Economist’s “News and Views” Tuesday 6-25-2024

30 Countries ditch US dollar: What Next?

Fastepo:  6-25-2024

Nations and regional alliances are increasingly moving away from the US dollar for their trade transactions, a process termed de-dollarization.

This trend seeks to decrease dependence on a single currency, thereby enhancing economic stability by employing a variety of local currencies.

By prioritizing their own currencies, countries aim to mitigate geopolitical risks and bolster their domestic economies.

This ongoing shift is transforming global trade and financial systems, potentially reducing the global dominance of the US dollar.

 In this video, we examine the recent trend among various nations to decrease their dependency on the US dollar for international transactions.

We investigate the reasons driving these decisions and offer insights into their economic strategies.

Additionally, we focus on de-dollarization efforts within the BRICS+ bloc, highlighting significant steps these countries have taken to diversify the currencies used in global trade.

https://www.youtube.com/watch?v=C_cl2D8qg5c

LIVE! The U.S. e-CON-omic CON-JOB Is Worsening FASTER! EXPECT A HIGHER STOCK MARKET.

Greg Mannarino:  6-25-2024

https://www.youtube.com/watch?v=T_kPH_iMZ64

ALERT: FDIC Slams Big Banks for MASSIVE Risks

Taylor Kenny:  6-25-2024

The FDIC has raised alarms over major banks' emergency plans, concerns mount over the scale of derivative exposure in the financial sector, and questions emerge about the adequacy of deposit insurance amid banking uncertainties.

 With whispers of a potential global financial shake-up, what do the experts know that we don't?

https://www.youtube.com/watch?v=1lP9qfWgRws

“Tidbits From TNT” Tuesday 6-25-2024

TNT:

Tishwash:  Parliamentary recommendation for Finance and Planning to launch instructions for implementing budget schedules

Today, Tuesday, the Parliamentary Finance Committee recommended the Ministries of Finance and Planning to release instructions for implementing the 2024 budget schedules, while indicating that all appeals are normal and did not rise to the rejection of some paragraphs.

Committee member Nazem Al-Shibli said, “The budget is effective after its publication in Al-Waqa’i newspaper, but it needs instructions issued by the Ministries of Finance and Planning in order for it to be clearly implemented in the ministries, agencies, and governorates,” explaining that “the budget is not devoid of complaints and appeals every year, but the court It is the one who decides the authority to implement or legislate.”
 
Al-Shibli added, “The court will hear all appeals,” pointing out that “the budget is subject to appeal if any party objects to a part of it,” noting that “all appeals are normal and do not rise to the rejection of some paragraphs.”  link

CandyKisses: The Central Bank of Iraq revealed the mechanism of imposing fines on private banks

According to a document issued by the bank on the third of this month, "we would like to inform you that the imposition of fines on banks and non-bank financial institutions is done through a competent committee in this bank based on the Central Bank Law No. (56) of (2004) and the Banking Law No. (94) of (2004) and the instructions and controls that regulate banking operations."

He added that due to the violation of these laws, instructions and controls by the bank or non-banking financial institution, the purpose of imposing fines on banks and non-bank financial institutions is to prevent them from committing violations of the laws mentioned above and the instructions issued under them to protect them and ensure their safety and the safety of the financial sector in general.

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Tishwash:  Finally, “Carrefour” will open in Baghdad.. The international chain has ended its hesitation

It may not be a passing commercial event in Baghdad.. The international shopping chain “Carrefour” - which has been reluctant for years to enter the Iraqi market - has made up its mind and is actually preparing to open two branches in the capital.

The first will be in the Jadriya area within the “Jadriya Mall,” and the second within the Bismayah Mall complex. According to information obtained by the 964 network from various sources, the opening of the chain of markets in Al-Harithiya Mall has been withdrawn, because “Carrefour” needs a very large space that “Al-Harithiya” did not provide.

He already got what he wanted, as he acquired the largest part of the area of ​​Al-Jadriya Mall, which will also include a group of branches of international agencies, while the chain’s branch in Bismaya will also obtain a large area within the mall of the residential complex, and Al-Jadriya Mall was scheduled to open.

It was strange that the local authorities in Baghdad agreed to open “Carrefour” in Jadriya...the most crowded area of ​​Baghdad. Usually, the authorities oblige the “Carrefour” chain to open its branches in areas far from city centers, to contribute to the revitalization of remote areas and eliminate traffic congestion, especially since the crowding “Carrefour” is a certainty due to the easy and unique shopping experience it provides, the competitive offers and prices, the way products are presented, and the quality standards supervised by teams of international experts.

Carrefour is a French international supermarket chain with five branches in the Kurdistan region of Iraq (5 branches in Erbil, a branch in Sulaymaniyah, and another in Dohuk), and provides a wide range of home, food and other shopping options to the consumer.

