“Tidbits From TNT” Thursday 8-8-2024

TNT:

Tishwash:  Iraq raises its gold holdings to more than 148 tons

 The World Gold Council announced today, Thursday, that Iraq has increased its gold holdings to more than 148 tons.

According to the latest report published by the Council in August 2024, which was reviewed by Al-Eqtisad News, Iraq advanced one rank to reach 29th place globally out of 100 countries included in the table, after it was ranked 30th. 

The report indicated that Iraq ranks third in the Arab world after Saudi Arabia and Lebanon.

The report indicated that Iraq increased its gold holdings to 148.3 tons, after it was 145.7 tons, which represents 10.02% of its total other reserves.

The Council also indicated that the United States tops the list of countries with the largest gold reserves in the world, with 8,133.5 tons, followed by Germany with 3,351.5 tons, then Italy with 2,814 tons, while Suriname came at the bottom of the list with 1.2 tons.

The World Gold Council, headquartered in the United Kingdom, has extensive experience in analyzing market changes and includes the world's largest gold mining companies as members.  link

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Tishwash:  Al-Qurayshi: Political and economic interests are behind the American forces remaining in Iraq

State of Law coalition member Saad al-Quraishi confirmed that political and economic interests are behind the continued presence of American forces inside Iraq.

Al-Quraishi told Al-Maalouma, “Political and economic interests may be an excuse used by some parties to keep American forces inside Iraq and not take a decisive decision to leave the country.”

He added, "Iraq cannot currently remove American forces from its territory due to the lack of political will."
He stated that "Iraq will not benefit at all from the presence of American forces on its territory, as Washington is the first party to benefit from the presence of its forces inside Iraq to ensure its dominance over the region."

He pointed out that “the American presence in Iraq was imposed by Washington and not at an Iraqi request.”  link

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 Tishwash:  Saleh: There is no problem with liquidity at all, and what happened in the American markets requires caution.

The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, denied the existence of a problem with the cash liquidity in the Iraqi currency.

Saleh said in a press statement, "There is no problem with liquidity at all because it is covered by foreign currency," indicating that "the mechanism for obtaining cash liquidity is that oil sales are converted into US dollars, and when the government needs the dinar for internal exchange, it exchanges oil sales for dollars and goes to the cash issuing bank, which is the central bank, to give it the currency."

He pointed out that "the Central Bank, in order to maintain market stability, sells foreign currency to the market through a currency sale window and auction, to withdraw liquidity again and then repeat it again to achieve natural growth in the issued currency."

Regarding the size of the monetary mass, Saleh explained that “there was an increase in liquidity during the year, as the issued currency became around 100 trillion dinars, after it was 80 trillion dinars,” stressing that “these booms do not have an impact as long as they are covered by foreign currency.”

The Prime Minister's financial advisor believes that economic circles around the world were surprised by the sharp fluctuations and declines in the US stock market amid a wave of panic over fears of a possible recession in the world's largest economy, and that "these declines were based on a combination of local and global economic factors that led to a weakening of investor confidence in the performance of the US economy. If the situation continues for six consecutive months, the recession will turn into a major depression that will hit all economies around the world."

Saleh pointed out that “the US Energy Information Administration had previously announced that it expected average prices to reach about $89 per barrel for the rest of 2024, but there is a gradual decline in global oil prices, which has begun to coincide with the decline in the value of financial assets in the US markets, especially the decline in the benchmark oil (Brent crude), which ranges around $76 per barrel for futures contracts after reaching nearly $88 per barrel last June, which requires more caution and economic precaution.”  link

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Tishwash:  Al-Alaq: The financial situation in Iraq is going according to plan 

The Governor of the Central Bank, Ali Al-Alaq, confirmed the stability of the financial situation in Iraq, and revealed new mechanisms to facilitate foreign trade, including a new mechanism for small traders’ transfers. He also pointed to the importance of the upcoming meeting in New York to resolve the problem of sanctioned banks, stressing the existence of a government move to strengthen the banking sector.

Financial situation in Iraq

Al-Alaq confirmed in an interview with the Iraqi News Agency (INA) that "the financial situation in Iraq is still proceeding according to what is planned in the state's general budget, despite external and local challenges." He explained that "there is high coordination between the Central Bank, the Prime Minister and the Ministry of Finance to ensure the stability and sustainability of the financial aspect."

He added: "We are working closely with the Ministry of Finance to implement the financial plan drawn up in the general budget, which ensures that the objectives, programs and needs are covered." He also pointed out that "the rotation of allocations for governorates and ministries is happening for the first time, which contributes to providing the necessary balances for their role."

Foreign trade

Al-Alaq stated that “the Central Bank is making a major shift in organizing foreign trade to achieve transparency in foreign transfer operations, starting from the transfer and reaching the final beneficiary.” He explained that “this process includes international auditing institutions to ensure that the information is in line with local and international standards.”

Al-Alaq pointed out that "the audit process used to be conducted later, but now the process does not proceed unless all conditions and documents are met." He stressed that "large and medium-sized importing companies have adopted this new system, which contributes to securing their imports with high fluidity."

Other international currencies

Al-Alaq said: “The Central Bank has opened channels for Chinese, Turkish, Indian and Emirati currencies, which represent a significant weight in foreign trade.” He added that “the suspension of these operations for a period was aimed at providing sufficient oversight of these operations, and that a new audit mechanism has been put in place by an international company.”

He explained that "commercial foreign transfer operations are now subject to review by the competent international company, to ensure the safety of the operations."

The difference between the market and the official price

Al-Alaq confirmed that "the Central Bank sells more than $250 million daily at the official price to cover foreign trade, which explains the absence of inflation or price increases." He explained that "the parallel market consists of illegal trade or trade escaping from the fundamental procedures."

Al-Alaq pointed out that "the view of the dollar price should focus on the Central Bank's sales at the official price to settle various needs."

low inflation

"The central bank's main goal is to maintain the general price level and limit inflation," Al-Alaq said. "Monetary policy has succeeded in controlling this aspect, as the level of inflation in Iraq is much lower compared to other countries," he added.

Cooperation with the US Treasury

Al-Alaq praised the cooperation with international organizations such as the International Monetary Fund, the Federal Reserve and the US Treasury, explaining that "there is great praise for the transformations, management and organization of the external transfer process in the Central Bank of Iraq."

Al-Alaq pointed out that "the Central Bank is working to create a direct relationship between the Iraqi bank and the correspondent without going through the Federal Bank, with the aim of facilitating transfer operations."

Upcoming meeting in New York

Al-Alaq announced that "meetings will be held with the Federal Reserve and the US Treasury Department at the end of August to review all aspects related to external transfer operations and discuss sanctions on some banks."

Lifting restrictions on banks

Al-Alaq stressed that "lifting restrictions on some banks is of interest to the Central Bank," noting that "the banking reform plan includes auditing previous operations and contracting with an international consulting firm to develop a future strategy for the banking sector."

