Economist’s “News and Views” Tuesday 7-23-2024
As U.S. Debt Hits Historic Levels, How Close Are We to a Complete System Failure?
Daniela Cambone: 7-23-2024
The U.S. deficit will become worrisome if tax revenue collected by the government falls far short of, or gets too close to, the debt service, claims Joel Litman, President and CEO of Valens Research.
However, he remains optimistic about the overall U.S. economy. “U.S. assets are easily 50 trillion at the lowest end, probably closer to 100 trillion.
The U.S. government is still the biggest landowner of U.S. land in the United States,” he states.
Furthermore, Litman provides a clear and informed perspective on why the U.S. remains financially resilient and what measures could ensure continued economic stability.
As U.S. Debt Hits Historic Levels, How Close Are We to a Complete System Failure?
Daniela Cambone: 7-23-2024
The U.S. deficit will become worrisome if tax revenue collected by the government falls far short of, or gets too close to, the debt service, claims Joel Litman, President and CEO of Valens Research.
However, he remains optimistic about the overall U.S. economy. “U.S. assets are easily 50 trillion at the lowest end, probably closer to 100 trillion.
The U.S. government is still the biggest landowner of U.S. land in the United States,” he states.
Furthermore, Litman provides a clear and informed perspective on why the U.S. remains financially resilient and what measures could ensure continued economic stability.
Don't miss this insightful analysis that challenges common alarmist views and offers a deeper understanding of national debt dynamics.
CHAPTERS:
00:00 US debt
5:52 The breaking point of US debt
7:53 Servicing the debt
11:04 Warren Buffet ends deficit in 5 minutes
16:01 Diminishing purchasing power
17:52 Real estate
China Sell 68% of its US Treasury: What's next?
Fastepo: 7-23-2024
The general U.S. perspective of US treasury emphasizes the security and reliability of Treasury securities. Critics, however, point to different aspects.
They often argue that the massive issuance of U.S. Treasuries is a reflection of the significant national debt, which stood at approximately $34.9 trillion as of July 2024.
They argue that this growing debt could pose long-term economic risks, including potential inflation and increased borrowing costs.
Additionally, they highlight the dependency of the U.S. on foreign investment, particularly from countries like China and Japan, which hold large amounts of U.S. debt—around $1.15 trillion and $1.1 trillion, respectively, as of early 2024.
As Washington Threatens To Shutdown China Banks, Beijing Sells Record $79.7B In US Debt & Stocks
Sean Foo: 7-23-2024
Jake Sullivan, the US NSA advisor, just warned Chinese banks. This threat is a dangerous one and risks upsetting the global economy.
Trade could be severely disrupted and supply chains broken. Meanwhile, China understands the risk and a recent report confirms they are exiting dollar assets in a big way.
They sold $79.7 Billion of US assets from January to May this year, a new record.
Timestamps & Chapters:
0:00 Sullivan Targets China Banks
2:43 China Fleeing US Assets
5:55 Feeding Into Further De-Dollarization
7:51 Sponsor: Indigo Precious Metals
9:15 Risking China Anti-USD Trade
10:27 Disastrous China Tariff Risk
13:29 China Has No Choice
More News, Rumors and Opinions Tuesday Afternoon 7-23-2024
KTFA:
Clare: A high-ranking security delegation arrives in Washington to hold a round of talks to end the coalition's mission
7/23/2024
Defense Minister Thabet Mohammed Saeed Al Abbasi arrived at the head of the Iraqi delegation on an official visit to the United States of America.
The Iraqi security delegation will hold the second round of talks to end the international coalition's mission in Iraq.
Four Iraqi sources told Reuters that Iraq wants the international coalition forces to begin withdrawing from September and to officially end the coalition's work by September 2025,and indicated "the possibility of some American forces remaining in an advisory capacity that was recently negotiated."
KTFA:
Clare: A high-ranking security delegation arrives in Washington to hold a round of talks to end the coalition's mission
7/23/2024
Defense Minister Thabet Mohammed Saeed Al Abbasi arrived at the head of the Iraqi delegation on an official visit to the United States of America.
The Iraqi security delegation will hold the second round of talks to end the international coalition's mission in Iraq.
Four Iraqi sources told Reuters that Iraq wants the international coalition forces to begin withdrawing from September and to officially end the coalition's work by September 2025,and indicated "the possibility of some American forces remaining in an advisory capacity that was recently negotiated."
Meanwhile, American officials said that "the Iraqi position will be discussed with American officials in Washington this week at a security summit," adding that "there is no official agreement to end the coalition or any timetable associated with it yet." LINK
Clare: International Development Bank announces the opening of a bank deposit account
7/23/2024 Baghdad
The International Development Bank announced today, Tuesday, the opening of a deposit account (investment, term) to serve the Iraqi family.
The bank stated in a statement that "based on our belief in providing the best banking services to the bank's customers and employing the accumulated cash mass in the service of the national economy, the International Development Bank for Investment continues to open deposit accounts according to the customers' requirements in terms of the duration of the link."
He added, "These accounts provide financial returns of up to 10% annually, paid monthly from the value of the deposit, in addition to entering the monthly draw, which includes valuable cash prizes."
He stressed that "the owner of the investment deposit receives free life insurance and facilities when wishing to obtain a loan guaranteed by the deposit, as well as a credit card provided free of charge to the account holder."
The bank explained that "the funds will be invested to serve the country and will be safe and guaranteed by the Iraqi Deposit Insurance Company, which is authorized by the Central Bank of Iraq, in addition to the benefits that the owner of this account will receive, which represents a product that is in harmony with the needs of the Iraqi family seeking to invest its money in the appropriate and safe place and benefit from generous monthly returns that raise the standard of living." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question: "If the rate is $3.22 and you go to the bank and exchange a 25,000 note in American dollars how much will that be?" $3.22 times 25,000 friend.