Carrefour was scheduled to open a branch in Baghdad Mall in the Al-Harithiya area in the center of the capital, but the lack of suitable spaces prevented this, which prompted those responsible for the chain’s affairs in Iraq to search for alternative locations, indicating the possibility that the chain may have a third branch and perhaps A fourth in Baghdad soon. ink

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Tishwash:  Canadian oil replaces Iraqi crude on the American West Coast

Refineries on the West Coast of the United States intend to replace their imports of heavy Iraqi oil with cheaper crude from Canada, at a time when the newly expanded “Trans Mountain” line is re-arranging trade flows across the Pacific Ocean, according to what Bloomberg reported.

 California and Washington are scheduled to import about 150,000 barrels per day of Canadian crude via tankers in June, representing a seven-fold increase in average volumes, according to preliminary data from Vortexa. At the same time, their imports of Iraqi “Basra Heavy” crude are expected to decrease to 3,587 barrels per day, from 76,000 barrels last May.

The Trans Mountain expansion, which began in May, transports 590,000 barrels per day of crude from the Canadian oil sands to Vancouver for export. This is likely to be an advantage for refiners on the US West Coast, which would otherwise pay several dollars more per barrel to buy Iraqi crude.

As Canadian imports to the US West Coast rise, shipments of Brazilian medium-sulfur TUPI oil, as well as Basra Heavy crude, decline.

Alberta's heavy West Canadian Standard crude is trading about $13 cheaper than U.S. West Texas Intermediate crude, or about $67 a barrel, according to Bloomberg's general index pricing. Basra Heavy crude is trading about $5.55 cheaper than benchmark Brent crude, or more than $80 per barrel.  link

Mot: . Breads Ready!!!!

Mot:  Yaaaaaaaaaaaaaah !! - Score un fur Earl 

News, Rumors and Opinions Tuesday 6-25-2024

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 Wed. 25 June 2024

Compiled Wed. 25 June 2024 12:01 am EST by Judy Byington

Global Currency Reset(Rumors and Opinions)

Mon. 24 June 2024 Wolverine:

“I’ve just received incredible news from my contact in Brazil. He said to “Get Ready.” I think Tuesday (25 June 2024) is going to be the day.

“Yesterday I received an intel from Brazil saying that the payments are about to commence, and that is regards to his platform, and then about two hours ago (today), I sent him a message asking how things were progressing. He said, “They are progressive beautifully. The leaders are getting paid.”

Wolverine Cont….“I received another intel from Brazil, where he said, “Remember about what I told you last week.” He said, “I am letting you know it is about to commence.”

“I received an intel audio in Portuguese, and it said, “Practically all is started, and everything is confidential. Stay attentive, because everything is happening.” He is talking about Brazil – The Tier4 A group and the Tier4B.

“And the USA is already close. About an hour ago, I received an Intel from my contact in America, which says, “Intense movement In the USA. Tier4B notification news.”

“There is another audio I received, not in Portuguese, but in Spanish, saying that it looks like things have started.

“It looks like things are rolling. I am hoping that what I received is correct as I am only a messenger. Praying is all happening. People are getting emotional. But the person said I am not going to get emotional until I start seeing things happening from my end, but it looks like things are beginning to start. Lets’ hope and pray to God that tomorrow we will end up having real solid news in terms of hearing people getting paid and/or my contacts being paid and so on. We pray this comes true. Hopefully, tomorrow, we will get the victory sign. Take care, Wolverine.”

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Mon. 24 June 2024 TNT Tony expects it on or by Sunday, June 30. Banks already have been told they’ve had their last meeting prior to the RV.

Mon. 24 June 2024 Mike Bara The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow Tues. 25 June at “Sundown” and is a week long. There is no Plan C.

On Sat. 22 June 2024 Texas Snake, Wolverine, MarkZ and Tony all reported that this weekend Redemption Center staff were put on a one hour alert for report to their stations in order to schedule Tier4b (Us, the Internet Group) appointments and later, help complete currency exchanges. A HSBC Bank Manager in Australia confirmed the above, saying the one hour alert extended until Thurs. 27 June. 

Wolverine said the Brazilian channel was adamant that this was our week. A Bond Holder claimed he was promised liquidity by Tues. 25 June. Tony maintained that the Dinar Contract rate was $28.50, though you couldn’t get it unless you asked for it.

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Global Financial Crisis:

Mon. 24 June 2024 World Banks Liquidate European Bonds with 12 Trillion $ in Losses: https://beforeitsnews.com/economy/2024/06/and-we-know-world-banks-liquidate-useuropean-bonds-12-trillion-in-losses-silver-short-squeeze-pray-dr-kirk-elliot-video-3114064.html

Mon. 24 June 2024: Alert! Alert! Alert! The Dollar Ponzi Scheme A Looming Financial Catastrophe: BRICS, Gold for Oil Trade, Petrodollar System, Black Swan Event, U.S. Treasury Bonds, BlackRock and Shadow Banking – American Media Group (amg-news.com)

Mon. 24 June 2024: Black Swan Event – Protocol 19 – NESARA – GESARA – Revolution – Trust the Plan! – American Media Group (amg-news.com)

Mon. 24 June 2024: Mt. Gox Prepares to Roll Out Repayments to Defunct Users in BTC and BCH. Mt. Gox, the cryptocurrency exchange that lost 850,000 Bitcoin in 2024, will start repaying its defunct users. The rehabilitation trustee has announced that repayments will be processed in Bitcoin. https://tinyurl.com/2jkks6cf?tg=1719222666

Mon. 24 June 2024: The Federal Reserve has been hacked and over 33TB of data is now missing! https://t.me/The_17_Letter_Q

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The Real News for Mon. 24 June 2024:

Mon. 24 June 2024 Scary: The magnificent Seven of Amazon, Apple, Google, Meta, Microsoft, Nvidia and Tesla make up 53% of the nation’s GDP.