Housing Initiative

Al-Alaq revealed "a government move to increase capital to support the housing sector through the Real Estate Bank and the Housing Fund." He added that "the Central Bank plays an exceptional role in bridging the housing financing deficit."

Al-Alaq explained that "the government will increase the capital of the Real Estate Bank and the Housing Fund to support the housing sector," stressing that "the Real Estate Bank will work to meet all requests to purchase housing units."   link

Mot: ....... ole ""Earl"" is on His Own

Mot:  .. I'm Sacred! - I'm Sacred! - LOUDER - I'M SCARED! - I'M SCARED!

News, Rumors and Opinions Thursday AM 8-8-2024

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. 7 Aug. 2024

Compiled Wed. 7Aug. 2024 12:01 am EST by Judy Byington

“Get Ready for The Greatest Transfer of Wealth in the History of Mankind”
…Wolverine on Telegram Tues. 6 Aug. 2024

“There is a Black Swan Stock Market Crash on the horizon that will have a huge impact across the world and lead to a Global Currency Transition in 209 countries. To ensure that this actually happens, a DEFCON ONE ALERT has already been issued.”…Mr. Pool on Telegram Tues. 6 Aug. 2024

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Possible Timing: (Rumors/Opinions)

Mon. 5 Aug. 2024 Charlie Ward: “When Israel and Iran go to war it will be the cover for the RV.”

Pending Worldwide Stock Market Crash = Defcon Alert Issued = Global Currency Reset, Possible Timing, Charlie Ward

There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.

NESARA will be announced to the world, which will show that EVERYTHING NEW is beginning.

Then through the EBS, they will show documentaries of everything that has happened to wake up the masses.

At the end of the 12 days, they will give out an 800 number for individuals to call to obtain an appointment to set up your Quantum money account on the new Starlink Satellite System.

There were 75 Deep State Banks that were seized and all assets and accounts closed. All the Cabal’s Central Banks have been taken over, with assets entered into the Quantum Financial System (QFS).

The QFS is run on Blockchain where nothing fraudulent can happen because everything is traceable. They can see where all money goes, which stops corruption in its tracks.

Apparently all people have a sum of money in an individual Quantum Financial Account.

The seized assets of the Cabal were moved to those Quantum Financial Accounts of The People. All monies in trust funds were moved to individual QFS accounts. All our bank accounts, savings accounts and retirement accounts were safe in the new Quantum System.

The only monies not reflected in individual Quantum Accounts were investments and shares on the Stock Market. All that will be gone! It is advised to get out of the Stock Market immediately.

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Thurs, Fri. 8, 9 Aug. 2024: “I just saw something that really made me stop and say huh. Kevin O’Leary was being interviewed for his opinion on the economy and how bad it is being handled, he said just wait until August 8 and ninth. There is going to be a major Nexus August 8 and ninth, a major transformation of the world economy.

He didn’t say revaluation he said transformation coming from somebody like Kevin O’Leary. If you don’t know who Kevin O’Leary is, he’s one of the richest men in the World and he helps people make money. He understands the stock market understand national economy it doesn’t matter it is if it is the USA, Canada, Great Britain, China, any country he understands how the economy is structured.

He also understand how it should be running he has said in the past that it is broken, but he just got through saying just waiting until after August 8 and ninth, there’s change coming interesting to me.” …Super Mario on Telegram Mon. 5 Aug. 2024

Global Currency Reset: (Rumors/Opinions)

Tues. 6 Aug. 2024 Bruce: Last Sat. 3 Aug. 2024 at 8am EST the RV began with payout of CMKX Adjudicated Settlements and Farm Claims. Prosperity packages were getting ready to be delivered. By Tues. 6 Aug. there were 19 currencies whose  hard rates were on the bank screen.

Tues. 6 Aug. 2024 Wolverine: News about notifications are coming out with the release of codes for payments and account access. Information confirms that Paymasters are ready to disburse funds on receipt. Get ready everyone this is the week we’ve been waiting for. I just got another confirmation from a huge Whale that it is happening. Your friend, Wolverine

Remember I told you that the “delay” we have been through for the past 2+ years, is because it literally took this TIME to collapse the US Dollar, and introduce a new Gold/Silver backed currency, and implement GESARA.

Remember the Cabal controlled us because of the Central Banking system, including the Federal Reserve.

NOW…the TIME has FINALLY arrived on what we have been waiting for and working so hard for. There will still be bumps in the road, but remember easy was never the promise. VICTORY was.

Hold on patriots and buckle up, the movie is about to get REALLY GOOD!

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The Shanghai Exchange Corporation and Russia are working on a BRICS payment system. Watch the water. …Goldilocks https://tass.com/economy/1824025#amp_tf=From%20%251%24s&aoh=17228107385705&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ftass.com%2Feconomy%2F1824025   https://unitingtocombatntds.org/en/get-involved/events/brics-summit-2024/

This new International Digital Payment System is expected to be discussed at the BRICS summit on October 22nd through the 24th of 2024.

After discussions during the summit, Russia in cooperation with a Shanghai Exchange Corporation will begin the implementation process of moving the trading world into a new payment system. Remember, this is over 80% of trade that takes place around the world on the water, and it has the power to influence exchange rates.

Many countries are already beginning to join the BRICS Nations as trading partners utilizing a gold standard in trade to level the playing field. Other countries will be added as we go along.

This is expected to change the Global Financial system in a profound way especially in the area of currency valuations being traded locally instead of through the dollar as the World Reserve Asset.

From that point on, we can expect changes to begin processing themselves AS the BRICS Nations begin to mobilize their new payment system.

I am not calling an RV date at that time, but I will say that price pressures on new currencies being utilized on the market will begin to show signs of new movement.

Read full post here:  https://dinarchronicles.com/2024/08/07/restored-republic-via-a-gcr-update-as-of-august-7-2024/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
The US Treasury are saying to us they are active in our country and they're making sure the change that is coming will not be a massive flow straight into Iran...They are telling us on TV the time has come to hit the ground for this corruption.

Militia Man  Iraq is still being able to function.  They told us their 2023-24 budget was legal, has always been and they're moving forward with it...Even though we haven't seen an exchange rate change they can still function, which is fine...Now they're starting to do things that are getting their banks in order and we're seeing the results of that.

IQD Investment Saudi Iraq & US How It All Started

Edu Matrix:  8-8-2024

IQD Investment Saudi Iraq & US How It All Started - IQD Investment Saudi Iraq & U.S. The new IQD investment has a unique history. How Saudi, Iraq, and the U.S. play key roles in the NEW Iraqi Dinar Investment.

There is a crucial piece of the puzzle missing. The real reason the U.S. Administration created a campaign to invade Iraq the second time. Until we fully undersand the "real" reason, for the invasion, we have limited knowledge.

https://www.youtube.com/watch?v=7EEDk2m0EjY

LIVE! Big Banks Are Boosting Cash Reserves. Why? (I AM EXPECTING A MAJOR FF EVENT).