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
My bank guy did say dropping the zeros does not change the value. FRANK: He's right. Because it's going to be 1 to 1 with the American dollar. It doesn't effect it inside. It will effect it outside. No it will not change it. When it floats it will change it. FIREFLY: Poor countries with terrible inflation, they drop [zeros] in order to lop. We are not like that. We drop to add value. It's all inflation based. [Post 1 of 2....stay tuned]
Frank26 [Iraq boots-on-the-ground report] FRANK: Yes, you drop to add value inside of your country...They wanted to be at least 1 to 1 with the American dollar in order to add this value to your currency. That's why he means that dropping the zeros won't add value to your currency...Then your currency will float on the International market and the value of your currency goes up outside your country as well. Inside, it will go from 1320 to at least 1 American dollar in order to add value which is purchasing power...If it was a lop they would be adding zeros. [Post 2 of 2]
80% Of Banks 'Going Down’; $9 Trillion Of Debt Due Soon | Christopher Whalen
David Lin : 7-23-2024
Christopher Whalen, Chairman of Whalen Global Advisors, discusses the risks to the banking sector, opportunities for investors, market outlook, and current labor market conditions.
0:00 – Intro
1:00 - Market outlook
2:50 - Banking sector
6:50 - Liquidity issues
8:30 - Commercial real estate
9:50 - Debt maturing
13:20 – Unemployment
15:27 - Housing affordability
18:00 - Inflation outlook
20:15 - Liquidity crisis?
22:00 - De-dollarisation
26:10 - Fed policy
30:55 - Fiscal policies
32:10 - Tariffs
34:54 - Risk-on sentiment
36:00 - Banking consolidation
40:30 - DeFi and crypto
“Tidbits From TNT” Tuesday 7-23-2024
TNT:
Tishwash: IMF: Iraq, Qatar increase their gold holdings
Data from the International Monetary Fund showed an increase in gold reserves in Iraq and Qatar.
According to these data, in May 2024, Iraq increased its gold reserves by 2,644 tons to 148,305 tons.
The data showed that Qatar increased its gold reserves by 3,112 tonnes to 106,423 tonnes in June 2024, according to Reuters. link
TNT:
Tishwash: IMF: Iraq, Qatar increase their gold holdings
Data from the International Monetary Fund showed an increase in gold reserves in Iraq and Qatar.
According to these data, in May 2024, Iraq increased its gold reserves by 2,644 tons to 148,305 tons.
The data showed that Qatar increased its gold reserves by 3,112 tonnes to 106,423 tonnes in June 2024, according to Reuters. link
Tishwash: Iraq eyes drawdown of US-led forces starting September, sources say
Iraq wants troops from a U.S.-led military coalition to begin withdrawing in September and to formally end the coalition's work by September 2025, four Iraqi sources said, with some U.S. forces likely to remain in a newly negotiated advisory capacity.
The Iraqi position is being discussed with U.S. officials in Washington this week at a security summit and there is no formal agreement on ending the coalition or any associated timetable yet, the Iraqi sources and U.S officials said.
U.S. State Department spokesperson Mathew Miller told a news briefing that both sides were meeting in Washington this week to determine how to transition the U.S.-led coalition's mission based on the threat posed by Islamic State, adding he had no further details.
U.S.-led forces invaded Iraq in 2003, toppled former leader Saddam Hussein and then withdrew in 2011, only to return in 2014 to fight Islamic State at the head of the coalition.
The U.S. currently has around 2,500 troops in Iraq at the head of a more than 80-member coalition that was formed in 2014 to repel Islamic State as it rampaged across Iraq and Syria.
They are housed at three main bases, one in Baghdad, one in western Anbar province and another in the northern Kurdistan region.
It is unclear how many troops would leave under a deal, with Iraqi sources saying they expected most to eventually depart but U.S. officials saying many may remain under a newly negotiated advise and assist mission.
U.S. officials are keen to have some military footprint in Iraq on a bilateral basis, in part to help support its presence across the border in Syria, where it has around 900 troops.
The issue is highly politicized, with mainly Iran-aligned Iraqi political factions looking to show that they are pushing out the country's one-time occupier again, while U.S. officials want to avoid giving Iran and its allies a win.
There are also concerns about Islamic State's ability to regroup.
The jihadist group was declared territorially defeated in Iraq in 2017 and in Syria in 2019 but still carries out attacks in both countries and is on track to double its attacks in Syria this year compared to 2023, the U.S. military said.
The group and its affiliates have also in recent months carried out attacks in Iran and Russia, as well as in Oman last week for the first time.
While the coalition's mission is to advise and assist Iraqi forces in the fight against the Islamic State, Western officials say the U.S. and its allies also see its presence in Iraq as a check on Iranian influence.
Washington and Baghdad initiated talks on the future of the coalition in January amid tit-for-tat attacks between Iran-backed Shi'ite Muslim armed groups and U.S. forces that were sparked by the Israel-Hamas war.
An agreement to draw down the coalition could be a political win for Prime Minister Mohammed Shia al-Sudani, who has been under pressure from Iran-aligned factions to push out U.S. forces but has sought to do so in a way that balances Iraq's delicate position as an ally of both Washington and Tehran. link
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Tishwash: The Oil and Gas Law has been imprisoned in Parliament for 19 years and is threatened with deportation to the next session
The secret lies in the consensus of political forces
Political disagreements and a lack of consensus since the first session of the House of Representatives made the draft oil and gas law a victim and locked in parliament's drawers.
In each session, conflicts prevent its approval in its final form, as five parliamentary sessions have passed and the law has not been released until today.
The Parliamentary Oil, Gas and Natural Resources Committee expects that the law will be transferred to the next parliamentary session, despite the visit of the head of the Kurdistan Democratic Party, Masoud Barzani, early this month, to the capital, Baghdad, and his meeting with political leaders.
A member of the Parliamentary Oil and Gas Committee, Ali Al-Lami, said in an interview with Al-Mada, “One of the reasons for obstructing the approval of the oil and gas law is the continuing disputes between the governments of Baghdad and Erbil “
He added that his committee "sent the law at the beginning of the current parliamentary session to the government, and we met with the Prime Minister, the President of the Republic, and all the heads of blocs and parties, and we explained the importance of this law."
The member of the House of Representatives points out, “The law is unlikely to be approved during the current session, as it requires study and reading,” suggesting that “the law will be transferred to the next parliamentary session.”
