
American officials at the time expressed optimism that the deal would motivate Saudi Arabia to ramp up its oil production. They also envisioned it as a blueprint for fostering economic collaboration between Washington and other Arab countries.
KTFA:
Clare: Saudi Arabia's petro-dollar exit: A global finance paradigm shift
10 Jun 2024
The financial world is bracing for a significant upheaval following Saudi Arabia's decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024.
The lapsed security agreement - signed by the United States and Saudi Arabia on 8 June 1974 - establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia's military needs, and was said to have heralded an era of increasingly close co-operation between the two countries.
American officials at the time expressed optimism that the deal would motivate Saudi Arabia to ramp up its oil production. They also envisioned it as a blueprint for fostering economic collaboration between Washington and other Arab countries.
The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered.
This latest development signifies a major shift away from the petrodollar system established in 1972, when the US decoupled its currency from gold, and is anticipated to hasten the global shift away from the US dollar.
Cross-border CBDC transactions
In a more recent move, Saudi Arabia has announced its involvement in Project mBridge, a project which explores a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks. It is built on distributed ledger technology (DLT) to enable instant cross-border payments settlements, and foreign-exchange transactions.
The project has more than 26 observing members including the South African Reserve Bank, which was greenlighted as a member this month.
The better known observing members of mBridge are those of the Bank of Israel, Bank of Namibia, Bank of France, Central Bank of Bahrain, Central Bank of Egypt, Central Bank of Jordan, European Central Bank, the International Monetary Fund, the Federal Reserve Bank of New York, the Reserve Bank of Australia, and the World Bank.
In tandem, the project steering committee has created a bespoke governance and legal framework, including a rulebook, tailored to match the platform's unique decentralised nature.
Evolution of Project mBridge
Project mBridge is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority.
In 2022, a pilot with real-value transactions was conducted. Since then, the mBridge project team has been exploring whether the prototype platform could evolve to become a Minimum Viable Product (MVP) – a stage now reached.
As it enters the MVP stage, Project mBridge is now inviting private-sector firms to propose new solutions and use cases that could help develop the platform and showcase all its potential. LINK
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Clare: The Minister of Communications announces a campaign to turn off towers in preparation for switching to fiber optics
6/11/2024 Baghdad
On Tuesday, Minister of Communications Hiyam Al-Yasiri announced the imminent launch of a campaign to extinguish towers in residential areas in preparation for the transition to the fiber optic system.
Al-Yasiri said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the Ministry intends to implement a campaign to extinguish the towers in coordination with the relevant security authorities, and according to the schedules set for them, after which it will switch to the fiber-optic system.”
She added, "There will be no losses to tower owners or unplanned extinguishing, as the companies operating on FTTH lines have completed their work in dozens of Iraqi regions in preparation for extinguishing those towers, and there is a detailed scheduled plan that will be announced in advance to extinguish the Wi-Fi towers." Fi) and converting it to FTTH service, which will be with the consent of the citizen and not compulsory.”
Al-Yasiri continued, “The prices that FTTH will offer will be lower or equal to the prices of Wi-Fi, despite its high cost, but we bear these costs with the companies in order to provide good service to citizens.” LINK
BuckEyeTree: Iraq continues to transform into the modern era with banking and now fiber optics. With security and stability and safety (banking laws against terrorism and corruption), investors / companies will find a good environment to do business.
If I remember correctly from UB2B, "in the coming days" phrase could potentially mean "anyrime." Praying with the blessings to be realized that this will be in the coming "days" or sooner. Big plans for an improved Iraq and for ministries.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat If you step outside of Iraq, when they finally do reinstate the dinar, the exchange of the three zero notes...will exchange to whatever the currency exchanges i.e. FOREX rate is at the time.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Parliament is saying we're going to pass the investment law. You're going to see it very soon...
UPDATE: Iraq's Expected Growth by the End of 2024/2025 (MENA)
Nadeer: 6-12-2024
BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities
Lrena Petrova: 6-12-2024
Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24
Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24
Good evening Dinar Recaps,
"BASEL COMMITTEE MUST STOP GLOBAL BANKS FROM CONTINUING TO CHEAT ON KEY REGULATORY TESTS AND ENDANGERING FINANCIAL STABILITY" | BetterMarkets
These tests include examinations of the bank's capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to systemic risk.
The above sentence is otherwise known as stress tests. A stress test determines how well a bank is capable of handling a liquidity crisis.
The OCC and FDIC conduct several tests to measure a bank's capacity to withstand transitional periods like we are in at the present time.
Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24
Good evening Dinar Recaps,
"BASEL COMMITTEE MUST STOP GLOBAL BANKS FROM CONTINUING TO CHEAT ON KEY REGULATORY TESTS AND ENDANGERING FINANCIAL STABILITY" | BetterMarkets
These tests include examinations of the bank's capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to systemic risk.
The above sentence is otherwise known as stress tests. A stress test determines how well a bank is capable of handling a liquidity crisis.
The OCC and FDIC conduct several tests to measure a bank's capacity to withstand transitional periods like we are in at the present time.
These tests are conducted to prevent crisis interventions and collapse situations that could become a contagion to other Banks.
Tighter controls on the new digital banking system are not only expected, but they will determine the compliance level a bank has in their standing going forward. BetterMarkets
© Goldilocks
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BRICS: BRICS calls for enhanced use of local currencies in trade between member countries - The Economic Times
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Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024 - The Ministry of Foreign Affairs of the Russian Federation | Ministry of Foreign Affairs
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Call to Action: ISSB Global Adoption
"The International Sustainability Standards Board (ISSB) is an independent, private-sector organization that develops and approves IFRS Sustainability Disclosure Standards."
The International Financial Reporting Standards are intended to make financial statements consistent, transparent, and comparable around the world.
The IFRS S1 and IFRS S2 are climate standards on an economy looking to be accepted on a world wide basis by 2025.
"IFRS S1 requires companies to disclose material information on all sustainability-related risks and opportunities that could reasonably be expected to affect their prospects. IFRS S2 sets out the requirements for climate-related disclosures."
Sustainability-related risks deal primarily with liquidity issues surrounding the banking system such as Governmental risks and economic factors.
Greenhouse gas (GHG) emissions is a climate-related risk. It is a climate related disclosure being proposed, and how, the banking system will be a part of managing those risks ie car loans.
Many compliance rules are expected to shift inside the new digital economy along with climate risks that will affect banking operations. This is one of the new adaptations that is being called for to help us adjust to our changing world.
As you can see from the previous article, new changes are being developed and governed by the ruling bodies above and beyond the banking system to recommit their International compliance standards inside this new digital banking system. CorpGovLaw EY IFRS PWC Zurich
© Goldilocks
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National and International governing bodies are starting to get involved with their new policies that will govern the new digital banking system.
This gives us an indication that the governing bodies of our new banking system are beginning to shift their attention to new rules and regulations that will move our money going forward.
© Goldilocks
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How will Europe's elections impact digital euro legislation? - Ledger Insights - blockchain for enterprise
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Russia intends to perform its first cross-border payments using the digital ruble in the second half of 2025. Central bank digital currency (CBDC) transactions with China or Belarus are on the cards. That’s according to Anatoly Aksakov, who chairs the Financial Markets Committee of Russia’s State Duma. | LedgerInsights
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Panel perspectives: Navigating the new waves of supply chain finance | TradeFinanceGlobal
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Project Cedar, Explained (Wholesale Central Bank Digital Currency Prototype). How the 7 trillion dollar a day Forex Market will move its money. | Youtube
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We are moving from a World Reserve Asset transaction to Central Bank Digital Ledger Technological (blockchain) transactions.
© Goldilocks
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🚨BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities | Youtube
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A Distributed Systems Reading List | Ferd CA
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Putin Says BRICS Developing Independent Payment System Free From Political Pressure – Featured Bitcoin News
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Ripple Completes Acquisition of Standard Custody & Trust Company – News Bytes Bitcoin News
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Saudi Arabia's petro-dollar exit: A global finance paradigm shift | The Business Standard
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Russia’s Moscow Exchange to stop trading in dollars after latest US sanctions | ARA TV
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FOMC Press Conference June 12, 2024 | Youtube
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America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Judy Shelton
America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee
Daniella Cambone: 6-12-2024
“You can't have sound money without sound finances,” says Judy Shelton, monetary economist, author of “Money Meltdown,” and former economic advisor to Donald Trump.
In an exclusive interview with Daniela Cambone, Shelton explains the rationale behind a gold standard argument, detailing how issuing a gold-backed bond may be the pathway to it.
“I don't know how people talk about free trade without addressing currency gyrations and how they impact trade,” she says.
Additionally, she warns that the fate of the U.S. may be similar to what happened to the Soviet Union with insurmountable debt. “Is the US still going to be here in 50 years? At the rate of the unsustainability in terms of the fiscal and monetary situation that you opened with, I don't see how.”