Greg Mannarino:  8-8-2024

https://www.youtube.com/watch?v=fkM-JqvSykk

The Financial System Crisis Unfolding Now is Different and Way Worse

The Financial System Crisis Unfolding Now is Different and Way Worse

On August 6, 2024  By Awake-In-3D

The Current Financial System Crisis is more severe than 2008. Here’s what is coming and why.

I want to have a candid conversation with you today about something incredibly important. Many of us remember the financial system crisis of 2008 and the global turmoil it caused.

Now, we’re facing a situation that’s not only different but potentially much worse.

The global financial system is on the brink of a crisis that could see the collapse of the US dollar, something we’ve never experienced before.

This isn’t just another recession; it’s an oncoming catastrophe that will change everything.

In This Article:

• The Collapse of the Dollar: A Unique Catastrophe

• Historical Comparisons: The 2008 GFC vs. Now

• Key Factors Driving the Current Crisis

• Preparing for an Unprecedented Financial Collapse

What we are now coming into is not just another recession.

What’s coming is the potential collapse of the dollar, an event that dwarfs the 2008 Global Financial System Crisis (GFC). The ramifications of such a collapse are unprecedented, threatening to plunge the global economy into chaos.

We should all hope that an alternative, gold-backed currency system is in place before this happens.

The Collapse of the Dollar: A Unique Catastrophe

Unlike past financial crises, this one involves the potential collapse of the US dollar, the world’s reserve currency. Such an event has never been experienced before.

The dollar’s collapse would lead to widespread economic instability, making the crisis far more severe than anything seen in recent history.

Historical Comparisons: The 2008 Global Financial Crisis vs. Now

The 2008 GFC was triggered by the collapse of the housing market and the failure of financial institutions.

In response, the Federal Reserve injected liquidity into the banking system, which temporarily stabilized the economy.

However, the measures taken back then have led to long-term consequences, such as inflated asset prices and increased national debts to historic levels, setting the stage for a more catastrophic crisis now.

Key Factors Driving the Financial System Crisis We’re Entering Now

The current financial system is teetering on the edge due to several critical factors:

1. Excessive Liquidity and Debt: The continuous injection of liquidity and low-interest rates since 2008 have led to unsustainable levels of debt. This “hallucinated capital” has created a massive bubble that is now on the verge of bursting.

2. Loss of Faith in the Dollar: With increasing global instability, there is a growing loss of confidence in the dollar. As soon as an alternative, more stable gold-backed currency emerges, the dollar could collapse, triggering widespread financial chaos.

3. Unprecedented Economic Shocks: Events such as government responses to COVID-19 and geopolitical tensions have strained the global economy. The repo market spasm in 2019 highlighted the fragility of the financial system, which was only exacerbated by the 2020 eoncomic shutdown and unfunded public stimulus programs.

4. Systemic Failures: The unprecedented, interconnected nature of the global financial system means that failures in one area will quickly spread, leading to a domino effect of collapsing markets and institutions.

Preparing for an Unprecedented Financial Collapse

As the great, global fiat financial system experiment reaches its logical conclusion, it’s critical to understand the gravity of the situation and take steps to prepare.

Unlike the 2008 GFC, the tools and tricks used by the almighty FED to stabilize the economy are now exhausted.

The focus should be on securing tangible assets that retain value, such as gold and silver, and preparing for the potential shutdown of banks and financial institutions.

The collapse of the dollar will lead to an epic revaluation of assets, with many losing significant value. This time, the so-called authorities are out of tricks and out of fake money.

Emergency interest rate cuts and liquidity injections won’t change the fundamental issues at play.

The Bottom Line

The financial crisis unfolding now is fundamentally different and much worse than the 2008 Global Financial Crisis.

The collapse of the dollar, driven by unsustainable debt, loss of confidence, and systemic failures, will have unprecedented global repercussions. Preparing for this collapse involves understanding the gravity of the situation, securing tangible assets, and bracing for widespread economic turmoil.

The wait is over, and the reality of a collapsing financial system is here.

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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

Follow me on Twitter: @Real_AwakeIn3D

Seeds of Wisdom RV and Economic Updates Wednesday Evening 8-7-24

Good Evening Dinar Recaps,

India has no plans to regulate crypto sales and purchases

Despite tightening measures against money laundering and terror financing, India has no immediate plans to regulate cryptocurrency transactions.

The Indian government revealed no immediate plans to regulate the sales and purchase of cryptocurrencies as it continues to tighten oversight on crypto-related money laundering and terror financing.

During a parliamentary meeting on Aug. 5, Pankaj Chaudhary, the Minister of State in India’s Ministry of Finance, responded to several questions detailing the nation’s current stance on crypto regulations.

Chaudhary said that India has not conducted any study or research to understand the adoption level of cryptocurrencies among its citizens. He responded by saying that:

“Crypto assets or Virtual Digital Assets (VDAs) are unregulated in India and the government does not collect data on these assets.”

India will tax crypto, not regulate it

Although India officially implemented a tax system for cryptocurrency transfers and profits on April 1, 2022, the government has no plans to regulate the sale and purchase of cryptocurrencies. Under India’s crypto law, citizens are required to pay a 30% tax on unrealized crypto gains and a 1% tax deducted at source (TDS).

Chaudhary highlighted India’s ongoing efforts toward Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) in crypto. Earlier in January, India banned several offshore crypto exchanges for noncompliance with local regulations, including Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC.

However, the nation has no plans to regulate crypto purchases and sales. Chaudhary added:

“Currently, there is no proposal to bring legislation for regulating the sales and purchase of virtual digital assets in the country.”

Ongoing efforts to curb illicit crypto activities

He also reminded that India had pushed for a coordinated effort from all G20 nations to curb the illicit use of cryptocurrencies globally during its 2023 presidency.

Binance’s plan to reenter India after paying a $2 million fine for noncompliance was recently met with a roadblock.

On Aug. 6, the Directorate General of Goods and Service Tax Intelligence (DGGI) — an Indian law enforcement agency — demanded 722 crore Indian rupees ($86 million) in unpaid taxes from Binance.

Indian authorities had sent email notices to Binance offices in Seychelles, the Cayman Islands and Switzerland, which the crypto exchange ignored. However, Binance later appointed a local counsel to officially resolve its tax obligations.

@ Newshounds News™

Read:  Coin Telegraph

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HOW TO BUY XRP

"XRP is one of the largest cryptocurrencies by market capitalization, starting the year with a value of more than $30 billion.  XRP’s origins date back to 2012 when the company now known as Ripple was founded and the XRP Ledger launched."

"Unlike bitcoin (BTC) and ethereum (ETH), the Ripple network and its XRP native cryptocurrency were designed to facilitate financial transfers among banks and other global financial institutions.

 The goal of the project was to create a cheaper, faster and more secure alternative to the Society for Worldwide Interbank Financial Telecommunications, or SWIFT, which executes financial transfers."

WHAT IS XRP?
"While investors sometimes refer to the XRP cryptocurrency as Ripple, in fact Ripple is the technology company backing XRP and the XRP ledger blockchain.