The draft Iraqi oil and gas law regulates Iraq's vital sector and the management of the country's oil fields through one national company, with imports being deposited in one account.
Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasure's resources.
For her part, a member of the Parliamentary Oil and Gas Committee, Zainab Al-Moussawi, said in an interview with Al-Mada, “The law is almost complete, and to a high degree, but there are some objections about some points, which are summed up in the delivery of oil imports and exploited and unexploited natural resources to Baghdad.”
Al-Mousawi adds, “The Oil and Gas Law is concerned with regulating the country’s natural resources and exploiting the largest possible amount of undiscovered oil fields.”
She points out that "the law will also contribute to achieving self-sufficiency in oil derivatives and optimal exploitation of wasted natural resources, valued at hundreds of billions of dollars, which contribute to diversifying the state's financial resources."
The draft oil and gas law in Iraq available to Parliament stipulates that responsibility for managing the country's oil fields must be entrusted to and supervised by a national oil company.
In August 2023, the Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that “the draft oil and gas law is one of the basic and important laws, representing a factor of strength and unity for Iraq, and it has been stuck for years, At a time when the country today is in dire need of its legislation and to benefit from this natural wealth, in every way.” Fields and sectors, as well as the contribution of the legislation to solve many outstanding problems.”
He explained, “There are governorates that have not invested their wealth, which is considered negative for development endeavors in all their paths.”
In February 2022, the Federal Court in Baghdad ordered the region to deliver the oil produced on its lands to Baghdad, and to cancel contracts the region had signed with foreign companies.
The matter reached the point where the judiciary in Baghdad invalidated contracts with many foreign companies, especially American and Canadian companies. link
Mot: .... Why Didn't it Happen???? - Why!!!????
Mot: Beee Careful as Ya Become more Seasoned! - Slow down there, buddy!
News, Rumors and Opinions Tuesday AM 7-23-2024
Note From Dinar Recaps:
To our newest readers,
If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.
We hope all of our dreams come true very soon.
Your Dinar Recaps Team
Note From Dinar Recaps:
To our newest readers,
If you are new to the Dinar and Currency investment and wish to educate yourself further please go to Dinarrecaps .com . At the top of our blog page click on the categories button and go to The Dinar Recaps Archives or Post RV Categories for all our past posts on history of past RV’s, Exchange tips, Security and other valuable information.
We hope all of our dreams come true very soon.
Your Dinar Recaps Team
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 Tues. 23 July 2024
Compiled Tues. 23 July 2024 12:01 am EST by Judy Byington
Judy Note:
Greatest Financial Bubble in Human History was about to pop.
One month left of US Petroleum Reserves.
Global Currency Reset Funds (allegedly) Due Liquid on Tues. 23 July 2024.
Global Currency Reset: (Opinions/Rumors)
Mon. 22 July 2024 Wolverine (his Tues. 23 July):
“It is Tuesday afternoon here, and it is very cold. I am letting you know the Precatorios has started today from 3 o’clock onward and will actually be releasing their opera. They sent a note saying, “Tomorrow we will have a wonderful complete opera concert.”
“They will send me their opera so their people can celebrate. Finally a huge platform is going to be releasing funds to many people with billions of dollars involved. A lot of people will be astronomically blessed.
“Reno and Zurich are moving. Some whales are flying to Zurich, one huge Whale is now purchasing his airline ticket to fly down there.
“We are waiting to hear more news from bond holders. Waiting to get the miracle call this week.
“Nothing for 4B group – this is a letdown. I was told that some 4A groups have received payments, but not liquid money yet. It is a start. Hopefully, those accounts will become liquid this week.
“That is about it. The big news is that the Precatorios have started. I talked to the owner and he said “Wolvie, I am at the bank at the moment.” They have their green light and they will be released by tomorrow.
“I am waiting to receive the call so I can fly out. When that happens Carpathia and Shelby will be looking after the channel. I hope to have better news for all of you tomorrow.
“Story about a couple I just received: This couple was just about to hand over their house as they could not afford the mortgage, and that same day they saw the figures for their mortgage and they had zero balance. Their account has actually been cleared, so maybe Nesara is working and people are getting their accounts cleared. This was the same day they were to lose their home and this miracle occurred.
“I received a call this morning. Funds will be released tomorrow Tues. 23 July (later he changed it to Wed.) They will be liquid. I received an email saying the RV was imminent and about to commence. It’s official. Keep an eye on your emails.”
Mon. 22 July 2024: ALERT: Imminent Great Reset Exposed – Bank Crash and the Rise of XLM, XRP, ALGO, and XDC in the New Quantum Financial System (QFS) – amg-news.com – American Media Group
Gold Backed Currency Exchange Rates Revealed: https://ai3d.blog/new-podcast-gold-backed-currency-exchange-rates-revealed/
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Global Financial Crisis:
Mon. 22 July 2024 Report from the Office of the Comptroller of the Currency finds that half of large U.S. Banks are failing on operational risk.
This year interest on the US National debt will eat up 76% of the taxes collected. America is going bankrupt.
Read full post here: https://dinarchronicles.com/2024/07/23/restored-republic-via-a-gcr-update-as-of-july-23-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Once they remove these 3 zeros from the exchange rate...it's going to gain in the new value. But that's not where they wanted at the RI. They will float it and they will re-denominate and then it will hit an RV as it floats from an RI back to the RV.
SkyWalker Currency value and an exchange rate are two totally different things and are determined differently. Changing the exchange rate does not make value. Value is made by the monetary policies that CBI and Iraqi government have put in place...Now, the inflationary zeros will be removed because the government has met the requirements of the CBI and made an economic environment that will support both the value of the dinar and keep the economy humming along. Value through policies must be restored first which will be represented with new notes being lower denominations... Meaning the three zero notes will be physically removed from circulation and the lower notes without the extra zeros will be issued. Then and only then the exchange rate reflects an increase in the relative price of the Iraqi dinar compared to the price of another currency.
CBI Sells $274 Million Sundays Trading; Iraqi PM Fights for Iraq's Sovereignty
Edu Matrix: 7-23-2024
CBI Sells $274 million in Sundays Trading… Military Growth… Iraqi PM Fights for Iraq's Sovereignty.