Tune in for this insightful discussion on the future of the U.S. economy and the potential return to a gold standard.
America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee
Daniella Cambone: 6-12-2024
“You can't have sound money without sound finances,” says Judy Shelton, monetary economist, author of “Money Meltdown,” and former economic advisor to Donald Trump.
In an exclusive interview with Daniela Cambone, Shelton explains the rationale behind a gold standard argument, detailing how issuing a gold-backed bond may be the pathway to it.
“I don't know how people talk about free trade without addressing currency gyrations and how they impact trade,” she says.
Additionally, she warns that the fate of the U.S. may be similar to what happened to the Soviet Union with insurmountable debt. “Is the US still going to be here in 50 years? At the rate of the unsustainability in terms of the fiscal and monetary situation that you opened with, I don't see how.”
Tune in for this insightful discussion on the future of the U.S. economy and the potential return to a gold standard.
“Tidbits From TNT” Wednesday 6-12-2024
TNT:
Tishwash: Kuwait connects its “Fiber” network to Iraq
The Kuwaiti telecommunications company Zajil, revealed that its “Fiber” network had been delivered to the borders of the two countries with Iraq. The advisor to the company’s board of directors, Engineer Walid Saleh Al-Qallaf, told “Al-Sabah”: “The company is currently working on connecting from Kuwait to Al-Faw directly,” indicating “the operation of the Safwan port, which will be followed by the operation of the Al-Faw port, so that Iraq will be a major corridor for passing the network, not only in the Gulf.” But for the countries of East Asia, it will be synonymous with the Egyptian corridor.”
He added, "The Iraqi corridor needs full encouragement and government support to make it successful, as it is necessary and fundamental to the completion of these projects," noting that "Iraq has become the focus of attention of countries and major international companies due to the incidents that took place in the Red Sea and the fear of the cessation of communications through this corridor."
TNT:
Tishwash: Kuwait connects its “Fiber” network to Iraq
The Kuwaiti telecommunications company Zajil, revealed that its “Fiber” network had been delivered to the borders of the two countries with Iraq.
The advisor to the company’s board of directors, Engineer Walid Saleh Al-Qallaf, told “Al-Sabah”: “The company is currently working on connecting from Kuwait to Al-Faw directly,” indicating “the operation of the Safwan port, which will be followed by the operation of the Al-Faw port, so that Iraq will be a major corridor for passing the network, not only in the Gulf.” But for the countries of East Asia, it will be synonymous with the Egyptian corridor.”
He added, "The Iraqi corridor needs full encouragement and government support to make it successful, as it is necessary and fundamental to the completion of these projects," noting that "Iraq has become the focus of attention of countries and major international companies due to the incidents that took place in the Red Sea and the fear of the cessation of communications through this corridor."
Al-Qallaf stated that “the incidents that took place in the Red Sea are a warning bell to search for a backup corridor for the Suez Canal, as heading towards Iraq was to be a successful corridor for these projects.” link
Tishwash: Iraqis resort to “gold bullion” instead of money, and the banking system is dying
Today, Wednesday (June 12, 2024), financial affairs expert Mustafa Hantoush revealed the reason why Iraqis are resorting to purchasing gold bullion in abundance during the current period.
Hantoush said in an interview with "Baghdad Today" that "recently, the demand for buying gold bullion has increased significantly by citizens, especially those with large sums of money. They have begun to save that money through these bullion instead of depositing their money in banks."
He stated that "the reason why citizens resort to buying gold bullion to save their money is as a result of the weakness of the banking system, lack of confidence in this system, and fear for their money due to American sanctions. This is why we see the majority of Iraqis turning towards gold bullion, especially in light of the high prices of the yellow metal and the stability of this price and its lack of fluctuation like the dollar." .
From mid-December 2022 until now, the Iraqi dinar has continued to fall against the US dollar, until it reached the level of 1,610 dinars against one dollar at a time when the official price of the dollar is 1,300 dinars.
With the decline of the national currency and the rise in poverty and unemployment rates, Iraqi gold markets recorded a large demand from customers to buy the yellow metal amid warnings against buying counterfeit ones.
According to data from the specialized website “Bloomberg” , Iraq bought 33.9 tons of gold in the year 2022, while the Turkish Consul General in Erbil Hakan Karaçay revealed that Iraq imported Turkish gold worth $1.5 billion during the year 2021.
Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq had increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.
This increase indicates Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term.
This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.