The XRP blockchain itself is decentralized and public. The Ripple transaction protocol facilitates XRP network transactions, a set of rules governing RippleNet. RippleNet is a network of payment facilitators and banks worldwide that helps participants send and receive payments seamlessly, reducing transaction bottlenecks."

"Unlike bitcoin, dogecoin (DOGE) and other cryptocurrencies mined using a proof-of-work consensus mechanism, XRP is pre-mined and has a maximum total supply of 100 billion tokens. "

1. Decide if you want to buy XRP.
"XRP has advantages over bitcoin, ethereum and other leading cryptocurrencies, but it may only be right for some investors. "

2. Find a place to buy XRP.
"Once you have decided to buy XRP, you must find a cryptocurrency exchange or investing app that supports XRP trading. Exchanges are online platforms where users trade cryptocurrencies, and XRP is supported on a large number of markets and exchanges. "

Centralized exchanges
"A centralized crypto exchange is similar to a traditional financial institution in which a centralized company acts as an intermediary between transaction participants. Leading centralized crypto exchanges that support XRP trading include Binance, Coinbase, Kraken and Bybit."

Decentralized exchanges
"A decentralized crypto exchange allows users to make direct transactions through blockchain technology to complete trades without needing a centralized intermediary. Leading decentralized crypto exchanges that support XRP trading include PancakeSwap, SimpleSwap and onXRP."

3. Choose a form of payment.
Once you open an account on your preferred exchange, you must decide which payment methods are compatible with your exchange and convenient for you.

Fiat currency
"Many centralized exchanges allow the U.S. dollar or other fiat currencies for payment. Fiat currencies are government-supported currencies that are not backed by physical assets. Examples include the U.S. dollar, Japanese yen and euro."

Cryptocurrency
"Crypto exchanges often allow users to buy and sell one cryptocurrency using other cryptocurrencies. It’s common for crypto traders to buy and sell altcoins like XRP using bitcoin."

Stablecoins
"Stablecoins are cryptocurrencies designed to have stable prices, typically by pegging them to the price of a fiat currency or other commodity. Popular stablecoins include tether (USDT), USDC (USDC) and Dai (DAI), which are all pegged to the U.S. dollar."

4. Store your XRP.
"You will need a digital wallet compatible with XRP to store your crypto. Digital wallets are hardware or software that store a user’s private keys and are used to send and receive crypto.  Some cryptocurrency exchanges provide custodial wallets to their customers.

But others require noncustodial wallets that leave the user responsible for securing private keys. Centralized exchanges such as Kraken and Coinbase offer users custodian wallets.

XRP is also supported on noncustodial software wallets such as GateHub, Xumm and Trust Wallet, as well as noncustodial hardware wallets such as Ledger, Keystone and Trezor."

@ Newshounds News™

Read more:  USA Today

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De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies

HOW LONG WILL IT TAKE TO DE-DOLLARIZE THE WORLD WHEN WE HAVE REAL-WORLD PROBLEMS SUCH AS THIS ARTICLE PRESENTS STILL EXIST

"Sometime in 2023, during the peak of anti-dollar hype, Kenyan President William Ruto questioned why his country and Djibouti still had to settle trade in U.S. dollars when they had their currencies."

" The U.S. dollar hegemony was never widely seen as a threat, even as a few small countries were highlighting Washington’s apparent use of the currency’s dominance to achieve political goals.

However, when the U.S. took the bold step of using the dollar’s dominance to punish Russia after its invasion of Ukraine, suddenly there seemed to be a consensus among countries that Washington was weaponizing its currency.

For countries fearing they might be the next target, advocating for an alternative to the dollar or de-dollarization became the logical course of action."

"Clearly, the process or task of establishing a currency that eats into the greenback’s dominance is a mammoth one. But why is it difficult to create or launch a currency that can challenge the U.S. dollar? Alternatively, what has enabled the dollar to remain the most preferred reserve currency, even among those bitterly opposed to the U.S.?"

U.S. Dollar as a Store of Value
"Well, a lot may have nothing to do with what the U.S. is doing right but rather with what its opponents are doing. A good example exists in Africa, where persistently high inflation rates have convinced citizens that holding onto a local currency is unwise."

"Injecting money that does not correspond with an economy’s production usually results in one thing: runaway inflation. Unfortunately, this is precisely what many central banks, including those in Africa, have been doing, leading to currency crises and eventual dollarization."

"So, to answer the Kenyan President and those asking a similar question, traders between two African countries demand payment in U.S. dollars because they lack confidence in their own or their counterpart’s national currency.

It does not matter how far away they are from the United States; the two traders prefer this because it has a stable value, at least when compared with their respective national currencies."

"While the Kenyan leader has gone as far as to plead with traders to use local currencies, several African countries have banned the use of foreign currency in domestic transactions. However, this approach has often not translated into the increased local currency use. Instead, it has driven traders underground, harming local economies."

@ Newshounds News™

Read more:  Bitcoin

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Judge Fines Ripple $125M, Bans Future Securities Law Violations in Long-Running SEC Case

"A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday."

"District Judge Analisa Torres, of the Southern District of New York, imposed the fine after finding that 1,278 institutional sale transactions by Ripple violated securities law, leading to the fine. 

The $125.035 million fine is well below the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalty the SEC sought."

"The SEC tried unsuccessfully to appeal that portion of the ruling while the case was ongoing."

"The injunction document requires Ripple to file a registration statement if it intends to sell any securities. The SEC is likely to appeal the July 2023 ruling now that the judge has imposed a sentence, after the same judge denied the SEC's motion for an interlocutory appeal last year."

"The SEC and Ripple settled charges tied to CEO Brad Garlinghouse and other executives after that interlocutory appeal was denied.

The price of XRP rose 3 cents, or around 2%, after the judgement was published."

@ Newshounds News™

Read more:  CoinDesk

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Fed Data Shows 9.1% of Credit Card Balances Hit Delinquency Status This Year | PYMNTS

@ Newshounds News™

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The Federal Reserve Is Missing What Seems To Be Obvious To Everyone Else

The Federal Reserve Is Missing What Seems To Be Obvious To Everyone Else

Notes From The Field By Peter Schiff  August 7, 2024 

On Wednesday, March 8, 2023, Fed Chairman Jerome Powell was sworn in for testimony in front of members of Congress to deliver remarks about the state of the US economy.

Inflation had been raging for well over a year at that point, and, in response, the Fed had rapidly increased interest rates to levels not seen since 2007.

But nothing happens in a vacuum. The Fed cannot expect to jack up rates without some major consequences. And concerned members of Congress asked the Chairman about these potential consequences.

But Chairman Powell played them off, practically dismissing any risk to their raising rates and ‘tightening’ monetary policy, saying “nothing about the data suggests we’ve tightened too much. . .”

Two days later, Silicon Valley Bank went bust-- in large part because of the Fed’s interest rate increases.