More News, Rumors and Opinions Monday PM 7-22-2024
DJ: DID YOU KNOW?
July 21st Post 2024 (Procrastination)
With the troubles of the world in full swing daily, and the relentless narratives of Intel providers spewing exaggerated or expanded information of the engagement of the GCR, our minds go to a place of hope. But not the good kind.
Hope, while often a virtue, can foster procrastination when it becomes an expectation of future rewards rather than an active motivator for present action. When we hope for an ideal outcome, such as a sudden windfall or a perfect opportunity, we may convince ourselves that waiting is the best course of action.
This kind of hope can lead to a false sense of security, making us believe that our desired future will materialize on its own, without the need for our immediate effort.
DJ: DID YOU KNOW?
July 21st Post 2024 (Procrastination)
With the troubles of the world in full swing daily, and the relentless narratives of Intel providers spewing exaggerated or expanded information of the engagement of the GCR, our minds go to a place of hope. But not the good kind.
Hope, while often a virtue, can foster procrastination when it becomes an expectation of future rewards rather than an active motivator for present action. When we hope for an ideal outcome, such as a sudden windfall or a perfect opportunity, we may convince ourselves that waiting is the best course of action.
This kind of hope can lead to a false sense of security, making us believe that our desired future will materialize on its own, without the need for our immediate effort.
Consequently, we delay taking steps toward our goals, assuming that circumstances will eventually align in our favor. This passive hope, detached from action, transforms into a subtle but powerful form of procrastination, where the anticipation of future success undermines the imperative to act in the present.
Procrastination steals time and opportunity highlighting our tendency to delay tasks despite knowing their eventual necessity. While we waste our time hesitating and postponing, life is slipping away. While we may delay, time will not. At its core, this is the damage done by Intel providers with their misleading dialogs and exaggerations.
Whether it’s waiting for a perfect opportunity, a financial breakthrough, or a stroke of inspiration, this waiting game often leads to complacency. The idea of waiting for a windfall can be seductive. It offers the comfort of a future where everything falls perfectly into place without effort and often results in missed opportunities and unfulfilled potential. The belief in an imminent windfall can create this dangerous complacency. By postponing action, we often find ourselves unprepared when our supposed windfall arrives. This delay can lead to regret and the painful realization of wasted time.
As Aristotle suggested, “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” By developing habits of consistent effort and incremental progress, we can overcome the damage of procrastination and build a life of achievement and fulfillment.
The point is, absorb this information as it comes but don’t be so preoccupied with it that it changes the course your life might have otherwise taken. Be mindful of the stagnation and complacency it can cause and devote your efforts and time to it when you have it in hand.
If you know how to swim, waiting on the bank for a boat to show up may not be the best way across the water. These Intel providers keep telling you the boat is on the way, don’t let yourself get left on the bank stuck in the mud.
DJ
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KTfA
Henig: Vietnam: New decree on cashless payments
BY OANH H. K. NGUYEN, THUY VAN T. PHAM AND VIET TRUNG NGUYEN JULY 16, 2024
In brief
On 15 May 2024, the Government officially issued the new Decree No. 52/2024/ND-CP to regulate cashless payments (“Decree No. 52“). Decree No. 52 takes effect from 1 July 2024 and replaces the previous Decree No. 101/2012/ND-CP on cashless payments, as amended from time to time (“Decree No. 101“).
Among other things, Decree No. 52 sets forth regulations mainly on opening and using payment accounts, cashless payment services and intermediary payment services (IPS). Decree No. 52 aims to promote non-cash payments, facilitating the digital transformation of the banking industry and developing superior payment products and services.
Key takeaways
Decree No. 52 provides a number of significant changes and novel provisions, some of which are highlighted below.
Decree No. 52 imposes stricter requirements on entities wishing to provide the services. In addition, electronic money remittance support services are no longer considered a kind of IPS.
Decree No. 52 provides more detailed guidelines on how payments in foreign currencies and international payments are made. It also sets forth the conditions for entities wishing to participate in the international payment system.
The definition of electronic money (e-money) is introduced for the first time, and e-wallets and prepaid cards are accordingly regulated as a mean to store e-money.
More in-depth in the rest of the story at the link--this is a fairly long article, didn't want to take up too much bandwidth on this site.
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
TV saying Iraqis are keeping 90 trillion dinar at home hoarding them from the banking system still. We say make the dinar worth something and we will bring them in. FRANK: Why does the CBI want the 3-zero notes back? Because they need to replace them with the lower notes. Why are you getting lower notes? Because you're getting a new exchange rate.
Jeff There was a perception out there that the rate was going to change before the July 18th accession date to the World Trade...This was their 3rd accession World Trade meeting. There's a 4th meeting coming in Q1 of next year of '25...Many thought Iraq would become a full member as of July 18th. None of that happened.
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Banks Are Closing Branches Fast
Economic Ninja: 7-22-2024
Seeds of Wisdom RV and Economics Updates Monday Afternoon 7-22-24
Good Afternoon Dinar Recaps,
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding: SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry.
Good Afternoon Dinar Recaps,
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding:
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry.
States like Iowa, which have been at the forefront of protecting scam victims and prosecuting scammers, view the SEC’s actions as a significant overreach.
“The Biden SEC is trying to prevent states like Iowa from doing their job to hold robbers to the law and protect families from the dangers of cryptocurrency scams. This power grab will also hurt the free market and allow the SEC to take the regulatory reins over the cryptocurrency industry with no accountability,” the announcement continues.
Noting that the SEC’s “bypassing Congress to give itself new power is illegal, stifles innovation, and will let scammers off the hook,” the Iowa Attorney General’s Office noted, emphasizing:
The Biden SEC is attempting to abuse its power and put itself in charge of regulating cryptocurrency, bypassing state consumer-protection laws.
“Congress never gave the SEC power to regulate cryptocurrency, and there is no accountability to ensure the actions the SEC takes are legitimate and necessary,” the Iowa Attorney General’s Office stressed.