Mon. 24 June 2024 California: My Jaw Dropped & Hit The Floor While Listening To This. California Corruption IS OUT OF CONTROL. California is ordering tiny homes for the homeless, however they are paying $834,000 MORE PER tiny home than what you can order the same tiny home on Amazon for. California residents, how are you allowing this level of government corruption and thievery to just keep going on? How are you not demanding to know where that extra $834,000 per home is going? This is why your state 4 years ago had a surplus, one of the biggest surpluses in California history, but as of this year you have a $73,000,000,000 deficit. …Wall Street Apes on Telegram

Read full post here:  https://dinarchronicles.com/2024/06/25/restored-republic-via-a-gcr-update-as-of-june-25-2024/

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Economic experts on television saying the budget will not have effect on the exchange rate...it is going to stay the same.  FRANK:   It's not gonna affect the exchange rate in the budget because the new exchange rate has been in a second set of books for a very long time...

MarkZ   [via PDK]   I did hear from 3 or 4 military sources and Reno and the Treasury…rumors that are all over the place, some saying it’s happening right now, to no – its tomorrow…to Its already started, to all kinds of timing rumors in an concerted effort to cloud timing.  …I think it’s a good things to see them in panic mode trying to cloud timing.

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US Debt Collapse Spiral: Gold Will Re-emerge | Clive Thompson

Liberty and Finance:  6-24-2024

Confidence in US government debt is going to collapse, says Clive Thompson, formerly in wealth management and Swiss private banking.

"We could get into a phase where there's a spiral. People suddenly lose confidence in holding government debt, and they all rush to the exit at the same time."

 Gold will re-emerge as the currency of choice, he says.

INTERVIEW TIMELINE:

 0:00 Intro

1:00 Gold misconceptions

 7:30 Inflation coming

15:52 China's gold buying

19:07 Gold vs US dollar

https://www.youtube.com/watch?v=H--bLWYu4iw

More News, Rumors and Opinions Monday PM 6-24-2024

KTFA:

Clare:  A political movement to hold an extraordinary session to elect the new Speaker of Parliament - urgent

6/24/2024  Baghdad

Today, Monday (June 24, 2024), the representative of the Azm Alliance, Nihal Al-Shammari, revealed the existence of a political movement aimed at holding an extraordinary session to elect the new Speaker of the House of Representatives.

Al-Shammari said in an interview with “Baghdad Today”, “There is a political movement and communication between all Sunni political parties, with the aim of accelerating the election of the new Speaker of the House of Representatives, especially since it supports the initiative to unify the position of the Sunni political house.”

She added, “There are efforts to hold an extraordinary session to elect the new Speaker of the House of Representatives during the next few days, and perhaps by the end of this week, and this matter now depends on what the current political dialogues and negotiations between all political parties will produce.”

Parliament failed in four attempts to elect a replacement for Al-Halbousi due to the lack of consensus on a single candidate, in light of Sunni fragmentation and the coordination framework's insistence on keeping Mohsen Al-Mandalawi, the first deputy speaker of Parliament, as acting president, or the “conditional” agreement on a Sunni political figure. LINK

Clare:  Government advisor: Global indicators confirm that oil prices will continue to rise until the end of 2025

6/24/2024   Baghdad - INA - Amna Al-Salami

Today, Monday, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, identified the most important economic gains achieved due to the rise in oil prices, pointing out that global energy market sources indicate that the current rise in oil prices will continue until the end of the year 2025.

Saleh said to the Iraqi News Agency (INA): “There is a clear link between the rise in revenues from Iraq’s exported oil due to the rise in energy prices in global markets on the one hand, and the sustainability of financing investment projects whose allocations are estimated in the Federal General Budget Law No. 13 of 2023 (the tripartite budget).” Which exceeds 55 trillion dinars annually.”

He explained, “The rise in oil prices above their estimated rates leads to reducing the hypothetical deficit gap in the annual general budget, which is estimated at approximately 64 trillion dinars, and provides sustainability of spending on development projects,” stressing that “the hypothetical deficit is no longer a reason for faltering or delaying reconstruction projects and expenditures.” Related investment.

Saleh added, "The government program has prioritized, in its philosophy and general directions, the policy of diversifying sources of income in the national economy."

He stated, “For the first time, sovereign guarantees are granted to market activities and the private sector as a partner in development, with priority to major economic diversification activities, by providing appropriate financing to the private sector from global financial sources in order to finance the transfer of modern technology, especially the manufacturing and petrochemical industries, as well as industries related to the provision of high-quality products.” “A link to reconstruction, to ensure stable and high growth rates and provide the requirements for sustainable development and operation.”