And it wasn’t just Silicon Valley Bank that was in trouble. In fact, the FDIC reported over $600 billion in unrealized losses across the entire US banking system, and most of that due to higher interest rates.

It’s not hard to understand. Banks typically invest their customer deposits in either loans or bonds. And rule #1 with bonds is that, when interest rates rise, bond prices fall.

Even a first-day intern at the Fed would have known that. The Fed chairman should have certainly known that.

It was also in their own data. Remember, the Fed is also one of the key supervisors of the US banking system, so they had access to all of Silicon Valley Bank’s financial records. They saw the losses piling up, they saw the risks.

This is what’s so bizarre. The Fed always claims to be looking at the data and says that their economic prognostications are based on data.

But again, the Fed had the data. It was glaring at them. But they failed to anticipate any consequences to their rate hikes-- even TWO DAYS before a major bank collapsed.

Sadly, the Fed chairman seems to have outdone even that bad call.

Last week he told a room full of reporters that economic weakness is “not what we’re seeing” and that the economic data are “not signaling a weak economy. . . ”

He went on to say that chances of a “hard landing are low” and that “the picture [of the US economy] is not one of slowing.”

Yet once again, literally days later, a meltdown in financial markets took place worldwide… because investors finally realized that the Fed has no idea what they’re talking about.

And everyone from Pepsi to McDonald’s to Heineken to Cartier to Porsche has been reporting slower growth or declines in sales.

This morning Disney reported a slowdown in its parks division-- which is typically rock solid. Proctor & Gamble reported a decline in sales of Tide laundry detergent and Charmin toilet paper. The list goes on and on.

Monday’s sudden market swoon has calmed. But in large part that sense of calm is because investors are now pricing in a near 100% chance of a 50-basis point (0.5%) rate cut at the Fed’s September meeting. There are even some expectations of an emergency rate cut before the September meeting.

Again, they claimed just a week ago that the chances of a hard landing “are low”, and that a 50-basis point cut is “not something we’re thinking about”. Yet just days later, it became clear that the economy is slowing, and unemployment is moving higher.

(It’s also notable that most of the growth in labor market now is with government jobs, which actually hurt the economy.)

So, the Fed is almost certainly going to have to reverse itself and start making big rate cuts. Frankly, they have no other option, if for no other reason than the national debt.

The US government has trillions and trillions of dollars of bonds which are maturing this year and next. And the Treasury Department clearly doesn’t have the cash to pay them back. So instead, they’ll have to reissue more bonds to pay back the old bonds. Sounds a bit like a Ponzi scheme to me.

Their problem is that the new bonds will carry a much higher rate of interest than the old bonds… which the federal government absolutely cannot afford.

Think about it: $10 trillion worth of bonds paying a 1% coupon costs $100 billion per year in interest. That’s a lot, but it’s manageable. If they have to refinance $10 trillion at 5%, the annual interest bill increases to $500 billion… which is showstopper.

So, the Fed HAS to cut rates-- not only to jump start the economy and prevent a recession… but to bail out the US government and give the Treasury Department the opportunity to refinance its debt at a lower rate.

However, these rate cuts, combined with yet another round of quantitative easing (i.e. money printing), will just end up bringing a LOT more inflation to the US economy.

Naturally the Fed is not forecasting any of this. They don’t see the inflation problem ahead. They keep claiming that they’re looking at the data… yet they consistently misdiagnose what’s happening in the economy.

It’s like an ER doctor who examines a patient with a gunshot wound and prescribes a course of stool softeners. They’re missing what seems to be obvious to everyone else.

Look, these guys are human beings too. They’re not perfect, they’re going to make mistakes. But that’s the problem with this monetary system: a handful of bureaucrats with bad track records are awarded the most powerful authority in finance and expected to be infallible.

It’s a deeply, deeply flawed system, and it’s bizarre that anyone has any confidence in it.

The Fed is not all-powerful. Not only do they not see the coming danger, but they’re powerless to stop it. And Monday’s meltdown is a sign that the market is starting to figure that out.

Peter Schiff  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/peter-schiff-the-fed-prescribes-stool-softeners-for-america-151217/

More News, Rumors and Opinions Wednesday PM 8-7-2024

KTFA:

Clare:  For 3 reasons.. Changing the relationship is “not enough” to improve the performance of the Central Bank

8/7/2024  Special

Economic consultant, Ziad Al-Hashemi, confirmed today, Wednesday, that changing the governor of the Central Bank, Ali Al-Alaq, will not be sufficient alone to bring about the required change and improvement in the performance of the Central Bank, but rather the issue requires a broad and large screening and development of its work style, updating its management structure, and giving it the independence it needs, like other central banks.

Al-Hashemi told Al-Jarida, “The Central Bank of Iraq suffers from several major and fundamental problems, the first of which is that there is a defect in the structure of the Central Bank of Iraq, and this defect is clear in the method and style of the bank’s work. There is also weakness in the performance of the administrative system within the Central Bank as a whole, and there is also weakness in the independence of the Central Bank.”

He explained that “these factors of administrative weakness, structural defects, and weakness in the independence of the Central Bank mean that any change at the level of the leadership as individuals will not make a significant difference in bringing about a qualitative shift or positive development in the performance of the Central Bank as a whole.”

He stressed that “the Central Bank needs a broad and extensive screening, developing its work model, updating its management structure, and giving it the independence it needs, just like other central banks, to work comfortably, make its decisions, manage, implement, and monitor monetary policies with complete independence, without political interference or interference from any other party.”

Al-Hashemi concluded by saying, “Changing the governor of the Central Bank will not be enough alone to bring about the required change and improvement in the performance of the Central Bank, but rather the issue requires other requirements.”   LINK

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

Mnt Goat   ...what is actually occurring between the CBI, the Feds and the US Treasury.  If you read the headlines today you might begin to panic...you might say things are looking really bad for Iraq. But I assure you that this is all actually VERY GOOD news for us investors... this recent move by the US Treasury was made for the benefit of the currency reform process so that they could move to the next step of the currency reform once these issues are fixed...

Militia Man  Article:  "Central Bank Governor's Resignation: Admission of Failure or Escape from the Repercussions of the Financial Crisis?"  Do we really think at this stage of where the reforms are now and how far they have come to even suggest Al-Alaq is going to go to Al-Sudani and give his resignation? ...Al-Alaq in present terms has kept the country in a state of financial stability to date...This is a hit piece. One that is not surprising as the dollar auctions have dried up. That is very painful to those that lived off the cash cow... We shall see if it arrives and he steps aside as they put it...

*************

TNT:

Tishwash:  A government bank manager replaces Al-Alaq: Will the new option be controversial?

The representative of exchange companies, Diaa Al-Taie, revealed today, Wednesday, his expectations regarding the possible alternative to the Governor of the Central Bank, Ali Al-Alaq, highlighting a set of necessary qualities that should be available in the new governor.