Many simultaneous factors are strengthening the record levels of gold, especially in light of the escalation of geopolitical tensions around the world, and in light of the state of “uncertainty” surrounding the global economy, which supports the trend towards the precious metal as a traditional safe haven in the face of market fluctuations and dire scenarios that impose themselves on the market. the scene.
Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after the Kingdom of Saudi Arabia, Algeria, and Morocco link
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Tishwash: Beijing: Iraq is the third largest Arab trading partner with China
Today, Wednesday, the representative of the Chinese Embassy, the Commercial Counselor of the People's Republic of China in Iraq, Xu Chun, revealed cooperation between the Ministry of Higher Education and Huawei to build the Information Technology Academy, while noting that Iraq is China's third largest trading partner among Arab countries.
During the conference on smart education, in cooperation with Huawei Technology, and attended by the Iraqi News Agency (INA) correspondent, Chun expressed his "happiness to attend the smart education event organized by the Ministry of Higher Education and Scientific Research in Iraq in cooperation with Huawei."
He added, "Iraq is one of the first Arab countries to establish diplomatic relations with China," noting that "the Iraqi government worked to actively manage governance and achieved remarkable results in maintaining social stability, advancing economic reform, and improving infrastructure and public services."
He pointed out that "China is Iraq's largest trading partner and China's third largest trading partner among Arab countries," noting that "the support from the two governments has led to progress in some projects of commercial and social value and a continuous deepening of cooperation in the fields of energy, infrastructure, and others." .
He added, "With the continuous development of information technology and its in-depth application, the demand for digital transformation in Iraq has increased. Since the end of last year, the Iraqi government has given great importance to accelerating the digital transformation process, and there have been a series of developments in the field of electronic passports and other government services."
He continued, "We are pleased to see cooperation between Huawei, the Ministry of Higher Education and Scientific Research, and local universities to build the ICT Academy, which aims to provide online lessons, provide a global exchange and competition platform for teachers and students, encourage students to obtain Huawei's professional and technical certificate, and develop talents." Innovation and technology applied to society and the ICT industry chain.”
He explained, "President of the People's Republic of China, Xi Jinping, stressed in his speech during the opening session of the tenth session of the ministerial meeting of the China-Arab Cooperation Forum, deepening cooperation, following up on the work of the past, paving the way for the future, and accelerating the pace of building the Chinese-Arab community for a common future."
He continued, "The digital age represents the key to accelerating the improvement of the digital infrastructure on a large scale, enhancing the infrastructure of networks, computing and applications in a coordinated manner and linking them with data for continuous economic and social development," expressing his "aspiration for more cooperation with Chinese companies." "To exchange experiences and cooperate with the Iraqi government and companies and actively participate in the digital transformation process in Iraq, in order to continue to advance the strategic partnership relations between China and Iraq to a higher level."
For his part, CEO of Huawei Iraq, William Yang, said: “We are keen to employ our global capabilities and expertise to develop and hone the skills of local talent and provide a full range of education digitization solutions designed for Iraq.”
He continued, "The partnership with the Ministry of Higher Education will provide Iraqi students with access to the latest technologies and recognized certificates in this field, instilling and strengthening a culture of innovation and entrepreneurship, as well as promoting the establishment of an effective smart campus by strengthening the basic education network and simplifying cloud platforms." And implementing smart classroom applications.
He added, "Given our confidence in the excellence of Iraqi talent at the regional and global levels, we are convinced that this cooperation will have a positive and sustainable transformative impact on the information and communications technology sector in Iraq, leading to bridging the digital gap, creating more job opportunities, and driving economic and social growth in Iraq." "The country."
He pointed out that “the Huawei ICT Competition, which is held annually, focuses on developing scientific and technological talent by highlighting realistic practices and needs in the technology sector, as well as urging participants to design innovative solutions that contribute to creating social and commercial value using modern technologies.”
The “Seeds for the Future” program also provides young talents with training courses and participation in international competitions that enhance the presence of intercultural exchange and the transfer of knowledge and experiences,” pointing out that “the programs include activities for graduates that focus on adopting the use of digital technology, in a way that enhances entrepreneurship and supports paths of development and growth.” Various sectors and industries.
He stressed, "Huawei, as a leading global company in providing infrastructure and smart devices for information and communications technology, is committed to putting its capabilities and expertise to develop the information and communications technology sector in the countries in which it operates, and its business strategy aims to harness technology to advance social and economic sustainability in the long term." link
Mot .. Bet Ya Didn't Knows This Stuff!!!
Mot: . oooooooooooh - What a cute little baby porcupine