He pointed out, “Global energy market sources indicate that the current oil prices will continue to rise until the end of the year 2025, with an average price of one barrel of crude oil at no less than $82, which is an average that exceeds the conservative price mentioned in the general budget law above, which was estimated at about $70 per barrel.”  LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  Everybody should be pumped and ready to go...  Article quote:  "Sovereign guarantees to the private sector will contribute to the industrial renaissance"  This article right here will blow your socks off...

Nader From The Mid East  Things have been moving a little bit from here to the 8th of July.  I hope we have an answer cuz that's what they shooting for.  I don't know if it's going to be good or bad...It's more good than bad but I don't want to say anything about that cuz if anything happen you're going to say, 'Hey, but you said this.  You said that.'

Iraq's Central Bank Still Dealing With Corruption Despite New Reform

Nader:  6-24-2024

The ICB has found multiple private banks that have been money laundering and handling large amounts secrete US currency transactions. With this being handled and taken care of soon, Iraq will soon be on a path to cleaning out the corruption.

https://www.youtube.com/watch?v=Lj6a3Tx0Q94

Will the EU collapse: Indonesia Join China and Reject the EU

Fastepo:  6-24-2024

Indonesia's pivot from the European Union to China in its trade relationships is rooted in the contentious regulatory environment imposed by the EU's Green Deal.

The EU's stringent anti-deforestation legislation, aimed at preventing commodities linked to deforestation from entering the European market, has created significant barriers for Indonesian exporters, particularly smallholders in the palm oil industry.

 In contrast, China has presented itself as a more flexible and supportive ally. With robust investments in Indonesian infrastructure and industries, including significant projects in the digital economy and renewable energy sectors, China has become Indonesia's largest trading partner.

This strategic shift is further solidified through agreements under the Belt and Road Initiative, which have enhanced economic integration and mutual benefits.

As a result, Indonesia's trade focus has increasingly turned towards China, reflecting a pragmatic approach to securing economic growth and stability amid global challenges.

https://www.youtube.com/watch?v=zYGFL_zhXKg

New BRICS Gold Token: Not a Cryptocurrency, Stablecoin, or CBDC

New BRICS Gold Token: Not a Cryptocurrency, Stablecoin, or CBDC

On June 23, 2024   By Awake-In-3D

Learn why the BRICS UNIT token currency is unlike anything you’ve heard about before.

In This Article

• What is the BRICS UNIT Token?

• Is the BRICS UNIT a Cryptocurrency?

• Is the BRICS UNIT a Stablecoin?

• Is the BRICS UNIT a CBDC?

• What are Blockchain Nodes in the new BRICS UNIT Financial System?

• What is the BRICS UNIT’s Role?

I get it. The revolutionary and groundbreaking makeup of the new BRICS+ gold-backed currency token (the UNIT) and its financial ecosystem is confusing.

This article explains what the UNIT token is, and how it differs from cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs).

What is the BRICS UNIT Token?

The UNIT token is a unique digital asset that is the definition of “real money”.

Combining both a stable store of value without the depreciation of fiat currencies like the US Dollar but also be fungible medium of exchange like a currency.

Unlike traditional cryptocurrencies or stablecoins, the value of the UNIT token is based on a basket of underlying assets, based on a 40% gold component and 60% local currencies component.

This combination gives the UNIT token a stable intrinsic value while being flexible and fungible for everyday transactions.

Is the BRICS UNIT a Cryptocurrency?

Cryptocurrencies, like Bitcoin, derive their value from supply and demand without being backed by physical assets.

The UNIT token, however, derives its value from a mix of gold and local currencies. This basket of assets ensures that the value of the UNIT token is more stable than that of typical cryptocurrencies, making it highly reliable for everyday use.

Is the BRICS UNIT a Stablecoin?

Stablecoins are designed to maintain a fixed value by being pegged to a fiat currency, like the US dollar.

The UNIT token, while also backed by assets, does not have a fixed value. Its value fluctuates based on the total value of its underlying assets and market demand.

This means the UNIT token is not a stablecoin, as it lacks the reverse conversion mechanism that stabilizes a stablecoins’ value.

Is the BRICS UNIT a CBDC?

Central Bank Digital Currencies (CBDCs) are digital versions of a country’s fiat currency, issued and regulated by the central bank.

The UNIT token, however, operates on a Decentralized Autonomous Organization (DAO) structure, which means it is governed by a community of users (node operators) rather than a central authority.

This decentralized nature differentiates the UNIT token from CBDCs, ensuring it remains an apolitical and globally accessible digital currency.

What are Blockchain Nodes in the new BRICS UNIT Financial System?

In the UNIT ecosystem, individual countries that join the currency and financial network operate their own independent blockchain nodes.

These nodes ensure the decentralized and distributed nature of the UNIT token, enhancing security and reliability. Each participating country maintains control over its node, contributing to the overall resilience and integrity of the UNIT network.

This structure allows for a collaborative yet autonomous participation in the global UNIT financial ecosystem.