The amicus brief explains that the SEC is violating the Administrative Procedure Act and the Major Questions Doctrine by bypassing Congress. The states argue that typical cryptocurrencies are not investment contracts under the Securities Act of 1934, urging the court to prevent the SEC from exceeding its authority.
@ Newshounds News™
Read more: Bitcoin
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Japan’s Fast And Early Approach To Crypto Regulation Is Paying Off
Japan was a rare exception when it came to regulating crypto. Following the catastrophic collapse of Mt.Gox in 2014 – a Japan-based company – the government moved fast and early to clamp down on what was seen as an excessively risky industry. It introduced strict rules for operators, putting them under the oversight of the country’s financial regulator.
That decision means that ten years on, Web3 in Japan is evolving quite differently compared to the startup culture that’s characterized the sector in other countries. Instead, we’re seeing a more prevalent trend of large corporations levering their way into Web3 via strategic M&A and investment activities.
To date, banking giant Softbank has been one of the
most active players, acquiring a controlling stake in crypto trading platform BITPoint in 2022 and becoming a key investor in a dedicated Web3 venture fund initially set up by Deutsche Bank.
However, the latest news, that Sony is gearing up to launch a rebranded crypto exchange called. S.BLOX, as a result of a 2023 acquisition of local platform Whalefin, has created a froth in the crypto community.
I recently spoke to Mai Fujimoto, co-founder of INTMAX, who was fresh from the Japan Blockchain Week Summit which she hosted in early July. She confirmed that, based on the lineup of this year’s event, the corporate move into Web3 is becoming a trend:
“This [Sony] is just one such example. We just hosted many speakers from large corporations [at Japan Blockchain Week], which stood out on the Web3 conference circuit. I believe this is unique to Japan. In the United States, Coinbase and Base
Chain have significantly contributed to the penetration of Web3 in the country, so we can expect similar synergies to occur in Japan as well.”
@ Newshounds News™
Read more: Forbes
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IOTA’s Product Passport Could Be Used by Tesla, Audi, Porsche, BMW, and VW After Eviden Partnership
—IOTA’s Product Passport with Eviden enhances transparency for Tesla, Audi, Porsche, BMW, and VW, letting consumers track vehicle history and build trust.
—IOTA’s Digital Product Passports optimize production, maintenance, and recycling, improving supply chains for major automotive brands.
When it comes to cutting-edge data solutions while securing privacy to the highest level, IOTA is at the forefront as highlighted in one of our previous coverages.
According to the latest update from IOTA on the newly established partnership, the IOTA Foundation and Eviden, a subsidiary of Atos, are collaborating on the Eviden Digital Passport Solution (EDPS), which is “Powered by IOTA.”
EDPS is one of the first ready-to-use, DLT-based Digital Product Passports (DPPs) on the market and the first at this scale to utilize IOTA technology.
This upgrade provides detailed lifecycle information about products, enhancing transparency, traceability, and sustainability. Dominik Schiener, Co-Founder and Chair of the IOTA Foundation, stated:
This partnership leverages our unique joint benefits and creates a strong combination of capabilities, ready for the market to use. This is a long-term collaboration between Eviden and the IOTA Foundation, and we will work closely together to explore further use cases in domains such as construction materials, textiles, and consumer electronics, amongst others. We expect millions of passports to be registered on the IOTA network by the end of the decade.
IOTA and Eviden Enhancing Transparency and Traceability for Major Automakers
Eviden, with leading positions in computing, security, AI, and digital platforms, provides expertise across various industries in more than 47 countries. Importantly, the collaboration with the IOTA Foundation is expected to significantly impact major automakers, including Tesla, Audi, Porsche, BMW, and Volkswagen.
This partnership will enhance transparency and traceability throughout their supply chains, allowing consumers to track the origin and history of their vehicles, building trust in these brands. At the same time, manufacturers can optimize production processes, streamline maintenance, and improve recycling efforts.
At the time of writing, IOTA is trading at $0.1769, with a decrease of 0.43% and a surge of 7.48% in the past week.
@ Newshounds News™
Read more: Crypto News Flash
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WHAT IS A CURRENCY RE-DENOMINATION?
"Redenomination is the recalibration of a country's currency, typically due to hyperinflation and currency devaluation, whereby an old currency is exchanged for a new one at a fixed rate. "
"While significant inflation is the main reason for a country to redenominate its currency, other reasons include decimalization or joining a currency union. When redenomination occurs, old banknotes and coins are typically taken out of circulation and a new currency is issued. Sometimes, the old currency continues to circulate at a fixed value against the new notes. "
"When redenomination occurs, a new value is established for the new banknotes and coins. For example, in 2006, Zimbabwe redenominated its currency at a rate of 1,000 old Zimbabwe dollars to one new Zimbabwe dollar."
"When hyperinflation is involved, redenomination becomes necessary because it requires too many old notes to facilitate commerce. Small bills essentially become useless if you need a wheel barrel of them to buy a loaf of bread. "
" Probably the most famous redenomination has been the Zimbabwean dollar, which circulated in Z$100 trillion bills—the largest denomination of currency ever issued—thanks to an annual inflation rate of more than 231 million percent.
The Zimbabwe government redenominated its currency several times starting in 2006. In that year, the country's first currency reform was launched in an effort to contain inflation. The Zimbabwean dollar was redenominated at a rate of 1,000 to one."
" In August 2008, the government launched another redenomination. Old notes could be exchanged for new ones at a rate of 10 billion to one. Inflation continued unabated, and new issues of currency with staggering face amounts continued to appear. In January 2009, Z$10 trillion, Z$20 trillion, Z$50 trillion, and Z$100 trillion notes were issued.
In February 2009, the government redenominated a third time. Old currency could be exchanged for new currency at a rate of one trillion to one. By then, most people had quit the Zimbabwe dollar in favor of the U.S. dollar and South African rand."
@ Newshounds News™
Read more: Investopedia
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CFTC Chairman Behnam Urges Congress For Increased Crypto Regulation: We Are 'On The Front Lines' | Youtube
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US Pressure on Latin America to Avoid BRICS: Lost America's Backyard?
US Pressure on Latin America to Avoid BRICS: Lost America's Backyard?