Al-Taie explained in his statements that “the expected replacement for the governor of the Central Bank, Ali Al-Alaq, will be the director of a government bank,” adding that this director has negative indicators according to informed sources. These expectations come amidst reports that Al-Alaq has submitted a request to Prime Minister Mohammed Al-Sudani to relieve him of his position, based on a number of issues and problems in the Iraqi financial and banking sector, and the inability to control the dollar exchange rate on the black market.

Al-Taie pointed out that the new governor must have four basic qualities to ensure the effectiveness and success of the Central Bank’s work. He explained that “the new governor of the Central Bank must be non-controversial, professional, honest, and acceptable domestically and internationally.” These qualities are essential to ensure the stability of the financial sector and achieve the desired economic goals.

These developments come at a critical time when Iraq is facing significant economic challenges, including controlling exchange rates and strengthening confidence in the banking system. The selection of a new governor for the Central Bank is a crucial step in addressing these challenges and ensuring the stability of the national economy.  link

STOCK MARKET CRASH? No... WE ARE IN A WORLDWIDE FINANCIAL CRISIS OF EPIC PROPORTIONS.

Greg Mannarino:  8-7-2024

https://www.youtube.com/watch?v=J4xGARjdkhw

URGENT: Is The Market Crash OVER? | Martin Armstrong

Capital Casm:  8-7-2024

https://www.youtube.com/watch?v=3kjuUrES4oI

Dollar Poised For Comeback, Recent Weakness Just A Hiccup

Dollar Poised For Comeback, Recent Weakness Just A Hiccup

Reuters poll   Sarupya Ganguly   Tue, August 6, 2024

BENGALURU (Reuters) - The U.S. dollar will claw back some of its recent losses over the coming three months on expectations financial markets have again gone too far in pricing in too many Federal Reserve interest rate cuts this year, a Reuters poll of foreign exchange strategists found.

After rising about 5% for the year, the greenback lost more than half its gains against a basket of major currencies in recent weeks amid sluggish U.S. economic data fuelling expectations of multiple Fed rate cuts, starting in September.

Much of those losses came following weaker-than-expected jobs data on Friday, which encouraged financial markets to project around 120 basis points worth of rate cuts in total from the three remaining Fed meetings this year, compared with 50 basis points just a few weeks ago.

Several major banks, including primary dealers who deal directly with the Fed, followed suit in predicting more rate reductions than expected earlier.

Yet with policymakers pushing back against speculation that recent weakness in economic data would translate into recession, markets may yet again be forced to temper their rate cut expectations.

FX strategists in the monthly Reuters poll, conducted from Aug. 1-6 through recent market turmoil, predicted the euro, currently about $1.10, would fall about 1.4% to $1.08 by end-October, before rising to current levels in six months and then to $1.11 in a year.

"Our strong dollar argument has certainly taken a big hit in terms of confidence, but is its strength truly over? That's not our call," said Paul Mackel, global head of FX at HSBC. "Our recession indicators are not flashing red. And even if the U.S. economy loses momentum, that usually spells bad news for other economies. The dollar does better in that environment."

"Are markets getting carried away? Naturally, I'd say yes, but it's difficult to stand in front of that speeding train in the very short term because this type of overreaction can persist," Mackel added. "You need to be very careful when volatility is this high and you're not used to it coming back so quickly."

MAJOR CUTBACK

The Japanese yen, which started its latest upward march against the U.S. dollar after the Bank of Japan raised its overnight call rate to 0.25% on July 31 and announced a major cutback in its asset purchases going forward, hit a seven-month high of 141.7/$ on Aug. 5. It will hold on to its recent gains to trade at 144/$ in a year, the survey showed.

To Read More:  https://news.yahoo.com/news/finance/news/dollar-poised-comeback-recent-weakness-125712849.html

Economist’s “Market Crash News and Views” 8-7-2024

Economic Freight Train Is Coming | Gregory Mannarino

Liberty and Finance:  8-7-2024

Gregory Mannarino warns of a looming economic trainwreck driven by massive currency devaluation and unsustainable debt levels.

He believes that the central banks' policies, such as suppressing interest rates and weakening the dollar, are setting the stage for a severe financial crisis.

 Mannarino argues that these actions disproportionately benefit corporations and the wealthy, leaving average citizens vulnerable.

He emphasizes the need for awareness and proactive measures to mitigate the impact of the impending economic downturn on individuals and communities.

INTERVIEW TIMELINE:

 0:00 Intro

2:10 Volatile markets

12:18 The “solution”

18:19 Dividing the population

 27:46 Preparedness

https://www.youtube.com/watch?v=D1scwsMyYdc

Why the Yen Carry Trade Unwind is Breaking the Market

Heresy financial:  8-7-2024

TIMECODES

0:00 Intro

0:23 What a Carry Trade is

2:42 The Yen Carry Trade

7:57 the Change in Direction of Currencies Compared to Each Other

10:49 This is not a Black Swan

 12:36 Massive Spike In the VIX

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

Commodities To Go 'Through the Roof' After Brutal 80% Market Crash: David Hunter

Commodities Culture:  8-7-2024

David Hunter forecasts that the broad market is set for an 80% crash in the next year, in a bust he believes could be one of the biggest financial downturns in history.

The good news for commodities investors is that he sees an unprecedented supercycle for hard assets on the other side, where gold, silver, energy, uranium, copper, and other vital commodities will explode in value beyond what anyone can anticipate.

00:00 Introduction

 00:44 The Fed's Next Move

 01:42 State of the Broad Market

05:58 Implications of Rate Cuts

11:07 History Repeating

 13:52 Canada Has No Gold

17:44 BRICS Versus the West

23:22 Oil and Geopolitics

 26:43 Thoughts on Uranium

 28:24 Forecast For Copper

30:07 Agricultural Commodities

33:54 Inflation Leading to Civil Unrest

36:18 Get Your House in Order

42:40 Gold and Silver's Role

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

Has it Begun? Three Phases Now Lead to the Final Fiat Currency System Apocalypse

Has it Begun? Three Phases Now Lead to the Final Fiat Currency System Apocalypse

On August 5, 2024   By Awake-In-3D

Is the financial system crash upon us? Here’s what you need to know about the potential collapse of the fiat currency system apocalypse.

The global financial system today is showing signs of severe distress. But is it the beginning of global currency system apocalypse?

This Time, It Could Be Far Worse

Unlike the 2008 crisis, this time, the underlying issues are far deeper, and the usual remedies may not work.

Today’s alarming events may just be the beginning and the Federal Reserve’s usual tactics of cutting interest rates and pumping money into the financial economy might not be enough to save the Great Global Fiat Currency Debt System Experiment.

In This Article

• Market Downturn and Margin Calls

• Bear Market and Flight to Safety

• Federal Reserve Intervention and Quantitative Easing

• The Bottom Line

The current global financial situation is precarious. While today’s events were not disastrous, they signal potential future dangers.

The fundamental weaknesses from the 2008 financial crisis were never properly fixed, only temporarily covered up.