What is the BRICS UNIT’s Role?

The UNIT token will function as money, offering a stable medium of exchange, a unit of account, and a store of value. These are the four primary pillars of an ideal economic and financial system offering equality, fairness and prosperity for all participants.

Unlike stablecoins, which are often used as a bridge in transactions, the UNIT token is a final stage currency. It will complement local currencies rather than replace them, providing a more stable and reliable alternative for trade and investment.

The Bottom Line

The UNIT token is a decentralized, asset-backed digital currency offering the benefits of both traditional money and digital assets.

Its unique structure and intrinsic value make it a promising tool for modern financial transactions, standing apart from cryptocurrencies, stablecoins, and CBDCs.

Its operation within a DAO framework and the use of independent blockchain nodes by participating countries ensure it remains decentralized and robust, making it a viable and innovative financial instrument.

Supporting article: https://brics-plus-analytics.org/how-does-the-brics-currency-transform-the-world-economy/

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© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews

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Economist’s “News and Views” Monday 6-24-2024

U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne

Daniela Cambone:  6-24-2024

The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.

He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”

 On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.

 "We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.

He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.

CHAPTERS:

 00:00 De-dollarization

 5:48 HSBC statement about the US dollar

7:21 Fed rate cuts

10:58 Job market

13:50 People can’t retire

16:52 Housing purchasing

20:44 Stock market

23:39 Investing in precious metals

24:58 Future of America

https://www.youtube.com/watch?v=DQclKKeXxnQ

BRICS' WIN IN ASIA: Malaysia & Thailand Apply to Join, While Japan Is Ditching US Treasuries

Lena Petrova:  6-24-2024

https://www.youtube.com/watch?v=oI4qrr87zN4

US Dollar to Get Re-Priced from ‘Widely Overvalued’ Levels, Massive Impact on Gold, Bitcoin Targets

Kitco News:  6-24-2024

U.S. Treasuries will be dumped as global reserves by 2030 as the U.S. dollar will get re-priced from "widely overvalued" levels, Luke Gromen, founder and president of Forest for the Trees (FFTT), tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.

Gromen weighs in on what he sees as the new global reserve asset and what it means for gold and Bitcoin prices.

https://www.youtube.com/watch?v=Vv9DVOhyNhE

Goldilocks' Comments and Global Economic News Monday 6-24-24

Goldilocks' Comments and Global Economic News Monday 6-24-24

Good Evening Dinar Recaps,

CFTC Announcement:

"Washington, D.C. — The Commodity Futures Trading Commission Open Meeting scheduled for Monday, June 24, 2024, has been cancelled. The matters under consideration have been completed through the Commission’s seriatim process."

Let's take a close look at what has been completed.

* "Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom

* Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market"

The first item on the list above that was completed dealt with Cross-Border applications of Swaps Provisions. Capital and Financial reporting is being allowed by non-U.S. swap dealers and market participants (MSPs) that meet agreed upon standards with their home jurisdiction's regulations instead of the CFTC's. You can look at the list above of Nations that qualify.

The reason for the above being so important is because of the following procedures. These swap execution facilities have to be registered to operate as derivatives clearing organization that will allow global access to foreign currency exchanges and other financial instruments of interest.

The final item deals with designating contracts. Designated Contract Markets (DCMs) are exchanges that list trading futures or option contracts that are based on all types of commodities. And this, comes under the Commodities and Futures Trading Commission (CFTC) and their governance.

Compliance Date: Effective July 13, 2023. Derivative Clearing Organizations DCOs must comply by July 12, 2024.  (See Federal Register link below)

The completion of these swap dealer compliance issues in the Forex Market comes at a time when Iraq has just completed their requirements on phase one of their economic reforms. Phase one is a completion of reforms that have now qualified Iraq for international trade.  CFTC  Federal Register

© Goldilocks

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Options Clearing Corporation: Risk Management Transformation | Youtube

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Understanding Treasury Contract Specifications | Youtube

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Central Bank Swap Arrangements, Explained | Youtube

👆  Goldilocks pointed to this article

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Hong Kong invites global opinions on web3 and virtual assets future - StartupNews fyi

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Asset managers update proposals for Ether ETFs, eyeing July launch — Blockchair News

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Commission seeks input from industry on the use of artificial intelligence in finance - European Commission

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The podcast 6/22/24 on Vietnam should get everyone excited about where we are with FACTS. Podcast     Youtube

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New BRICS+ Currency Is the Key to Global Financial Prosperity

New BRICS+ Currency Is the Key to Global Financial Prosperity

On June 22, 2024 By Awake-In-3D

Discover how the UNIT Ecosystem’s innovative design will trigger a global currency reset, leveraging 2.5X the purchasing power of its intrinsic gold-backing.

In This Article

1. The Superior Purchasing Power of UNIT-Based Currencies

2. Explaining the UNIT’s 2.5X Purchasing Power Leverage of Gold

3. Mechanisms Behind the Global Currency Reset and Revaluation

4. The Long-Term Impact on Global Trade and Investments

Trust and confidence in traditional G-7 fiat currencies is waning as their purchasing power evaporates into unsustainable debt.