Fastepo: 7-22-2024
Despite the BRICS group's recent pause on accepting new full members, particularly emphasized by the Russian Foreign Minister, Brazil has actively advocated for the bloc's continued expansion.
Brazilian Ambassador to Russia, Rodrigo de Lima Baena Soares, revealed Brazil's proposal of Colombia as a potential new BRICS member, as reported by the Russian News Agency TASS.
This strategic recommendation was underscored by Brazilian President Luiz Inacio Lula da Silva during discussions with Colombian President Gustavo Petro, highlighting Colombia's significance in the expansion plan.
US Pressure on Latin America to Avoid BRICS: Lost America's Backyard?
Fastepo: 7-22-2024
Despite the BRICS group's recent pause on accepting new full members, particularly emphasized by the Russian Foreign Minister, Brazil has actively advocated for the bloc's continued expansion.
Brazilian Ambassador to Russia, Rodrigo de Lima Baena Soares, revealed Brazil's proposal of Colombia as a potential new BRICS member, as reported by the Russian News Agency TASS.
This strategic recommendation was underscored by Brazilian President Luiz Inacio Lula da Silva during discussions with Colombian President Gustavo Petro, highlighting Colombia's significance in the expansion plan.
In addition, Bolivia, under the leadership of President Luis Arce, has formally sought BRICS membership. Bolivia's vast lithium reserves, essential for sustainable energy solutions, make it an attractive candidate for the bloc.
Similarly, Venezuela, led by President Nicolás Maduro, has expressed a strong desire to join BRICS, emphasizing its substantial oil reserves. Venezuela's application has garnered support from China, Russia, and Brazil, underscoring its strategic importance.
The expansion of BRICS into Latin America represents a significant geopolitical shift, diminishing the influence of the United States, which has traditionally viewed the region as its geopolitical "backyard."
By incorporating more Latin American countries, BRICS aims to create a counterbalance to U.S. economic and political dominance. This move is expected to enhance regional integration, reduce dependence on U.S. markets, and promote a more diversified economic base.
In this video, we analyze the significance of Colombia, Bolivia, and Venezuela's potential inclusion in BRICS and its implications for both BRICS and the United States.
This development could potentially reshape the global order, altering economic alliances and geopolitical strategies.
We will explore how this move could challenge U.S. dominance in Latin America and enhance BRICS' influence on the world stage, thereby creating a new dynamic in international relations.
The Rise of the Shanghai Cooperation Organization: A New Geopolitical and Military Force
The Rise of the Shanghai Cooperation Organization: A New Geopolitical and Military Force
On July 20, 2024 By Awake-In-3D
The SCO is reshaping global geopolitics and will independently protect the new GOLD-BACKED Currency and Financial System
In This Article:
Introduction to the SCO’s growing influence
The recent SCO summit in Astana and Western media’s oversight
BRICS’ new financial system and the SCO’s role in securing it
The future of Eurasian alliances and the concept of Rimland
The Rise of the Shanghai Cooperation Organization: A New Geopolitical and Military Force
On July 20, 2024 By Awake-In-3D
The SCO is reshaping global geopolitics and will independently protect the new GOLD-BACKED Currency and Financial System
In This Article:
Introduction to the SCO’s growing influence
The recent SCO summit in Astana and Western media’s oversight
BRICS’ new financial system and the SCO’s role in securing it
The future of Eurasian alliances and the concept of Rimland
The geopolitical landscape is undergoing a significant transformation with the rise of the Shanghai Cooperation Organization (SCO).
Formed initially to combat terrorism and extremism, the SCO has evolved into a formidable economic and geopolitical entity. Its growing influence, alongside BRICS+, signals a shift that Western alliances like NATO and the G7 must acknowledge and adapt to.
Understanding the Shanghai Cooperation Organization Transformation
The Shanghai Cooperation Organization was established just months before the events of 9/11.
Initially known as the Shanghai Five, it included Russia, China, and three Central Asian states. Its primary focus was anti-terrorism, anti-separatism, and anti-extremism. Over the years, the SCO has expanded its scope, now including major Eurasian nations such as India, Pakistan, and Iran, making it a significant player on the global stage.
The recent SCO summit in Astana, Kazakhstan, highlighted this transformation. Despite the event’s importance, Western media largely overlooked it.
This lack of coverage reflects a broader misunderstanding of the SCO’s growing geopolitical influence. The summit underscored the SCO’s role as a key node in a multipolar world, interconnected with various global players.
BRICS’ New Financial System and the SCO’s Role
One of the most significant developments in global finance is BRICS’ move towards a new financial system based on gold-backed currencies.
This initiative aims to create an alternative to the Western-controlled economic mechanisms, providing stability and reducing dependence on the US dollar. However, establishing such a system requires robust geopolitical and military support to ensure its security and legality.
Enter the SCO. With its expanding membership and strategic influence, the SCO is poised to play a crucial role in protecting the integrity of BRICS’ new financial system. The collaboration between these two organizations could ensure the enforcement of economic agreements, protect member states from external threats, and maintain the stability of the new financial system.
The presence of powerful nations like Russia, China, India, and Iran within the SCO enhances its capability to support BRICS in this endeavor.
Potential Impacts on NATO and U.S. Geopolitical Strategies
The strategic significance of Europe and the Mediterranean remains crucial. However, the rise of the SCO and BRICS+ poses a challenge to Western dominance.
If the U.S. and NATO do not recognize and adapt to these shifting alliances, they risk losing influence over Eurasia and the Rimland.
The Rimland, a geopolitical concept introduced by American political scientist Nicholas Spykman, refers to the coastal fringes of Eurasia. This region is strategically vital, serving as a buffer zone between the central Heartland of Eurasia and the world’s oceans.
Controlling the Rimland is essential for global dominance, providing access to crucial maritime routes and Eurasia’s vast resources and markets.
The Future of Eurasian Alliances
The potential unification of the SCO and BRICS+ into a more strategic and possibly military organization could further diminish Western hegemony.
The increasing cooperation among these entities suggests a move towards a unified Eurasian geopolitical landscape. Such a development could redefine global power dynamics, with significant implications for the West.