So let’s take a look at the three phases that could certainly lead to a final global currency system apocalypse.

1) Market Downturn and Margin Calls

A sudden and significant drop in global markets can trigger Margin Calls.

A Margin Call is a demand from a broker for an investor to deposit more money or securities to cover potential losses.

When this happens, large investment firms and hedge funds often sell assets like gold to cover their losses, which drives down the price of gold during market crashes.

For example, if the stock market plummets, investors who borrowed money to buy stocks (using leverage) must quickly provide additional funds or sell their assets to meet the broker’s requirements.

This forced selling can create a downward spiral, where falling asset prices lead to more Margin Calls and further selling, exacerbating the market downturn.

2) Bear Market and Flight to Safety

Continued sell-offs can lead to a Bear Market, which is a prolonged period where investment prices fall significantly, typically 20% or more from recent highs.

During a Bear Market, investors look for safer places to put their money. This rush to safety causes the prices of gold, the US dollar, long-term US Treasury bonds, and even Bitcoin to rise, as these are seen as safe investments.

A Bear Market reflects widespread pessimism and negative investor sentiment, where people expect prices to keep falling.

In such times, they often shift their investments to assets that are considered more stable and less risky. Gold is traditionally viewed as a safe haven because it maintains value better than most assets during economic downturns.

Similarly, the US dollar and US Treasury bonds are seen as secure because they are backed by the US government. Recently, Bitcoin has also been perceived as a hedge against traditional financial instability.

3) Federal Reserve Intervention (Bringers of the Currency System Apocalypse)

If the markets keep falling, the Federal Reserve (the central bank of the United States) may step in.

They will cut interest rates and use Quantitative Easing (QE), which means buying long-term securities to inject money into the economy and encourage lending and investment.

However, this can lead to the debasement of fiat currencies (making money less valuable) and eventually freeze credit markets, where businesses borrow money.

During the 2008 financial crisis, the Federal Reserve used massive QE to stabilize the economy. By purchasing large amounts of government bonds and mortgage-backed securities, the Fed increased the money supply, making it cheaper to borrow money.

While this helped to avert a deeper recession, it also set a precedent for relying on QE during crises. In today’s context, the effectiveness of QE is uncertain.

Further QE could lead to fast-rising inflation and erode the value of currencies. If banks, businesses and consumers lose additional confidence in the financial system, they might hoard cash instead of spending or lending, potentially leading to a freeze in the credit markets. It won’t take much.

The Bottom Line

Today’s financial troubles might be early warnings of a much larger crisis. The three phases—Market Downturn and Margin Calls, Bear Market and Flight to Safety, and Federal Reserve Intervention and Quantitative Easing—could lead to the collapse of the fiat financial system. It’s vital to stay aware and ready as these uncertain times unfold.

=======================================

© 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

Follow me on Twitter: @Real_AwakeIn3D

News, Rumors and Opinions Wednesday AM 8-7-2024

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. 7 Aug. 2024

Compiled Wed. 7Aug. 2024 12:01 am EST by Judy Byington

“There is a Black Swan Stock Market Crash on the horizon that will have a huge impact across the world and lead to a Global Currency Transition in 209 countries. To ensure that this actually happens, a DEFCON ONE ALERT has already been issued.”   …Mr. Pool on Telegram Tues. 6 Aug. 2024

Thurs, Fri. 8, 9 Aug. 2024: “I just saw something that really made me stop and say huh. Kevin O’Leary was being interviewed for his opinion on the economy and how bad it is being handled, he said just wait until August 8 and ninth. There is going to be a major Nexus August 8 and ninth, a major transformation of the world economy.

He didn’t say revaluation he said transformation coming from somebody like Kevin O’Leary. If you don’t know who Kevin O’Leary is, he’s one of the richest men in the World and he helps people make money. He understands the stock market understand national economy it doesn’t matter it is if it is the USA, Canada, Great Britain, China, any country he understands how the economy is structured.

He also understand how it should be running he has said in the past that it is broken, but he just got through saying just waiting until after August 8 and ninth, there’s change coming interesting to me.” …Super Mario on Telegram Mon. 5 Aug. 2024

~~~~~~~~~~

Global Currency Reset:

Tues. 6 Aug. 2024 Bruce: Last Sat. 3 Aug. 2024 at 8am EST the RV began with payout of CMKX Adjudicated Settlements and Farm Claims. Prosperity packages were getting ready to be delivered. By Tues. 6 Aug. there were 19 currencies whose  hard rates were on the bank screen.

Tues. 6 Aug. 2024 Wolverine: News about notifications are coming out with the release of codes for payments and account access. Information confirms that Paymasters are ready to disburse funds on receipt. Get ready everyone this is the week we’ve been waiting for. I just got another confirmation from a huge Whale that it is happening. Your friend, Wolverine

Remember I told you that the “delay” we have been through for the past 2+ years, is because it literally took this TIME to collapse the US Dollar, and introduce a new Gold/Silver backed currency, and implement GESARA.

Remember the Cabal controlled us because of the Central Banking system, including the Federal Reserve.

NOW…the TIME has FINALLY arrived on what we have been waiting for and working so hard for. There will still be bumps in the road, but remember easy was never the promise. VICTORY was.

Hold on patriots and buckle up, the movie is about to get REALLY GOOD!

~~~~~~~~~~~

The Shanghai Exchange Corporation and Russia are working on a BRICS payment system. Watch the water. …Goldilocks https://tass.com/economy/1824025#amp_tf=From%20%251%24s&aoh=17228107385705&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ftass.com%2Feconomy%2F1824025   https://unitingtocombatntds.org/en/get-involved/events/brics-summit-2024/

This new International Digital Payment System is expected to be discussed at the BRICS summit on October 22nd through the 24th of 2024.

After discussions during the summit, Russia in cooperation with a Shanghai Exchange Corporation will begin the implementation process of moving the trading world into a new payment system. Remember, this is over 80% of trade that takes place around the world on the water, and it has the power to influence exchange rates.

Many countries are already beginning to join the BRICS Nations as trading partners utilizing a gold standard in trade to level the playing field. Other countries will be added as we go along.

This is expected to change the Global Financial system in a profound way especially in the area of currency valuations being traded locally instead of through the dollar as the World Reserve Asset.

From that point on, we can expect changes to begin processing themselves AS the BRICS Nations begin to mobilize their new payment system.