However, the new UNIT ecosystem offers a revolutionary financial system solution with its gold-backed UNIT tokens, providing superior purchasing power, store of value, and stability.

Unlike traditional fiat currencies, UNIT tokens leverage their intrinsic gold collateral, making them a more reliable and economically efficient option for international trade and transactions.

Countries that participate in the UNIT Ecosystem will see their native currencies revalue higher than traditional fiat currencies in terms of purchasing power (exchange rate valuation).

The Superior Purchasing Power of UNIT-Based Currencies

UNIT-based currencies derive their superior purchasing power and stability from their unique design and gold backing. Here are the key reasons why UNIT-based currencies have higher value than traditional G-7 fiat currencies:

1. Gold-Backed Stability: UNIT tokens are anchored to a basket containing 40% gold, providing intrinsic value. This backing ensures that UNIT-based currencies are more stable and less susceptible to inflation and geopolitical risks compared to fiat currencies.

2. Leverage Over Gold Collateral: By minting UNIT tokens with 60% local currencies and 40% gold, the ecosystem offers x2.5 leverage over the gold collateral. This leverage enhances the purchasing power of UNIT tokens, making them more valuable than pure fiat currencies.

3. Reduced Transaction Costs: The UNIT ecosystem reduces the full economic costs associated with cross-border payments in local currencies, which can approach 10%. These costs include commissions, exchange rate differences, and working capital expenses. Lower costs translate to higher effective value for those using UNIT tokens.

4. Economic Benefits for Trade: Importers benefit from reduced transactional costs, while exporters gain from the stability of financial flows. The stability and lower costs of using UNIT tokens in cross-border trade increase their purchasing power compared to traditional fiat currencies.

Explanation of the UNIT’s 2.5x Leverage Over Gold Collateral

The 2.5x leverage over gold collateral in the UNIT ecosystem allows for the creation of UNIT tokens that have greater economic value and purchasing power than the actual gold backing them.

Here’s what the UNIT Token is made up of:

• Gold Collateral: Each UNIT token is backed by a basket that includes 40% gold. This means that for every UNIT token issued, there is a certain amount of gold held as collateral to guarantee the token’s value.

• Leverage Mechanism: By accepting 60% of the value in local currencies from the Global South and 40% in gold, the ecosystem effectively multiplies the value of the gold collateral. For every unit of gold value, the system issues tokens worth 2.5 times that value.

This leverage allows the UNIT ecosystem to create more value from the gold it holds. For instance, if the gold collateral is worth $1 million, the system can issue UNIT tokens valued at $2.5 million.

The leveraged value means that UNIT tokens can facilitate larger transactions and carry greater purchasing power than the actual amount of gold held. This makes UNIT tokens more efficient for use in cross-border trade and other economic activities.

By leveraging the gold collateral, the UNIT ecosystem maximizes the economic utility of the gold, enabling more significant economic activity without requiring equivalent physical gold reserves for every transaction.

Mechanisms Behind the Global Currency Reset and Revaluation

The UNIT ecosystem’s innovative design facilitates a global currency reset and revaluation. Here’s how it works:

1. Gold Collateral: Minting UNIT tokens with local currencies and gold provides a stable, leverage-backed currency for international transactions.

2. Enhanced Value: The intrinsic value from gold backing and reduced transaction costs make UNIT tokens more valuable than traditional fiat currencies.

3. Plug-and-Play Solution: The ecosystem integrates seamlessly with existing financial infrastructure, minimizing complexity and reducing reliance on political or regulatory solutions.

4. Increased Circulation: As UNIT tokens circulate more widely, economies of scale will accrue, enhancing the ecosystem’s attractiveness and further increasing the purchasing power of UNIT-based currencies.

The Long-Term Impact on Global Trade and Investments

The UNIT ecosystem’s stable and apolitical nature, combined with its advanced technological solutions, will foster global economic growth and stability. Here are the expected long-term impacts:

1. Reduced Risk: UNIT’s stable value will lower the risk for all parties involved in trade and capital transactions.

2. Facilitate Development: The ecosystem will support the growth of an indigenous capital base in the Global South, reducing dependence on external sources.

3. Enhanced Balance-of-Payments: The introduction of UNIT for cross-border trade will positively impact the balance-of-payments for the Global South due to its stability and lower transaction costs.

4. Promote Integration: Diverse participants will integrate into the UNIT ecosystem, creating a level playing field and facilitating long-term investment and development.

The Bottom Line

The UNIT ecosystem offers a revolutionary solution to the trust crisis in global finance. By anchoring UNIT tokens to gold and providing a stable, adaptable currency, the ecosystem will spark a global currency reset and revaluation.

This change promises to enhance global trade, reduce economic risks, and promote sustainable development, particularly in non-G7 countries.

Supporting article: https://winepressnews.com/2024/05/20/brics-discusses-accepting-the-unit-a-new-decentralized-monetary-system-backed-by-gold-and-local-currencies/

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The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You

The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You

J. Arky   Sat, June 22, 2024  GoBankingRates

America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While many nations frequently struggle to maintain balance in a financial standing with lenders and other countries, the United States is facing a staggering number of $1,000,000 worth of debt per citizen.