The SCO’s evolution from an anti-terrorism organization to a geopolitical force underscores the importance of understanding and engaging with emerging multipolar structures. As the SCO and BRICS+ continue to grow, their influence will shape the future of global geopolitics, challenging traditional Western dominance.
The Bottom Line
The Shanghai Cooperation Organization is rapidly becoming a geopolitical force to be reckoned with.
Its growing influence, alongside BRICS+, highlights the need for the U.S. and NATO to recognize and adapt to the shifting global landscape. The recent SCO summit in Astana underscores the organization’s strategic importance in reshaping global geopolitics.
As Eurasian alliances strengthen, the concept of Rimland and its strategic significance will play a crucial role in determining the future of global power dynamics. With BRICS forming a new financial system based on gold-backed currencies, the SCO’s role in securing this system becomes paramount.
The potential unification of the SCO and BRICS+ poses a significant challenge to Western hegemony, signaling the rise of a new, multipolar world order.
Supporting Article: https://strategic-culture.su/news/2024/07/18/the-sco-can-change-the-rules-of-rimland/
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© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
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News, Rumors and Opinions Monday AM 7-22-2024
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. 22 July 2024
Compiled Mon. 22 July 2024 12:01 am EST by Judy Byington
Black Swan Events Imminent
Greatest Financial Bubble in Human History About To Pop:
Stocks To Lose Their Value
It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for your family and to share with others in case of emergency.
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. 22 July 2024
Compiled Mon. 22 July 2024 12:01 am EST by Judy Byington
Black Swan Events Imminent
Greatest Financial Bubble in Human History About To Pop:
Stocks To Lose Their Value
It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for your family and to share with others in case of emergency.
Judy Note: The greatest Financial Bubble in Human History was about to pop: Stocks to lose over 50% of their value – that would bring in a Global Financial Collapse – something both the Black and White Hats wanted.
With a collapse of the Global Financial System the Deep State Black Hats would bring in their non asset-backed digital currency that could control everyone’s bank accounts, and lives.
The White Hats appeared to have one up on the Cabal as they have already involved over 50% of the World population in their Global Currency Reset to gold/asset-backed currencies that would trade at a 1:1 with each other.
40 Countries Express Interest To Join BRICS Before 2024 Summit: https://watcher.guru/news/40-countries-express-interest-to-join-brics-before-2024-summit
What is Quantum Banking? Quantum Banking is a new type of banking system that makes use of quantum technologies. This system has the potential to revolutionize the banking sector by providing more secure and efficient banking services as it can handle large amounts of data quickly and accurately. https://thequantuminsider.com/2021/06/23/11-global-banks-probing-the-wonderful-world-of-quantum-technologies/
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Global Financial Crisis:
Black Swan’ investor warns the ‘greatest bubble in human history’ is about to pop and stocks could lose more than half their value. https://fortune.com/2024/07/20/black-swan-investor-mark-spitznagel-greatest-bubble-human-history-stock-market-crash-recession/
Boots to close down 300 stores by the end of summer – full list of axed shops: https://www.mirror.co.uk/news/uk-news/boots-pharmacy-store-closures-list-33286696?utm_source=linkCopy&utm_medium=social&utm_campaign=sharebar
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Executive Order 1221 involves:
Economic Collapse and Transition to the Quantum Financial System: A planned economic collapse is a central aspect of Executive Order 1221. This controlled demolition of the current financial system aims to eliminate debt and corruption, paving the way for the introduction of the Quantum Financial System (QFS). The QFS promises unprecedented security, transparency, and efficiency, leveraging advanced technologies to manage financial transactions. The transition to the QFS will involve a Global Currency Reset, reverting to 1950s price levels. This reset will stabilize economies, restore purchasing power, and eliminate the disparities created by inflation and market manipulation. While the immediate impact will be disruptive, the long-term benefits are expected to be transformative.
The removal of Bitcoin (BTC), Ethereum (ETH), and China Coin (CCP) from circulation to stabilize the global economy and prevent the misuse of these digital assets by malicious actors. The eradication of these cryptocurrencies will require coordinated global action, including the seizure of mining operations and the shutdown of trading platforms. This move is expected to cause significant disruption in the financial markets, but it is seen as a necessary step to pave the way for a more secure and regulated financial system.
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Sun. 21 July 2024 NESARA/GESARA Update, David Wilcock
NESARA implements the following changes:
Zeros out all credit card, mortgage, and other bank debt due to illegal banking and government activities. This is the Federal Reserve’s worst nightmare: a “jubilee” or a forgiveness of debt.
Abolishes the income tax.
Abolishes the IRS. Employees of the IRS will be transferred into the US Treasury national sales tax area.
Creates a 14% flat rate non-essential ‘new items only’ sales tax revenue for the government. In other words, food and medicine will not be taxed; nor will used items such as old homes.
Increases benefits to senior citizens
Creates a new U.S. Treasury, ‘rainbow currency,’ backed by gold, silver, and platinum precious metals, ending the bankruptcy of the United States initiated by Franklin Roosevelt in 1933.
Initiates new U.S. Treasury Bank System in alignment with Constitutional Law
Eliminates the Federal Reserve System. During the transition period the Federal Reserve will be allowed to operate side by side of the U.S. Treasury for one year in order to remove all Federal Reserve notes from the money supply.
Restores financial privacy.
Releases enormous sums of money for humanitarian purposes
Read full post here: https://dinarchronicles.com/2024/07/22/restored-republic-via-a-gcr-update-as-of-july-22-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick Iraq never said they were coming out at 1 to 1...It was actually established during the Paris Club Agreement. That was said to Iraq, Shabibi, at least 1 to 1 with the American dollar.
Frank26 Do they need to have value to their currency in order to join the WTO? No. That's coming...I don't care if they going into the WTO now, tomorrow, next week, whenever. They're probably moving it to the beginning of next year. It's not important. But the evidence of being in the WTO screams what? Monetary reform float.
BREAKING US Okays Iraq Purchase of Electricity from Iran in 120 Degree Temperatures
Edu Matrix: 7-21-2024
BREAKING US Okays Iraq Purchase of Electricity from Iran in 120 Degree Temperatures. The US authorizes the sale of electricity from Iran to Iraq.