I am not calling an RV date at that time, but I will say that price pressures on new currencies being utilized on the market will begin to show signs of new movement.

~~~~~~~~~~~~

Global Financial Crisis:

Tues. 6 Aug. 2024 Staged Stock Market Comeback: Wall Street stages ‘Turnaround Tuesday’ after biggest sell-off in two years – but JPMorgan warns stock market rout is only ‘half complete: https://www.dailymail.co.uk/yourmoney/consumer/article-13714195/global-stock-market-crash-america-wall-street-recession.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Tues. 6 Aug. 2024: Bank Closures. https://www.lancashiretelegraph.co.uk/news/national/uk-today/24492762.hailfax-natwest-lloyds-bank-branches-close-august/

Read full post here: https://dinarchronicles.com/2024/08/07/restored-republic-via-a-gcr-update-as-of-august-7-2024/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Iran has been using some of Iraq's banks to get around the sanctions and to profit off of the dollar.   Now the US Treasury is here and stopping it.  FRANK:  Yeah, they are extremely angry because they lost their sugar daddy.  They lost the CBI auctions...They will figure out other ways to steal... The power of the corrupt political people in your country is being suffocated.  That power is dying.  It is going from those corrupt people back to you Iraqi citizens through a monetary reform that will give you purchasing power...

Clare  Article: "The Iraqi Stock Exchange achieves “positive results” in light of the major and accelerating collapse of global stock exchanges!"  Quote:  "the Iraqi Stock Exchange, unlike the world, achieved positive results for this day, unlike the data of Arab and international stock exchanges, indicating that the stock exchange in Iraq operates in a business environment that is almost separate from international markets."

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Crash Not Over: Markets To ‘Wash Out’ 94% In ‘Most Important Event In History’ | Harry Dent

David Lin:  8-6-2024

Harry Dent, Founder of HS Dent, discusses the causes of recent market volatility and what's next for financial assets and real estate in what he describes as the "most important economic event in history."

0:00 - Intro

1:30 - Most important event of the century

7:00 - Bubble bursting

10:07 - Stock market targets

12:30 - Interest rates and inflation

14:50- Recent volatility

18:40 - Recession and labor market

 21:20 - Emergency rate cut?

23:30 - More Fed stimulus

25:45 - Recession by 2025

26:44 - The Coming Great Conflict

30:40 - Global fertility decline

 33:45 – Bonds

 35:36 - Real estate

37:30 - Safe haven?

https://www.youtube.com/watch?v=9igq79DoCJc&t=116s

“Tidbits From TNT” Wednesday Morning 8-7-2024

TNT:

Tishwash:  Central Bank Governor's Resignation: Admission of Failure or Escape from the Repercussions of the Financial Crisis?

The Governor of the Central Bank of Iraq, Ali Al-Alaq, submitted a request to relieve him of his post to Prime Minister Mohammed Al-Sudani, amid a series of issues and problems in the financial and banking sector in Iraq, which include the failure to control the dollar exchange rate on the black market.

An informed source revealed to Al-Mustaqilla today, Tuesday, that Al-Alaq decided to submit his resignation after facing multiple problems in the financial sector, in addition to his inability to fulfill his promises to control the exchange rate. This request comes at a sensitive time for the Iraqi economy, which suffers from severe fluctuations in exchange rates and direct impacts on the local economy.

The main reasons that prompted Al-Alaq to submit his resignation are related to the ongoing difficulties in managing the financial and banking sector, in addition to the major challenges in controlling the dollar exchange rate on the black market. Since taking office, Al-Alaq has made many promises to achieve financial stability, but he has faced great difficulties in implementing them, which has led to increasing pressure on him.

A document obtained by Al-Mustaqilla today, Tuesday, revealed that the Speaker of Parliament has agreed to host the Governor of the Central Bank, Ali Mohsen Al-Alaq, by the Parliamentary Integrity Committee. This hosting aims to discuss the challenges facing the Central Bank and investigate the reasons that led to the request for his resignation.

Al-Alaq’s resignation could raise questions about the future of financial policy in Iraq. The central bank is central to economic stability, and any change in its leadership could have a significant impact on financial markets and confidence in the banking system.

Iraq faces major economic challenges that require strong and qualified financial leadership. The most prominent of these challenges are: 

Controlling the exchange rate: Iraq needs effective policies to control the dollar exchange rate and prevent speculation that leads to sharp fluctuations.

Banking system reform: Improving the efficiency and transparency of the banking system to keep pace with international standards.

Combating corruption: Promoting integrity and transparency in financial institutions to prevent corruption and restore investor confidence.   link

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Tishwash:  Finance seeks to improve financial performance and enhance spending efficiency

Finance Minister Taif Sami chaired a meeting of the Ministry's Opinion Board on Tuesday, where it discussed the measures taken to improve the ministry's financial performance and enhance the efficiency of public spending.
The ministry said in a statement received by the Iraqi News Agency (INA): "The Minister of Finance chaired the meeting of the Ministry's Opinion Board, attended by all its members, to discuss a number of important financial and economic topics."

The statement added, "The attendees discussed the current financial policies and procedures and ways to develop them to achieve the ministry's strategic goals and follow up on the implementation of the financial plan for the current year and the challenges it faces."
It continued, "The future directions of financial policies were also discussed in light of local economic variables and the measures taken to improve the ministry's financial performance and enhance the efficiency of public spending."

The meeting stressed - according to the statement - the importance of "continuous coordination between various relevant parties to ensure the achievement of the desired goals."  link

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Tishwash:  Rafidain announces the implementation of the comprehensive banking system in 37 branches

Rafidain Bank announced today, Wednesday, the implementation of the comprehensive banking system in 37 branches.

The media office of Rafidain Bank stated in a statement received by the Iraqi News Agency (INA), that "in implementation of the government program to move from paper transactions to electronic ones to provide the best services to citizens, the comprehensive banking system was applied in the Al-Amir neighborhood branch in Najaf and the Kut branch, thus joining the branches in which the comprehensive system was activated in Baghdad and the governorates in addition to the branches of the border crossings (Zurbatiya - Safwan - Arar - Trebil) so that the number of branches in effect and completed for the system becomes (37) branches."

He added, "This important step came to strengthen the banking system, meet its requirements, and move away from paper work and towards completely electronic systems."

 He added that "the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timetables to include all bank branches in implementing the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions." link

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Tishwash:  Agenda of the House of Representatives session tomorrow, Wednesday

The Iraqi News Agency (INA) publishes the agenda of tomorrow's session of the House of Representatives, Wednesday, according to what was published by the media department.

Iraqi News Agency IRAQI NEWS AGENCY

News   Al-Nawar sat

First: voting on the draft law on public scientific university education (7 articles). private. Heaven Alt

Second: The first reading of the draft law on the first amendment to the Industrial Cities Law No. (2) Economy, Industry and Trade (7 articles).

Third: Report and discuss (the second reading of the draft law on the first amendment to the law establishing the year 2016. (Committee of Martyrs, Victims and Political Prisoners).

Fourth: The first reading of the draft law on the first amendment to the Notary Book Law No. (Legal Committee), (10) articles).

Fifth: The first reading of the proposed law on the first amendment to the Pharmacists Syndicate Law of 1966. (Health and Environment Committee), (31) articles).

Sixth: The first reading of the proposed law on the first amendment to the law of the House of Representatives and its formations, Legal Committee No. (14 articles).

The session begins at one o'clock in the afternoon  link

Mot: ... Sooooooooooooo Ready to Ask!!!!! 

Mot: .. Just Love When I Find Such Positive Vibs on da net!!!!