In March 2024, CNBC reported that America’s national debt “…permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion.”

That is a lot of money and there are not a lot of clear answers as to how to pay it off. Even in an advanced country, which is often seen as the richest and most powerful nation in the world, the path to wiping the slate clean and going back to zero remains murky at best. So where did all this debt come from and how is it going to impact you as a citizen of the United States? GOBankingRates checked in with a few economists to find out.

How Did We Get Here?

“The U.S. national debt reaching nearly $1,000,000 per American can be a startling figure, but it is essential to break down where this debt comes from and its implications,” said Dennis Shirshikov, a finance professor at the City University of New York.

Shirshikov defined the national debt as the total amount of money that the U.S. federal government owes to creditors, which range from financial institutions, private investors and other lenders across international lines.

“It comprises both public debt, owed to foreign and domestic investors, and intragovernmental holdings, such as Social Security and Medicare trust funds,” Shirshikov explained. “The debt has accumulated over decades due to persistent budget deficits, where government expenditures surpass revenues.”

The rise of high-interest consumer credit options played a huge role for the current balance facing Americans, according to Michael Schmied, senior financial analyst at Kredite Schweiz, who specifically highlighted the role of credit cards, personal loans and those tempting buy-now-pay-later offers as contributors to the nation’s debt.

“They make borrowing money way too easy — and often come with sky-high interest rates,” Schmied said. “This combo has led folks to rack up debt faster than they can pay it off, pushing the average debt per person up to almost $1 million.”

Where Did All This Money Go?

To Read More:

https://www.yahoo.com/finance/news/us-debt-near-1-000-190024462.html

“Tidbits From TNT” Monday Morning 6-24-2024

TNT:

Tishwash:  Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”

Today , Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.

The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”

She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."

Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.” link

Tishwash:  The President of the Republic calls for amending laws related to investment

The President of the Republic, Abdul Latif Gamal Rashid, called today, Monday, for amending the laws related to investment, while praising the efforts of the Financial Supervision Bureau.

A statement from the Presidency of the Republic, received by Al-Iqtisad News, stated that “President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makiya,” noting that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”

The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."

He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."

He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."

For his part, Makiya stressed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents."

The statement continued, "The President of the Republic, Abdul Latif Jamal Rashid, also received today at Al-Salam Palace in Baghdad, the head of the Financial Supervision Bureau, Ammar Subhi Khalaf, and during the meeting, the work of the Financial Supervision Bureau was discussed."

The President of the Republic stressed "the importance of the Bureau's work in establishing concepts of integrity and transparency for the work of state institutions," noting "the necessity of continuing efforts to preserve public money and combat administrative and financial corruption."

He pointed out that "promoting the concepts of integrity and anti-corruption helps support the country's development process, enhances investment and supports the private sector, and provides equal opportunities for all," indicating "the importance of strengthening coordination between all regulatory bodies to achieve these goals."

He referred to "the work of the Financial Supervision Bureau in monitoring the performance of state institutions," praising "the efforts made by it in taking care of public money, reducing waste of spending, and monitoring the implementation of development projects in the country."

For his part, Ammar Sobhi Khalaf appreciated the “directives of the President of the Republic,” reviewing the work progress of the Financial Supervision Bureau, the tasks assigned to it, and the plans drawn up to develop the work in the future to achieve the goals set for it.” link

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Tishwash: Warning against trading digital currencies in Iraq

The Securities Commission warned against trading digital currencies in Iraq, noting that there are 9,000 currencies in the world.

Waddah Al-Taha, a member of the Authority’s Council, explained that digital currencies are virtual currencies created by individuals, not an entity authorized by governments, and they are based on unsubstantiated assumptions, whether they are currencies, gold, or other assets.

He added that the existence of digital currencies depends on scarcity, such as Bitcoin, of which there are 21 million pieces, and their acquisition requires solving a puzzle to access them, or using mining or logarithms, and they consume a lot of electrical energy.

Al-Taha pointed out that adopting such assets to exchange goods using cryptocurrencies is a dangerous gesture the more it is adopted, but it has been imposed in one way or another on countries or companies, and is not determined by influential parties, whether the United States, China, or other major economies, noting that it must There should be rules for these currencies, not that the door be wide open for them.

He refused to let Iraq deal in these currencies because they lacked basis for evaluation except supply and demand.  link

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CandyKisses:  Disabling official working hours next Tuesday (Tomorrow) on the occasion of Eid Al-Ghadir

Baghdad - Mil

The State Media Cell announced, on Sunday, the disallation of official working hours next Tuesday on the occasion of Eid Al-Ghader Al-Aghar.

The official media quoted the spokesman for the team, Haider Al-Majeed, followed by "Mil", that "The Prime Minister, Mohammed Shia Al-Sudani, directed during the meeting of the Council of Ministers, in its twenty-fourth regular session, held on 2024/6/10, to disrupt official working hours on Tuesday, corresponding to June 25, 2024, in all ministries and government institutions, coinciding with the day of Ghadeer, based on the provisions of Article (1/I/G) of the Law on Public Holidays (12 of 2024)."