PROOF That They are LYING about the Economy!
Atlantis Report: 7-21-2024
There is a common narrative about the state of the economy that's often promoted by mainstream media and political figures, particularly those supporting this current administration.
According to this narrative, everything is going great - the economy is booming, inflation is under control, and the labor market is thriving.
However, many Americans find it hard to believe these optimistic reports because their daily experiences don't align with them.
The stark disparity between official economic accounts and personal experiences has prompted many to doubt the honesty of economic reports. Here's PROOF That They are LYING about the Economy.
Awake-In-3D: New Podcast: Gold-Backed Currency Exchange Rates Revealed
New Podcast: Gold-Backed Currency Exchange Rates Revealed
On July 21, 2024 By Awake-In-3D
In Podcasts
In this unique episode of the Endgame GCR Podcast, Marie G and I break down the details of the new gold-backed financial and currency system soon to be unleashed on the world.
We also discover a very exciting result that fulfills one of the primary goals of the RV/GCR.
New Podcast: Gold-Backed Currency Exchange Rates Revealed
On July 21, 2024 By Awake-In-3D
In Podcasts
In this unique episode of the Endgame GCR Podcast, Marie G and I break down the details of the new gold-backed financial and currency system soon to be unleashed on the world.
We also discover a very exciting result that fulfills one of the primary goals of the RV/GCR.
https://ai3d.blog/new-podcast-gold-backed-currency-exchange-rates-revealed/
More News, Rumors and Opinions Sunday PM 7-21-2024
KTFA:
Clare: The Central Bank of Iraq imposes financial penalties on banks and exchange companies amounting to 43 billion dinars
7/21/2024
The Central Bank of Iraq announced on Sunday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 43 billion Iraqi dinars during the past three months.
A table of the bank, which Shafaq News Agency reviewed, showed that the fines imposed on banks and financial companies during the past three months, starting from last April until the end of last June, amounted to 43 billion, 465 million, 532 thousand, and 931 dinars.
KTFA:
Clare: The Central Bank of Iraq imposes financial penalties on banks and exchange companies amounting to 43 billion dinars
7/21/2024
The Central Bank of Iraq announced on Sunday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 43 billion Iraqi dinars during the past three months.
A table of the bank, which Shafaq News Agency reviewed, showed that the fines imposed on banks and financial companies during the past three months, starting from last April until the end of last June, amounted to 43 billion, 465 million, 532 thousand, and 931 dinars.
The table showed that “the fines also included 102 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts, and grace periods.”
The table showed that "May witnessed the highest fines on banks and non-financial institutions, as these fines reached 34 billion, 2 million, 141 thousand, and 100 dinars, with 42 administrative penalties, while June witnessed the lowest fines, reaching 2 billion, 829 million, 157 thousand, and 288 dinars, with 30 administrative penalties."
The table did not show the names of the banks that were fined and subjected to administrative penalties.
The Iraqi Stock Exchange Investors Association had criticised the Central Bank of Iraq’s increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks. LINK
Clare: Iraq intends to connect its electricity with Kuwait and the Gulf at the end of the year, and then with Saudi Arabia
7/21/2024
Prime Minister Mohammed Shia al-Sudani confirmed on Sunday that his government intends to link Iraq's electricity with Kuwait and the Gulf Interconnection Authority at the end of 2024, and then move to link with Saudi Arabia to diversify energy sources when demand increases during peak times in the country.
Al-Sudani said in a speech during the opening of the Iraqi-Turkish electricity linkage project, "The value and importance of this project is that it had been suspended since 2004, and it had been planned since the nineties of the last century, and today it has been completed in coordination with the Turkish Ministry of Energy."
He added, "The value of this project is that for the first time we have an international connection with neighboring Turkey and then to the European Union, and this is an important and strategic factor for energy at the future level."
Al-Sudani added, "After we were able to connect with the Jordanian side, and today with Turkey, and hopefully at the end of this year with Kuwait and the Gulf Interconnection Authority, then we will head to complete our important project with Saudi Arabia so that Iraq can complete its communication with the regional energy system in a way that allows for diversity and exchange in various conditions of peak electrical loads." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Removing the zeros from the Iraqi currency talks returns and possibility of implementation" How is that possible...without having value? ...When they talk about removing zeros from the Iraqi currency they're talking about returning to a previous era. They're talking about the glory days. I think everybody...knows in the country too, I just can't say we can prove it from a link in print. But the expectation is Iraq is going to bring value to their currency. We know that by Al-Sudan's comments...that the Iraq dinar would be 1 dollar...equal 1.32 dinar.
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
My bank guy said when the zeros come off the exchange rate it's going to change the value of our currency and then your brother who is in the Untied States of America, they can exchange their notes with the 3-zeros after the RI takes action.
"There's Nowhere Else To Kick The Can" | Lyn Alden
Liberty and Finance: 7-20-2024
Lyn Alden explores the diminishing impact of interest rate cuts on the U.S. economy
With interest rates now higher than in recent decades, Alden argues that the economy's insensitivity to rate changes stems from the high level of fixed-rate debt held by both consumers and businesses. She explains that, unlike past cycles, current rate cuts may have limited effects on economic activity and housing market dynamics.
She also touches on the broader implications for asset markets, including the potential impact on housing inventory and the comparative experience of Japan's long-term economic challenges.
Rick Rule: $100 Trillion Dollars in Liability; Why This is Far Worse Than Post Vietnam Dollar Crisis
Daniela Cambone: 7-20-2024
"The U.S. dollar will lose substantial purchasing power in the next 10 years," warns Rick Rule, founder and CEO of Rule Investment Media.
During this year's Rule Symposium in Florida, he explained to Daniela Cambone that exploding liabilities, including $100 billion in entitlements such as Medicare, Medicaid, and Social Security, are likely to greatly devalue the U.S. dollar. Rule also emphasized the importance of owning gold to hedge against future uncertainties.
“I own gold because I'm afraid it's going to go to $8,000 or $9,000 or $10,000. I really want to be wrong. And you own gold hoping you'll never have to sell it,” he concludes. Watch the powerful video to learn more about his thoughts.