With the launch of the activities of "Al-Ghadeer Week" with the participation of 12 countries, the Iraqi Ministry of Interior confirmed, on Friday, the preparation of a plan to secure the atmosphere of Eid Al-Ghadeer Al-Agar and facilitate the entry and movement of visitors in Najaf and the rest of the governorates.

Last Thursday, the Supreme Committee for the activities of "Ghadeer Week" in Iraq announced the completion of the preparations and preparations for that religious occasion, which was approved on a recent official holiday.

On the 18th day of Dhul-Hijjah according to the Hijri calendar, Shiites celebrate "Eid Al-Ghadir," which is the date on which the Prophet Muhammad delivered the sermon of Ghadeer in the area of "Ghadeer Kham", while returning from his last argument (the farewell pilgrimage), in the tenth year of Hijra, in which his cousin, Imam Ali, was given an imam to Muslims after him.

On May 22, the Iraqi parliament voted on the bill for public holidays, which included the Eid al-Ghadeer holiday.

Mot: ... ssssshhhhhhhhhhhhhhh 

Mot :Getting Serious Now - Got my new workout equipment 

News, Rumors and Opinions Monday AM 6-24-2024

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 Mon. 24 June 2024

Compiled Mon. 24 June 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: On Sat. 22 June 2024 Texas Snake, Wolverine, MarkZ and Tony all reported that this weekend Redemption Center staff were put on a one hour alert for report to their stations in order to schedule Tier4b (Us, the Internet Group) appointments and later, help complete currency exchanges. A HSBC Bank Manager in Australia confirmed the above, saying the one hour alert extended until Thurs. 27 June. Wolverine said the Brazilian channel was adamant that this is our week. A Bond Holder claimed he was promised liquidity by Tues. 25 June. Tony maintained that the Dinar Contract rate was $28.50, though you had to ask for it.

Global Financial Crisis:

The mother of all stock market bubbles is in plain sight. https://x.com/globalmktobserv/status/1804643025328488647?s=46&t=P2Ls81hs8j9RD7M6kNgOvw

Jekyll Island and the Truth Behind the Federal Reserve: https://beforeitsnews.com/economics-and-politics/2024/06/jekyll-island-the-truth-behind-the-federal-reserve-videos-2532166.html

Sun. 23 June 2024 Greg Hunter & Bill Holter: No Way Financial System Survives! – Must Video | Economy | Before It’s News (beforeitsnews.com) 

Financial writer and precious metals broker Bill Holter has been documenting all the un-payable debt that has been building up in the financial system like cancer. The latest black hole of default is coming from a big bank in Japan.

 Norinchukin Bank is selling $63 billion in Treasuries and other sovereign bonds to stay afloat. Then there is recent news announced by the FDIC that 63 US banks (the names are being kept secret) have more than $500 billion in losses, and let’s not forget about the trillions in losses sitting on the books of European banks ready to suck the world into a black debt hole. 

This is just a few of many on a long list of destabilizing problems that can tank the entire over-indebted financial system. Holter warns, “The list is so long, it could be a banking problem. It could be a derivatives problem. It could be a derivatives problem in the stock market, the bond market and you could see a failure to deliver in silver. 

Some type of warfare could crash the system. You could see warfare in Ukraine, Israel or Taiwan. The system is so unstable, at this point, it could be anything that could bring it down. Unpayable debt is not just a US problem. This is all over the world.

 Central banks are having to issue huge amounts of debt because we are in the exponential decay phase. We are exactly where Richard Russell said we would be 20 years ago.  It’s inflate or die, and the only way to inflate is to create more money supply.”

Read full post here:  https://dinarchronicles.com/2024/06/24/restored-republic-via-a-gcr-update-as-of-june-24-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat  Article:  "Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil"   ...There it is again in articles.   Do we need the Oil and Gas law referendum passed prior to the Reinstatement?  We were told we do. Let’s see what happens.

6-23-2024   Intel Guru Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
The television is showing the new 35 white paper report from the IBBC is on our de-dollarization...Our country has removed foreign currencies they tell us...De-dollarization has been successful.  We don't use any other currencies except the Iraqi dinar.  They are very pleased with what the Iraqi dinar is about to go through.

MARKETS A LOOK AHEAD: A GREAT FALL...

Greg  Mannarino:  6-23-2024

https://www.youtube.com/watch?v=FSHFdLUBA6I

‘The Collapse Of Our Entire Financial System’: MASSIVE G7 Decision Marks The End

Atlantis Report:  6-23-2024

For many years, the G7 summit has been a symbol of international cooperation, uniting the world's most powerful economies to address important global issues. These annual meetings have allowed leaders to have productive discussions and develop joint strategies, from economic policies to nuclear weapons. However, the recent G7 summit signals a significant shift that will profoundly impact the global financial system.

https://www.youtube.com/watch?v=0z-O9m3ZSSQ